FRANKSTON RURAL WATER SUPPLY CORPO… - Form 990 Financial Data

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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

1968

Legal Domicile

Principal Officer

RAY BEDDINGFIELD

Tax Period

2023-01-01 to 2023-12-31

FRANKSTON RURAL WATER SUPPLY CORPORATION, founded in 1968, is a small nonprofit that reported $634K in total revenue in fiscal year 2023. Revenue surged 71% from the prior year, signaling strong growth momentum. Expenses of $606K left a modest 4% surplus.

Mission

PROVIDE DRINKING WATER TO RURAL MEMBERS

Program Service Accomplishments

Program 1

MEMBER OWNED WATER UTILITY SYSTEM. WE COLLECT FEES FOR WATER USAGE, LATE FEES, AND SERVICE CHARGES. WE USE THOSE FEES TO KEEP OUR SYSTEMS IN WORKING CONDITION. ALL INCOME IS EXEMPT AND RELATED.

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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 $192,649

Program Service Revenue $0

Investment Income $1,103

Other Revenue $440,286

TOTAL REVENUE $634,038

Expense Breakdown

Grants Paid $0

Salaries & Benefits $137,820

Fundraising Expenses $0

Other Expenses $468,648

TOTAL EXPENSES $606,468

Year-over-Year Comparison

	2023	2022	Change
Revenue	$634,038	$371,830	+0.7%
Expenses	$606,468	$303,725	+1.0%
Net Income	$27,570	$68,105	-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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROB HORD	DIRECTOR	001.00	Director	$0	$0	$0
BRIAN HOWIE	DIRECTOR	001.00	Director	$0	$0	$0
JIM DWYER	DIRECTOR	001.00	Director	$0	$0	$0
RAY BEDDINGFIELD	PRESIDENT	005.00	Officer	$0	$0	$0
LAURA WILLIAMS	SECRETARY/TREASURER	005.00	Officer	$0	$0	$0
GARY WORLOW	VICE PRESIDENT	001.00	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
2024	No data	No data	No data	No data
2023	$634,038	$606,468	$872,697	$27,570
2022	$371,830	$303,725	$955,409	$68,105
2021	$316,412	$420,365	$885,304	$-103,953
2020	$321,803	$216,416	$952,755	$105,387
2019	$279,529	$257,657	$876,005	$21,872

FRANKSTON RURAL WATER SUPPLY CORPORATION