FOX ISLANDS ELECTRIC COOPERATIVE INC (EIN 010333304) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1975

Legal Domicile

Principal Officer

AMY TURNER

Phone

2078634636

Tax Period

2023-01-01 to 2023-12-31

FOX ISLANDS ELECTRIC COOPERATIVE INC is a tax-exempt nonprofit with EIN 010333304, based in VINALHAVEN, ME. Founded in 1975, the organization files IRS Form 990 and reported its most recent data for fiscal year 2023. In that period, it reported $2,926,731 in total revenue and $2,926,731 in total expenses, with net assets of $7,487,283.

Mission

DISTRIBUTION OF ELECTRICAL SERVICES TO VINALHAVEN AND NORTH HAVEN ISLANDS IN MAINE.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $43,361

Other Revenue $2,883,370

TOTAL REVENUE $2,926,731

Expense Breakdown

Grants Paid $0

Salaries & Benefits $512,512

Fundraising Expenses $0

Other Expenses $2,090,614

TOTAL EXPENSES $2,926,731

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,926,731	$2,624,320	+0.1%
Expenses	$2,926,731	$2,624,320	+0.1%
Net Income	$0	N/A	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

$132,996

Total Directors

$970

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY TURNER	CEO	40.00	Officer	$132,536	$0	$132,536
LOREN BUNKER	LINE SUPERVI	40.00	Highest	$118,594	$0	$118,594
JEFFREY MARTIN	TREASURER	1.00	Officer Director	$120	$0	$120
L PATRICK TRAINOR	PRESIDENT	1.00	Officer Director	$120	$0	$120
CHAD KING	VICE PRESIDE	1.00	Officer Director	$110	$0	$110
ALAN LAZARO	DIRECTOR	1.00	Director	$110	$0	$110
DENNIS PRATT	DIRECTOR	1.00	Director	$110	$0	$110
SHERI ROMER	SECRETARY	1.00	Officer Director	$110	$0	$110
AARON CABOT	DIRECTOR	1.00	Director	$100	$0	$100
KATHLEEN MACY	DIRECTOR	100.00	Director	$100	$0	$100
DON YOUNG	DIRECTOR	1.00	Director	$90	$0	$90

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	No data	No data	No data	No data
2023	$2,926,731	$2,926,731	$19,465,997	No data
2022	$2,624,320	$2,624,320	$19,483,806	No data
2021	$2,614,892	$2,614,892	$18,896,049	No data
2020	$2,545,997	$2,545,997	$19,431,125	No data
2019	$2,422,247	$2,422,247	$20,046,328	No data
2018	$2,502,615	$2,502,615	$20,732,081	No data

FOX ISLANDS ELECTRIC COOPERATIVE INC