NEW HAMPSHIRE ELECTRIC COOPERATIVE… - Form 990 Financial Data

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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

1939

Legal Domicile

Principal Officer

ALYSSA CLEMSEN ROBERTS

Phone

6035361800

Tax Period

2023-01-01 to 2023-12-31

NEW HAMPSHIRE ELECTRIC COOPERATIVE INC, founded in 1939, is a major nonprofit that reported $183.2M in total revenue in fiscal year 2023.

Mission

OUR MISSION IS TO PROVIDE OUR MEMBERS THE ABILITY TO ACCESS AFFORDABLE, RELIABLE ELECTRIC AND BROADBAND SERVICE OPTIONS THAT SUPPORT AND SIMPLIFY THEIR LIVES.

Program Service Accomplishments

Program 1

ALL RECEIPTS FROM SALE OF ELECTRIC ENERGY AND RELATED SERVICE ACTIVITIES IN EXCESS OF OPERATING COSTS ARE RECEIVED WITH THE UNDERSTANDING THAT IT IS FURNISHED BY THE PATRONS AS CAPITAL. THIS CAPITAL SHALL BE ALLOCATED TO THE COOPERATIVE MEMBER ON A PATRONAGE BASIS. CURRENTLY, NEW HAMPSHIRE ELECTRIC COOPERATIVE, INC. PROVIDES ELECTRIC ENERGY TO APPROXIMATELY 88,000 ACTIVE MEMBER SERVICES THROUGHOUT NEW HAMPSHIRE.

Program 2

THE BROADBAND DIVISION, A SINGLE MEMBER LLC, PROVIDES BROADBAND INTERNET SERVICES THROUGH THE CONSTRUCTION OF A FIBER-OPTIC NETWORK. WHEN CUMULATIVE NET MARGINS DERIVED FROM MEMBER SALES OF BROADBAND INTERNET SERVICES EXCEED CUMULATIVE LOSSES FROM SUCH SALES, THE COOPERATIVE WILL ALLOCATE PATRONAGE CAPITAL TO THE MEMBERS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $183,116,343

Investment Income $6,433

Other Revenue $93,931

TOTAL REVENUE $183,216,707

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,619,738

Fundraising Expenses $0

Other Expenses $153,567,349

TOTAL EXPENSES $185,643,480

Year-over-Year Comparison

	2023	2022	Change
Revenue	$183,216,707	$186,063,964	0.0%
Expenses	$185,643,480	$187,535,765	0.0%
Net Income	$-2,426,773	$-1,471,801	+0.6%

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

260

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

$1,342,015

Total Directors

$328,600

Key Employees

$1,054,951

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHARON DAVIS	BOARD CHAIR	7.00	Officer Director	$33,300	$0	$33,300
MADELINE MCELANEY	VICE CHAIR	11.00	Officer Director	$30,750	$0	$30,750
BRENDA BOISVERT	SECRETARY	4.00	Officer Director	$26,550	$0	$26,550
EDWARD FRENCH	TREASURER	7.00	Officer Director	$34,400	$0	$34,400
CAROLYN KEDERSHA	ASSISTANT TR	7.00	Officer Director	$8,200	$22,500	$30,700
JEFFREY MORRILL	DIRECTOR	4.00	Director	$28,600	$0	$28,600
THOMAS MONGEON	DIRECTOR	8.00	Director	$33,200	$0	$33,200
WILLIAM DARCY	DIRECTOR	13.00	Director	$35,300	$0	$35,300
LEO DWYER	DIRECTOR	5.00	Director	$24,450	$0	$24,450
ALANA ALBEE	DIRECTOR	3.00	Director	$25,050	$0	$25,050
HARRY VEINS	DIRECTOR	7.00	Director	$26,300	$0	$26,300
ALYSSA CLEMSEN ROBERTS	CEO	52.00	Officer	$472,335	$111,414	$583,749
JAMES BAKAS	COO	50.00	Officer	$289,601	$47,476	$337,077
KRISTEN TAYLOR	CFO/VP OF FI	48.00	Officer	$204,387	$61,102	$265,489
MICHAEL JENNINGS	VP OF POWER	52.00	Key Emp	$251,461	$73,482	$324,943
JOSHUA MAZZEI	VP OF OPERAT	49.00	Key Emp	$201,400	$78,666	$280,066
CARLA MUNOZ	VP OF PEOPLE	46.00	Key Emp	$204,545	$21,695	$226,240
JONATHAN NELSON	VP OF BROADB	41.00	Key Emp	$170,720	$52,982	$223,702
SONJA GONZALEZ	CIO	41.00		$129,869	$16,766	$146,635
PETER GLENSHAW	VP OF MEMBER	40.00		$116,238	$1,127	$117,365
BRIAN CALLNAN	VP OF POWER	44.00		$117,261	$35,754	$153,015
DENNIS WESTERN	DIRECTOR OF	41.00	Highest	$177,671	$54,219	$231,890
BRIAN JERRY	WORKING FORE	56.00	Highest	$174,895	$52,539	$227,434
JEREMY CLAAR	LINEWORKER	56.00	Highest	$171,428	$31,234	$202,662
JEFFREY MCKENZIE	DISTRICT REP	52.00	Highest	$164,698	$13,420	$178,118
ROBERT HOWLAND	DIR. OF POWE	42.00	Highest	$161,882	$38,349	$200,231

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$183,216,707	$185,643,480	$360,411,315	$-2,426,773
2022	$186,063,964	$187,535,765	$326,303,689	$-1,471,801
2021	$155,106,734	$158,184,069	$293,476,892	$-3,077,335
2020	$141,721,140	$141,721,140	$286,001,389	No data
2020	$141,721,140	$141,721,140	$286,001,389	No data
2019	$142,800,980	$142,800,980	$284,059,644	No data
2018	$145,725,030	$145,725,030	$288,200,763	No data

NEW HAMPSHIRE ELECTRIC COOPERATIVE INC