Inlet Beach Water System Inc (EIN 591222680) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1967

Legal Domicile

Principal Officer

Ernest Clark

Phone

8502314498

Tax Period

2023-07-01 to 2024-06-30

INLET BEACH WATER SYSTEM INC, founded in 1967, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2018. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $180K, a strong 17% operating margin.

Mission

Provide water & sewer service to rural households

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,966,946

Investment Income $114,035

Other Revenue $55,840

TOTAL REVENUE $2,136,821

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $2,109,167

TOTAL EXPENSES $2,109,167

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,136,821	$1,595,977	+0.3%
Expenses	$2,109,167	$1,559,340	+0.4%
Net Income	$27,654	$36,637	-0.2%

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

N/A

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
Ernest Clark	President	10.00	Officer Director	$0	$0	$0
Steadman Shealy Jr	Member	0.50	Director	$0	$0	$0
Mark Whitlow	Member	0.50	Director	$0	$0	$0
Judy Harris	Member	0.50	Director	$0	$0	$0
Bryan Corr	Member	0.50	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	$2,136,821	$2,109,167	$7,199,268	$27,654
2023	$1,595,977	$1,559,340	$7,235,347	$36,637
2022	$1,963,066	$1,436,346	$7,144,736	$526,720
2021	$1,545,150	$909,417	$6,959,654	$635,733
2020	$1,386,021	$827,601	$6,328,969	$558,420
2019	$1,065,642	$886,066	$5,699,838	$179,576

Inlet Beach Water System Inc