LAKE LORMAN UTILITY CORPORATION

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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

1976

Legal Domicile

Principal Officer

BILL GROTHE

Phone

6019811657

Tax Period

2024-11-01 to 2025-10-31

LAKE LORMAN UTILITY CORPORATION, founded in 1976, is a small nonprofit that reported $450K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $96K, a strong 21% operating margin.

Mission

TO MANAGE AND OPERATE A WATER AND SEWER SYSTEM THAT PROVIDES SERVICES TO BOTH RESIDENTIAL AND NON-RESIDENTIAL ENTITIES IN MADISON COUNTY, MISSISSIPPI THAT COMPLIES WITH ALL STATE AND FEDERAL STANDARDS GOVERNING DRINKING WATER AND WASTE DISPOSAL.

Program Service Accomplishments

Program 1

IN ADDITION TO PROVIDING WATER AND SEWER SERVICES TO OVER 200 CUSTOMERS IN MADISON COUNTY, MS, THE DISTRICT CONTINUED TO MAKE IMPROVEMENTS TO THE EXISTING SYSTEM TO BETTER PROVIDE FOR ITS CUSTOMERS. DURING THIS FISCAL YEAR, THE LAKE LORMAN UTILITY CORPORATION ACCOMPLISHED THE FOLLOWING: -ACHIEVED THE HIGHEST RATING OF "5" IN THE TECHNICAL, MANAGERIAL AND FINANCIAL CATEGORIES DURING THE ANNUAL AUDIT FROM THE MISSISSIPPI STATE DEPARTMENT OF HEALTH -COMPLETED PHASE 1 OF THE LAGOON IMPROVEMENT PROJECT - COMPLETED ALL REPAIRS AND UPGRADES OF THE WATER SYSTEM DAMAGE INCURRED FROM THE STORM DAMAGE ON 7/13/25 -FINALLY RECEIVED A FINANCIAL SETTLEMENT FROM AT&T FOR THE DAMAGES WE INCURRED WHILE THEY WERE INSTALLING FIBER OPTIC LINES IN OUR DISTRICT

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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 $430,520

Investment Income $5,800

Other Revenue $13,254

TOTAL REVENUE $449,574

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $353,892

TOTAL EXPENSES $353,892

Year-over-Year Comparison

	2024	2023	Change
Revenue	$449,574	$401,265	+0.1%
Expenses	$353,892	$357,249	0.0%
Net Income	$95,682	$44,016	+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

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
WOODY HOLT	PRESIDENT	1.00	Officer Director	$0	$0	$0
LUKE ANDRIES	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LINDA MCCRAW	SECRETARY	1.00	Officer Director	$0	$0	$0
MARY ANN SONES	FORMER TREASURER	1.00	Officer Director	$0	$0	$0
GRAM HOPKINS	MEMBER AT LARGE	1.00	Director	$0	$0	$0
BILL GROTHE	TREASURER	1.00	Officer Director	$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
2025	$449,574	$353,892	$799,142	$95,682
2024	$401,265	$357,249	$764,649	$44,016
2023	$416,393	$374,146	$783,012	$42,247
2022	$384,393	$336,390	$798,079	$48,003
2021	$425,260	$368,070	$799,322	$57,190
2020	$427,437	$315,627	$812,338	$111,810
2019	$421,991	$376,875	$821,543	$45,116
2018	$411,971	$330,341	$838,685	$81,630