HARRISON COUNTY WATER ASSOCIATION … - Form 990 Financial Data

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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

1965

Legal Domicile

Principal Officer

J FRANK MARSH

Phone

8592344284

Tax Period

2024-01-01 to 2024-12-31

HARRISON COUNTY WATER ASSOCIATION INC, founded in 1965, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Net assets of $10.1M represent 30 months of operating reserves.

Mission

TO DELIVER WATER TO CUSTOMERS IN THE COUNTIES SERVED BY THE ASSOCIATION.

Program Service Accomplishments

Program 1

Expenses: $3,666,667 Revenue: $3,842,211

SALES OF WATER TO RESIDENTS AND COMMERCIAL BUSINESSES OF HARRISON COUNTY, BOURBON COUNTY, NICHOLAS COUNTY, PENDLETON COUNTY, AND SCOTT COUNTY, KENTUCKY

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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 $92,840

Program Service Revenue $3,828,754

Investment Income $75,483

Other Revenue $0

TOTAL REVENUE $3,997,077

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,044,727

Fundraising Expenses $0

Program Expenses $3,666,667

Other Expenses $3,080,884

TOTAL EXPENSES $4,125,611

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,997,077	$3,423,905	+0.2%
Expenses	$4,125,611	$3,764,727	+0.1%
Net Income	$-128,534	$-340,822	-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

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

$108,982

Total Directors

$20,775

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
J FRANK MARSCH	PRESIDENT	20.00	Officer Director	$3,600	$0	$3,600
GARY CARTER	VICE-PRESIDENT	20.00	Officer Director	$2,700	$0	$2,700
LEWIS B FURNISH	TREASURER	20.00	Officer Director	$3,600	$0	$3,600
PATTY HANNA	SECRETARY	20.00	Officer Director	$3,000	$0	$3,000
CHRISTOPHER HARRIS	MEMBER	20.00	Director	$2,700	$0	$2,700
MICHAEL FULLER	MEMBER	20.00	Director	$900	$0	$900
PAUL WILSON	MEMBER	20.00	Director	$1,575	$0	$1,575
LINCOLN CLIFFORD	MEMBER	20.00	Director	$2,700	$0	$2,700
NATHAN FIELDS	GENERAL MANAGER	40.00	Officer	$96,082	$0	$96,082

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	$3,997,077	$4,125,611	$11,677,283	$-128,534
2023	$3,423,905	$3,764,727	$11,693,854	$-340,822
2022	$3,368,849	$3,357,682	$12,198,959	$11,167
2021	$3,004,781	$3,012,070	$12,165,812	$-7,289
2020	$3,105,529	$3,082,721	$12,115,149	$22,808
2019	$2,942,192	$2,866,318	$12,093,168	$75,874
2018	$2,895,223	$2,710,804	$12,116,051	$184,419

HARRISON COUNTY WATER ASSOCIATION INC