The Madagascar Water Project Inc

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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

2017

Legal Domicile

Principal Officer

Fredrick Rittelmeyer

Phone

2514638445

Tax Period

2023-01-01 to 2023-12-31

The Madagascar Water Project Inc, founded in 2017, is a small nonprofit in the International Affairs sector that reported $310K in total revenue in fiscal year 2023. Revenue surged 172% from the prior year, signaling strong growth momentum. The organization ran a surplus of $60K, a strong 19% operating margin.

Mission

The Madagascar Water Project (MWP) provides clean water to rural villages in Madagascar through several activities: 1) new drill wells, 2) repair and rehabilitation of broken wells, 3) repair and rehabilitation of existing water infrastructure (dams, pipelines), and 4) construction of a new water infrastructure. The MWP works in five regions around Madagascar to provide clean water to 170k beneficiaries in more than 150 villages.

Program Service Accomplishments

Program 1

Expenses: $9,990

The Madagascar Water Project provided needed maintenance and repairs to approximately 120 wells drilled and build in earlier water programs. Ongoing technical training and counseling are provided to encourage community participation and sustainability.The maintenance program provides clean water to an estimated 100,000 people in the regions of Antsinanana and Vato Vavy in Eastern Madagascar.

Program 2

Expenses: $105,000

The Madagascar Water Project repaired and rebuilt the municipal water system in Marolambo Madagascar, Region of Antsinanana in Easter Madagascar. The project required the 1) complete reconstruction of a dam and reservoir, 2) repairs and replacement of 6 kilometers of pipeline, 3) repairs and rehabilitation of the filtration system, holding tanks and chlorination system, and 4) construction of 20 water kiosks and 10 water stations. Extensive training in water management is ongoing with the goal to achieve sustainability through local community management.The project provides clean, uncontaminated, chlorinated potable water to an estimated 7,760 people in rural Madagascar.

Program 3

Expenses: $122,300

The Madagascar Water Project repaired and rehabiliated 26 abandoned water wells in the regions of Anosy, District of Betroka, Fokontany of Besokaka, Naninora, Morahariva, Marovotrym Antatabe...

The Madagascar Water Project repaired and rehabiliated 26 abandoned water wells in the regions of Anosy, District of Betroka, Fokontany of Besokaka, Naninora, Morahariva, Marovotrym Antatabe Tsanierena, Antatabe, Antatabe Andohany, Bevano Andranoteraka, Ambararata, Analamary, Ambatomanga, Mahasoa Ifataka, Ambovombe, Ambalavato, Soamazava Maroraha, Ankaroka Amboanoelaka, Anabinda, Mandarano Vohitsevo, Antsomitsomy, Beakanga, Samorihy, Andragiragy, Bebakaka, Bemelo Centre, and Bemelo Sud. This area in Southern Madagascar is widely considered to be a disaster area with severe drought and malnutrition. The project requires the identification of broken and abandoned wells, cleaning out each well with drilling equipment, installation of new Indian Mark 111 hand-operated water pumps, reconstruction of surface platform, and training of local community to maintain and manage the pump.The project provides clean water for an estimated 32,335 people in rural Madagascar.

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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 $309,974

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $309,974

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $249,790

Other Expenses $249,960

TOTAL EXPENSES $249,960

Year-over-Year Comparison

	2023	2022	Change
Revenue	$309,974	$113,915	+1.7%
Expenses	$249,960	$107,611	+1.3%
Net Income	$60,014	$6,304	+8.5%

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

N/A

Volunteers

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
Frederick L Rittelmeyer	Managing Director	40.00	Officer Director	$0	$0	$0
Michael Heneghan	Board Member	1.00	Director	$0	$0	$0
Robert Rittelmeyer	Board Member	5.00	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	No data	No data	No data	No data
2023	$309,974	$249,960	$160,685	$60,014