The Tunnel Water Company

Nonprofit profile at a glance

EIN
840339415
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Fort Collins, CO, USA
Phone
9704823433
Rating confidence
Limited

Reported finances

Revenue
$1,652,947
Expenses
$2,415,446
Assets
$27,793,516
Liabilities
$23,835,416

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

Leadership & pay

7 people listed

Executive titles in this filing

  • KEITH AMEN (PRESIDENT)
  • CHRIS PLETCHER (VICE PRESIDENT)

Highest reported compensation

  • ERIC WESTLIND (GENERAL MANAGER): $179,693 total reported compensation
  • HEATHER THIEDE (SECRETARY/TREASURER): $80,471 total reported compensation
  • KEITH AMEN (PRESIDENT): $45,000 total reported compensation

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

Overview

Mission

Transmission and delivery of irrigation water to shareholders

What it reported doing in 2024

Twc was formed to acquire and operate a system of collection canals, lakes, reservoirs, and a tunnel, along with the necessary appurtenant facilities and equipment. That water is to be distributed to the company's shareholders on a pro-rata basis according to stock ownership for beneficial use, including irrigation, domestic, mechanical, and other professional uses. Twc collects assessments annually from shareholders for the purpose of funding the operation and maintenance of its facilities and the acquisition of water, water rights, reservoirs, canals, and other physical facilities and equipment as the directors deem necessary.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 60
  • Accountability: 48
  • Sustainability: 37
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 14th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -46.1%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 11.51; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 13.9% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 16.6% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 6 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $180K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 9 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.