SPIRO EAST 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

1968

Legal Domicile

Principal Officer

MARK COX

Phone

9189623355

Tax Period

2023-01-01 to 2023-12-31

SPIRO EAST WATER ASSOCIATION INC, founded in 1968, is a small nonprofit that reported $712K in total revenue in fiscal year 2023. Expenses of $651K left a modest 8% surplus.

Mission

THE ASSOCIATION PROVIDES HIGH QUALITY SUPPLIES OF POTABLE WATER USED FOR DRINKING AND OTHER PURPOSES

Program Service Accomplishments

Program 1

Expenses: $443,360

PROVIDED WATER TO 1,285 CUSTOMERS.GALLONS OF WATER SOLD 72,087,497.

Program 2

Expenses: $198,312

PROVIDED SEWER TO 53 CUSTOMERS. SEWER CHARGES BASED ON GALLONS OF WATER USED.TOTAL GALLONS OF WATER USED 3,318,518.

Program 3

Expenses: $6,804

OPERATIONS WHICH INCLUDE PAYROLL, DEPRECIATION AND OTHER OPERATING EXPENSES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $684,494

Investment Income $5,214

Other Revenue $22,019

TOTAL REVENUE $711,727

Expense Breakdown

Grants Paid $0

Salaries & Benefits $191,676

Fundraising Expenses $0

Program Expenses $648,476

Other Expenses $459,800

TOTAL EXPENSES $651,476

Year-over-Year Comparison

	2023	2022	Change
Revenue	$711,727	$691,047	+0.0%
Expenses	$651,476	$627,856	+0.0%
Net Income	$60,251	$63,191	0.0%

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

Total Directors

$6,053

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
DAVID KISSINGER	Director	Director	$729	$1,185	$1,914
GARY MASTERSON	Director	Director	$402	$378	$780
MARK COX	Chairman	Director	$371	$349	$720
DONALD BUNCH	Director	Director	$371	$349	$720
RONNIE THOMPSON	Director	Director	$340	$320	$660
VALLARD CAMPBELL	Director	Director	$339	$320	$659
DONALD BARNES	VICE CHAIRMAN	Director	$309	$291	$600

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	No data	No data	No data	No data
2023	$711,727	$651,476	$1,693,646	$60,251
2022	$691,047	$627,856	$1,628,093	$63,191
2021	$681,199	$602,141	$1,559,749	$79,058
2020	$657,792	$646,066	$1,480,178	$11,726