HARMONY WATER ASSOCIATION INC

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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

1966

Legal Domicile

Principal Officer

DARRICK MARSHALL

Phone

6017762593

Tax Period

2024-07-01 to 2025-06-30

HARMONY WATER ASSOCIATION INC, founded in 1966, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2024. The organization ran a surplus of $269K, a strong 16% operating margin.

Mission

PROVIDING WATER TO CUSTOMERS IN CERTAIN RURAL AREAS OF CLARKE COUNTY, MISSISSIPPI, INCLUDING THE COMMUNITY OF HARMONY, MISSISSIPPI.

Program Service Accomplishments

Program 1

Expenses: $317,645

DEPRECIATION EXPENSE - DEPRECIATION IS CLAIMED ON THE WATER DISTRIBUTION SYSTEM AND ALL EQUIPMENT REQUIRED TO MAINTIAN AND SERVICE THE WELL, DISTRIBUTION SYSTEM, AND TREATMENT FACILITY. DEPRECIATION...

Program 2

Expenses: $244,470

SALARIES EXPENSE - ALL EMPLOYEES OF THE ASSOCIATION WORK FOR THE BETTERMENT OF THE ASSOCIATION TO KEEP THE WELLS RUNNING AND SERVING ALL CUSTOMERS.

Program 3

Expenses: $123,509

INTEREST EXPENSE - HARMONY WATER ASSOCIATION, INC. COMPLETED A LARGE METER UPGRADING PROJECT. A LARGE PORTION OF THE REVENUE IS USED TO SERVICE THE DEBT TO THIS PROJECT.

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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 $1,417,480

Investment Income $168,273

Other Revenue $77,581

TOTAL REVENUE $1,663,334

Expense Breakdown

Grants Paid $0

Salaries & Benefits $353,411

Fundraising Expenses $0

Program Expenses $1,268,814

Other Expenses $1,040,804

TOTAL EXPENSES $1,394,215

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,663,334	$1,547,043	+0.1%
Expenses	$1,394,215	$1,324,960	+0.1%
Net Income	$269,119	$222,083	+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

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

$12,600

Total Directors

$31,485

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAULA COOKS	DIRECTOR	5.00	Director	$6,300	$0	$6,300
DONALD KEMP	DIRECTOR	5.00	Director	$6,300	$0	$6,300
DARRICK MARSHALL	PRESIDENT	5.00	Officer Director	$6,300	$0	$6,300
MICHAEL ROBINSON	VICE PRESIDE	5.00	Officer Director	$6,300	$0	$6,300
JEFF ARRINGTON	DIRECTOR	5.00	Director	$6,285	$0	$6,285

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	$1,663,334	$1,394,215	$7,447,270	$269,119
2024	$1,547,043	$1,324,960	$7,409,826	$222,083
2023	$1,323,608	$1,253,653	$6,603,064	$69,955
2022	$1,130,254	$1,243,313	$6,735,467	$-113,059
2021	$1,192,989	$1,121,333	$7,025,507	$71,656
2020	$1,159,097	$1,100,896	$7,151,511	$58,201
2019	$1,139,123	$1,088,055	$7,278,444	$51,068