WASHINGTON ELECTRIC COOPERATIVE IN (EIN 314335585) - 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

Principal Officer

PAUL FLEEMAN

Phone

7403732141

Tax Period

2024-01-01 to 2024-12-31

WASHINGTON ELECTRIC COOPERATIVE IN, founded in 1936, is a mid-sized nonprofit that reported $24.2M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $22.8M left a modest 6% surplus.

Mission

PROVIDING ELECTRIC POWER TO COOPERATIVE 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 $23,281,665

Investment Income $103,410

Other Revenue $804,763

TOTAL REVENUE $24,189,838

Expense Breakdown

Grants Paid $15,713

Salaries & Benefits $2,777,398

Fundraising Expenses $0

Program Expenses $22,841,775

Other Expenses $20,048,664

TOTAL EXPENSES $22,841,775

Year-over-Year Comparison

	2024	2023	Change
Revenue	$24,189,838	$22,244,051	+0.1%
Expenses	$22,841,775	$21,043,665	+0.1%
Net Income	$1,348,063	$1,200,386	+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

$327,950

Total Directors

$49,237

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFFREY TRIPLETT	GENERAL MGR/	40.00	Officer	$209,800	$86,526	$296,326
JAMIE HUMMERICH	CONSTRUCTION	48.00	Highest	$138,863	$49,899	$188,762
KENNETH ANGLE	OPERATIONS F	46.00	Highest	$126,542	$55,895	$182,437
DAKOTA HORNAK	LINEMAN 1ST	48.00	Highest	$133,750	$47,988	$181,738
ALEX HAUGHT	LINEMAN 1ST	48.00	Highest	$128,864	$50,096	$178,960
TYLER BULLOCK	LINEMAN 1ST	46.00	Highest	$123,875	$48,712	$172,587
BRENT SMITH	1ST VICE CHA	4.50	Officer Director	$9,700	$6	$9,706
BETTY MARTIN	SECRETARY/TR	5.80	Officer Director	$9,400	$6	$9,406
BRIAN CARTER	TRUSTEE	4.60	Director	$6,600	$6	$6,606
PAUL FLEEMAN	CHAIRMAN	4.40	Officer Director	$6,400	$6	$6,406
GALE DEPUY	ASST. SEC./T	4.00	Officer Director	$6,100	$6	$6,106
LARRY ULLMAN	TRUSTEE	5.00	Director	$5,800	$4	$5,804
WILLIAM BOWERSOCK	TRUSTEE (RET	3.50	Director	$5,200	$3	$5,203

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	$24,189,838	$22,841,775	$73,843,481	$1,348,063
2023	$22,244,051	$21,043,665	$70,994,972	$1,200,386
2022	$22,812,534	$21,604,921	$69,296,140	$1,207,613
2021	$21,644,972	$20,601,731	$67,766,254	$1,043,241
2020	$19,505,742	$18,401,617	$63,320,059	$1,104,125
2019	$18,845,395	$17,665,155	$62,126,495	$1,180,240
2018	$20,319,239	$17,690,877	$55,341,752	$2,628,362

WASHINGTON ELECTRIC COOPERATIVE IN