PETERSON WATER SYSTEMS INC

EIN: 630590089

PETERSON, AL

Total Revenue
$1,036,213
Total Expenses
$696,475
Total Assets
$1,665,112
Net Assets
$1,379,559
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
AL
Phone
2055567785
Tax Period
2024-01-01 to 2024-12-31

PETERSON WATER SYSTEMS INC, founded in 1969, is a small nonprofit that reported $402K in total revenue in fiscal year 2018. Net assets of $885K represent 26 months of operating reserves.

Mission

THE SYSTEM PROVIDES DRINKING WATER TO OVER 600 RESIDENTS AND BUSINESSES. IT IS A COMMUNITY WATER SYSTEM.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $475,895
Program Service Revenue $556,964
Investment Income $3,354
Other Revenue $0
TOTAL REVENUE $1,036,213

Expense Breakdown

Grants Paid $0
Salaries & Benefits $57,612
Fundraising Expenses $0
Program Expenses $696,475
Other Expenses $638,863
TOTAL EXPENSES $696,475

Year-over-Year Comparison

2024 2023 Change
Revenue $1,036,213 $827,871 +0.3%
Expenses $696,475 $546,182 +0.3%
Net Income $339,738 $281,689 +0.2%
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

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Governance

Voting Members
3
Independent Members
3
Employees
3
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
3
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TOMMY JONES VICE PRESIDENT 1.00
Officer
$0 $0 $0
PAUL COOK DIRECTOR 2.00
Officer
$0 $0 $0
DENNIS SELLERS PRESIDENT 5.00
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
2024 $1,036,213 $696,475 $1,665,112 $339,738
2023 $827,871 $546,182 $1,130,972 $281,689
2022 $525,965 $552,570 $851,752 $-26,605
2021 $472,922 $512,029 $866,064 $-39,107
2020 $460,496 $505,944 $895,288 $-45,448
2019 $420,472 $436,339 $981,023 $-15,867
2018 $401,843 $396,799 $1,045,780 $5,044
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