Mustang Valley Water Supply Corp

Nonprofit profile at a glance

EIN
742107745
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Cranfills Gap, TX, USA
Phone
2545972445
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$872,625
Expenses
$835,270
Assets
$2,624,818
Liabilities
$1,193,961

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

Leadership & pay

11 people listed

Executive titles in this filing

  • MIKE UPTON (PRESIDENT JAN-DEC)
  • JASON COX (VICE PRESIDENT JAN-DEC)

Highest reported compensation

  • RODNEY MURRY (GENERAL MANAGER): $66,510 total reported compensation
  • KAREN THOMASY (ADMINISTRATIVE MANAGER): $56,160 total reported compensation

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

Overview

Mission

Certified regional water system in rural bosque county, Texas committed to providing clean, safe water for all our members

What it reported doing in 2024

Produce and distribute water to meters owned by members for use in homes, businesses, and for agricultural purposes. Mustang valley water supply corporation served 835 meters in the calendar year ending december 31, 2024.

Operating model

Revenue model
Earned-program. 93% 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

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

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68%; rating input score 68
  • Program expense ratio: 72.7%; rating input score 73
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.3%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 3.14; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 14.7%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 68% of revenue deployed · 72.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $607K in reported program spending
  • Leadership: top reported pay $67K · 11 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.