FARMINGTON WATER ASSOCIATION INC (EIN 640475693) - 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

Principal Officer

CLAYTON YOUNG

Phone

6622862815

Tax Period

2024-07-01 to 2025-06-30

FARMINGTON WATER ASSOCIATION INC is a community nonprofit that reported $2.0M in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. Expenses of $1.8M left a modest 12% surplus.

Mission

PROVIDES WATER SERVICES TO APPROXIMATELY 2600 CUSTOMERS IN ALCORN COUNTY, 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 (2024)

Revenue Breakdown

Contributions & Grants $752,569

Program Service Revenue $1,275,704

Investment Income $18,806

Other Revenue $0

TOTAL REVENUE $2,047,079

Expense Breakdown

Grants Paid $0

Salaries & Benefits $522,570

Fundraising Expenses $0

Other Expenses $1,287,009

TOTAL EXPENSES $1,809,579

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,047,079	$1,232,548	+0.7%
Expenses	$1,809,579	$1,377,815	+0.3%
Net Income	$237,500	$-145,267	-2.6%

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

$38,000

Total Directors

$38,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLAYTON YOUNG	PRESIDENT	40.00	Officer Director	$38,000	$0	$38,000
DAVID BASS	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
JERRY MILLER	SECRETARY/TR	2.00	Officer Director	$0	$0	$0
KIM BINGHAM	DIRECTOR	2.00	Director	$0	$0	$0
PHIL HENSON	DIRECTOR	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
2025	$2,047,079	$1,809,579	$4,345,549	$237,500
2024	$1,232,548	$1,377,815	$4,220,845	$-145,267
2023	$1,113,749	$1,243,012	$4,495,148	$-129,263
2021	$1,023,599	$980,147	$4,489,313	$43,452
2020	$992,768	$988,588	$3,806,391	$4,180
2019	$977,593	$941,649	$3,863,986	$35,944
2018	$1,427,392	$889,528	$3,924,615	$537,864

FARMINGTON WATER ASSOCIATION INC