WILSHIRE HEIGHTS MUTUAL WATER COMP… - Form 990 Financial Data

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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

1959

Legal Domicile

Principal Officer

Gail Fadenrecht

Phone

6026190390

Tax Period

2023-07-01 to 2024-06-30

WILSHIRE HEIGHTS MUTUAL WATER COMPANY, founded in 1959, is a small nonprofit that reported $224K in total revenue in fiscal year 2023. The organization ran a surplus of $170K, a strong 76% operating margin.

Mission

WHMWC provides well water to 41 service connections. Following the 2017 Tubbs Fire, 32 shareholders use water for homes and construction. We maintain and repair the equipment and lines, we comply with state and federal requirements, sampling monthly, submitting quarterly drought reports, annual water quality and status reports; and this year, surveying and reporting lead and copper content of all water lines and service connections. We also pursued and obtained Firewise Certification, a tremendous community effort for the benefit of our water company neighborhood and surrounding homes, nearly 200 homes. The certification and its retention requires continous efforts to maintain defensible vegetation spaces and fire hardened home exteriors. There are no water company costs associated with the Firewise Certification efforts. All work is volunteer led. Our revenue/expenses include a misdirected payment of $11,241, which we immediately paid back, from the issuer for the Fire Victims Fund.

Program Service Accomplishments

Program 1

Expenses: $53,284 Revenue: $22,406

Our largest expense and program is maintaining the distribution system, which involves employing a certified operator to take monthly water samples for testing, making repairs of the equipment and...

Our largest expense and program is maintaining the distribution system, which involves employing a certified operator to take monthly water samples for testing, making repairs of the equipment and water lines, paying PG&E for electricity to run the pumps, paying laboratory fees for the sample testing, enlisting a certified backflow operator to inspect all service connections annually, purchasing propane for the generators and undergoing annual generator inspections and maintenance in preparation for PG&E power outages, predominantly during red flag events. The most inconsequential costs are the administrative expenses which include insurance, fire district taxes, postage, envelopes and PO Box rental.

Program 2

Expenses: $0 Revenue: $0

The water company was very active in seeking Firewise Certification which required canvassing the community, holding meetings to educate residents in resiliency, surveying the extent of vegetation...

The water company was very active in seeking Firewise Certification which required canvassing the community, holding meetings to educate residents in resiliency, surveying the extent of vegetation management and home hardening by individual homeowners, and submitting an application to the national National Fire Protection Association. Certification was awarded to our greater community, Riebli-North Firewise Community, in recognition of our compliance with fire safety standards. All work was volunteer led and there were no expenses or revenues. In some cases, the designation has reduced the insurance premiums for some of our residents.

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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 $223,634

Investment Income $306

Other Revenue $0

TOTAL REVENUE $223,940

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $53,284

Other Expenses $54,254

TOTAL EXPENSES $54,254

Year-over-Year Comparison

	2023	2022	Change
Revenue	$223,940	N/A	N/A
Expenses	$54,254	N/A	N/A
Net Income	$169,686	$0	N/A

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

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
Nick Hohler	President	5	Officer Director	$0	$0	$0
Mike McGie	Vice President	1	Officer Director	$0	$0	$0
Gail Fadenrecht	Secretary/Treasurer	10	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	$223,940	$54,254	$353,015	$169,686
2022	$200,403	$120,620	$182,121	$79,783

WILSHIRE HEIGHTS MUTUAL WATER COMPANY