B&B Water Project Inc

Nonprofit profile at a glance

EIN
351144643
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Bloomington, IN, USA
Phone
8123320577
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,104,749
Expenses
$1,249,723
Assets
$1,331,293
Liabilities
$496,322

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • DALE LISBY (President)
  • JAY FLOYD (Vice President)

Highest reported compensation

  • JEFFREY H UNDERWOOD (Treasurer): $20,595 total reported compensation
  • DALE LISBY (President): $5,840 total reported compensation
  • JAY FLOYD (Vice President): $3,015 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide treated drinking water to customers/members

What it reported doing in 2025

Provide drinking water to members/customers

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 68
  • Sustainability: 26
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -13.1%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 1.07; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 9.5% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 9.4% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: -1.2% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.7% of spending went to programs
  • Governance: 1885 of 1885 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $21K · 12 people listed
  • Highest-paid contractors: 1 contractor listed · $422K reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Review — Sustainability: Officer compensation ratio scored 53/100.