THORN WATER ASSOCIATION INC (EIN 640623713) - 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

1981

Legal Domicile

Principal Officer

STEVE PETTIT

Phone

6624563334

Tax Period

2024-07-01 to 2025-06-30

THORN WATER ASSOCIATION INC, founded in 1981, is a small nonprofit in the Public & Societal Benefit sector that reported $379K in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $222K, a strong 58% operating margin.

Mission

PROVIDE WATER TO RURAL HOMEOWNERS FARMS AND BUSINESSES

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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 $347,888

Investment Income $31,500

Other Revenue $0

TOTAL REVENUE $379,388

Expense Breakdown

Grants Paid $0

Salaries & Benefits $575

Fundraising Expenses $0

Program Expenses $157,470

Other Expenses $156,895

TOTAL EXPENSES $157,470

Year-over-Year Comparison

	2024	2023	Change
Revenue	$379,388	$304,550	+0.2%
Expenses	$157,470	$196,689	-0.2%
Net Income	$221,918	$107,861	+1.1%

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

N/A

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

$475

Total Directors

$100

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACKIE SUGGS	BOOKEEPER AND BILLING	15.00	Highest	$13,892	$0	$13,892
STEVE PETTIT	PRESIDENT	1.00	Officer	$125	$0	$125
JOEY FERGUSON	SECRETARY	0.50	Officer	$125	$0	$125
EDDIE WIGGS	DIRECTOR	0.50	Officer	$125	$0	$125
SUE ARD	DIRECTOR	0.50	Director	$100	$0	$100
MIKE LANGLEY	VICE PRES	0.50	Officer	$100	$0	$100

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	$379,388	$157,470	$1,767,242	$221,918
2024	$304,550	$196,689	$1,544,495	$107,861
2023	$237,439	$126,624	$1,435,571	$110,815
2022	$193,284	$168,691	$1,323,994	$24,593
2021	$182,081	$118,269	$1,298,402	$63,812
2020	$182,108	$238,721	$1,238,873	$-56,613
2019	$163,240	$102,084	$1,299,739	$61,156

THORN WATER ASSOCIATION INC