NEW PROSPECT WATER SUPPLY CORP

EIN: 751464425

HENDERSON, TX

Total Revenue
$388,296
Total Expenses
$366,804
Total Assets
$1,054,046
Net Assets
$1,047,263
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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
TX
Principal Officer
JOE DAN BROWN
Phone
9036552551
Tax Period
2024-01-01 to 2024-12-31

NEW PROSPECT WATER SUPPLY CORP, founded in 1967, is a small nonprofit that reported $388K in total revenue in fiscal year 2024. Expenses of $367K left a modest 6% surplus.

Mission

Provide potable water to local community

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $50,000
Program Service Revenue $327,371
Investment Income $10,925
Other Revenue $0
TOTAL REVENUE $388,296

Expense Breakdown

Grants Paid $0
Salaries & Benefits $110,079
Fundraising Expenses $0
Other Expenses $256,725
TOTAL EXPENSES $366,804

Year-over-Year Comparison

2024 2023 Change
Revenue $388,296 $385,553 +0.0%
Expenses $366,804 $366,105 +0.0%
Net Income $21,492 $19,448 +0.1%
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

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Governance

Voting Members
5
Independent Members
5
Employees
3
Volunteers
5

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
3
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOE DAN BROWN PRES 3.00
Officer Director
$0 $0 $0
LEON HARRIS VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
SHANNON YARBOROUGH SEC TREA 2.00
Officer Director
$0 $0 $0
GREGG GREEN DIRECTOR 2.00
Director
$0 $0 $0
ALAN HAMMETT DIRECTOR 2.00
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 $388,296 $366,804 $1,054,046 $21,492
2023 $385,553 $366,105 $1,032,357 $19,448
2022 $303,036 $350,895 $1,011,866 $-47,859
2021 $275,314 $240,050 $1,057,939 $35,264
2020 $254,258 $277,038 $1,021,989 $-22,780
2019 $271,162 $268,953 $1,044,427 $2,209
2018 $254,095 $223,117 $1,039,685 $30,978
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