FLORIDA RURAL WATER ASSOCIATION INC (EIN 591934383) - 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

1979

Legal Domicile

Principal Officer

ALICIA KEETER

Phone

8506682746

Tax Period

2023-07-01 to 2024-06-30

FLORIDA RURAL WATER ASSOCIATION INC, founded in 1979, is a community nonprofit in the Public & Societal Benefit sector that reported $8.7M in total revenue in fiscal year 2023. Revenue surged 40% from the prior year, signaling strong growth momentum. Expenses of $8.4M left a modest 3% surplus.

Mission

TO ASSIST SMALL RURAL WATER AND WASTEWATER SYSTEMS WITH EVERY PHASE OF WATER AND WASTEWATER OPERATIONS THROUGH EDUATION, TRAINING AND TECHNICAL ASSISTANCE.

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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 $8,195,288

Program Service Revenue $355,397

Investment Income $136,998

Other Revenue $48,427

TOTAL REVENUE $8,736,110

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $3,471,394

Fundraising Expenses $0

Program Expenses $7,525,740

Other Expenses $4,962,421

TOTAL EXPENSES $8,439,815

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,736,110	$6,227,398	+0.4%
Expenses	$8,439,815	$5,904,296	+0.4%
Net Income	$296,295	$323,102	-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

$221,870

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY P WILLIAMS	EXECUTIVE DI	40.00	Officer	$192,656	$29,214	$221,870
STERLING CARROLL	ENGINEER	40.00	Highest	$113,705	$21,287	$134,992
BEN LEWIS	DEP. EXEC. D	40.00	Highest	$105,250	$28,281	$133,531
PATRICIA CICHON	DIRECTOR	2.00	Officer Director	$0	$0	$0
JOHN BOSTIC III	DIRECTOR	2.00	Director	$0	$0	$0
TOM JACKSON	DIRECTOR	2.00	Officer Director	$0	$0	$0
POONAM KALKAT	SECRETARY	2.00	Officer Director	$0	$0	$0
SCOTT KELLY	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
BRUCE MORRISON	PRESIDENT	40.00	Officer Director	$0	$0	$0
ROBERT MUNRO	NATIONAL DIR	2.00	Director	$0	$0	$0
MELISSA PILCHER	DIRECTOR	2.00	Director	$0	$0	$0
RANDY WILKERSON	DIRECTOR	2.00	Director	$0	$0	$0
ALICIA KEETER	EXECUTIVE DI	0.00	Officer	$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
2025	No data	No data	No data	No data
2024	$8,736,110	$8,439,815	$8,692,285	$296,295
2023	$6,227,398	$5,904,296	$7,327,573	$323,102
2022	$6,654,578	$5,772,590	$6,926,862	$881,988
2021	$5,484,792	$5,067,989	$5,953,852	$416,803
2020	$5,330,787	$5,059,075	$5,495,162	$271,712
2019	$4,231,169	$4,073,391	$5,098,083	$157,778
2018	$3,491,270	$3,216,011	$4,944,976	$275,259

FLORIDA RURAL WATER ASSOCIATION INC