CHARLOTTE HARBOR WATER ASSOCIATION… - Form 990 Financial Data

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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

1964

Legal Domicile

Principal Officer

STEVEN KOULIS

Phone

9416252288

Tax Period

2024-01-01 to 2024-12-31

CHARLOTTE HARBOR WATER ASSOCIATION INC, founded in 1964, is a community nonprofit that reported $3.7M in total revenue in fiscal year 2024. Revenue surged 33% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.3M, a strong 34% operating margin.

Mission

TO PROVIDE SAFE, CLEAN, SPARKLING WATER TO ALL OF OUR RESIDENTS.

Program Service Accomplishments

Program 1

Expenses: $2,470,320

PROVIDES PURIFIED WATER AND WATER LINE TO OVER 2,300 ACCOUNTS IN THE ASSOCIATION. ALL EXPENSES ARE USED IN PROVIDING WATER SERVICES TO ASSOCIATION MEMBERS.

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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 $0

Program Service Revenue $3,454,785

Investment Income $279,261

Other Revenue $1,092

TOTAL REVENUE $3,735,138

Expense Breakdown

Grants Paid $0

Salaries & Benefits $995,626

Fundraising Expenses $0

Program Expenses $2,470,320

Other Expenses $1,474,694

TOTAL EXPENSES $2,470,320

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,735,138	$2,815,438	+0.3%
Expenses	$2,470,320	$2,318,458	+0.1%
Net Income	$1,264,818	$496,980	+1.5%

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

N/A

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

$196,995

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN KOULIS	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
JAMES BOWRA	SECRETARY	2.00	Officer Director	$0	$0	$0
LEROY PHILLIPS	TREASURER	2.00	Officer Director	$0	$0	$0
HAROLD ROSE II	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN VIEIRA	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT A BAKER	SUPERINTENDENT	40.00	Officer	$149,000	$47,995	$196,995

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	$3,735,138	$2,470,320	$31,166,727	$1,264,818
2023	$2,815,438	$2,318,458	$22,495,764	$496,980
2022	$2,079,912	$2,069,435	$21,679,641	$10,477
2021	$2,046,597	$1,589,809	$13,139,549	$456,788
2020	$1,928,909	$1,403,006	$7,010,294	$525,903
2019	$1,494,108	$1,423,333	$4,620,083	$70,775
2018	$1,210,839	$1,438,596	$4,187,030	$-227,757

CHARLOTTE HARBOR WATER ASSOCIATION INC