MONTEREY WATER ASSOCIATION INC

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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

Phone

6019322506

Tax Period

2024-07-01 to 2025-06-30

MONTEREY WATER ASSOCIATION INC, founded in 1967, is a small nonprofit that reported $493K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $451K left a modest 8% surplus.

Mission

DELIVERY OF WATER SERVICES TO THE RESIDENTS OF THE MONTEREY COMMUNITY IN RURAL RANKIN COUNTY, MISSISSIPPI

Program Service Accomplishments

Program 1

Expenses: $337,949

DELIVERY OF WATER SERVICES TO THE RESIDENTS OF THE MONTEREY COMMUNITY IN RURAL RANKIN COUNTY, MISSISSIPPI

Program 2

Expenses: $29,638

TO HELP FUND THE MONTEREY VOLUNTEER FIRE DEPARTMENT, A NON-PROFIT TAX EXEMPT ORGANIZATION

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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 $487,154

Investment Income $0

Other Revenue $5,824

TOTAL REVENUE $492,978

Expense Breakdown

Grants Paid $0

Salaries & Benefits $118,431

Fundraising Expenses $0

Program Expenses $367,587

Other Expenses $332,740

TOTAL EXPENSES $451,171

Year-over-Year Comparison

	2024	2023	Change
Revenue	$492,978	$531,139	-0.1%
Expenses	$451,171	$433,175	+0.0%
Net Income	$41,807	$97,964	-0.6%

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

1085

Independent Members

1085

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
CHARLES TILLMAN	PRESIDENT	Officer Director	$0	$0	$0
RACHEL DUSENBERRY	SECRETARY	Officer Director	$0	$0	$0
LONNIE RORIE	VICE PRESIDENT	Officer Director	$0	$0	$0
BRIAN JOLLY	DIRECTOR	Director	$0	$0	$0
RAYMOND THORNTON	DIRECTOR	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	$492,978	$451,171	$1,793,105	$41,807
2024	$531,139	$433,175	$1,825,582	$97,964
2023	$450,142	$414,437	$1,785,235	$35,705
2022	$410,143	$415,694	$1,804,743	$-5,551
2021	$436,246	$432,246	$1,868,506	$4,000
2020	$425,711	$410,919	$1,922,918	$14,792
2019	$419,090	$398,846	$1,967,353	$20,244