NEW ENTERPRISE RURAL ELECTRIC COOP… - 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

1938

Legal Domicile

Principal Officer

MARK MORRISON

Phone

8147663221

Tax Period

2024-01-01 to 2024-12-31

NEW ENTERPRISE RURAL ELECTRIC COOPERATIVE INC, founded in 1938, is a mid-sized nonprofit that reported $10.2M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $8.8M left a modest 14% surplus.

Mission

PROVIDING AFFORDABLE ELECTRICITY TO MEMBERS

Program Service Accomplishments

Program 1

Expenses: $8,810,697 Revenue: $10,170,605

PROVIDING AFFORDABLE ELECTRICITY TO MORE THAN 3,600 MEMBERS AS ONE OF 750 DISTRIBUTION COOPERATIVES THROUGHOUT THE COUNTRY THAT HAVE CREATED AND ARE MEMBERS OF TOUCHSTONE ENERGY COOPERATIVE.

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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 $9,694,234

Investment Income $44,931

Other Revenue $458,072

TOTAL REVENUE $10,197,237

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,113,231

Fundraising Expenses $0

Program Expenses $8,810,697

Other Expenses $6,515,320

TOTAL EXPENSES $8,802,917

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,197,237	$9,236,961	+0.1%
Expenses	$8,802,917	$8,941,204	0.0%
Net Income	$1,394,320	$295,757	+3.7%

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

$242,237

Total Directors

$31,035

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LEROY WALLS	PRESIDENT	3.00	Officer Director	$3,615	$0	$3,615
CURTIS BRANT	TREASURER	3.00	Officer Director	$5,100	$0	$5,100
DAVID BEQUEATH	SECRETARY	3.00	Officer Director	$4,845	$0	$4,845
TIM NEWMAN	VICE PRESIDENT	3.00	Officer Director	$3,315	$0	$3,315
BRIAN MCCOY	DIRECTOR	3.00	Director	$3,060	$0	$3,060
MARK SWOPE	DIRECTOR	3.00	Director	$6,000	$0	$6,000
MERLE HELSEL	DIRECTOR & ASSISTANT SEC'Y	3.00	Officer Director	$5,100	$0	$5,100
MARK MORRISON	MANAGER/CEO	40.00	Officer	$150,658	$69,604	$220,262
CONNER KAGARISE	LINEMAN	47.00	Highest	$106,404	$42,819	$149,223
ROMAN DELL	LINEMAN	45.00	Highest	$110,596	$47,853	$158,449
ZACHARY CONLEY	LINEMAN	45.00	Highest	$110,482	$44,564	$155,046
MARK REPLOGLE	CREW CHIEF	41.00	Highest	$101,226	$49,976	$151,202
MICHAEL SHAWLEY	OUTSIDE OPERATIONS MANAGER	41.00	Highest	$107,384	$57,253	$164,637
RANDY WALKER	LINEMAN	46.00	Highest	$119,453	$49,152	$168,605

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	$10,197,237	$8,802,917	$10,374,954	$1,394,320
2023	$9,236,961	$8,941,204	$9,242,992	$295,757
2022	$9,051,973	$8,057,748	$8,701,226	$994,225
2021	$8,515,711	$7,986,392	$5,292,225	$529,319
2020	$7,540,194	$7,063,554	$4,429,038	$476,640
2019	$6,571,789	$6,569,815	$3,689,867	$1,974
2018	$6,482,744	$6,314,653	$3,448,085	$168,091

NEW ENTERPRISE RURAL ELECTRIC COOPERATIVE INC