THE COVES WATER SUPPLY CORP (EIN 742798735) - 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

2011

Legal Domicile

Principal Officer

LANCE HALGREN

Phone

8323724767

Tax Period

2025-01-01 to 2025-12-31

THE COVES WATER SUPPLY CORP, founded in 2011, is a small nonprofit in the Mutual Benefit sector that reported $561K in total revenue in fiscal year 2025. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $159K, a strong 28% operating margin.

Mission

SUPPLY WATER TO APPROXIMATELY 200 HOMES

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $553,300

Investment Income $7,927

Other Revenue $0

TOTAL REVENUE $561,227

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $401,970

Other Expenses $401,970

TOTAL EXPENSES $401,970

Year-over-Year Comparison

	2025	2024	Change
Revenue	$561,227	$438,327	+0.3%
Expenses	$401,970	$305,227	+0.3%
Net Income	$159,257	$133,100	+0.2%

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

N/A

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
STEVE COPE	DIRECTOR	Director	$0	$0	$0
DREW DEBARRY	DIRECTOR	Director	$0	$0	$0
ED SCARDAVILLE	DIRECTOR	Director	$0	$0	$0
STEVE JOHNSON	PRESIDENT	Officer	$0	$0	$0
LANCE HALGREN	TREASURER	Officer	$0	$0	$0
T PAT HARRISON	SECRETARY	Officer	$0	$0	$0
MARK CIRINNA	VP-STRATEGIC PLANNING	Officer	$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	$561,227	$401,970	$691,908	$159,257
2024	$438,327	$305,227	$553,157	$133,100
2023	$276,021	$315,885	$424,324	$-39,864
2022	$262,057	$266,279	No data	$-4,222
2021	$252,926	$197,714	$490,455	$55,212
2020	$271,034	$168,353	$443,358	$102,681

THE COVES WATER SUPPLY CORP