Payne County Rural Water Corporation 3

Nonprofit profile at a glance

EIN
237433333
IRS 990 coverage
2011–2018
Forms available
Form 990 2018
Location
Stillwater, OK, USA
Phone
4053771305
Rating
44
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Utilities

Reported finances

Revenue
$2,349
Expenses
$4,421
Assets
$192,900
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

5 people listed

People named in this filing

  • KENT BRADLEY (MEMBER)
  • BRYCE CAMPBELL (MEMBER)
  • ROBERT SITTON (Chairman)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

1. To distribute back assets of the corporation to its members holding membership certificates within a reasonable period of time following the sale of the corporate assets and net proceeds from the sale of the water distribution system that was for the use and benefit of its members. 2. To educate its members on issues affecting or pertaining to the provision of water and other services located in the rural, unicorporated areas formerly served by the water distribution system. To conduct meetings and provide a forum for the discussion of issues and concerns of the rural water customers. To advise and make recommendations to the rural water advisory board of the city of stillwater, Oklahoma on matters pertainig to the operation and maintenance of the rural water system previously operated by the corporation and now operated and maintained by the city of stillwater.

What it reported doing in 2018

1. To distribute back assets of the corporation to its members holding membership certificates within a reasonable period of time following the sale of the corporate assets and net procees from the sale of the water distribution system that was for the use and benefit of its members. 2. To educate its members on issues affecting or pertaining to the provision of water and others services located in the rural, unicorporated areas formerly served by the water distribution system. To conduct meetings and provide a forum for the discussion of issues and concerns of the rural water customers. To advise and make recommendations to the rural water advisory board of the city of stillwater, Oklahoma on matters pertaining to the operation and maintenance of the rural water system previously operated by the corporation and now operated and maintained by the city of stillwater.

Operating model

Revenue model
Investment-supported. 80% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

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: 90
  • Accountability: 70
  • Sustainability: 52
  • Growth: 0

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: 100%; rating input score 100; 62nd 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -88.2%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 43.63; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -25% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: -15.1% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 8 filing years from 2011 to 2018
  • Contacts: How to reach this organization
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.