SOUTHERN BLACK HILLS WATER SYSTEM

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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

2005

Legal Domicile

Principal Officer

DON PETERSON

Phone

6057454669

Tax Period

2024-01-01 to 2024-12-31

SOUTHERN BLACK HILLS WATER SYSTEM, founded in 2005, is a community nonprofit in the Public & Societal Benefit sector that reported $1.6M in total revenue in fiscal year 2024. Revenue surged 108% from the prior year, signaling strong growth momentum. The organization ran a surplus of $511K, a strong 32% operating margin.

Mission

TO PLAN AND CONSTRUCT A REGIONAL WATER SYSTEM WITH THE PURPOSE OF PROVIDING SAFE AND DEPENDABLE WATER TO ALL CURRENT AND FUTURE RESIDENTS, BUSINESSES, AND COMMUNITIES OF THE SOUTHERN BLACK HILLS THAT ARE IN NEED OF WATER BY THE MOST ECONOMIC AND TIMELY MEANS POSSIBLE.

Program Service Accomplishments

Program 1

TO OPERATE, MAINTAIN, AND CONSTRUCT A REGIONAL WATER SYSTEM AND, AS NECESSARY, TO CONDUCT SAID BUSINESS TO ACQUIRE WATER AND TRANSFER THE SAME FOR DELIVERY AND SALE. TO PLAN AND CONSTRUCT A REGIONAL WATER SYSTEM WITH THE PURPOSE OF PROVIDING SAFE AND DEPENDABLE WATER TO ALL CURRENT AND FUTURE RESIDENTS, BUSINESSES, AND COMMUNITIES OF THE SOUTHERN BLACK HILLS THAT ARE IN NEED OF WATER BY THE MOST ECONOMIC AND TIMELY MEANS POSSIBLE.

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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 $609,802

Program Service Revenue $829,149

Investment Income $3,350

Other Revenue $150,000

TOTAL REVENUE $1,592,301

Expense Breakdown

Grants Paid $0

Salaries & Benefits $171,682

Fundraising Expenses $0

Other Expenses $909,421

TOTAL EXPENSES $1,081,103

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,592,301	$766,072	+1.1%
Expenses	$1,081,103	$1,001,522	+0.1%
Net Income	$511,198	$-235,450	-3.2%

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

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

$104,998

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DON PETERSON	MANAGER	43.34	Officer	$104,998	$0	$104,998
TED WICK	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JAY SMITH	VICE CHAIRMA	2.00	Officer Director	$0	$0	$0
BOB BAIRD	TREASURER	2.00	Officer Director	$0	$0	$0
JOHN ZOLNOWSKY	SECRETARY	2.00	Officer Director	$0	$0	$0
LEEANN BAKER	DIRECTOR	2.00	Director	$0	$0	$0
JOHN BEARD	DIRECTOR	2.00	Director	$0	$0	$0
STEVE KOWALSKI	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD KRUMP	DIRECTOR	2.00	Director	$0	$0	$0
BRANDON NASE	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	$1,592,301	$1,081,103	$15,796,966	$511,198
2023	$766,072	$1,001,522	$15,363,085	$-235,450
2022	$778,632	$1,058,866	$15,673,420	$-280,234
2021	$748,359	$1,069,468	$16,026,173	$-321,109
2020	$659,101	$979,268	$16,420,725	$-320,167
2019	$1,241,990	$1,118,051	$16,805,686	$123,939
2018	$836,995	$1,024,788	$16,747,613	$-187,793