Canon Water Company of Pomona California

Nonprofit profile at a glance

EIN
951435297
IRS 990 coverage
2018–2018
Forms available
Form 990 2018, Form 990-EZ 2016, Form 990-N 2013
Location
Pomona, CA, USA
Phone
9096202251
Rating
30
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$16
Expenses
$26,696
Assets
$505,688
Liabilities
$37,763

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • DARRON POULSEN (PRESIDENT)
  • RAUL GARIBAY (VICE PRESIDENT)

Highest reported compensation

  • DARRON POULSEN (PRESIDENT): $173,640 total reported compensation
  • RAUL GARIBAY (VICE PRESIDENT): $167,232 total reported compensation
  • NICK CAPOGNI (DIRECTOR): $114,811 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The company owns and maintains a pipeline which transports water to a water treatment plant owned by the city of pomona, the company's majority stockholder.

What it reported doing in 2018

The company owned and maintained a pipeline which transported water to a water treatment plant owned by the city of pomona.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 71
  • Accountability: 32
  • Sustainability: 26
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -166,750%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 18.94; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: -19% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $174K · 5 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.