HOLLEY-NAVARRE WATER SYSTEM (EIN 591360196) - 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

1970

Legal Domicile

Principal Officer

DAVID CRUMBLEY

Phone

8509392427

Tax Period

2023-01-01 to 2023-12-31

HOLLEY-NAVARRE WATER SYSTEM, founded in 1970, is a mid-sized nonprofit that reported $14.6M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $2.7M, a strong 19% operating margin.

Mission

TO PROVIDE WATER & SEWER SERVICES TO CUSTOMERS IN THE HOLLEY & NAVARRE AREAS OF SANTA ROSA COUNTY, FLORIDA.

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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 $401,071

Program Service Revenue $13,064,694

Investment Income $288,773

Other Revenue $860,852

TOTAL REVENUE $14,615,390

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,859,554

Fundraising Expenses $0

Other Expenses $6,039,461

TOTAL EXPENSES $11,899,015

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,615,390	$12,713,265	+0.1%
Expenses	$11,899,015	$10,972,757	+0.1%
Net Income	$2,716,375	$1,740,508	+0.6%

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

$234,577

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK MILLER	PRESIDENT	1.00	Officer Director	$0	$0	$0
MIKE MATHEWS	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BILL THIEL	SECRETARY	1.00	Officer Director	$0	$0	$0
JOE CAMPBELL	TREASURER	1.00	Director	$0	$0	$0
DAVID CRUMBLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
DON LINNELL	BOARD MEMBER	1.00	Director	$0	$0	$0
DARYL LYNCHARD	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES DABNEY	BOARD MEMBER	1.00	Director	$0	$0	$0
BARBARA CARAWAN	DIRECTOR OF FINANCE	28.60	Officer	$71,503	$193	$71,696
JEFF CRIGLER	CEO	40.00	Officer	$130,849	$32,032	$162,881
MARK TURNER	DIRECTOR OF SCADA	40.00	Highest	$110,774	$28,777	$139,551
CLINTON WELLS	GM, OPERATIONS AND MAINT	40.00	Highest	$123,867	$38,355	$162,222
CHRIS LEGG	WWTPO MANAGER	40.00	Highest	$104,489	$37,057	$141,546

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	No data	No data	No data	No data
2023	$14,615,390	$11,899,015	$79,263,347	$2,716,375
2022	$12,713,265	$10,972,757	$75,445,705	$1,740,508
2021	$12,282,279	$11,493,538	$73,632,093	$788,741
2020	$12,446,675	$10,389,115	$72,562,746	$2,057,560
2019	$11,711,614	$9,881,610	$69,316,707	$1,830,004
2018	$10,888,826	$9,775,212	$67,137,368	$1,113,614

HOLLEY-NAVARRE WATER SYSTEM