THERMIC MUTUAL WATER COMPANY (EIN 952130949) - 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

1931

Legal Domicile

Phone

8054852919

Tax Period

2023-01-01 to 2023-12-31

THERMIC MUTUAL WATER COMPANY, founded in 1931, is a small nonprofit that reported $247K in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $310K exceeded revenue, resulting in a 25% operating deficit.

Mission

PURPOSE OF THE COMPANY IS TO SUPPLY WATER AND MAINTAIN A WATER SUPPLY FOR ITS SHAREHOLDERS. THIS INCLUDES THE PAYMENT OF OPERATING COSTS AND CAPITAL ADDITIONS. THE FUNDS ASSESSED MEMBERS ARE FOR CAPITAL IMPROVEMENTS AND TO COVER THE COST OF MAINTAINING THE WATER SUPPLY SYSTEM. ALL FUNDS ARE RESTRICTED TO USE FOR THE INTENDED PURPOSE.

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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 $247,118

Investment Income $50

Other Revenue $0

TOTAL REVENUE $247,168

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $309,565

TOTAL EXPENSES $309,565

Year-over-Year Comparison

	2023	2022	Change
Revenue	$247,168	$206,880	+0.2%
Expenses	$309,565	$464,037	-0.3%
Net Income	$-62,397	$-257,157	-0.8%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
LOUIS MCCUCHEON	Director	Director	$0	$0	$0
JOSHUA L WATERS	President	Director	$0	$0	$0
PATTY WATERS	Director	Director	$0	$0	$0
SRIDHAR MANTHANI	Director	Director	$0	$0	$0
MIKE MAGDALENO	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	$247,168	$309,565	$154,209	$-62,397
2022	$206,880	$464,037	$171,758	$-257,157
2021	$369,674	$395,179	$450,027	$-25,505
2020	$394,168	$515,790	$494,775	$-121,622
2019	$393,268	$300,160	$555,417	$93,108

THERMIC MUTUAL WATER COMPANY