LORMAN WATERWORKS ASSOCIATION INC (EIN 640438489) - 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

1963

Legal Domicile

Principal Officer

TRACY COLLINS

Phone

6014374006

Tax Period

2022-07-01 to 2023-06-30

LORMAN WATERWORKS ASSOCIATION INC, founded in 1963, is a small nonprofit that reported $400K in total revenue in fiscal year 2022. Revenue surged 21% from the prior year, signaling strong growth momentum. Expenses of $483K exceeded revenue, resulting in a 21% operating deficit.

Mission

THE ORGANIZATION IS A RURAL WATER ASSOCIATION PROVIDING WATER TO AREAS OF JEFFERSON AND CLAIBORNE COUNTIES IN SOUTHWEST MISSISSIPPI.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $399,267

Investment Income $1,132

Other Revenue $5

TOTAL REVENUE $400,404

Expense Breakdown

Grants Paid $0

Salaries & Benefits $119,978

Fundraising Expenses $0

Program Expenses $410,266

Other Expenses $363,048

TOTAL EXPENSES $483,026

Year-over-Year Comparison

	2022	2021	Change
Revenue	$400,404	$330,168	+0.2%
Expenses	$483,026	$552,599	-0.1%
Net Income	$-82,622	$-222,431	-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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOMMY BASS	DIRECTOR	N/A	Officer	$0	$0	$0
TRACY COLLINS	PRESIDENT	N/A	Officer	$0	$0	$0
ARTHUR DAVIS	VICE PRESIDE	N/A	Officer	$0	$0	$0
WARREN ELLIS	DIRECTOR	N/A	Officer	$0	$0	$0
DIETRA MARSHALL	SECRETARY	N/A	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
2023	$400,404	$483,026	$2,415,044	$-82,622
2022	$330,168	$552,599	$2,532,443	$-222,431
2021	$351,004	$517,859	$2,380,732	$-166,855
2020	$338,084	$421,093	$2,488,347	$-83,009
2019	$351,409	$372,035	$2,598,597	$-20,626
2018	$367,291	$396,016	$2,544,183	$-28,725

LORMAN WATERWORKS ASSOCIATION INC