GASPARILLA ISLAND WATER ASSOCIATION INC (EIN 591204602) - 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

1966

Legal Domicile

Principal Officer

JERRY EDGERTON

Phone

9419642423

Tax Period

2024-10-01 to 2025-09-30

GASPARILLA ISLAND WATER ASSOCIATION INC, founded in 1966, is a community nonprofit that reported $9.0M in total revenue in fiscal year 2024. The organization ran a surplus of $2.3M, a strong 25% operating margin.

Mission

TO CONSTRUCT, MAINTAIN, AND OPERATE A WATER SYSTEM FOR THE SUPPLYING OF WATER FOR DOMESTIC, COMMERCIAL, AGRICULTURAL, INDUSTRIAL, AND OTHER PURPOSES TO ITS MEMBERS AND TO CONSTRUCT, MAINTAIN, AND OPERATE A SEWAGE DISPOSAL SYSTEM FOR THE USE AND BENEFIT OF ITS 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 $288,840

Program Service Revenue $8,232,840

Investment Income $444,655

Other Revenue $50,109

TOTAL REVENUE $9,016,444

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,114,369

Fundraising Expenses $0

Other Expenses $4,641,189

TOTAL EXPENSES $6,755,558

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,016,444	$8,527,221	+0.1%
Expenses	$6,755,558	$6,079,247	+0.1%
Net Income	$2,260,886	$2,447,974	-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

$215,080

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JERRY EDGERTON	PRESIDENT	2.00	Officer Director	$0	$0	$0
WILLIAM CALDWELL	VICE-PRESIDENT	2.00	Officer Director	$0	$0	$0
PHILLIP ELBERT	TREASURER	2.00	Officer Director	$0	$0	$0
MICHELLE PATENAUDE	SECRETARY	2.00	Officer Director	$0	$0	$0
CHRISTA SCULLEY	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW FOX	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY SCOTT	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS JOHNSTON	DIRECTOR	1.00	Director	$0	$0	$0
MARK CAMPISANO	DIRECTOR	2.00	Director	$0	$0	$0
RONALD L BOLTON	UTILITY DIRECTOR	40.00	Officer	$193,265	$21,815	$215,080

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
2025	$9,016,444	$6,755,558	$45,180,904	$2,260,886
2024	$8,527,221	$6,079,247	$43,286,980	$2,447,974
2023	$7,711,203	$5,803,017	$41,777,542	$1,908,186
2022	$6,839,429	$5,272,860	$40,821,701	$1,566,569
2021	$6,664,127	$4,804,819	$33,973,495	$1,859,308
2020	$6,057,997	$4,504,460	$29,096,623	$1,553,537
2019	$5,523,467	$4,604,588	$22,857,081	$918,879
2018	$4,937,776	$3,906,077	$20,399,088	$1,031,699

GASPARILLA ISLAND WATER ASSOCIATION INC