SUSSEX RURAL ELECTRIC COOPERATIVE (EIN 221317845) - 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

1937

Legal Domicile

Principal Officer

CHRIS REESE

Phone

9738755101

Tax Period

2024-01-01 to 2024-12-31

SUSSEX RURAL ELECTRIC COOPERATIVE, founded in 1937, is a mid-sized nonprofit that reported $28.1M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $26.4M left a modest 6% surplus.

Mission

TO PROVIDE ELECTRIC POWER TO 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $26,086,656

Investment Income $35,985

Other Revenue $1,961,444

TOTAL REVENUE $28,084,085

Expense Breakdown

Grants Paid $0

Salaries & Benefits $690,955

Fundraising Expenses $0

Program Expenses $26,431,762

Other Expenses $25,348,320

TOTAL EXPENSES $26,431,762

Year-over-Year Comparison

	2024	2023	Change
Revenue	$28,084,085	$25,482,647	+0.1%
Expenses	$26,431,762	$25,451,710	+0.0%
Net Income	$1,652,323	$30,937	+52.4%

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

$633,955

Total Directors

$89,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JACK HAGGERTY JR	CHAIRMAN	6.00	Officer Director	$8,900	$0	$8,900
WILLIAM KOVACH	VICE-CHAIRMAN	5.50	Officer Director	$1,400	$10,550	$11,950
RONALD J DUPONT JR	SECRETARY/TREASURER	9.00	Officer Director	$11,350	$0	$11,350
THOMAS E MADSEN	DIRECTOR	4.50	Director	$0	$7,850	$7,850
BARBARA BERGE MILLER	DIRECTOR	4.00	Director	$8,800	$0	$8,800
BRAD SPARTA	DIRECTOR	4.00	Director	$7,800	$0	$7,800
KAREN MCDOUGAL	DIRECTOR	3.00	Director	$6,550	$0	$6,550
JOSEPH BARCA	DIRECTOR	5.00	Director	$13,500	$0	$13,500
MICHAEL ABATE	DIRECTOR	3.25	Director	$12,500	$0	$12,500
CHRISTOPHER REESE	PRESIDENT/CEO	40.77	Officer	$278,748	$100,948	$379,696
ALISON STORMES	DIRECTOR OF FINANCE	40.00	Officer	$161,453	$60,606	$222,059
MICHAEL OSBORNE	DIRECTOR OF ENGINEERING AN	41.63	Highest	$198,611	$49,642	$248,253
JEFFREY ROWEN	CHIEF LINEMAN	54.18	Highest	$215,355	$59,601	$274,956
JAKE HASERT	FIRST CLASS LINEMAN	54.94	Highest	$211,045	$43,987	$255,032
ANTHONY SALOKAS	FIRST CLASS LINEMAN	53.25	Highest	$194,061	$41,537	$235,598
THOMAS MORGAN	FIRST CLASS LINEMAN	52.88	Highest	$193,956	$57,333	$251,289

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	$28,084,085	$26,431,762	$57,878,889	$1,652,323
2023	$25,482,647	$25,451,710	$55,974,889	$30,937
2022	$23,313,197	$21,775,352	$53,759,859	$1,537,845
2021	$23,931,586	$21,384,808	$50,512,661	$2,546,778
2020	$22,049,218	$21,061,044	$47,880,366	$988,174
2019	$20,887,203	$21,111,365	$44,772,259	$-224,162
2018	$21,596,968	$20,846,344	$45,075,280	$750,624

SUSSEX RURAL ELECTRIC COOPERATIVE