THE ISLAND WATER ASSOCIATION INC (EIN 591111129) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1965

Legal Domicile

Principal Officer

DIANA WILSON

Phone

2394721502

Tax Period

2024-01-01 to 2024-12-31

THE ISLAND WATER ASSOCIATION INC, founded in 1965, is a community nonprofit that reported $7.3M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Net assets of $37.7M represent 62 months of operating reserves.

Mission

ISLAND WATER PRODUCES AND DISTRIBUTES POTABLE WATER TO SANIBEL AND CAPTIVA ISLANDS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $197,505

Program Service Revenue $7,115,715

Investment Income $-771,779

Other Revenue $785,936

TOTAL REVENUE $7,327,377

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,447,788

Fundraising Expenses $0

Program Expenses $6,017,822

Other Expenses $4,291,456

TOTAL EXPENSES $7,739,244

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,327,377	$8,339,546	-0.1%
Expenses	$7,739,244	$6,858,784	+0.1%
Net Income	$-411,867	$1,480,762	-1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$406,967

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE BORIS	PRESIDENT	5.00	Officer Director	$0	$0	$0
KATHLEEN SERGEANT	VICE PRESIDENT/SECRETARY	3.00	Officer Director	$0	$0	$0
JOHN SCHMIDLIN	VICE PRESIDENT/TREASURER	3.00	Officer Director	$0	$0	$0
DONALD RICE	VICE PRESIDENT THRU 04/24	2.00	Officer Director	$0	$0	$0
LAURA DEBRUCE	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
MARK KOELMEL	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
DIANA WILSON	GENERAL MANAGER	40.00	Officer	$223,130	$55,225	$278,355
STEVEN DOVER	CONTROLLER/BUSINESS MANAGER	40.00	Officer	$97,617	$30,995	$128,612
PATRICK HENRY	PRODUCTION MANAGER	40.00	Highest	$140,036	$38,817	$178,853
THEODORE BROWN	CONSTRUCTION COORDINATOR	40.00	Highest	$105,176	$25,870	$131,046

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$7,327,377	$7,739,244	$39,397,405	$-411,867
2023	$8,339,546	$6,858,784	$39,643,837	$1,480,762
2022	$6,984,257	$6,858,531	$39,042,649	$125,726
2021	$8,170,096	$6,167,742	$37,970,400	$2,002,354
2020	$7,987,930	$6,307,417	$36,328,500	$1,680,513
2019	$8,223,036	$6,552,544	$36,614,400	$1,670,492
2018	$7,935,010	$7,144,607	$35,224,600	$790,403

THE ISLAND WATER ASSOCIATION INC