FARM HILL UTILITIES INC (EIN 591167567) - 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

KERRY GLEN WELFORD

Phone

8509682573

Tax Period

2023-10-01 to 2024-09-30

FARM HILL UTILITIES INC, founded in 1965, is a community nonprofit in the Mutual Benefit sector that reported $1.7M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $442K, a strong 26% operating margin.

Mission

RURAL COMMUNITY WATER SERVICES

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,670,324

Investment Income $51,053

Other Revenue $2,800

TOTAL REVENUE $1,724,177

Expense Breakdown

Grants Paid $0

Salaries & Benefits $609,741

Fundraising Expenses $0

Other Expenses $672,780

TOTAL EXPENSES $1,282,521

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,724,177	$1,543,768	+0.1%
Expenses	$1,282,521	$1,138,009	+0.1%
Net Income	$441,656	$405,759	+0.1%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KERRY GLEN WELFORD	PRESIDENT	1.00	Director	$0	$0	$0
STEPHEN NESHEM	VICE PRESIDE	1.00	Director	$0	$0	$0
JERRY JONES	SECRETARY	1.00	Director	$0	$0	$0
MIKE COVAL	TREASURER	1.00	Director	$0	$0	$0
DOUGLAS MARTIN	MEMBER	1.00	Director	$0	$0	$0

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	$1,724,177	$1,282,521	$5,667,934	$441,656
2023	$1,543,768	$1,138,009	$4,704,198	$405,759
2022	$1,475,776	$1,031,645	$4,160,746	$444,131
2021	$1,317,940	$913,033	$3,618,471	$404,907
2019	$1,317,599	$1,013,933	$2,520,441	$303,666

FARM HILL UTILITIES INC