PISGAH WATER ASSOCIATION INC (EIN 640774184) - 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

1967

Legal Domicile

Principal Officer

TY IRBY

Phone

6018291551

Tax Period

2024-01-01 to 2024-12-31

PISGAH WATER ASSOCIATION INC, founded in 1967, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 242% from the prior year, signaling strong growth momentum. The organization ran a surplus of $947K, a strong 72% operating margin.

Mission

OPERATION OF A PRIVATE RURAL WATER SYSTEM

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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 $575,991

Program Service Revenue $467,314

Investment Income $2,387

Other Revenue $268,614

TOTAL REVENUE $1,314,306

Expense Breakdown

Grants Paid $1,640

Salaries & Benefits $63,341

Fundraising Expenses $0

Program Expenses $304,749

Other Expenses $302,341

TOTAL EXPENSES $367,322

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,314,306	$383,756	+2.4%
Expenses	$367,322	$340,057	+0.1%
Net Income	$946,984	$43,699	+20.7%

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

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
TY IRBY	PRESIDENT	1.00	Officer Director	$0	$0	$0
SHERRI HOLLINGSWORTH	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
SIMEON SMITH	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
MATTHEW BOYD	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTIE WATSON	BOARD MEMBER	1.00	Director	$0	$0	$0
WALTER MCGEE JR	BOARD MEMBER	1.00	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
2024	$1,314,306	$367,322	$3,215,007	$946,984
2023	$383,756	$340,057	$2,117,646	$43,699
2022	$519,169	$338,640	$1,966,753	$180,529
2021	$303,001	$286,685	$1,888,878	$16,316
2020	$283,985	$258,369	$1,696,849	$25,616
2019	$307,593	$250,406	$1,702,520	$57,187
2018	$287,352	$274,794	$1,670,396	$12,558

PISGAH WATER ASSOCIATION INC