BILLINGS BENCH WATER ASSOCIATION

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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

1915

Legal Domicile

Principal Officer

KRISTINA FRANCO

Phone

4062596241

Tax Period

2024-12-01 to 2025-11-30

BILLINGS BENCH WATER ASSOCIATION, founded in 1915, is a small nonprofit that reported $901K in total revenue in fiscal year 2024. Revenue fell 44% from the prior year — a significant decline worth monitoring. Net assets of $3.2M represent 43 months of operating reserves.

Mission

TO ACQUIRE TITLE TO AN IRRIGATION SYSTEM AND ITS WATER RIGHTS TO PROVIDE FOR FUTURE WATER IRRIGATION THROUGH A CANAL NETWORK FOR THE BENEFIT OF ITS MEMBERS LOCATED IN SOUTH CENTRAL MONTANA.

Program Service Accomplishments

Program 1

Expenses: $766,666

BILLINGS BENCH WATER ASSOCIATION RESOURCES AND ACTIVITIES ARE RELATED TO PROVIDING AND DISTRIBUTION OF WATER THROUGH AN IRRIGATION AND CANAL NETWORK TO ITS MEMBERS LOCATED IN SOUTH CENTRAL MONTANA.

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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 $792,638

Investment Income $12,442

Other Revenue $95,774

TOTAL REVENUE $900,854

Expense Breakdown

Grants Paid $0

Salaries & Benefits $344,518

Fundraising Expenses $0

Program Expenses $766,666

Other Expenses $533,775

TOTAL EXPENSES $878,293

Year-over-Year Comparison

	2024	2023	Change
Revenue	$900,854	$1,599,149	-0.4%
Expenses	$878,293	$1,103,712	-0.2%
Net Income	$22,561	$495,437	-1.0%

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

$40,688

Total Directors

$6,750

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY DAVIS	DIRECTOR	2.00	Director	$1,100	$0	$1,100
TIM MILLER	DIRECTOR	2.00	Director	$350	$0	$350
JIM STOTT	DIRECTOR	2.00	Director	$1,500	$0	$1,500
TIM HEIDEMA	PRESIDENT	5.00	Officer Director	$1,950	$0	$1,950
DAN QUANBECK	DIRECTOR	2.00	Director	$500	$0	$500
KEVIN KINGHORN	DIRECTOR	2.00	Director	$650	$0	$650
MIKE NEZWORSKI	VICE PRESIDENT	3.00	Officer Director	$700	$0	$700
KRISTINA FRANCO	SECRETARY-TREASURER	40.00	Officer	$38,038	$0	$38,038

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	$900,854	$878,293	$3,771,025	$22,561
2024	$1,599,149	$1,103,712	$3,790,505	$495,437
2023	$772,556	$667,927	$3,334,467	$104,629
2022	$783,285	$664,137	$3,371,511	$119,148
2021	$784,650	$692,038	$2,817,696	$92,612
2020	$897,011	$748,933	$2,770,530	$148,078
2019	$732,615	$694,080	$2,668,032	$38,535
2018	$748,867	$596,715	$2,671,557	$152,152