ILLINOIS ELECTRIC COOPERATIVE (EIN 370345145) - 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

JIM FREEMAN

Phone

2172438700

Tax Period

2023-01-01 to 2023-12-31

ILLINOIS ELECTRIC COOPERATIVE, founded in 1936, is a mid-sized nonprofit that reported $44.3M in total revenue in fiscal year 2023. Expenses of $42.3M left a modest 4% surplus.

Mission

DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR MEMBERS THROUGH DEPENDABILITY AND INNOVATION.

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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 $42,738,948

Investment Income $384,751

Other Revenue $1,204,196

TOTAL REVENUE $44,327,895

Expense Breakdown

Grants Paid $0

Salaries & Benefits $613,086

Fundraising Expenses $0

Other Expenses $39,362,263

TOTAL EXPENSES $42,334,186

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,327,895	$41,175,805	+0.1%
Expenses	$42,334,186	$39,597,531	+0.1%
Net Income	$1,993,709	$1,578,274	+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

$57,550

Total Directors

$103,850

Key Employees

$509,236

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS D MEEHAN III	PRESIDENT	12.30	Officer Director	$18,700	$0	$18,700
JULIA EBERLIN	VICE-PRESIDENT	4.60	Officer Director	$9,250	$0	$9,250
JIM FREEMAN	TREASURER	2.60	Officer Director	$8,000	$0	$8,000
KEVIN BRANNAN	SECRETARY	6.90	Officer Director	$10,500	$0	$10,500
LUKE FRALEY	ASSISTANT TREASURER	1.20	Officer Director	$5,200	$0	$5,200
JULIE RHOADS	ASSISTANT SECRETARY	4.60	Officer Director	$5,900	$0	$5,900
JENNA MORROW	DIRECTOR	5.70	Director	$9,650	$0	$9,650
KRISTINE BINGHAM	DIRECTOR	14.80	Director	$9,650	$0	$9,650
BRYAN HUBBERT	DIRECTOR	2.60	Director	$8,650	$0	$8,650
PAT STENDBACK	DIRECTOR	4.10	Director	$9,450	$0	$9,450
KEVIN KLEIN	DIRECTOR	10.20	Director	$8,900	$0	$8,900
SETH BUSHNELL	MANAGER OF FINANCE	40.00	Key Emp	$178,579	$50,125	$228,704
RANDY LONG	GENERAL MANAGER	40.00	Key Emp	$255,467	$25,065	$280,532
MATTHEW HAVERFIELD	NETWORK ANALYST	40.00	Highest	$146,336	$31,416	$177,752
CRAIG LONG	METERING SUPERVISOR	40.00	Highest	$124,973	$11,927	$136,900
KURTIS WEBER	DESIGN ENGINEER	40.00	Highest	$131,884	$24,502	$156,386
ISAAC RICHARD	JOURNEYMAN LINEMAN	43.00	Highest	$131,883	$13,910	$145,793
CAMERON KEMPER	INTERNET TECHNICIAN	55.00	Highest	$139,165	$12,545	$151,710

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	$44,327,895	$42,334,186	$152,796,039	$1,993,709
2022	$41,175,805	$39,597,531	$145,000,257	$1,578,274
2021	$38,809,998	$36,698,988	$136,258,250	$2,111,010
2020	$35,715,402	$34,901,370	$128,783,261	$814,032
2019	$35,783,989	$34,450,661	$123,203,023	$1,333,328
2018	$34,907,614	$34,512,493	$117,706,697	$395,121

ILLINOIS ELECTRIC COOPERATIVE