Spanish Lakes Mutual Water Company

Nonprofit profile at a glance

EIN
770567105
IRS 990 coverage
2021–2025
Forms available
Form 990 2025, Form 990-EZ 2020
Location
Atascadero, CA, USA
Phone
8054628608
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Local Benevolent Life Insurance Associations

Reported finances

Revenue
$105,174
Expenses
$83,024
Assets
$604,554
Liabilities
$1,328

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

Leadership & pay

3 people listed

Executive titles in this filing

  • BOB FAIR (President)
  • JIM HAGEN (Vice President)

People named in this filing

  • BOB FAIR (President)
  • CRAIG THOMAS (Treasurer)
  • JIM HAGEN (Vice President)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Manage and operate a mutual water company for the benefit of the property owners of the spanish lakes residential community.

Operating model

Revenue model
Earned-program. 91% 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 - 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: 62
  • Transparency & Controls: 81
  • Accountability: 0
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.3%; rating input score 63
  • Program expense ratio: 80.2%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 10th 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; 8th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21.1%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 7.28; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 11.1% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 63.3% of revenue deployed · 80.2% of spending went to programs
  • Governance: 0 of 3 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $67K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2021 to 2025
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.