HOMEWOOD WATER ASSOCIATION INC (EIN 640508855) - 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

1968

Legal Domicile

Principal Officer

DAVID FOREMAN

Phone

6015363269

Tax Period

2024-06-01 to 2025-05-31

HOMEWOOD WATER ASSOCIATION INC, founded in 1968, is a small nonprofit in the Public & Societal Benefit sector that reported $396K in total revenue in fiscal year 2024. Expenses of $336K left a modest 15% surplus.

Mission

PROVIDE WATER TO RURAL 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 $0

Program Service Revenue $389,688

Investment Income $5,930

Other Revenue $0

TOTAL REVENUE $395,618

Expense Breakdown

Grants Paid $0

Salaries & Benefits $20,536

Fundraising Expenses $0

Other Expenses $315,841

TOTAL EXPENSES $336,377

Year-over-Year Comparison

	2024	2023	Change
Revenue	$395,618	$398,313	0.0%
Expenses	$336,377	$332,579	+0.0%
Net Income	$59,241	$65,734	-0.1%

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

$17,556

Total Directors

$3,650

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID FOREMAN	PRESIDENT	3.00	Officer Director	$1,200	$0	$1,200
SUSAN SOREY	SECRETARY	20.00	Officer Highest	$15,056	$0	$15,056
JAMES HILL	DIRECTOR	1.00	Director	$450	$0	$450
MIKE SANDERS	DIRECTOR	1.00	Director	$250	$0	$250
JOHN ANDERSON	VICE-PRESIDENT	2.00	Officer Director	$900	$0	$900
JAMES WASH	DIRECTOR	1.00	Director	$450	$0	$450
LONNIE GRAY	DIRECTOR	1.00	Director	$400	$0	$400
MIKE GIBSON	DIRECTOR	1.00	Officer	$400	$0	$400

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	$395,618	$336,377	$1,984,556	$59,241
2024	$398,313	$332,579	$2,017,109	$65,734
2023	$357,351	$318,312	$2,034,759	$39,039
2022	$307,217	$301,570	$2,016,836	$5,647
2021	$304,584	$273,120	$1,722,489	$31,464
2020	$297,494	$323,060	$1,705,493	$-25,566
2019	$290,563	$270,145	$1,748,484	$20,418

HOMEWOOD WATER ASSOCIATION INC