OLD DOMINION ELECTRIC COOPERATIVE (EIN 237048405) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1948

Legal Domicile

Principal Officer

JOHN C LEE JR

Phone

8047470592

Tax Period

2023-01-01 to 2023-12-31

OLD DOMINION ELECTRIC COOPERATIVE, founded in 1948, is a major nonprofit that reported $821.0M in total revenue in fiscal year 2020. Revenue decreased 13% compared to the prior year.

Mission

PROVIDE WHOLESALE POWER TO MEMBER COOPERATIVES

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,082,203,815

Investment Income $9,290,942

Other Revenue $64,395

TOTAL REVENUE $1,091,559,152

Expense Breakdown

Grants Paid $269,083

Salaries & Benefits $20,220,976

Fundraising Expenses $0

Other Expenses $1,053,096,031

TOTAL EXPENSES $1,086,139,052

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,091,559,152	$1,012,166,528	+0.1%
Expenses	$1,086,139,052	$1,007,139,251	+0.1%
Net Income	$5,420,100	$5,027,277	+0.1%

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

149

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

$4,686,777

Total Directors

$808,900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN C LEE JR	INTERIM PRESIDENT & CEO - STARTED 9/	40.00	Officer Director	$244,500	$0	$244,500
HUNTER R GREENLAW JR	BOARD MEMBER	6.00	Director	$52,150	$0	$52,150
MICHAEL K BROWN	BOARD MEMBER	6.00	Director	$51,900	$0	$51,900
JOHN J BURKE JR	BOARD MEMBER	6.00	Director	$51,900	$0	$51,900
DAVID J JONES	BOARD MEMBER	6.00	Director	$51,900	$0	$51,900
PAUL H BROWN	BOARD MEMBER	9.00	Director	$51,650	$0	$51,650
KEITH L SWISHER	BOARD MEMBER	6.00	Director	$51,650	$0	$51,650
JESSIE R THOMAS	BOARD MEMBER	6.00	Director	$51,400	$0	$51,400
SUZANNE S OBENSHAIN	BOARD MEMBER	6.00	Director	$50,650	$0	$50,650
EARL CURRIN	BOARD MEMBER	7.00	Director	$50,400	$0	$50,400
E GARRISON DRUMMOND	BOARD MEMBER	6.00	Director	$50,400	$0	$50,400
CHAD N FOWLER	BOARD MEMBER	6.00	Director	$50,400	$0	$50,400
ROBERT A BOOK II	BOARD MEMBER	6.00	Director	$0	$0	$0
WILLIAM K BUCHANAN	BOARD MEMBER	6.00	Director	$0	$0	$0
JOHN D HEWA JR	BOARD MEMBER	6.00	Director	$0	$0	$0
BRADLEY H HICKS	BOARD MEMBER	6.00	Director	$0	$0	$0
JASON C LOEHR	BOARD MEMBER	6.00	Director	$0	$0	$0
CARY J LOGAN JR	BOARD MEMBER ENDED 04/30/23	6.00	Director	$0	$0	$0
BELVIN WILLIAMSON JR	BOARD MEMBER	6.00	Director	$0	$0	$0
SARAT K YELLEPEDDI	BOARD MEMBER STARTED 05/09/2023	6.00	Director	$0	$0	$0
STEVE A HARMON	CHAIRMAN	6.00	Officer Director	$0	$0	$0
MICHEAL E MALANDRO	VICE CHAIRMAN	6.00	Officer Director	$0	$0	$0
GREGORY S ROGERS	SECRETARY/TREASURER	6.00	Officer Director	$0	$0	$0
MARCUS M HARRIS	PRESIDENT & CEO - ENDED 9/8/23	40.00	Officer	$1,198,549	$459,809	$1,658,358
BRYAN S ROGERS	SR. VP & CFO	40.00	Officer	$390,385	$422,970	$813,355
KIRK D JOHNSON	SR VP MEMBER ENGAGEMENT	40.00	Officer	$363,399	$214,966	$578,365
MICHEAL L HERN	GENERAL COUNSEL	40.00	Officer	$356,824	$202,748	$559,572
CHRISTOPHER F COSBY	SR. VP POWER SUPPLY	40.00	Officer	$339,518	$206,478	$545,996
JOHN M ROBB	SVP CHIEF LEGAL OFFICER	40.00	Officer	$260,009	$26,622	$286,631
LYNN A MALONEY	VP INVESTOR RELATIONS	40.00	Highest	$240,085	$217,450	$457,535
KEVIN C MILLER	VP ENGINEERING	40.00	Highest	$230,384	$182,057	$412,441
ALLYSON PITTMAN	VP & CONTROLLER	40.00	Highest	$236,711	$175,676	$412,387
RUCHIRA R LALWANEY	VP IT	40.00	Highest	$230,053	$174,853	$404,906
WILIAM J PEZALLA	VP REGULATORY AFFAIRS	40.00	Highest	$234,315	$170,051	$404,366

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	$1,091,559,152	$1,086,139,052	$2,225,303,668	$5,420,100
2022	$1,012,166,528	$1,007,139,251	$2,198,477,737	$5,027,277
2021	$801,442,287	$796,453,743	$2,169,039,010	$4,988,544
2020	$820,958,390	$815,907,591	$2,061,730,407	$5,050,799

OLD DOMINION ELECTRIC COOPERATIVE