BELFOREST WATER SYSTEM INC (EIN 630649171) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1972

Legal Domicile

Principal Officer

CHARLES DUBE

Phone

2516265554

Tax Period

2025-01-01 to 2025-12-31

BELFOREST WATER SYSTEM INC, founded in 1972, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2018. Revenue grew 13% year-over-year, indicating healthy expansion. The organization ran a surplus of $763K, a strong 32% operating margin.

Mission

TO PROVIDE WATER SERVICE TO THE COMMUNITY OF BELFOREST IN BALDWIN COUNTY, ALABAMA

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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%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,888,582

Investment Income $-484,715

Other Revenue $505,876

TOTAL REVENUE $4,909,743

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,482,840

Fundraising Expenses $0

Program Expenses $3,573,237

Other Expenses $2,879,248

TOTAL EXPENSES $4,362,088

Year-over-Year Comparison

	2025	2024	Change
Revenue	$4,909,743	$5,076,930	0.0%
Expenses	$4,362,088	$3,355,600	+0.3%
Net Income	$547,655	$1,721,330	-0.7%

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

$9,250

Total Directors

$14,050

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLES DUBE	PRESIDENT	2.00	Officer Director	$3,300	$0	$3,300
ANTHONY PIERCE	MEMBER	1.00	Director	$2,400	$0	$2,400
PATRICK HEITER	VICE PRESIDENT	1.00	Officer Director	$2,750	$0	$2,750
DON JOFFE	MEMBER	1.00	Director	$2,400	$0	$2,400
MICHAEL METZ	SECRETARY	1.00	Officer Director	$3,200	$0	$3,200
CORLEY	LAUDERDALE	40.00	Highest	$136,759	$8,372	$145,131
GARY	MCMILLAN	40.00	Highest	$159,932	$9,880	$169,812

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	$4,909,743	$4,362,088	$30,455,441	$547,655
2024	$5,076,930	$3,355,600	$30,360,315	$1,721,330
2023	$4,063,774	$2,271,670	$25,986,872	$1,792,104
2022	$3,622,088	$2,321,018	$19,102,556	$1,301,070
2021	$3,578,733	$2,249,324	$16,714,565	$1,329,409
2020	$3,586,272	$2,117,291	$14,889,126	$1,468,981
2019	$3,271,433	$2,132,989	$13,867,755	$1,138,444
2018	$2,401,486	$1,638,371	$13,247,727	$763,115

BELFOREST WATER SYSTEM INC