LICKING RURAL ELECTRIFICATION INC (EIN 314234980) - 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

1936

Legal Domicile

Tax Period

2024-01-01 to 2024-12-31

LICKING RURAL ELECTRIFICATION INC, founded in 1936, is a mid-sized nonprofit that reported $73.8M in total revenue in fiscal year 2024. Expenses of $70.9M left a modest 4% surplus.

Mission

DISTRIBUTE ELECTRICITY TO ITS 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 $71,390,737

Investment Income $478,968

Other Revenue $1,941,767

TOTAL REVENUE $73,811,472

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,586,829

Fundraising Expenses $0

Other Expenses $69,340,128

TOTAL EXPENSES $70,926,957

Year-over-Year Comparison

	2024	2023	Change
Revenue	$73,811,472	$69,207,212	+0.1%
Expenses	$70,926,957	$66,222,576	+0.1%
Net Income	$2,884,515	$2,984,636	0.0%

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

$1,828,361

Total Directors

$198,825

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TODD WARE	PRESIDENT CEO	017.00	Officer	$0	$150,507	$580,096
DANIEL MCVEY	VP COO	N/A	Officer	$0	$134,121	$476,735
PAT MCGONAGLE	VP CFO	016.00	Officer	$0	$141,126	$463,897
CONNIE HOGUE	VP OF HUMAN RESOURCES/SAFETY	018.00	Highest	$0	$89,432	$329,945
JOSH FILLER	VP COO	050.00	Officer	$222,391	$85,242	$307,633
JOE HIGDON	CONTROLLER	017.00	Highest	$0	$100,334	$304,620
SCOTT STITTS	VP CIO	014.00	Highest	$0	$89,382	$303,280
PATRICK MULLIGAN	GAS ENGINEERING MANAGER	N/A	Highest	$0	$77,988	$249,395
DON WHEELER	GAS OPERATIONS MANAGER	N/A	Highest	$0	$74,203	$247,982
NELSON SMITH	DIRECTOR	003.00	Director	$34,850	$0	$34,850
JOHN KLAUDER	DIRECTOR	001.00	Director	$25,225	$0	$25,225
ROY VAN ATTA	DIRECTOR	000.17	Director	$24,500	$0	$24,500
BRAD PATTON	DIRECTOR	000.67	Director	$21,525	$0	$21,525
TOM GRAHAM	DIRECTOR	000.67	Director	$21,450	$0	$21,450
WAYNE ZOLLARS	DIRECTOR	000.67	Director	$19,950	$0	$19,950
JOANNE LITTLE	DIRECTOR	000.67	Director	$17,275	$0	$17,275
DONALD HAWK	DIRECTOR	000.67	Director	$17,025	$0	$17,025
DUSTIN BUCKINGHAM	DIRECTOR	001.50	Director	$17,025	$0	$17,025

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	$73,811,472	$70,926,957	$359,387,067	$2,884,515
2023	$69,207,212	$66,222,576	$354,209,166	$2,984,636
2022	$68,341,532	$63,774,468	$341,616,012	$4,567,064
2021	$64,454,016	$59,555,618	$316,474,567	$4,898,398
2020	$59,136,739	$53,209,029	$306,961,000	$5,927,710
2019	$56,389,062	$53,580,919	$336,068,744	$2,808,143
2018	$58,916,024	$52,537,855	$329,136,912	$6,378,169

LICKING RURAL ELECTRIFICATION INC