RIO GRANDE CANAL WATER USERS (EIN 840303970) - 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

1929

Legal Domicile

Principal Officer

CLAY CORZINE

Tax Period

2023-11-01 to 2024-10-31

RIO GRANDE CANAL WATER USERS, founded in 1929, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring. Net assets of $3.7M represent 41 months of operating reserves.

Mission

DELIVER WATER TO MEMBERS

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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 $0

Program Service Revenue $1,011,479

Investment Income $61,884

Other Revenue $18,480

TOTAL REVENUE $1,091,843

Expense Breakdown

Grants Paid $0

Salaries & Benefits $688,620

Fundraising Expenses $0

Program Expenses $1,183,165

Other Expenses $494,545

TOTAL EXPENSES $1,183,165

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,091,843	$1,379,935	-0.2%
Expenses	$1,183,165	$1,145,858	+0.0%
Net Income	$-91,322	$234,077	-1.4%

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
JAMIE HART	DIRECTOR	1.00	Director	$0	$0	$0
JASON McCOY	DIRECTOR	1.00	Director	$0	$0	$0
REID MATTIVE	DIRECTOR	1.00	Director	$0	$0	$0
TEDD HENNIGH	DIRECTOR	1.00	Director	$0	$0	$0
CLAY CORZINE	PRESIDENT	1.00	Officer Director	$0	$0	$0
JASON MOSBY	SECRETARY	1.00	Officer Director	$0	$0	$0
SCOTT CONSAUL	VICE PRESIDENT	1.00	Officer 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	$1,091,843	$1,183,165	$3,715,946	$-91,322
2023	$1,379,935	$1,145,858	$3,739,486	$234,077
2022	$1,213,431	$988,354	$3,500,341	$225,077
2021	$1,036,468	$906,922	$3,373,754	$129,546
2020	$994,926	$901,417	$3,177,745	$93,509
2019	$964,177	$935,988	$3,095,923	$28,189
2018	$919,629	$914,285	$3,055,483	$5,344

RIO GRANDE CANAL WATER USERS