Firgrove Mutual Inc

Nonprofit profile at a glance

EIN
910822808
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Puyallup, WA, USA
Phone
2538451542
Rating confidence
Limited

Official website

Reported finances

Revenue
$7,137,903
Expenses
$8,333,265
Assets
$51,449,018
Liabilities
$2,618,583

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DONALD ROSE (PRESIDENT/TRUSTEE)
  • ERIC OTT (VP/PRESIDENT)

Highest reported compensation

  • LARRY JONES (GENERAL MANAGER): $224,428 total reported compensation
  • LORI TRIPLETT (FINANCE DIRECTOR): $204,159 total reported compensation
  • KIM GLASER (FINANCE SUPERVISOR): $161,948 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Firgrove mutual inc. Is a Washington corporation established for the purpose of installing, maintaining, and operating a water supply system for its membership.

What it reported doing in 2024

Firgrove aggressively safeguards its water supply in order to provide a safe and reliable supply of water. Firgrove upholds the standards set by the Washington state department of health and the united states environmental protection agency. The mutual is proud of its record of providing high quality of water and service to its customers.the company has grown to embrace a population of about 28,000 residents and continues to expand as new developments are added within the service area. The organization provided water service to approximately 11,252 members.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 41
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -16.7%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 6.17; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 10.8%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $224K · 10 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $853K reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 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 — Sustainability: Operating margin scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.