FRIENDSHIP COMMUNITY WATER SYSTEM (EIN 640692612) - 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

1974

Legal Domicile

Principal Officer

WAYNE BUSBY

Phone

6012493502

Tax Period

2024-01-01 to 2024-12-31

FRIENDSHIP COMMUNITY WATER SYSTEM, founded in 1974, is a small nonprofit in the Mutual Benefit sector that reported $507K in total revenue in fiscal year 2024. Net assets of $3.0M represent 70 months of operating reserves.

Mission

RURAL WATER ASSOCIATION

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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 $497,688

Investment Income $9,758

Other Revenue $0

TOTAL REVENUE $507,446

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $523,449

TOTAL EXPENSES $523,449

Year-over-Year Comparison

	2024	2023	Change
Revenue	$507,446	$509,002	0.0%
Expenses	$523,449	$423,911	+0.2%
Net Income	$-16,003	$85,091	-1.2%

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

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

$3,600

Total Directors

$8,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WAYNE BUSBY	PRESIDENT	2.00	Officer Director	$1,200	$0	$1,200
LAVAUGHN HAMILTON	DIRECTOR	1.00	Director	$1,200	$0	$1,200
BOBBY MCKENNIS	VICE PRESIDENT	2.00	Officer Director	$1,200	$0	$1,200
GENE NORMAN	DIRECTOR	1.00	Director	$1,200	$0	$1,200
DOUGLAS J SWARTS	DIRECTOR	1.00	Director	$1,200	$0	$1,200
JANEKWA BROWN	SECRETARY	2.00	Officer Director	$1,200	$0	$1,200
DEBBIE HERING	DIRECTOR	1.00	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
2024	$507,446	$523,449	$4,642,928	$-16,003
2023	$509,002	$423,911	$3,753,546	$85,091
2022	$505,439	$457,675	$2,346,857	$47,764
2021	$510,779	$418,119	$2,215,649	$92,660
2020	$492,359	$470,400	$2,107,688	$21,959
2019	$478,751	$432,613	$2,106,324	$46,138
2018	$469,159	$319,276	$2,030,314	$149,883

FRIENDSHIP COMMUNITY WATER SYSTEM