LAKE CITY WATER ASSOCIATION (EIN 640591602) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1972

Principal Officer

REGINA HOOVER

Phone

6627462189

Tax Period

2023-01-01 to 2023-12-31

LAKE CITY WATER ASSOCIATION, founded in 1972, is a small nonprofit that reported $315K in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. Net assets of $665K represent 25 months of operating reserves.

Mission

DISTRIBUTION OF WATER AND SEWER TO MEMBERS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $294,401

Investment Income $3,633

Other Revenue $17,346

TOTAL REVENUE $315,380

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $317,926

TOTAL EXPENSES $317,926

Year-over-Year Comparison

	2023	2022	Change
Revenue	$315,380	$284,511	+0.1%
Expenses	$317,926	$306,826	+0.0%
Net Income	$-2,546	$-22,315	-0.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

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
KRIK ERICKSON	DIRECTOR	N/A	Officer	$0	$0	$0
THOMAS JONES	DIRECTOR	N/A	Officer	$0	$0	$0
ED JORDON	VICE PRESIDE	N/A	Officer	$0	$0	$0
VAL NEAL	DIRECTOR	N/A	Officer	$0	$0	$0
RUSTY NIXON	DIRECTOR	N/A	Officer	$0	$0	$0
DENNY PAUL	SECRETARY/TR	N/A	Officer	$0	$0	$0
HARRY SIMMONS	PRESIDENT	N/A	Officer	$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
2024	No data	No data	No data	No data
2023	$315,380	$317,926	$837,822	$-2,546
2022	$278,531	$322,283	$777,847	$-43,752
2022	$284,511	$306,826	$821,691	$-22,315
2021	$246,308	$313,213	$829,771	$-66,905
2020	$242,701	$296,736	$918,638	$-54,035
2019	$234,194	$318,565	$981,902	$-84,371
2018	$253,190	$304,010	$1,077,093	$-50,820

LAKE CITY WATER ASSOCIATION