CALIFORNIA WATER ASSOCIATION

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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

1941

Legal Domicile

Phone

9162312147

Tax Period

2025-01-01 to 2025-12-31

CALIFORNIA WATER ASSOCIATION, founded in 1941, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2025.

Mission

THE CALIFORNIA WATER ASSOCIATION (CWA) REPRESENTS THE INTERESTS OF APPROX 84 INVESTOR-OWNED WATER UTILITIES THAT ARE REGULATED BY THE CALIFORNIA PUBLIC UTILITIES COMMISSION. THE ASSOCIATION ASSISTED ITS MEMBERS IN PROVIDING HIGH QUALITY WATER UTILITY SERVICES TO CUSTOMERS THROUGHOUT CALIFORNIA. CWA PROVIDED A FORUM FOR SHARING BEST MANAGEMENT PRACTICES. IT PROMOTED SOUND WATER POLICY FOR CONSIDERATION BY LEGISLATORS AND REGULATORY AGENCIES AND ASSISTED ITS MEMBERS ON EDUCATING THEIR CUSTOMERS ON THE PROTECTION AND EFFICIENT USE OF WATER RESOURCES. CWA ASSISTED LARGE MEMBERS IN PROGRAMS EMPHASIZING SUPPLIER DIVERSITY WITH RESPECT TO UTILITY PROCUREMENT, AS WELL AS WITH THE LOW INCOME RATEPAYER ASSISTANCE PROGRAMS.

Program Service Accomplishments

Program 1

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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 (2025)

Revenue Breakdown

Contributions & Grants $2,451,499

Program Service Revenue $236,850

Investment Income $0

Other Revenue $70,093

TOTAL REVENUE $2,758,442

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $2,779,045

TOTAL EXPENSES $2,779,045

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,758,442	$2,713,386	+0.0%
Expenses	$2,779,045	$2,741,683	+0.0%
Net Income	$-20,603	$-28,297	-0.3%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
John Tang	President	1.00	Officer Director	$0	$0	$0
Carmelitha Bordelon	Vice President	1.00	Director	$0	$0	$0
Joel Reiker	Vice President	1.00	Officer Director	$0	$0	$0
Rami Kahlon	Vice President	1.00	Director	$0	$0	$0
Juan Liam	Trustee	1.00	Director	$0	$0	$0
Tom Adcock	Director	1.00	Director	$0	$0	$0
Shay Bakman	Director	1.00	Director	$0	$0	$0
Bryan Fortino	Trustee	1.00	Director	$0	$0	$0
Evan Jacobs	Trustee	1.00	Director	$0	$0	$0
Stan Ferraro	Director	1.00	Director	$0	$0	$0
Greg Milleman	Trustee	1.00	Director	$0	$0	$0
Jennifer Lukins	Director	1.00	Director	$0	$0	$0
Jon Pierotti	Secretary/Treas	1.00	Director	$0	$0	$0
Manasa Rao	Director	1.00	Director	$0	$0	$0
Jack Downey	Director	1.00	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	$2,758,442	$2,779,045	$616,829	$-20,603
2024	No data	No data	No data	No data
2023	$2,461,908	$2,348,421	$469,137	$113,487
2022	$2,478,745	$2,458,564	$349,382	$20,181
2021	$2,200,485	$2,156,874	$342,860	$43,611
2020	$2,096,850	$2,004,250	$403,613	$92,600
2019	$2,221,745	$2,187,080	$218,956	$34,665
2018	$2,009,946	$1,934,104	$158,075	$75,842