Levi Water Supply Corporation

Nonprofit profile at a glance

EIN
741502882
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Lorena, TX, USA
Phone
2548573050
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,122,843
Expenses
$859,258
Assets
$4,776,317
Liabilities
$2,274,639

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Chris Miller (President)
  • John Hahne (Vice-president)

Highest reported compensation

  • Jim Sheffield (Manager): $64,656 total reported compensation

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

Overview

Mission

To provide a reliable source of potable water to all residential, commercial, and agricultural members at a reasonable cost in a manner that protects the environment and promotes development.

What it reported doing in 2024

The organization furnishes a water utility service to rural areas of Falls and McLennan Counties, Texas. Current number of meters serviced is 788.

Operating model

Revenue model
Earned-program. 84% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.8%; rating input score 50
  • Program expense ratio: 65.1%; rating input score 65
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 23.5%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 5.56; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.48; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 5.2% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 49.8% of revenue deployed · 65.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $65K · 6 people listed
  • Highest-paid contractors: 1 contractor listed · $105K reported
  • Consistency: 24 of 26 current checks pass · 2 findings to review
  • Schedules: 2 filed schedules
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.