FIRELANDS ELECTRIC COOPERATIVE INC (EIN 344232845) - 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

DANIEL SCHLOEMER

Tax Period

2023-01-01 to 2023-12-31

FIRELANDS ELECTRIC COOPERATIVE INC, founded in 1936, is a mid-sized nonprofit that reported $23.6M in total revenue in fiscal year 2023. Expenses of $21.5M left a modest 9% surplus.

Mission

RURAL DISTRIBUTION OF ELECTRIC ENERGY AND RELATED SERVICE

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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 $22,709,297

Investment Income $85,845

Other Revenue $771,383

TOTAL REVENUE $23,566,525

Expense Breakdown

Grants Paid $17,001

Salaries & Benefits $667,074

Fundraising Expenses $0

Program Expenses $21,505,392

Other Expenses $20,821,317

TOTAL EXPENSES $21,505,392

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,566,525	$22,829,839	+0.0%
Expenses	$21,505,392	$21,558,493	0.0%
Net Income	$2,061,133	$1,271,346	+0.6%

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

$403,699

Total Directors

$268,269

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL MCNAULL	GENL MGR, TR	50.00	Officer Director	$175,696	$27,271	$202,967
TABITHA SHEPHERD	DIR FIN&ACCT	45.00	Officer	$130,893	$44,279	$175,172
DANIEL SCHLOEMER	BD PRESIDENT	2.50	Officer Director	$8,450	$2,460	$10,910
BRUCE LEIMBACH	BD V-PRESIDE	2.50	Officer Director	$5,850	$1,882	$7,732
CARL AYERS	BD SEC/TREAS	2.20	Officer Director	$5,150	$1,768	$6,918
THOMAS LUCHA	TRUSTEE	3.70	Director	$4,725	$1,883	$6,608
GENE LAMOREAUX	TRUSTEE	2.70	Director	$5,600	$2,288	$7,888
JOHN MARTIN	TRUSTEE	1.40	Director	$4,550	$1,625	$6,175
ROBERT TURK	TRUSTEE	3.00	Director	$6,650	$2,736	$9,386
ELAINE OSWALD	TRUSTEE	2.90	Director	$7,081	$2,604	$9,685
RICHARD C BOWERS	LEAD LINEMAN	40.00	Highest	$125,143	$0	$125,143
ZACHARY COLLINS	LINE SUPERIN	40.00	Highest	$129,489	$0	$129,489
DONALD ENGLET	DIRECTOR OF	40.00	Highest	$136,668	$0	$136,668
PHILIP PICKERING	LEAD LINEMAN	40.00	Highest	$128,630	$0	$128,630
DAVID SUMPTER	LEAD LINEMAN	40.00	Highest	$116,329	$0	$116,329

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	$23,566,525	$21,505,392	$53,316,449	$2,061,133
2022	$22,829,839	$21,558,493	$51,498,648	$1,271,346
2021	$21,742,334	$20,260,015	$51,933,672	$1,482,319
2020	$20,505,197	$18,937,936	$50,535,214	$1,567,261
2019	$20,133,579	$18,978,452	$49,685,738	$1,155,127
2018	$21,022,423	$19,136,805	$48,202,406	$1,885,618

FIRELANDS ELECTRIC COOPERATIVE INC