VALENCIA HEIGHTS WATER COMPANY (EIN 951323620) - 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

1912

Legal Domicile

Principal Officer

P DAVID MICHALKO

Phone

6263328935

Tax Period

2023-11-01 to 2024-10-31

VALENCIA HEIGHTS WATER COMPANY, founded in 1912, is a community nonprofit that reported $4.3M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $3.8M left a modest 11% surplus.

Mission

A WATER COMPANY THAT PROVIDES WATER SERVICE TO PORTIONS OF THE CITY OF COVINA, AND WEST COVINA.

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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 $3,576,987

Investment Income $609,261

Other Revenue $75,946

TOTAL REVENUE $4,262,194

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,201,404

Fundraising Expenses $0

Other Expenses $2,575,100

TOTAL EXPENSES $3,776,504

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,262,194	$3,341,150	+0.3%
Expenses	$3,776,504	$3,291,331	+0.1%
Net Income	$485,690	$49,819	+8.7%

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

$308,907

Total Directors

$19,880

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
P DAVID MICHALKO	GENERAL MANAGER	40.00	Officer	$243,762	$49,825	$293,587
TIMOTHY PACHECO	WATER SYSTEM SUPERVISOR	40.00	Highest	$139,905	$35,566	$175,471
GLORIA GALINDO	OFFICE MANAGER	40.00	Highest	$129,592	$12,723	$142,315
DANIEL LIESE	CHAIRMAN	0.50	Officer Director	$4,380	$0	$4,380
SERGIO ISLAS	VICE CHAIRMAN	0.50	Officer Director	$2,880	$0	$2,880
JOHN ACKERBOOM	TREASURER	0.50	Officer Director	$4,460	$0	$4,460
ROBERT GHIRELLI	SECRETARY	0.50	Officer Director	$3,600	$0	$3,600
DR SERGIO HERNANDEZ	DIRECTOR	0.50	Director	$2,640	$0	$2,640
SYLVIA BELTRAN	DIRECTOR	0.50	Director	$1,920	$0	$1,920

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	$4,262,194	$3,776,504	$15,974,451	$485,690
2023	$3,341,150	$3,291,331	$14,857,229	$49,819
2022	$3,276,450	$3,422,216	$15,094,983	$-145,766
2021	$3,362,028	$3,322,796	$15,788,304	$39,232
2020	$3,669,145	$2,617,619	$15,582,633	$1,051,526
2019	$2,760,285	$2,581,112	$14,668,769	$179,173
2018	$3,088,238	$2,618,246	$14,257,024	$469,992

VALENCIA HEIGHTS WATER COMPANY