GAFFORD CHAPEL WATER SUPPLY CORPORATION (EIN 751444398) - 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

1967

Legal Domicile

Phone

9038853523

Tax Period

2024-01-01 to 2024-12-31

GAFFORD CHAPEL WATER SUPPLY CORPORATION, founded in 1967, is a small nonprofit in the Mutual Benefit sector that reported $310K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Net assets of $1.1M represent 42 months of operating reserves.

Mission

THE CORPORATION PROVIDES WATER TO ITS MEMBERS/OWNER FOR FARM AND DOMESTIC USE IN RURAL HOPKINS COUNTY, TX.

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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 $306,829

Investment Income $3,178

Other Revenue $0

TOTAL REVENUE $310,007

Expense Breakdown

Grants Paid $0

Salaries & Benefits $68,937

Fundraising Expenses $0

Program Expenses $246,011

Other Expenses $270,817

TOTAL EXPENSES $339,754

Year-over-Year Comparison

	2024	2023	Change
Revenue	$310,007	$334,758	-0.1%
Expenses	$339,754	$310,563	+0.1%
Net Income	$-29,747	$24,195	-2.2%

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

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
MICHAEL RAWSON	President	Officer Director	$0	$0	$0
MIKE MORGAN	Director	Director	$0	$0	$0
HAROLD BRYANT	Secretary/Treas	Officer Director	$0	$0	$0
JASON TUCKER	Director	Director	$0	$0	$0
DAN HUNT	Director	Director	$0	$0	$0
ERIC STRINGER	Director	Director	$0	$0	$0
LW LANGFORD	Director	Director	$0	$0	$0
DON WADDLE	Director	Director	$0	$0	$0
LARRY EDWARDS	Director	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	$310,007	$339,754	$1,641,008	$-29,747
2023	$334,758	$310,563	$1,688,551	$24,195
2022	$325,395	$289,241	$1,676,755	$36,154
2021	$298,930	$260,037	$1,651,542	$38,893
2020	$275,751	$249,070	$1,623,672	$26,681
2019	$224,773	$217,432	$1,608,393	$7,341
2018	$234,701	$239,796	$1,614,447	$-5,095

GAFFORD CHAPEL WATER SUPPLY CORPORATION