ALCORN COUNTY 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

1971

Legal Domicile

Principal Officer

KEITH STEVENS

Phone

6622866689

Tax Period

2023-07-01 to 2024-06-30

ALCORN COUNTY WATER ASSOCIATION INC, founded in 1971, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. The organization ran a surplus of $237K, a strong 16% operating margin.

Mission

CONSTRUCTION AND OPERATION OF A RURAL WATERWORKS SYSTEM FOR RESIDENTS OF SELECTED AREAS OF ALCORN AND TISHOMINGO COUNTIES, MISSISSIPPI

Program Service Accomplishments

Program 1

THE ASSOCIATION PROVIDED WATER SERVICE TO APPROXIMATELY 2,486 CUSTOMERS IN RURAL ALCORN AND TISHOMINGO COUNTIES

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,426,331

Investment Income $53,939

Other Revenue $0

TOTAL REVENUE $1,480,270

Expense Breakdown

Grants Paid $0

Salaries & Benefits $332,514

Fundraising Expenses $0

Other Expenses $910,617

TOTAL EXPENSES $1,243,131

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,480,270	$1,682,688	-0.1%
Expenses	$1,243,131	$1,109,839	+0.1%
Net Income	$237,139	$572,849	-0.6%

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

$4,200

Total Directors

$6,600

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH STEVENS	PRESIDENT	2.00	Officer Director	$1,500	$0	$1,500
MARK CONNER	VICE PRESIDE	2.00	Officer Director	$1,200	$0	$1,200
GARY KITCHENS	SECRETARY/TR	2.00	Officer Director	$1,500	$0	$1,500
JACKY ROWSEY	DIRECTOR	2.00	Director	$1,200	$0	$1,200
CHUCK BULLOCK	DIRECTOR	2.00	Director	$1,200	$0	$1,200

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	No data	No data	No data	No data
2024	$1,480,270	$1,243,131	$8,110,318	$237,139
2023	$1,682,688	$1,109,839	$7,374,082	$572,849
2022	$1,636,635	$1,070,080	$4,957,691	$566,555
2021	$1,026,250	$894,392	$4,423,032	$131,858
2020	$990,461	$938,571	$4,343,220	$51,890
2019	$970,205	$945,455	$4,304,714	$24,750