HOLMES-WAYNE 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

1935

Legal Domicile

Principal Officer

GLENN W MILLER

Phone

3306741055

Tax Period

2023-01-01 to 2023-12-31

HOLMES-WAYNE ELECTRIC COOPERATIVE INC, founded in 1935, is a mid-sized nonprofit that reported $22.9M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Net assets of $48.5M represent 25 months of operating reserves.

Mission

THE MISSION OF HOLMES-WAYNE ELECTRIC COOPERTATIVE, INC. IS TO SAFELY PROVIDE RELIABLE, COMPETITIVELY-PRICED ELECTRIC SERVICE FOR OUR MEMBER-OWNERS TO ENHANCE THE QUALITY OF LIFE IN THE COMMUNITIES WE SERVE WHILE EMBRACING COOPERATIVE PRINCIPLES AND VALUES.

Program Service Accomplishments

Program 1

OUR LARGEST PROGRAM SERVICE ACCOMPLISHMENT WAS THE DISTRIBUTION OF ELECTRICITY TO THE RURAL AREAS OF EIGHT COUNTIES IN NORTHEAST OHIO. WE HAVE SERVED OVER 17,900 ACCOUNTS WITH MORE THAN 2,300 MILES...

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $76,996

Other Revenue $22,831,431

TOTAL REVENUE $22,908,427

Expense Breakdown

Grants Paid $20,200

Salaries & Benefits $6,718,170

Fundraising Expenses $0

Other Expenses $12,508,496

TOTAL EXPENSES $22,908,427

Year-over-Year Comparison

	2023	2022	Change
Revenue	$22,908,427	$20,247,705	+0.1%
Expenses	$22,908,427	$20,247,705	+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

$942,003

Total Directors

$110,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID TEGTMEIER	TRUSTEE	4.10	Director	$12,500	$0	$12,500
JONATHAN BERGER	TRUSTEE	2.00	Director	$7,000	$0	$7,000
JACKIE MCKEE	TRUSTEE/VICE CHAIRMAN	2.10	Officer Director	$8,300	$0	$8,300
RONNIE R SCHLEGEL	TRUSTEE	6.00	Director	$16,100	$0	$16,100
BARRY JOLLIFF	TRUSTEE / SECRETARY / TREA	4.80	Officer Director	$14,500	$0	$14,500
RANDY SPRANG	TRUSTEE/ CHAIRMAN	3.80	Officer Director	$13,600	$0	$13,600
CHRISTOPHER R YOUNG	TRUSTEE	3.40	Director	$12,100	$0	$12,100
GARY GRAHAM	TRUSTEE	4.70	Director	$14,000	$0	$14,000
LISA GRASSBAUGH	TRUSTEE	3.40	Director	$12,100	$0	$12,100
CASEY L WAGNER	CFO	40.10	Officer	$128,549	$66,592	$195,141
JOHN C PORTER	ASST MANAGER & ENGINEER	40.20	Officer	$188,023	$90,485	$278,508
GLENN W MILLER	PRESIDENT & CEO	40.70	Officer	$311,719	$120,235	$431,954
MICHAEL L MARTIN	CLASS A LINEMAN	47.30	Highest	$121,082	$53,774	$174,856
MICHEAL MAURER	CLASS A LINEMAN	47.00	Highest	$121,074	$53,774	$174,848
MATTHEW MORRIS	CLASS A LINEMAN	46.60	Highest	$116,344	$51,127	$167,471
STACEY SHAW	OPERATIONS SUPER.	41.40	Highest	$119,840	$68,803	$188,643
ROBYN TATE	HR/PR	40.80	Highest	$122,593	$54,472	$177,065

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	No data	No data	No data	No data
2023	$22,908,427	$22,908,427	$113,073,421	No data
2022	$20,247,705	$20,247,705	$111,892,981	No data
2021	$19,641,088	$19,641,088	$106,409,889	No data
2020	$18,828,809	$18,828,809	$103,172,928	No data
2019	$17,413,190	$17,413,190	$96,348,614	No data
2018	$18,640,496	$18,640,496	$94,129,048	No data

HOLMES-WAYNE ELECTRIC COOPERATIVE INC