Multi-county Water Supply Corp

Nonprofit profile at a glance

EIN
742146767
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Gatesville, TX, USA
Phone
2548652269
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,528,367
Expenses
$1,171,489
Assets
$5,900,040
Liabilities
$1,547,234

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

Leadership & pay

13 people listed

Executive titles in this filing

  • KYLE MATTHEWS (President)
  • ROYCE RHOADES (Vice President)

Highest reported compensation

  • DENTON S DICK (OPERATOR): $77,084 total reported compensation
  • JACOB A TOMBAUGH: $58,001 total reported compensation
  • KATHERINE M TIMMONS (MANAGER): $46,376 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 provides water to rural water users. They had approx. 1300 active customers at year end.

What it reported doing in 2024

The Corporation provides water to rural water users. They had approximately 1300 active customers at year end.

Operating model

Revenue model
Grant-funded. 69% of the money available for current operations came from government grants.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.5%; rating input score 98
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 23.4%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 5.04; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 18.4%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.5% of spending went to programs
  • Governance: 0 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $77K · 13 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.