IRVINE RANCH WATER DISTRICT WATER SERVICE CORPORATION

EIN: 911874346

IRVINE, CA

Total Revenue
$11,159,288
Total Expenses
$5,102,651
Total Assets
$10,524,298
Net Assets
$-107,431,565
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
CA
Principal Officer
NEVEEN ADLY
Phone
9494535300
Tax Period
2024-07-01 to 2025-06-30

IRVINE RANCH WATER DISTRICT WATER SERVICE CORPORATION, founded in 1997, is a mid-sized nonprofit that reported $11.2M in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $6.1M, a strong 54% operating margin.

Mission

THE CORPORATION WAS FORMED FOR PURPOSES WHICH INCLUDE THE RENDERING OF FINANCIAL ASSISTANCE TO IRVINE RANCH WATER DISTRICT AND THE ACQUISITION BY PURCHASE OR OTHER MEANS OF WATER COMPANIES OR ANY INTEREST THEREIN FOR THE BENEFIT OF THE DISTRICT. THE ORGANIZATION HAS FACILITATED TRANSACTIONS NEEDED BY THE DISTRICT FOR THE ACQUISTION OF TWO SMALL WATER SYSTEMS THAT WERE CONSOLIDATED WITH THE DISTRICT.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $384,750
Other Revenue $10,774,538
TOTAL REVENUE $11,159,288

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $5,102,651
TOTAL EXPENSES $5,102,651

Year-over-Year Comparison

2024 2023 Change
Revenue $11,159,288 $16,299,898 -0.3%
Expenses $5,102,651 $5,319,234 0.0%
Net Income $6,056,637 $10,980,664 -0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
1
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
7
$1,138,782
Total Directors
5
$242,194
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVEN LAMAR VICE PRESIDENT 1.00
Officer Director
$0 $25,786 $57,755
DOUG REINHART PRESIDENT 1.00
Officer Director
$0 $25,786 $61,411
JOHN WITHERS DIRECTOR 1.00
Director
$0 $28,987 $59,244
DAN FERONS DIRECTOR 1.00
Director
$0 $0 $0
PEER SWAN DIRECTOR 1.00
Director
$0 $29,791 $63,784
KRISTINE SWAN DISTRICT SECRETARY 1.00
Officer
$0 $35,761 $170,320
CLAIRE HERVEY COLLINS ATTORNEY 1.00
Officer
$0 $0 $0
NEVEEN ADLY TREASURER 1.00
Officer
$0 $45,625 $338,970
JENNIFER DAVIS ASST. TREASURER 1.00
Officer
$0 $41,178 $230,138
CHRISTINE COMPTON ASST. SECRETARY 1.00
Officer
$0 $32,151 $280,188
PAUL COOK GENERAL MANAGER 1.00
Highest
$0 $61,257 $534,796
KEVIN BURTON EXECUTIVE DIRECTOR, TECHNI 1.00
Highest
$0 $53,008 $381,323
PAUL WEGHORST EXECUTIVE DIRECTOR, WATER 1.00
Highest
$0 $64,594 $381,945
WENDY CHAMBERS EXECUTIVE DIRECTOR, OPERAT 1.00
Highest
$0 $46,824 $343,316
FIONA SANCHEZ DIRECTOR OF WATER RESOUCES 1.00
Highest
$0 $51,845 $324,093
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 $11,159,288 $5,102,651 $10,524,298 $6,056,637
2024 $16,299,898 $5,319,234 $10,474,089 $10,980,664
2023 $11,096,255 $5,520,901 $5,159,270 $5,575,354
2022 $10,970,156 $5,708,930 $4,965,094 $5,261,226
2021 $10,889,581 $5,884,180 $4,815,630 $5,005,401
2020 $1,773,868 $6,006,870 $4,662,741 $-4,233,002
2019 $7,791,015 $7,791,015 $120,703,750 No data
2018 $7,694,760 $7,694,760 $122,528,667 No data
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