BOONE REMC (EIN 350188040) - 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

JEANETTE JOHNSON

Phone

7654822390

Tax Period

2024-01-01 to 2024-12-31

BOONE REMC, founded in 1936, is a mid-sized nonprofit that reported $76.5M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $12.8M, a strong 17% operating margin.

Mission

PROVIDING OUR MEMBERS ENERGY-RELATED SERVICES IN A SAFE, DEPENDABLE, AND REASONABLY PRICED MANNER.

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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 $73,491,928

Investment Income $580,303

Other Revenue $2,473,710

TOTAL REVENUE $76,545,941

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,032,934

Fundraising Expenses $0

Program Expenses $63,647,557

Other Expenses $59,726,796

TOTAL EXPENSES $63,759,730

Year-over-Year Comparison

	2024	2023	Change
Revenue	$76,545,941	$69,061,714	+0.1%
Expenses	$63,759,730	$58,966,356	+0.1%
Net Income	$12,786,211	$10,095,358	+0.3%

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

$819,896

Total Directors

$168,420

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NOEL KENDALL	CHAIRMAN	8.58	Officer Director	$23,160	$0	$23,160
THOMAS DULL	VICE-CHAIRMAN	3.84	Officer Director	$21,560	$0	$21,560
MARK GRUNINGER	SECRETARY/TREASURER	3.38	Officer Director	$17,160	$0	$17,160
ALAN CRAGUN	DIRECTOR	5.44	Director	$18,960	$0	$18,960
BRIAN GOTT	DIRECTOR	4.49	Director	$13,670	$0	$13,670
BRUCE GUERNSEY	DIRECTOR	4.13	Director	$17,160	$0	$17,160
DANNY LAWSON	DIRECTOR	1.67	Director	$15,110	$0	$15,110
MARK STARKEY	DIRECTOR	3.25	Director	$15,360	$0	$15,360
JON STEVENS	DIRECTOR	6.04	Director	$21,360	$0	$21,360
G TOM TAYLOR	DIRECTOR	1.59	Director	$4,920	$0	$4,920
WILLIAM CONLEY	CEO/PRESIDENT	40.00	Officer	$351,406	$161,013	$512,419
JEANETTE JOHNSON	VP OF CORPORATE SERVICES/CFO	40.00	Officer	$184,676	$60,921	$245,597
COREY WILLIS	VP OF CORPORATE DEVELOPMENT & TECHNOLOGY	40.00	Highest	$183,803	$69,421	$253,224
JEFFERY DICKERSON	VP OF OPERATIONS	40.00	Highest	$176,216	$114,627	$290,843
ALLEN JONES	VP OF ENGINEERING SERVICES	40.00	Highest	$174,693	$94,199	$268,892
BENJAMIN DUKE	ACCOUNTING MANAGER	40.00	Highest	$143,618	$45,167	$188,785
GERALD LASLEY	CONSTRUCTION & STAKING SERVICES COORDINATOR	40.00	Highest	$142,368	$10,635	$153,003
PAM WARMOTH	EXECUTIVE ASSISTANT & HR COORDINATOR	40.00	Highest	$139,420	$79,467	$218,887

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	$76,545,941	$63,759,730	$176,258,272	$12,786,211
2023	$69,061,714	$58,966,356	$164,434,988	$10,095,358
2022	$63,135,395	$58,558,112	$159,678,788	$4,577,283
2021	$60,230,638	$54,511,483	$132,784,446	$5,719,155

BOONE REMC