MILANO WATER SUPPLY 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

1964

Legal Domicile

Principal Officer

KEVIN TERRY

Phone

5124552692

Tax Period

2023-01-01 to 2023-12-31

MILANO WATER SUPPLY CORPORATION, founded in 1964, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. The organization ran a surplus of $176K, a strong 16% operating margin.

Mission

PROVIDE POTABLE WELL WATER TO ABOUT 1300 RURAL MEMBERS.

Program Service Accomplishments

Program 1

Expenses: $654,499

TO PROVIDE POTABLE WATER TO INDIVIDUALS AND BUSINESSES IN RURAL AREAS NOT SERVICED BY MUNICIPAL WATER SYSTEMS.

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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 $1,024,462

Investment Income $57,755

Other Revenue $0

TOTAL REVENUE $1,082,217

Expense Breakdown

Grants Paid $0

Salaries & Benefits $412,680

Fundraising Expenses $0

Program Expenses $654,499

Other Expenses $493,947

TOTAL EXPENSES $906,627

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,082,217	$1,186,170	-0.1%
Expenses	$906,627	$866,214	+0.0%
Net Income	$175,590	$319,956	-0.5%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN TERRY	PRESIDENT	2.00	Officer Director	$0	$0	$0
DAVID WESTBROOK	VICE-PRESIDENT	2.00	Officer Director	$0	$0	$0
DAVID JACKSON	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
BRENDA PRUETT	MEMBER	2.00	Director	$0	$0	$0
ARTHUR KELLEY	MEMBER	2.00	Director	$0	$0	$0
DOUGLAS TELG	MEMBER	2.00	Director	$0	$0	$0
LONNIE GRAVES	MEMBER	2.00	Director	$0	$0	$0
VIRGIL HURT	MEMBER	2.00	Director	$0	$0	$0
JOEY GAGE	MEMBER	2.00	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	No data	No data	No data	No data
2023	$1,082,217	$906,627	$2,876,136	$175,590
2022	$1,186,170	$866,214	$2,701,927	$319,956
2021	$870,772	$765,334	$2,442,737	$105,438
2020	$824,458	$749,513	$2,403,295	$74,945
2019	$712,178	$723,734	$2,365,998	$-11,556
2018	$788,763	$669,608	$2,431,761	$119,155