Tract 349 Mutual Water Company

Nonprofit profile at a glance

EIN
951304730
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Cudahy, CA, USA
Phone
3235601601
Rating
36
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$1,031,611
Expenses
$682,640
Assets
$5,404,642
Liabilities
$134,969

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DANIEL VENEGAS (VICE - PRESIDENT)
  • DONALD ROBERT BRABANT (PRESIDENT)

Highest reported compensation

  • DANIEL VENEGAS (VICE - PRESIDENT): $7,200 total reported compensation
  • LUIS GARCIA (BOARD MEMBER): $7,200 total reported compensation
  • JOSE MENDOZA (BOARD MEMBER): $7,200 total reported compensation

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

Overview

Mission

Provide water to community property owners - individuals and businesses

What it reported doing in 2024

The organization's sole mission and program service is to function as a local water district providing water to its owners.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. 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: 10
  • Sustainability: 80
  • 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: 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: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 33.8%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 7.92; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 7.8% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 15.1% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $7K · 5 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Sustainability: Officer compensation ratio scored 53/100.