Bondmadison Water Company
Nonprofit profile at a glance
- EIN
- 371329067
- IRS 990 coverage
- 2017–2025
- Forms available
- Form 990 2025
- Location
- Pocahontas, IL, USA
- Phone
- 6186692861
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Water Resource, Wetlands Conservation and Management
Reported finances
- Revenue
- $3,855,411
- Expenses
- $3,774,993
- Assets
- $12,274,253
- Liabilities
- $7,736,512
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- DARREN APKEN (PRESIDENT)
- RANDY HAUKAP (VICE PRESIDENT)
Highest reported compensation
- TOM EYMAN (TREASURER): $1,250 total reported compensation
- ROBERT SCHRUMPF (TRUSTEE): $1,225 total reported compensation
- DARREN APKEN (PRESIDENT): $1,200 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide water to rural member customers
Operating model
- Revenue model
- Earned-program. 97% 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: 87
- Transparency & Controls: 90
- Accountability: 72
- Sustainability: 48
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 95.7%; rating input score 96
- Program expense ratio: 99.6%; rating input score 100
- 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; 63rd percentile among comparable filings
- Governance controls: 3 of 9 controls in place; rating input score 33
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 2.1%; rating input score 34; 34th percentile among comparable filings
- Total-asset coverage ratio: 3.25; rating input score 72; 72nd percentile among comparable filings
- Liabilities to assets ratio: 0.63; rating input score 12; 12th percentile among comparable filings
- Officer compensation ratio: 0.3%; rating input score 80; 80th percentile among comparable filings
Growth
- Program expense growth: 4.9% per year; rating input score 100; 35th percentile among comparable filings
- Revenue growth: 3.7% per year; rating input score 100; 27th percentile among comparable filings
- Asset growth: -1.5% per year; rating input score 0; 7th percentile among comparable filings
Details
- Where the money goes: 95.7% of revenue deployed · 99.6% of spending went to programs
- Governance: 8 of 8 board members independent · 3 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $3.8M in reported program spending
- Leadership: top reported pay $1K · 9 people listed
- Consistency: 31 of 31 current checks pass
- Schedules: 2 filed schedules
- Filing history: 9 filing years from 2017 to 2025
- Contacts: How to reach this organization
- Money network: 9 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Accountability: Governance controls: 6 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 34/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 12/100.