SOUTHWEST IOWA REC (EIN 200538386) - 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

2004

Legal Domicile

Principal Officer

PHIL KINSER

Phone

8882204869

Tax Period

2024-01-01 to 2024-12-31

SOUTHWEST IOWA REC, founded in 2004, is a mid-sized nonprofit in the Public Safety sector that reported $14.2M in total revenue in fiscal year 2024. Expenses of $13.1M left a modest 8% surplus.

Mission

TO DISTRIBUTE ELECTRIC ENERGY TO OUR MEMBERS IN A MANNER CONSISTENT WITH SOUND BUSINESS PRACTICES.

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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 $13,338,349

Investment Income $88,047

Other Revenue $759,704

TOTAL REVENUE $14,186,100

Expense Breakdown

Grants Paid $0

Salaries & Benefits $278,302

Fundraising Expenses $0

Other Expenses $12,331,704

TOTAL EXPENSES $13,104,050

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,186,100	$13,189,954	+0.1%
Expenses	$13,104,050	$12,619,217	+0.0%
Net Income	$1,082,050	$570,737	+0.9%

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

$250,802

Total Directors

$53,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARILYN WERNER	PRESIDENT	5.87	Officer Director	$10,500	$0	$10,500
MARK HERZBERG	VICE PRESIDENT	2.67	Officer Director	$5,000	$0	$5,000
KAY FAST-DEYOE	SECRETARY	3.21	Officer Director	$6,250	$0	$6,250
JASON SMITH	TREASURER	2.95	Officer Director	$4,000	$0	$4,000
ADAM BOSWELL	DIRECTOR	2.35	Director	$1,250	$0	$1,250
DEENA MOORE	DIRECTOR	4.69	Director	$4,000	$0	$4,000
DANA MORGAN	DIRECTOR	1.35	Director	$2,750	$0	$2,750
DALE WALKUP	DIRECTOR	2.27	Director	$4,000	$0	$4,000
TERRY BARNES	DIRECTOR	4.25	Director	$6,000	$0	$6,000
ALAN SPENCER	DIRECTOR	1.17	Director	$4,000	$0	$4,000
BONNIE LARSON	DIRECTOR	3.10	Director	$5,500	$0	$5,500
PHIL KINSER	CEO/GENERAL MANAGER	40.00	Officer	$187,558	$37,494	$225,052
JUSTIN MURPHY	DIRECTOR OF OPERATIONS	40.00	Highest	$111,208	$35,745	$146,953

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	$14,186,100	$13,104,050	$49,599,324	$1,082,050
2023	$13,189,954	$12,619,217	$44,485,689	$570,737
2022	$13,250,356	$12,995,080	$42,589,931	$255,276
2021	$12,865,419	$12,865,419	$40,599,568	No data
2020	$12,851,951	$12,851,951	$39,579,999	No data

SOUTHWEST IOWA REC