DUCK LAKE WATER ASSOCIATION INC (EIN 910721100) - 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

1960

Legal Domicile

Principal Officer

FLOYD COVEY

Phone

5098264623

Tax Period

2023-08-01 to 2024-07-31

DUCK LAKE WATER ASSOCIATION INC, founded in 1960, is a small nonprofit that reported $148K in total revenue in fiscal year 2023. Revenue fell 87% from the prior year — a significant decline worth monitoring. Expenses of $213K exceeded revenue, resulting in a 44% operating deficit.

Mission

DELIVERY OF DOMESTIC WATER TO MEMBERS AT THE LOWEST POSSIBLE COST AS WELL AS MAINTAINING THE WATER SYSTEM TO INSURE THAT ALL REQUIRED WATER QUALITY & SAFETY STANDARDS MANDATED BY THE VARIOUS STATE & LOCAL AUTHORITIES ARE COMPLIED WITH.

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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 $32,894

Program Service Revenue $114,926

Investment Income $237

Other Revenue $0

TOTAL REVENUE $148,057

Expense Breakdown

Grants Paid $0

Salaries & Benefits $52,782

Fundraising Expenses $0

Other Expenses $159,755

TOTAL EXPENSES $212,537

Year-over-Year Comparison

	2023	2022	Change
Revenue	$148,057	$1,182,736	-0.9%
Expenses	$212,537	$124,251	+0.7%
Net Income	$-64,480	$1,058,485	-1.1%

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

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

$37,060

Total Directors

$52,782

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TALANA LAY	Treasurer	10.00	Officer Director	$22,920	$0	$22,920
MELISSA AMES-TIBBITS	SYSTEM OPERATOR	10.00	Director	$15,402	$0	$15,402
WAYNE WELLS	Vice President	10.00	Officer Director	$13,940	$0	$13,940
JEREMI JUDD	Director	0.00	Director	$320	$0	$320
FLOYD COVEY	President	0.00	Officer Director	$200	$0	$200
DAVE MUNDINGER	Director	0.00	Director	$0	$0	$0
MEGAN AZZANO	Director	0.00	Director	$0	$0	$0
DUANE HAMMER	Director	0.00	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
2025	No data	No data	No data	No data
2024	$148,057	$212,537	$1,907,848	$-64,480
2023	$148,405	$124,586	$819,507	$23,819
2023	$1,182,736	$124,251	$1,918,421	$1,058,485
2022	$111,644	$89,899	$786,784	$21,745
2021	$110,560	$89,902	$697,433	$20,658

DUCK LAKE WATER ASSOCIATION INC