MIDWEST RELIABILITY ORGANIZATION

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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

2002

Legal Domicile

Principal Officer

SARA PATRICK

Phone

6518551760

Tax Period

2023-01-01 to 2023-12-31

MIDWEST RELIABILITY ORGANIZATION, founded in 2002, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $21.3M in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

TO IDENTIFY, PRIORITIZE AND ASSURE EFFECTIVE AND EFFICIENT MITIGATION OF RISKS TO THE RELIABILITY AND SECURITY OF THE NORTH AMERICAN BULK POWER SYSTEM BY PROMOTING HIGHLY EFFECTIVE RELIABILITY ORGANIZATIONS (HEROS).

Program Service Accomplishments

Program 1

Expenses: $8,535,344 Revenue: $158,340

COMPLIANCE MONITORING ENFORCEMENT PROGRAM: THE MRO STAFF WILL MONITOR, ASSESS, AND ENFORCE COMPLIANCE OF RELIABILITY STANDARDS FOR EACH REGISTRANT (ALSO KNOWN AS REGISTERED ENTITY) THAT HAS...

COMPLIANCE MONITORING ENFORCEMENT PROGRAM: THE MRO STAFF WILL MONITOR, ASSESS, AND ENFORCE COMPLIANCE OF RELIABILITY STANDARDS FOR EACH REGISTRANT (ALSO KNOWN AS REGISTERED ENTITY) THAT HAS COMPLIANCE RESPONSIBILITIES AS DEFINED IN THE MRO REGISTRY IN A NON-DISCRIMINATORY MANNER WITH THE APPROPRIATE DUE PROCESS. IN THE UNITED STATES, MRO ENFORCES RELIABILITY STANDARDS ACCORDING TO COMMISSION-APPROVED RULES (COMPLIANCE MONITORING AND ENFORCEMENT PROGRAM OR "CMEP"). IN SASKATCHEWAN, MRO CARRIES OUT ITS RESPONSIBILITIES ACCORDING TO AN AGREEMENT WITH THE APPLICABLE PROVINCIAL AUTHORITY. IN MANITOBA, MRO CARRIES OUT ITS RESPONSIBILITIES ACCORDING TO THE APPLICABLE STATUTORY FRAMEWORK IN THE PROVINCE.

Program 2

Expenses: $2,489,475 Revenue: $40,716

RELIABILITY ASSESSMENT:THE MRO ANALYZES, ASSESSES, AND REPORTS ON RELIABILITY AND RESOURCE ADEQUACY IN THE PAST, PRESENT, AND FUTURE. THIS INCLUDES THE LONG-TERM AND SEASONAL ASSESSMENTS AS REQUIRED BY THE RDA. ADDITIONALLY, NERC SHALL ALSO CONDUCT SPECIAL RELIABILITY ASSESSMENTS AS NEEDED.

Program 3

Expenses: $533,459 Revenue: $9,048

TRAINING AND EDUCATION: BY PROVIDING TRAINING AND EDUCATION TO INDUSTRY ON THE IMPLEMENTATION OF THE CMEP, THE APPLICATION OF NERC RELIABILITY STANDARDS, AND SHARING INFORMATION AND BEST PRACTICES...

TRAINING AND EDUCATION: BY PROVIDING TRAINING AND EDUCATION TO INDUSTRY ON THE IMPLEMENTATION OF THE CMEP, THE APPLICATION OF NERC RELIABILITY STANDARDS, AND SHARING INFORMATION AND BEST PRACTICES RELATED TO RELIABILITY AND SECURITY OF THE BULK POWER SYSTEM IN MRO'S REGIONAL FOOTPRINT. IN PARTNERSHIP WITH NERC AND THE OTHER REGIONAL ENTITIES, MRO IS EXPANDING OUTREACH TO STATE AND PROVINCIAL REGULATORS TO EDUCATE AND INFORM KEY DECISION AND POLICY MAKERS OF RISKS TO RELIABILITY AND SECURITY OF THE BULK POWER SYSTEM.

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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 $20,507,276

Program Service Revenue $0

Investment Income $540,894

Other Revenue $226,200

TOTAL REVENUE $21,274,370

Expense Breakdown

Grants Paid $0

Salaries & Benefits $16,484,551

Fundraising Expenses $0

Program Expenses $17,781,967

Other Expenses $4,705,657

TOTAL EXPENSES $21,190,208

Year-over-Year Comparison

	2023	2022	Change
Revenue	$21,274,370	$18,309,870	+0.2%
Expenses	$21,190,208	$19,876,592	+0.1%
Net Income	$84,162	$-1,566,722	-1.1%

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

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

$1,989,831

Total Directors

$356,600

Key Employees

$1,097,117

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARA PATRICK	PRESIDENT/CEO	45.00	Officer	$624,992	$135,415	$760,407
RICHARD BURT	SR. VP & COO	45.00	Officer	$412,535	$74,103	$486,638
JULIE PETERSON	SECRETARY	45.00	Officer	$263,054	$59,070	$322,124
LAM CHUNG	TREASURER	45.00	Officer	$345,781	$74,881	$420,662
BRYAN CLARK	DIRECTOR OF RELIABILITY ANALYSIS	45.00	Key Emp	$239,679	$46,162	$285,841
WILLIAM STEINER	DIRECTOR OF RISK ASSESSMENT & MITIGATION	45.00	Key Emp	$230,895	$72,625	$303,520
JEFF NORMAN	DIRECTOR OF COMPLIANCE MONITORING	45.00	Key Emp	$220,485	$14,167	$234,652
STEEN FJALSTAD	DIRECTOR OF SECURITY	45.00	Key Emp	$214,150	$58,954	$273,104
MARK TIEMEIER	MANAGER OF RISK ASSESSMENT & MITIGATION	45.00	Highest	$208,632	$47,420	$256,052
JULIE SIKES	MANAGER OF O&P COMPLIANCE	45.00	Highest	$204,780	$72,424	$277,204
MARK FLANARY	MANAGER OF CIP COMPLIANCE	45.00	Highest	$204,437	$74,858	$279,295
KEN GARTNER	DIRECTOR OF IT	45.00	Highest	$200,181	$52,263	$252,444
SALVA ANDIAPPAN	PRINCIPAL RELIABILITY ANALYSIS ENG.	45.00	Highest	$198,322	$76,582	$274,904
JEANNE TISINGER	INDEPENDENT DIRECTOR/BOARD MEMBER	6.00	Director	$85,150	$0	$85,150
ERIC SCHMITT	INDEPENDENT DIRECTOR/BOARD MEMBER	5.00	Director	$85,150	$0	$85,150
DR DANA BORN	INDEPENDENT DIRECTOR/BOARD VICE CHAIR	6.00	Director	$93,150	$0	$93,150
THOMAS GRAHAM	INDEPENDENT DIRECTOR/BOARD MEMBER	5.00	Director	$93,150	$0	$93,150
BRAD COX	BOARD CHAIR	6.00	Director	$0	$0	$0
BEN PORATH	BOARD MEMBER	5.00	Director	$0	$0	$0
CHARLES MARSHALL	BOARD MEMBER	5.00	Director	$0	$0	$0
DARCY NEIGUM	BOARD MEMBER	5.00	Director	$0	$0	$0
DARYL MAXWELL	BOARD MEMBER	5.00	Director	$0	$0	$0
DEHN STEVENS	BOARD MEMBER	5.00	Director	$0	$0	$0
ERIC MILLER	BOARD MEMBER	5.00	Director	$0	$0	$0
IQBAL DHAMI	BOARD MEMBER	5.00	Director	$0	$0	$0
JENNIFER FLANDERMEYER	BOARD MEMBER	5.00	Director	$0	$0	$0
JOANN THOMPSON	BOARD MEMBER	5.00	Director	$0	$0	$0
JOHN RHEA	BOARD MEMBER	5.00	Director	$0	$0	$0
JP BRUMMOND	BOARD MEMBER	5.00	Director	$0	$0	$0
LLOYD LINKE	BOARD MEMBER	5.00	Director	$0	$0	$0
MAURICE MOSS	BOARD MEMBER	5.00	Director	$0	$0	$0
MICHAEL LAMB	BOARD MEMBER	5.00	Director	$0	$0	$0
PRITI PATEL	BOARD MEMBER	5.00	Director	$0	$0	$0
SCOTT NICKELS	BOARD MEMBER	5.00	Director	$0	$0	$0
TOM FINCO	BOARD MEMBER	5.00	Director	$0	$0	$0
JAMES NAIL	BOARD MEMBER - OUTGOING	5.00	Director	$0	$0	$0
KERI GLITCH	BOARD MEMBER - OUTGOING	5.00	Director	$0	$0	$0
TODD HILLMAN	BOARD MEMBER - OUTGOING	5.00	Director	$0	$0	$0

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	$21,274,370	$21,190,208	$18,019,999	$84,162
2022	$18,309,870	$19,876,592	$18,395,580	$-1,566,722
2021	$17,505,130	$17,390,961	$14,721,870	$114,169
2020	$16,994,881	$15,842,503	$13,472,109	$1,152,378
2019	$15,787,439	$14,152,014	$10,752,213	$1,635,425
2018	$15,567,793	$13,526,413	$8,980,130	$2,041,380