OLD UNION WATER ASSOCIATION INC (EIN 640718382) - 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

1970

Legal Domicile

Principal Officer

RICKEY THOMPSON

Phone

6629951269

Tax Period

2022-07-01 to 2023-06-30

OLD UNION WATER ASSOCIATION INC, founded in 1970, is a small nonprofit in the Mutual Benefit sector that reported $417K in total revenue in fiscal year 2022. Revenue surged 41% from the prior year, signaling strong growth momentum.

Mission

OLD UNION WATER SYSTEM, INC. (THE SYSTEM) IS AN ASSOCIATION OF WATER USERS. THE SYSTEM WAS ESTABLISHED AND INCORPORATED IN 1970 FOR THE PURPOSE OF CONSTRUCTING, OPERATING, AND MAINTAINING A RURAL WATER SYSTEM TO SERVE THE MEMBERS OF THE SYSTEM. THE SYSTEM HAS APPROXIMATELY 1400 MEMBERS TO WHICH IT PROVIDES SERVICE. THE SYTEM EXTENDS CREDIT TO MEMBERS IN A LIMITED GEOGRAPHIC AREA ENCOMPASSING A PORTION OF LEE, CHICKASAW, AND MONROE COUNTIES, MISSISSIPPI.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $415,483

Investment Income $1,331

Other Revenue $0

TOTAL REVENUE $416,814

Expense Breakdown

Grants Paid $0

Salaries & Benefits $123,097

Fundraising Expenses $0

Program Expenses $380,536

Other Expenses $313,377

TOTAL EXPENSES $436,474

Year-over-Year Comparison

	2022	2021	Change
Revenue	$416,814	$296,149	+0.4%
Expenses	$436,474	$309,908	+0.4%
Net Income	$-19,660	$-13,759	+0.4%

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

$1,040

Total Directors

$2,830

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE WITTHAUER	MEMBER	1.00	Director	$560	$0	$560
DAVID GOREE	VICE PRESIDE	1.00	Officer Director	$520	$0	$520
RICKEY THOMPSON	PRESIDENT	1.00	Officer Director	$520	$0	$520
PHILLIP WILLIAMS	MEMBER	1.00	Director	$520	$0	$520
BENNY WAYCASTER	MEMBER	1.00	Director	$360	$0	$360
BILL WEST	MEMBER	1.00	Director	$190	$0	$190
STEVE HERSEY	MEMBER	1.00	Director	$160	$0	$160

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	No data	No data	No data	No data
2023	$416,814	$436,474	$1,192,602	$-19,660
2022	$296,149	$309,908	$701,238	$-13,759

OLD UNION WATER ASSOCIATION INC