CARROLL ELECTRIC COOPERATIVE INC

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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

1937

Legal Domicile

Principal Officer

LARRY FENBERS

Phone

3306272116

Tax Period

2024-01-01 to 2024-12-31

CARROLL ELECTRIC COOPERATIVE INC, founded in 1937, is a mid-sized nonprofit that reported $27.7M in total revenue in fiscal year 2024. Expenses of $26.4M left a modest 5% surplus.

Mission

CARROLL ELECTRIC COOPERATIVE INC PROVIDES ELECTRICITY TO ITS MEMBERS.

Program Service Accomplishments

Program 1

CARROLL ELECTRIC COOPERATIVE (CEC) HAS BEEN COMMITTED TO PROVIDING RELIABLE ELECTRIC SERVICE TO CARROLL, COLUMBIANA, HARRISON, JEFFERSON, TUSCARAWAS AND STARK COUNTIES. CEC PROVIDES ELECTRICAL...

CARROLL ELECTRIC COOPERATIVE (CEC) HAS BEEN COMMITTED TO PROVIDING RELIABLE ELECTRIC SERVICE TO CARROLL, COLUMBIANA, HARRISON, JEFFERSON, TUSCARAWAS AND STARK COUNTIES. CEC PROVIDES ELECTRICAL SERVICE TO NEARLY 9,005 CUSTOMERS.

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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 $27,722,716

Investment Income $18,369

Other Revenue $2,419

TOTAL REVENUE $27,743,504

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $786,397

Fundraising Expenses $0

Other Expenses $25,584,042

TOTAL EXPENSES $26,376,439

Year-over-Year Comparison

	2024	2023	Change
Revenue	$27,743,504	$26,209,128	+0.1%
Expenses	$26,376,439	$24,759,880	+0.1%
Net Income	$1,367,065	$1,449,248	-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

$562,724

Total Directors

$95,750

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY FENBERS	CEO/GENERAL	40.00	Officer	$348,778	$178,621	$527,399
WILLIAM MEESE	MANAGER OF E	40.00	Highest	$158,639	$78,905	$237,544
PADEN SPILKER	CREW LEADER	56.00	Highest	$160,920	$34,379	$195,299
AUSTIN JACKSON	LINEMAN	56.00	Highest	$155,996	$29,822	$185,818
ROBERT CAMPBELL	LINEMAN	46.00	Highest	$120,396	$43,123	$163,519
BRIAN RIGGS	CREW LEADER	46.00	Highest	$119,094	$19,472	$138,566
HAROLD SUTTON	CHAIRMAN	6.00	Officer Director	$13,125	$0	$13,125
KEVIN TULLIS	SECRETARY/TR	6.00	Officer Director	$12,075	$0	$12,075
DIANE BROWN	DIRECTOR	4.00	Director	$11,625	$0	$11,625
ROBERT MCCORT	DIRECTOR	5.00	Director	$10,625	$0	$10,625
VINCENT CARTER	DIRECTOR	4.00	Director	$10,550	$0	$10,550
TIM N DAYTON	DIRECTOR	4.00	Director	$10,275	$0	$10,275
GARY SNODE	VICE CHAIRMA	4.00	Officer Director	$10,125	$0	$10,125
WILLIAM T BROWN	DIRECTOR	4.00	Director	$8,925	$0	$8,925
WILLIAM CASPER	DIRECTOR	4.00	Director	$8,425	$0	$8,425

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	$27,743,504	$26,376,439	$70,256,703	$1,367,065
2023	$26,209,128	$24,759,880	$67,930,352	$1,449,248
2022	$25,547,711	$24,168,400	$65,336,212	$1,379,311
2021	$24,939,273	$23,259,394	$63,382,238	$1,679,879
2020	$23,638,163	$22,525,664	$61,790,418	$1,112,499
2019	$23,058,828	$21,949,992	$59,901,505	$1,108,836
2018	$23,974,696	$21,602,572	$57,556,178	$2,372,124