Egyptian Electric Cooperative Asso… - Form 990 Financial Data

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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

Michael S Hermetz

Phone

8006061505

Tax Period

2023-01-01 to 2023-12-31

Egyptian Electric Cooperative Association, founded in 1938, is a mid-sized nonprofit that reported $46.7M in total revenue in fiscal year 2023.

Mission

To provide electric services to approximately 15,000 members/owners in a ten county area of Southern Illinois since its founding in 1938.

Program Service Accomplishments

Program 1

Expenses: $43,030,180 Revenue: $46,695,240

Egyptian Electric Cooperative Association is an electric distribution cooperative whose primary mission is to provide reliable and cost effective electric service to approximately 15,000...

Egyptian Electric Cooperative Association is an electric distribution cooperative whose primary mission is to provide reliable and cost effective electric service to approximately 15,000 member/owners in Southern Illinois. The revenue generated from the sale of electricity to its members is used primarily to purchase wholesale power from Southern Illinois Power Cooperative, a generation and transmission cooperative, and to provide the necessary distribution and general plant facilities to distribute that electricity to its members and maintain those facilities and service support systems.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $45,263,891

Investment Income $51,216

Other Revenue $1,380,133

TOTAL REVENUE $46,695,240

Expense Breakdown

Grants Paid $15,000

Salaries & Benefits $5,565,217

Fundraising Expenses $0

Program Expenses $43,030,180

Other Expenses $37,449,963

TOTAL EXPENSES $45,310,686

Year-over-Year Comparison

	2023	2022	Change
Revenue	$46,695,240	$44,358,904	+0.1%
Expenses	$45,310,686	$46,053,901	0.0%
Net Income	$1,384,554	$-1,694,997	-1.8%

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

Total Directors

$83,941

Key Employees

$681,564

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael S Hermetz	Executive Vice President/General Manager	65	Key Emp	$288,653	$200,550	$489,203
Brad Austin	Engineering Manager	50	Highest	$144,464	$127,248	$271,712
Jeremy Thies	Operations Supervisor	50	Highest	$141,799	$97,673	$239,472
Cheryl Bauersachs	Finance Manager	50	Key Emp	$111,511	$80,850	$192,361
Brooke Guthman	Member Services Manager	50	Highest	$137,092	$50,536	$187,628
Matt McElroy	Maintenance Lineman	45.71	Highest	$134,960	$44,492	$179,452
Cody Lee	Lineman-Foreman	44.68	Highest	$136,584	$41,704	$178,288
Kevin Liefer	Director	2.71	Director	$6,000	$14,625	$20,625
Paul Hicks	Director	2.79	Director	$8,100	$4,116	$12,216
Steve Prest	Director	7.68	Director	$11,700	$0	$11,700
Kenneth Jarrett	Director	7.12	Director	$10,200	$0	$10,200
Paul Pyatt	Director	3.98	Director	$8,400	$0	$8,400
Randall Campbell	Director	3.67	Director	$7,800	$0	$7,800
Kevin Bame	Director	2.87	Director	$5,400	$0	$5,400
Richard Asaturian	Director	2.64	Director	$4,400	$0	$4,400
Mary Jo Homan	Director	2.40	Director	$3,200	$0	$3,200

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	No data	No data	No data	No data
2023	$46,695,240	$45,310,686	$109,048,722	$1,384,554
2022	$44,358,904	$46,053,901	$107,457,170	$-1,694,997
2021	$42,170,209	$40,489,928	$103,786,705	$1,680,281
2020	$41,715,898	$42,180,751	$102,647,748	$-464,853
2019	$44,180,738	$44,619,588	$98,229,806	$-438,850
2018	$45,844,231	$42,645,304	$97,801,759	$3,198,927

Egyptian Electric Cooperative Association