SOUTHWEST MILAM WATER SUPPLY CORPORATION (EIN 741667030) - 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

1970

Legal Domicile

Principal Officer

KIT WORLEY

Phone

5124462604

Tax Period

2023-01-01 to 2023-12-31

SOUTHWEST MILAM WATER SUPPLY CORPORATION, founded in 1970, is a community nonprofit that reported $4.7M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $4.3M left a modest 8% surplus.

Mission

PROVIDE POTABLE WATER TO ABOUT 3,000 RURAL 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 (2023)

Revenue Breakdown

Contributions & Grants $154,984

Program Service Revenue $4,360,182

Investment Income $91,484

Other Revenue $57,222

TOTAL REVENUE $4,663,872

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,600,711

Fundraising Expenses $0

Other Expenses $2,703,231

TOTAL EXPENSES $4,303,942

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,663,872	$5,247,255	-0.1%
Expenses	$4,303,942	$3,710,004	+0.2%
Net Income	$359,930	$1,537,251	-0.8%

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
KIT WORLEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
THOMAS NELSON	VICE-PRESIDENT	1.00	Officer Director	$0	$0	$0
RICKY STEWART	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
LARRY GILBREATH	DIRECTOR	1.00	Director	$0	$0	$0
MIKE OFFIELD	DIRECTOR	1.00	Director	$0	$0	$0
JAMES PESL	DIRECTOR	1.00	Director	$0	$0	$0
GARY OSLICK	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT VONGONTEN	DIRECTOR	1.00	Director	$0	$0	$0
BOB WILSON	DIRECTOR	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	No data	No data	No data	No data
2023	$4,663,872	$4,303,942	$17,100,286	$359,930
2022	$5,247,255	$3,710,004	$13,822,907	$1,537,251
2021	$4,580,525	$3,728,055	$10,046,300	$852,470
2020	$3,461,322	$3,033,227	$9,320,949	$428,095
2019	$3,324,644	$2,813,315	$9,119,890	$511,329
2018	$3,072,569	$2,717,736	$8,844,496	$354,833

SOUTHWEST MILAM WATER SUPPLY CORPORATION