ADAMS ELECTRIC COOPERATIVE INC (EIN 230329885) - 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

1941

Legal Domicile

Principal Officer

THOMAS J KNAUB

Phone

7173349211

Tax Period

2024-01-01 to 2024-12-31

ADAMS ELECTRIC COOPERATIVE INC, founded in 1941, is a mid-sized nonprofit that reported $83.5M in total revenue in fiscal year 2024.

Mission

ADAMS ELECTRIC COOPERATIVE PROVIDES SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO OUR 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 $81,585,998

Investment Income $169,410

Other Revenue $1,742,047

TOTAL REVENUE $83,497,455

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,261,240

Fundraising Expenses $0

Other Expenses $62,720,816

TOTAL EXPENSES $86,001,002

Year-over-Year Comparison

	2024	2023	Change
Revenue	$83,497,455	$78,385,681	+0.1%
Expenses	$86,001,002	$79,616,838	+0.1%
Net Income	$-2,503,547	$-1,231,157	+1.0%

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

$1,135,305

Total Directors

$255,342

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN RASMUSSEN	CEO / GM	50.00	Officer	$590,818	$130,382	$734,700
MIKE FEATHERS	MANAGER OPER	45.00	Highest	$218,146	$120,897	$339,043
JEFFERY TURNER	MGR ENG/MECH	50.00	Highest	$217,826	$70,854	$288,680
JAMES CHIARUTTINI	MGR LEGAL SE	60.00	Highest	$223,347	$64,012	$287,359
CHAD THOMAN	MGR ENG/ELEC	50.00	Highest	$222,967	$47,482	$270,449
LISA WILLET	MGR HR	45.00	Highest	$199,783	$69,278	$269,061
MICHAEL JOHNSON	MANAGER SAFE	50.00	Officer	$194,506	$65,057	$259,563
GLENN E BANGE	PRESIDENT	15.00	Officer Director	$28,900	$2,000	$42,400
DALE E MYERS	SECRETARY	11.00	Officer Director	$27,725	$0	$36,392
THOMAS J KNAUB	TREASURER	11.00	Officer Director	$25,200	$0	$35,200
S EUGENE HERRITT	DIRECTOR	9.00	Director	$21,250	$0	$31,250
NADINE M HUBNER	VICE PRESIDE	11.00	Officer Director	$27,050	$0	$27,050
DAVID A FREY	DIRECTOR	9.00	Director	$15,950	$8,350	$24,300
JAY HERMAN	DIRECTOR	9.00	Director	$22,750	$0	$22,750
RAY SCHWARTZ	DIRECTOR	9.00	Director	$19,825	$0	$19,825
JAY E GROVE	DIRECTOR	9.00	Director	$9,025	$0	$9,025
WILLIAM FRENCH	DIRECTOR	9.00	Director	$7,150	$0	$7,150

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	$83,497,455	$86,001,002	$256,336,330	$-2,503,547
2023	$78,385,681	$79,616,838	$244,017,697	$-1,231,157
2022	$72,052,590	$75,140,826	$231,077,495	$-3,088,236
2021	$70,869,610	$74,893,746	$218,291,432	$-4,024,136
2020	$68,157,465	$70,955,366	$206,362,808	$-2,797,901
2019	$69,108,645	$69,303,949	$196,165,383	$-195,304
2018	$70,465,427	$69,918,583	$187,911,099	$546,844

ADAMS ELECTRIC COOPERATIVE INC