GARY 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

1967

Legal Domicile

Principal Officer

KENNY THORSON

Phone

9036852225

Tax Period

2023-01-01 to 2023-12-31

GARY WATER SUPPLY CORPORATION, founded in 1967, is a small nonprofit that reported $271K in total revenue in fiscal year 2023. Expenses of $253K left a modest 7% surplus.

Mission

SUPPLY WATER TO RURAL COMMUNITY

Program Service Accomplishments

Program 1

GARY WATER SUPPLY MAINTAINS THE WATER SYSTEM THAT SUPPLIES SAFE AND COST EFFECTIVE WATER FOR APPROXIMATELY 322 MEMBERS IN THEIR RURAL SERVICE AREA.

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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 $270,456

Investment Income $545

Other Revenue $0

TOTAL REVENUE $271,001

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,325

Fundraising Expenses $0

Other Expenses $205,831

TOTAL EXPENSES $253,156

Year-over-Year Comparison

	2023	2022	Change
Revenue	$271,001	$271,384	0.0%
Expenses	$253,156	$228,342	+0.1%
Net Income	$17,845	$43,042	-0.6%

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

$44,040

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNY THORSON	PRESIDENT	1.00	Officer	$0	$0	$0
JACK HAMMOND	VICE PRESIDENT	1.00	Officer	$0	$0	$0
JASON PREWITT	SECRETARY/TREASURER	1.00	Officer	$0	$0	$0
NAT LANKFORD	BOARD MEMBER	1.00	Officer	$0	$0	$0
TERRY BARR	BOARD MEMBER	1.00	Officer	$0	$0	$0
STACY CRANFORD	KEY EMPLOYEE	40.00	Key Emp	$44,040	$0	$44,040

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$271,001	$253,156	$396,461	$17,845
2022	$271,384	$228,342	$393,231	$43,042
2021	$261,561	$232,022	$361,164	$29,539
2020	$252,705	$237,123	$351,379	$15,582