South Mississippi Public Water Authority (EIN 640466847) - 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

1992

Legal Domicile

Principal Officer

Beverly S Franks

Tax Period

2024-08-01 to 2025-07-31

South Mississippi Public Water Authority, founded in 1992, is a small nonprofit that reported $341K in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $58K, a strong 17% operating margin.

Mission

Provide Water to McLaurin Community

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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 $3,703

Program Service Revenue $332,717

Investment Income $4,959

Other Revenue $0

TOTAL REVENUE $341,379

Expense Breakdown

Grants Paid $0

Salaries & Benefits $59,076

Fundraising Expenses $0

Program Expenses $283,466

Other Expenses $224,390

TOTAL EXPENSES $283,466

Year-over-Year Comparison

	2024	2023	Change
Revenue	$341,379	$300,328	+0.1%
Expenses	$283,466	$299,554	-0.1%
Net Income	$57,913	$774	+73.8%

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
Rod Bosarge	Board Member	003.00	Officer	$0	$0	$0
Charles Sims	Board Member	003.00	Officer	$0	$0	$0
Corley Morse	Board Member	003.00	Officer	$0	$0	$0
Howie Cowart	Board Member	003.00	Officer	$0	$0	$0
Charles Letchworth	Board Member	003.00	Officer	$0	$0	$0
Sue Franks	Office Manager	030.00	Highest	$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
2025	$341,379	$283,466	$2,824,706	$57,913
2024	$300,328	$299,554	$2,787,773	$774
2023	$248,697	$254,562	$2,785,611	$-5,865
2022	$260,294	$305,898	$2,785,467	$-45,604
2021	$257,229	$277,737	$2,825,733	$-20,508
2020	$244,399	$277,275	$2,891,004	$-32,876

South Mississippi Public Water Authority