JAY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION (EIN 350420975) - 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

NEIL DRAPER

Phone

2607267121

Tax Period

2024-01-01 to 2024-12-31

JAY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION, founded in 1936, is a mid-sized nonprofit that reported $24.0M in total revenue in fiscal year 2024. Expenses of $21.8M left a modest 9% surplus.

Mission

THE MOST SIGNIFICANT ACTIVITY OF THE ELECTRIC COOPERATIVE IS THE DISTRIBUTION OF ELECTRICITY.

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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 $22,983,099

Investment Income $88,906

Other Revenue $921,265

TOTAL REVENUE $23,993,270

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,225,717

Fundraising Expenses $0

Other Expenses $19,537,471

TOTAL EXPENSES $21,763,188

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,993,270	$23,183,442	+0.0%
Expenses	$21,763,188	$21,547,744	+0.0%
Net Income	$2,230,082	$1,635,698	+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

$251,863

Total Directors

$121,256

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHILIP J LAUX	DIRECTOR	2.46	Director	$12,739	$0	$12,739
RONALD SMITHSON	DIRECTOR	2.75	Director	$3,126	$0	$3,126
KENNETH D DENTON	CHAIRMAN	3.44	Director	$9,033	$0	$9,033
KLINT R MOSER	DIRECTOR	2.19	Director	$21,711	$0	$21,711
BETHANY G EDWARDS	DIRECTOR	2.81	Director	$7,410	$0	$7,410
KENT K HOMAN	DIRECTOR	1.12	Director	$21,652	$0	$21,652
RICK A DUES	DIRECTOR	3.67	Director	$19,569	$0	$19,569
DRURY E HALL	DIRECTOR	2.25	Director	$22,011	$0	$22,011
ANGELA S LUTES	DIRECTOR	1.48	Director	$4,005	$0	$4,005
NEIL DRAPER	CEO	50.00	Officer	$201,928	$49,935	$251,863
DUANE MONROE	WORKING FORE	40.00	Highest	$133,977	$16,675	$150,652
DANIEL PAXSON	JOURNEYMAN L	40.00	Highest	$119,910	$16,067	$135,977
JEFFERY MYERS	ENGINEERING	40.00	Highest	$124,440	$32,665	$157,105
RICKY THOMPSON	JOURNEYMAN L	40.00	Highest	$113,214	$15,055	$128,269
MASON QUICKERY	JOURNEYMAN L	40.00	Highest	$130,559	$16,067	$146,626

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	$23,993,270	$21,763,188	$37,409,125	$2,230,082
2023	$23,183,442	$21,547,744	$34,770,754	$1,635,698
2022	$22,874,315	$21,318,198	$33,581,529	$1,556,117
2021	$21,221,936	$19,291,144	$32,510,611	$1,930,792
2020	$19,945,995	$18,248,749	$30,991,664	$1,697,246

JAY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION