Pace Water System Inc

Nonprofit profile at a glance

EIN
591098296
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Pace, FL, USA
Phone
8509945129
Rating
41
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$21,077,616
Expenses
$12,947,418
Assets
$163,368,950
Liabilities
$5,904,113

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

Leadership & pay

8 people listed

Executive titles in this filing

  • BILL CARNEY (PRESIDENT)

Highest reported compensation

  • DAMON BOUTWELL (GENERAL MANA): $180,295 total reported compensation
  • DOUG DANGELO (CONTROLLER): $115,019 total reported compensation

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

Overview

Mission

To operate and maintain a system for the supply and distribution of water, sewer, and reuse within its franchise area granted by santa rosa county.

Operating model

Revenue model
Earned-program. 95% 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

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 63
  • Accountability: 74
  • Sustainability: 86
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 87.5%; rating input score 88; 2nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 38.6%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 12.62; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 2.3%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: -7.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 12.7% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 6 of 6 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $180K · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $9.4M reported
  • Consistency: 9 of 11 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.