PIONEER RURAL ELECTRIC COOPERATIVE… - 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

1936

Legal Domicile

Principal Officer

Thomas J Musick

Phone

9377732523

Tax Period

2025-01-01 to 2025-12-31

PIONEER RURAL ELECTRIC COOPERATIVE INC, founded in 1936, is a mid-sized nonprofit that reported $90.3M in total revenue in fiscal year 2025. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

Delivering safe and reliable electric service at the best possible value, with focus on our members and communities we serve

Program Service Accomplishments

Program 1

Expenses: $90,336,258 Revenue: $90,366,258

Utilities

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $87,484,903

Investment Income $209,514

Other Revenue $2,641,841

TOTAL REVENUE $90,336,258

Expense Breakdown

Grants Paid $10,500

Salaries & Benefits $7,249,280

Fundraising Expenses $0

Program Expenses $90,336,258

Other Expenses $77,043,550

TOTAL EXPENSES $90,336,258

Year-over-Year Comparison

	2025	2024	Change
Revenue	$90,336,258	$83,454,628	+0.1%
Expenses	$90,336,258	$83,454,628	+0.1%
Net Income	$0	$0	N/A

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

$873,586

Total Directors

$134,178

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Thomas Musick	President/CEO	48	Officer	$336,019	$164,375	$500,394
F Lynn Maniaci	Director of Tech Services and Engring	41	Highest	$191,814	$102,368	$294,182
Susan M Knore	Vice President/CFO	40.59	Officer	$209,867	$82,632	$292,499
Steven A McClay	Director of Operations & Safety	45.09	Highest	$172,969	$118,237	$291,206
Jeff Dietz	Manager of Engineering	40.63	Highest	$177,135	$72,001	$249,136
Todd D Garrett	Manager of Community & Gov't Relations	42.60	Highest	$163,794	$82,156	$245,950
Jason Shaffer	Manager of Information Services	44.30	Highest	$149,670	$46,515	$196,185
Mark A Bailey	Chair	5.87	Officer Director	$18,530	$0	$18,530
Colleen R Eidemiller	First Vice Chair	6.02	Officer Director	$16,955	$0	$16,955
John Vulgamore	Treasurer	5.35	Officer Director	$15,623	$0	$15,623
John Goettemoeller	Secretary	3.2	Officer Director	$15,330	$0	$15,330
Roger Bertke	Second Vice Chair	3.69	Officer Director	$14,255	$0	$14,255
Bill Clark	Board Member	3.18	Director	$13,985	$0	$13,985
Ted Black	Board Member	4.87	Director	$13,850	$0	$13,850
Wade Wilhelm	Board Member	4.02	Director	$13,445	$0	$13,445
Robert Billings	Board Member	3	Director	$12,205	$0	$12,205

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
2025	$90,336,258	$90,336,258	$155,171,147	No data
2024	$83,454,628	$83,454,628	$152,076,498	No data
2023	$76,695,547	$76,695,547	$147,340,975	No data
2022	$75,418,373	$75,418,373	$142,552,198	No data
2021	$72,827,818	$72,827,818	$137,811,122	No data
2020	$69,509,972	$69,509,972	$136,039,518	No data
2019	$70,502,871	$70,502,871	$131,462,796	No data
2018	$75,935,142	$75,935,142	$128,822,999	No data

PIONEER RURAL ELECTRIC COOPERATIVE INC