Irvine Ranch Water District Water Service Corporation

Nonprofit profile at a glance

EIN
911874346
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Irvine, CA, USA
Phone
9494535300
Rating
27
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$11,159,288
Expenses
$5,102,651
Assets
$10,524,298
Liabilities
$117,955,863

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

Leadership & pay

15 people listed

Executive titles in this filing

  • STEVEN LAMAR (VICE PRESIDENT)
  • DOUG REINHART (PRESIDENT)
  • KEVIN BURTON (EXECUTIVE DIRECTOR, TECHNI)
  • PAUL WEGHORST (EXECUTIVE DIRECTOR, WATER)
  • WENDY CHAMBERS (EXECUTIVE DIRECTOR, OPERAT)

Highest reported compensation

  • PAUL COOK (GENERAL MANAGER): $534,796 total reported compensation
  • PAUL WEGHORST (EXECUTIVE DIRECTOR, WATER): $381,945 total reported compensation
  • KEVIN BURTON (EXECUTIVE DIRECTOR, TECHNI): $381,323 total reported compensation

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

Overview

Mission

The corporation was formed for purposes which include the rendering of financial assistance to irvine ranch water district and the acquisition by purchase or other means of water companies or any interest therein for the benefit of the district. The organization has facilitated transactions needed by the district for the acquistion of two small water systems that were consolidated with the district.

What it reported doing in 2024

Provided financial assistance to irvine ranch water district.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
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 and revenue comfortably covers expenses. 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: 60
  • Accountability: 29
  • Sustainability: 65
  • Growth: 0

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: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 10%; rating input score 10; 6th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 54.3%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 2.06; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 11.21; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 10.6%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -13.6% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -21.8% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 1 of 10 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $535K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Independent voting board scored 10/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Review — Grant Readiness: California registration: this organization could not be resolved against the register, so the check is unfinished.