GARRARD COUNTY WATER ASSOCIATION INC (EIN 610712154) - 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

SEAN SMITH

Phone

8597924501

Tax Period

2024-01-01 to 2024-12-31

GARRARD COUNTY WATER ASSOCIATION INC, founded in 1970, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $2.8M left a modest 6% surplus.

Mission

PROVISION OF WATER TO ASSOCIATION 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 $0

Program Service Revenue $2,700,805

Investment Income $235,226

Other Revenue $3,311

TOTAL REVENUE $2,939,342

Expense Breakdown

Grants Paid $0

Salaries & Benefits $604,963

Fundraising Expenses $0

Program Expenses $2,758,350

Other Expenses $2,153,387

TOTAL EXPENSES $2,758,350

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,939,342	$3,784,741	-0.2%
Expenses	$2,758,350	$2,411,435	+0.1%
Net Income	$180,992	$1,373,306	-0.9%

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

$131,691

Total Directors

$147,591

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT BALLARD	BOARD MEMBER	1.00	Director	$6,000	$0	$6,000
JENNY LYNN WHITTAKER	SEC-TREASURER / BOARD MBR	1.00	Officer Director	$6,000	$0	$6,000
FELIX REYNOLDS	VICE PRES / BOARD MEMBER	1.00	Officer Director	$3,600	$0	$3,600
BILLY DOOLIN	PRESIDENT / BOARD MEMBER	1.00	Officer Director	$6,000	$0	$6,000
GARY CLARK	BOARD MEMBER	1.00	Director	$4,400	$0	$4,400
WILLIAM OLIVER	BOARD MEMBER	1.00	Director	$5,500	$0	$5,500
SEAN SMITH	BOARD MEMBER AND MANAGER	40.00	Officer Director	$96,000	$20,091	$116,091

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	$2,939,342	$2,758,350	$20,243,855	$180,992
2023	$3,784,741	$2,411,435	$19,866,531	$1,373,306
2022	$2,655,995	$2,356,315	$15,899,437	$299,680
2021	$2,374,459	$2,288,971	$14,570,629	$85,488
2020	$2,443,894	$2,368,201	$15,625,057	$75,693
2019	$2,521,262	$2,403,083	$16,518,195	$118,179
2018	$3,127,756	$2,175,322	$16,816,501	$952,434

GARRARD COUNTY WATER ASSOCIATION INC