Logansport Water System

Nonprofit profile at a glance

EIN
462920155
IRS 990 coverage
2020–2025
Forms available
Form 990 2025, Form 990-EZ 2019, Form 990-N 2015
Location
Boone, IA, USA
Phone
5152301790
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Water Resource, Wetlands Conservation and Management

Reported finances

Revenue
$103,931
Expenses
$120,997
Assets
$1,461,562
Liabilities
$783,143

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

Leadership & pay

6 people listed

Executive titles in this filing

  • LOWELL GRAHAM (President)
  • CARL OHRTMAN (Vice President)

Highest reported compensation

  • LOWELL GRAHAM (President): $4,548 total reported compensation
  • SUE HUDSON (Secretary/Treas): $4,223 total reported compensation
  • JOEL LINDAHL (Director): $1,429 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's purpose is to provide water for residential and agricultural purposes in the logansport, Iowa area.

What it reported doing in 2025

Providing water for residential and agricultural purposes in the logansport, Iowa area.

Operating model

Revenue model
Earned-program. 91% 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.

The verdict

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

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 72
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.3%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 64th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 12.08; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 8.4%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 13.4% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 22.9% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.3% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $117K in reported program spending
  • Leadership: top reported pay $5K · 6 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 7 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.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.