GUERNSEY-MUSKINGUM ELECTRIC COOP

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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

Kenneth Tolliver

Phone

7408267661

Tax Period

2025-01-01 to 2025-12-31

GUERNSEY-MUSKINGUM ELECTRIC COOP, founded in 1938, is a mid-sized nonprofit that reported $47.3M in total revenue in fiscal year 2025. Expenses of $44.0M left a modest 7% surplus.

Mission

To provide quality electric energy and other services at lowest cost, consistent with sound economy and good management

Program Service Accomplishments

Program 1

The Cooperative continues to provide quality electric energy and other services to our members and served a total of 17,092 accounts at the end of 2025. In 2025, 202 new services were installed...

The Cooperative continues to provide quality electric energy and other services to our members and served a total of 17,092 accounts at the end of 2025. In 2025, 202 new services were installed throughout our service territory. Also, in 2025 the Cooperative returned over $1,550,000 to our members through the retirement of patronage capital.

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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 $45,923,776

Investment Income $379,776

Other Revenue $996,461

TOTAL REVENUE $47,300,013

Expense Breakdown

Grants Paid $6,100

Salaries & Benefits $4,628,788

Fundraising Expenses $0

Program Expenses $0

Other Expenses $39,337,737

TOTAL EXPENSES $43,972,625

Year-over-Year Comparison

	2025	2024	Change
Revenue	$47,300,013	$44,358,064	+0.1%
Expenses	$43,972,625	$41,273,992	+0.1%
Net Income	$3,327,388	$3,084,072	+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

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

$333,982

Total Directors

Key Employees

$429,050

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Brian Hill	Former General Manager/CEO	40		$377,534	$25,654	$403,188
Kenneth Tolliver	General Manager/CEO	40	Officer	$226,138	$66,839	$292,977
Andy Bone	Controller	40	Key Emp	$157,478	$61,844	$219,322
James B West	Operations Manager	40	Key Emp	$148,551	$61,177	$209,728
Susan L Harper	Director	10.2		$14,950	$0	$14,950
Maureen Riley	Secretary-Treasury	9.5	Officer	$14,755	$0	$14,755
Jay Gray	Director	9.5		$14,370	$0	$14,370
Matt Carpenter	Chairman	8.3	Officer	$13,910	$0	$13,910
Mark Gotschall	Director	7.7		$12,630	$0	$12,630
Edward G Bay	Vice Chair	7.4	Officer	$12,340	$0	$12,340
A Duane Parks	Director	5.8		$10,750	$0	$10,750

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	$47,300,013	$43,972,625	$114,155,194	$3,327,388
2024	$44,358,064	$41,273,992	$111,509,409	$3,084,072
2023	$40,992,240	$37,397,539	$99,471,162	$3,594,701
2022	$40,642,443	$37,930,000	$96,496,641	$2,712,443
2021	$38,264,005	$35,749,759	$95,596,998	$2,514,246
2020	$36,924,566	$33,868,012	$95,420,824	$3,056,554