MIDWAY IRRIGATION COMPANY (EIN 870219343) - 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

1887

Legal Domicile

Phone

8014206158

Tax Period

2023-01-01 to 2023-12-31

MIDWAY IRRIGATION COMPANY, founded in 1887, is a small nonprofit that reported $632K in total revenue in fiscal year 2023. Revenue fell 46% from the prior year — a significant decline worth monitoring. Expenses of $1.8M exceeded revenue, resulting in a 181% operating deficit.

Mission

Irrigation Company that provides irrigation water to its shareholders.

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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 $204,343

Program Service Revenue $400,351

Investment Income $27,375

Other Revenue $0

TOTAL REVENUE $632,069

Expense Breakdown

Grants Paid $0

Salaries & Benefits $154,510

Fundraising Expenses $0

Other Expenses $1,623,349

TOTAL EXPENSES $1,777,859

Year-over-Year Comparison

	2023	2022	Change
Revenue	$632,069	$1,168,753	-0.5%
Expenses	$1,777,859	$1,362,962	+0.3%
Net Income	$-1,145,790	$-194,209	+4.9%

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	Role	Reportable Comp	Other Comp	Total
Steve Farrell	President & CEO	Officer Director	$0	$0	$0
Mike Lundeen	Director	Director	$0	$0	$0
Grant Kohler	Director	Director	$0	$0	$0
Bruce Strom	Director	Director	$0	$0	$0
Steve Dorey	Director	Director	$0	$0	$0
Brent Kelly	Director	Director	$0	$0	$0
Hylton Haueter	Director	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	$632,069	$1,777,859	$5,009,634	$-1,145,790
2022	$1,168,753	$1,362,962	$5,788,462	$-194,209
2021	$998,387	$1,227,076	$5,982,671	$-228,689
2020	$708,817	$1,117,287	$6,211,360	$-408,470
2019	$578,091	$897,307	$6,619,830	$-319,216
2018	$480,403	$923,437	$6,939,046	$-443,034

MIDWAY IRRIGATION COMPANY