HANCOCK-WOOD ELECTRIC COOPERATIVE (EIN 344253615) - 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

1938

Legal Domicile

Principal Officer

MELISSA SNYDER

Phone

8004454840

Tax Period

2024-04-01 to 2025-03-31

HANCOCK-WOOD ELECTRIC COOPERATIVE, founded in 1938, is a mid-sized nonprofit that reported $54.1M in total revenue in fiscal year 2024. Expenses of $50.6M left a modest 7% surplus.

Mission

TO PROVIDE PREMIUM QUALITY SERVICE, ECONOMICALLY PRICED ELECTRICITY AND OTHER UTILITY SERVICES TO MEMBERS AND COMMUNITY.

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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 $52,779,734

Investment Income $235,761

Other Revenue $1,079,009

TOTAL REVENUE $54,094,504

Expense Breakdown

Grants Paid $16,416

Salaries & Benefits $2,303,238

Fundraising Expenses $0

Program Expenses $50,482,150

Other Expenses $48,251,502

TOTAL EXPENSES $50,571,156

Year-over-Year Comparison

	2024	2023	Change
Revenue	$54,094,504	$53,187,130	+0.0%
Expenses	$50,571,156	$47,368,144	+0.1%
Net Income	$3,523,348	$5,818,986	-0.4%

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

$860,069

Total Directors

$97,150

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gene Baker	Chairman (thru 06/12/24)	0.58	Director	$2,700	$0	$2,700
Charles Beagle	Trustee	3.85	Director	$8,450	$0	$8,450
Ed Crawford	Trustee	4.71	Director	$10,100	$0	$10,100
Lee Anne Dierksheide	Vice Chairman	3.51	Officer Director	$10,975	$0	$10,975
Duane Fry	Secretary/Treasurer	4.33	Officer Director	$14,050	$0	$14,050
William Kale	Chairman (06/25/24)	4.81	Officer Director	$10,725	$0	$10,725
Timothy Phillips	Trustee	3.85	Director	$11,600	$0	$11,600
Ronald Riegle	Trustee	1.72	Director	$9,400	$0	$9,400
Brian Terry	Trustee	4.18	Director	$11,500	$0	$11,500
Max Rader	Trustee	3.37	Director	$7,650	$0	$7,650
William Barnhart	President/CEO	42.85	Officer	$287,727	$89,917	$377,644
Melissa Snyder	CFO	39.53	Officer	$153,133	$78,495	$231,628
Curtis Croy	COO	41.03	Officer	$160,394	$54,653	$215,047
Bradley Fisher	Vice President Engineering	41.44	Highest	$166,251	$76,415	$242,666
James Casey	Lineman I	39.62	Highest	$132,006	$31,966	$163,972
Ryan Marquette	IT Manager	42.81	Highest	$131,425	$66,620	$198,045
Allen Riegle	Line Superintendent	44.33	Highest	$130,458	$64,137	$194,595
Ryan Stearns	Lineman I	41.47	Highest	$122,942	$49,598	$172,540

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
2025	$54,094,504	$50,571,156	$144,416,943	$3,523,348
2024	$53,187,130	$47,368,144	$142,653,265	$5,818,986
2023	$51,057,046	$46,384,540	$138,392,432	$4,672,506
2022	$50,854,119	$45,500,796	$133,031,141	$5,353,323
2021	$47,688,208	$42,298,137	$129,477,968	$5,390,071
2020	$46,264,381	$43,079,980	$127,375,571	$3,184,401
2019	$48,291,125	$45,084,812	$124,489,644	$3,206,313
2018	$46,256,081	$42,997,768	$119,284,357	$3,258,313

HANCOCK-WOOD ELECTRIC COOPERATIVE