Fort Gates Water Supply Corporation (EIN 741600312) - 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

1964

Legal Domicile

Principal Officer

JUSTIN VEAZEY

Phone

2548655569

Tax Period

2024-10-01 to 2025-09-30

Fort Gates Water Supply Corporation, founded in 1964, is a small nonprofit that reported $829K in total revenue in fiscal year 2024. Expenses of $796K left a modest 4% surplus.

Mission

To furnish potable water and or sewer utility service to members.

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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 $809,551

Investment Income $18,005

Other Revenue $1,940

TOTAL REVENUE $829,496

Expense Breakdown

Grants Paid $0

Salaries & Benefits $359,878

Fundraising Expenses $0

Program Expenses $746,872

Other Expenses $436,504

TOTAL EXPENSES $796,382

Year-over-Year Comparison

	2024	2023	Change
Revenue	$829,496	$861,277	0.0%
Expenses	$796,382	$760,055	+0.0%
Net Income	$33,114	$101,222	-0.7%

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

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

$372,740

Total Directors

$373,820

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Justin Veazey	President	40.00	Officer Director	$372,020	$0	$372,020
Cathy Truss	Treasurer	1.00	Officer Director	$360	$0	$360
Cecil Strickland	Vice President	1.00	Officer Director	$360	$0	$360
Ellis Fain	Director	1.00	Director	$360	$0	$360
Richard Shelton	Director	1.00	Director	$360	$0	$360
Stanley Williams	Director	1.00	Director	$360	$0	$360

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	$829,496	$796,382	$1,706,030	$33,114
2024	$861,277	$760,055	$1,866,129	$101,222
2023	$713,929	$725,407	$1,573,125	$-11,478
2022	$614,780	$651,053	$1,585,526	$-36,273
2021	$617,600	$550,602	$1,625,466	$66,998
2020	$567,913	$530,836	$1,433,587	$37,077
2019	$531,744	$515,403	$1,396,907	$16,341

Fort Gates Water Supply Corporation