MIDWEST ELECTRIC 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

1936

Legal Domicile

Principal Officer

MATTHEW BERRY CEO

Phone

4193944110

Tax Period

2024-01-01 to 2024-12-31

MIDWEST ELECTRIC INC, founded in 1936, is a mid-sized nonprofit that reported $41.3M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $37.8M left a modest 9% surplus.

Mission

TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND COMMUNITIES BY SAFELY PROVIDING RELIABLE ELECTRICITY, SUPERIOR CUSTOMER SERVICE, AND INNOVATIVE ENERGY SOLUTIONS AT COMPETITIVE PRICES.

Program Service Accomplishments

Program 1

Expenses: $37,771,297 Revenue: $39,982,208

COOPERATIVE PROVIDING ELECTRICITY TO RURAL CUSTOMERS ON A NON-PROFIT BASIS TO OVER 11,200 METERS AND ENSURING EFFECTIVE DELIVERY OF THE SAME. ALL OF THE METERS ARE LOCATED IN RURAL WEST-CENTRAL OHIO.

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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 $39,982,208

Investment Income $142,829

Other Revenue $1,180,273

TOTAL REVENUE $41,305,310

Expense Breakdown

Grants Paid $92,558

Salaries & Benefits $5,178,098

Fundraising Expenses $0

Program Expenses $37,771,297

Other Expenses $31,198,896

TOTAL EXPENSES $37,771,297

Year-over-Year Comparison

	2024	2023	Change
Revenue	$41,305,310	$36,508,490	+0.1%
Expenses	$37,771,297	$34,228,123	+0.1%
Net Income	$3,534,013	$2,280,367	+0.5%

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

$641,344

Total Directors

$92,897

Key Employees

$240,088

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW BERRY CEO	ASSISTANT SE	40.00	Officer	$231,152	$116,570	$347,722
KEVIN SCHMIDT	MGR FIN & CU	45.00	Officer	$159,733	$93,354	$253,087
PAUL ROGERS	MGR ENGINEER	45.00	Key Emp	$177,145	$62,943	$240,088
GREG GRIEVES	LINEMAN FIRS	47.90	Highest	$131,949	$41,798	$173,747
WILLIAM RUSSELL	LINEMAN FIRS	46.60	Highest	$129,546	$42,418	$171,964
JULIE MARCHAL	MGR ADMIN SV	43.00	Highest	$131,678	$36,653	$168,331
ERIC SCHAAF	LINEMAN FIRS	46.70	Highest	$138,839	$9,310	$148,149
TRAVIS RUSSELL	LINEMAN FIRS	46.30	Highest	$135,553	$9,686	$145,239
JAMES WIECHART	PRESIDENT	6.40	Officer Director	$16,065	$0	$16,065
GARY KNAPKE	TRUSTEE	4.90	Director	$12,590	$0	$12,590
RANDY HEINL	VICE PRESIDE	4.60	Officer Director	$12,300	$0	$12,300
KATHY BRAKE	SECRETARY-TR	4.90	Officer Director	$12,170	$0	$12,170
STEVEN BAUER	TRUSTEE	5.00	Director	$10,972	$0	$10,972
LARRY VANDEMARK	TRUSTEE	3.80	Director	$10,320	$0	$10,320
ROGER RANK	TRUSTEE	3.50	Director	$9,980	$0	$9,980
ANN SELHORST	TRUSTEE	3.20	Director	$6,000	$0	$6,000
ROBERT BARNT	TRUSTEE	2.00	Director	$2,500	$0	$2,500

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	$41,305,310	$37,771,297	$75,319,268	$3,534,013
2023	$36,508,490	$34,228,123	$72,994,415	$2,280,367
2022	$35,560,996	$33,920,407	$69,714,672	$1,640,589
2021	$34,375,310	$31,328,240	$70,308,279	$3,047,070
2020	$32,449,716	$30,660,827	$70,588,763	$1,788,889