EASTERN MAINE ELECTRIC COOPERATIVE INC (EIN 010056837) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1940

Legal Domicile

Principal Officer

Scott M Hallowell

Phone

2074547555

Tax Period

2024-01-01 to 2024-12-31

EASTERN MAINE ELECTRIC COOPERATIVE INC, founded in 1940, is a mid-sized nonprofit that reported $18.4M in total revenue in fiscal year 2024.

Mission

EMEC is a non-profit consumer owned electric utility serving parts of Aroostook, Penobscot & Washington Counties on Maine's eastern border with Canada.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $17,962,764

Investment Income $417,024

Other Revenue $0

TOTAL REVENUE $18,379,788

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,760,242

Fundraising Expenses $0

Program Expenses $18,379,788

Other Expenses $15,076,851

TOTAL EXPENSES $18,379,788

Year-over-Year Comparison

	2024	2023	Change
Revenue	$18,379,788	$17,279,980	+0.1%
Expenses	$18,379,788	$17,279,980	+0.1%
Net Income	$0	$0	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$682,179

Total Directors

$58,950

Key Employees

$920,662

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Scott M Halowell	Chief Executive Officer	50	Officer	$279,800	$221,294	$501,094
Andrew M Tickle	Manager of Engineering	45	Key Emp Highest	$168,832	$85,021	$253,853
Michael Carrier	Manager of Operations	45	Key Emp	$143,766	$108,302	$252,068
Charles E McAlpin	Manager of Member Services	45	Key Emp	$145,620	$88,005	$233,625
Elery Beale	Manager of Information Technology	45	Key Emp	$137,875	$43,241	$181,116
Warren Moholland	Chief Financial Officer	45	Officer	$125,674	$38,211	$163,885
John L Gallant	Board Member	3	Director	$7,250	$0	$7,250
R Scott Skinner	President	4	Officer Director	$7,200	$0	$7,200
David A Johnson	Board Member	3	Director	$7,000	$0	$7,000
Timothy R Peters	Board Member	3	Director	$7,000	$0	$7,000
David A Harbison	Board Member	4	Director	$6,750	$0	$6,750
John Leighton	Board Member	1	Director	$6,750	$0	$6,750
Dana R Hatton	Board Member	1	Director	$5,500	$0	$5,500
Lawrence E Clark	Treasurer	1	Officer Director	$3,250	$0	$3,250
John Larkin	Secretary	2	Officer Director	$3,250	$0	$3,250
Earl Hill Jr	Vice President	1	Officer Director	$3,000	$0	$3,000
Dwayne Young	Board Member	2	Director	$1,500	$0	$1,500
Ralph Staples	Vice President	0	Officer Director	$500	$0	$500

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$18,379,788	$18,379,788	$54,786,062	No data
2023	$17,279,980	$17,279,980	$53,940,615	No data
2022	$16,866,575	$16,866,575	$52,505,943	No data
2021	$16,418,871	$16,418,871	$49,482,318	No data
2020	$17,054,169	$17,054,169	$44,341,885	No data
2019	$16,344,174	$16,344,174	$47,261,635	No data
2018	$16,018,721	$16,018,721	$47,109,596	No data

EASTERN MAINE ELECTRIC COOPERATIVE INC