Rowan Water Inc (EIN 610701413) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1968

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

Rowan Water Inc, founded in 1968, is a community nonprofit that reported $4.2M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $4.0M left a modest 3% surplus.

Mission

PROVIDE WATER SERVICE TO RESIDENTS IN THE ROWAN COUNTY AREA

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,798,419

Investment Income $210,636

Other Revenue $172,066

TOTAL REVENUE $4,181,121

Expense Breakdown

Grants Paid $0

Salaries & Benefits $947,464

Fundraising Expenses $0

Program Expenses $3,194,039

Other Expenses $3,090,734

TOTAL EXPENSES $4,038,198

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,181,121	$3,360,125	+0.2%
Expenses	$4,038,198	$3,665,617	+0.1%
Net Income	$142,923	$-305,492	-1.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$18,435

Total Directors

$16,907

Key Employees

$72,084

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jerry Patrick	General Manager	40.00	Key Emp	$72,084	$0	$72,084
Larry Johnson	President	3.00	Officer Director	$6,535	$0	$6,535
Mike Collins	Secretary Treasurer	3.00	Officer	$6,535	$0	$6,535
Randy Cox	Member	3.00	Director	$5,365	$0	$5,365
Enoch Blair	Vice President	3.00	Officer	$5,365	$0	$5,365
Duane DeHart	Member	3.00	Director	$5,007	$0	$5,007

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	$4,181,121	$4,038,198	$11,907,830	$142,923
2022	$3,360,125	$3,665,617	$11,873,855	$-305,492
2021	$3,336,690	$3,698,435	$12,516,222	$-361,745
2020	$3,560,063	$3,477,304	$12,975,513	$82,759
2019	$3,164,780	$3,626,558	$11,808,610	$-461,778
2018	$3,474,298	$3,394,721	$12,242,346	$79,577

Rowan Water Inc