Lake Palo Pinto Area Water Supply Corporation

Nonprofit profile at a glance

EIN
752398330
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Gordon, TX, USA
Phone
9407693345
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,081,370
Expenses
$1,154,101
Assets
$3,946,418
Liabilities
$1,812,429

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • KAREN KOONSMAN (PRESIDENT)

People named in this filing

  • KAREN KOONSMAN (PRESIDENT)
  • HARRY ROMINE (VICE PRESIDE)
  • JERRY STREETER (SECRETARY/TR)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide low cost water service to the residents of the lake palo pinto water area.

What it reported doing in 2025

The purpose of the organization is to provide residents of the lake palo pinto area with a low cost water supply system where municipal water is not available.

Operating model

Revenue model
Earned-program. 89% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 94
  • Sustainability: 41
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.7%; rating input score 94
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.7%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 3.42; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.46; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: -1.4% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 16 filing years from 2010 to 2025
  • 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.

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 — Sustainability: Operating margin scored 17/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.