HARRISON COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION (EIN 350367872) - 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

DAVID C LETT

Phone

8127384115

Tax Period

2024-01-01 to 2024-12-31

HARRISON COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION, founded in 1938, is a mid-sized nonprofit that reported $69.6M in total revenue in fiscal year 2024.

Mission

DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 24,500 MEMBERS ON A COOPERATIVE BASIS.

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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 $66,842,988

Investment Income $821,056

Other Revenue $1,928,126

TOTAL REVENUE $69,592,170

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,049,360

Fundraising Expenses $0

Other Expenses $58,209,497

TOTAL EXPENSES $69,592,170

Year-over-Year Comparison

	2024	2023	Change
Revenue	$69,592,170	$65,522,696	+0.1%
Expenses	$69,592,170	$65,522,696	+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

$524,164

Total Directors

$149,585

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID POE	PRESIDENT	4.46	Director	$21,893	$0	$21,893
BRIAN KOETTER	VICE PRESIDENT	2.28	Director	$11,985	$0	$11,985
CRAIG ENGLEMAN	SECRETARY/TREASURER	3.65	Director	$19,862	$0	$19,862
PATRICK BOOK	DIRECTOR	2.93	Director	$17,429	$0	$17,429
DAVID L WALTHER	DIRECTOR	4.38	Director	$19,194	$0	$19,194
ROY ZIMMERMAN	DIRECTOR	3.49	Director	$10,818	$0	$10,818
DARIN DUNCAN	DIRECTOR	2.40	Director	$14,336	$0	$14,336
C TODD UHL	DIRECTOR	3.05	Director	$15,450	$0	$15,450
DANNY WISEMAN	DIRECTOR	4.31	Director	$18,618	$0	$18,618
DAVID C LETT	CHIEF EXECUTIVE OFFICER	50.00	Officer	$325,895	$198,269	$524,164
DEREK SAUNDERS	EMPLOYEE	55.00	Highest	$149,669	$5,262	$154,931
LOGAN MURPHY	EMPLOYEE	55.00	Highest	$138,259	$17,392	$155,651
STEVEN MOORE	BUSINESS MANAGER	49.00	Highest	$173,486	$58,611	$232,097
TRYSTEN WILLIAMS	EMPLOYEE	48.00	Highest	$134,212	$15,263	$149,475
RYAN STROHBECK	ENGINEERING OPERATIONS MAN	45.00	Highest	$158,060	$38,754	$196,814

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	$69,592,170	$69,592,170	$146,413,649	No data
2023	$65,522,696	$65,522,696	$140,234,781	No data
2022	$62,057,885	$62,057,885	$136,584,237	No data
2021	$57,440,710	$57,440,710	$130,552,109	No data
2020	$58,034,432	$58,034,432	$125,723,539	No data
2019	$61,020,386	$61,020,386	$118,902,464	No data

HARRISON COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION