NORTH LAMAR WATER ASSOCIATION (EIN 640442367) - 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

1965

Legal Domicile

Principal Officer

JIM PARISH

Phone

6012641157

Tax Period

2024-01-01 to 2024-12-31

NORTH LAMAR WATER ASSOCIATION, founded in 1965, is a community nonprofit that reported $3.9M in total revenue in fiscal year 2024. Revenue surged 94% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.4M, a strong 61% operating margin.

Mission

WATER SALES - UTILITY COMPANY

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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 $1,636,794

Investment Income $83,844

Other Revenue $2,161,194

TOTAL REVENUE $3,881,832

Expense Breakdown

Grants Paid $0

Salaries & Benefits $317,530

Fundraising Expenses $0

Program Expenses $1,320,178

Other Expenses $1,189,081

TOTAL EXPENSES $1,506,611

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,881,832	$1,996,829	+0.9%
Expenses	$1,506,611	$1,522,196	0.0%
Net Income	$2,375,221	$474,633	+4.0%

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
JIM PARISH	PRESIDENT	2.00	Officer Director	$0	$0	$0
TIMOTHY GOGGANS	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
ETHAN GOGGANS	SECRETARY-TREASURER	2.00	Officer Director	$0	$0	$0
BRADLEY WARD	MEMBER	2.00	Director	$0	$0	$0
MARTIN BATEMAN	MEMBER	2.00	Director	$0	$0	$0
HERMAN NORTON	MEMBER	2.00	Director	$0	$0	$0
JOEY FORD	MEMBER	2.00	Director	$0	$0	$0
COLTON MCMURRY	MEMBER	2.00	Director	$0	$0	$0
MICHAEL NORTON	MEMBER	2.00	Director	$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	$3,881,832	$1,506,611	$11,615,327	$2,375,221
2023	$1,996,829	$1,522,196	$8,939,108	$474,633
2022	$1,375,540	$1,136,977	$8,468,899	$238,563
2021	$1,357,088	$1,137,793	$8,141,120	$219,295
2020	$1,250,490	$1,206,882	$4,569,578	$43,608
2019	$1,186,077	$1,064,878	$4,260,985	$121,199
2018	$1,105,055	$1,002,697	$4,128,627	$102,358

NORTH LAMAR WATER ASSOCIATION