Forney Lake Water Supply Corp

Nonprofit profile at a glance

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

5 people listed

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Furnishing treated water to members - water.

Furnishing treated water to its members residing in the service area.

Revenue model: No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model: No current program activity. The filing reports no program spending for the current year.

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

Consistency checks: 88.9%; rating input score 89; 9th percentile among comparable filings
Pay-setting controls: Limited
Foreign activity oversight: Limited
Grant itemization coverage: Limited
Major donor itemization: Limited
Related-party transparency: Limited

Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail

Operating margin: Limited
Total-asset coverage ratio: Limited
Liabilities to assets ratio: 0; rating input score 31; 31st percentile among comparable filings
Officer compensation ratio: Limited

Program expense growth: -17.4% per year; rating input score 0; 20th percentile among comparable filings
Revenue growth: 3.5% per year; rating input score 100; 73rd percentile among comparable filings
Asset growth: 10.6% per year; rating input score 100; 81st percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 0 of 5 board members independent · 2 of 7 filing controls reported
Programs: 1 filed program accomplishment
Leadership: top reported pay $0 · 5 people listed
Consistency: 11 of 12 current checks pass · 1 finding to review
Schedules: 2 filed schedules
Filing history: 13 filing years from 2010 to 2024
Contacts: How to reach this organization
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.

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

High — Accountability: Independent voting board scored 0/100.
High — Accountability: Governance controls: 4 of 6 not reported.
Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
High — Growth: Program expense growth scored 0/100.