NORRIS ELECTRIC COOPERATIVE (EIN 370442695) - 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

TAMARA PHILLIPS

Phone

6187838765

Tax Period

2023-01-01 to 2023-12-31

NORRIS ELECTRIC COOPERATIVE, founded in 1938, is a mid-sized nonprofit that reported $51.6M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS OF THE COOPERATIVE

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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 $51,065,795

Investment Income $237,822

Other Revenue $301,010

TOTAL REVENUE $51,604,627

Expense Breakdown

Grants Paid $0

Salaries & Benefits $489,269

Fundraising Expenses $0

Program Expenses $50,077,264

Other Expenses $49,587,995

TOTAL EXPENSES $50,077,264

Year-over-Year Comparison

	2023	2022	Change
Revenue	$51,604,627	$47,152,276	+0.1%
Expenses	$50,077,264	$47,922,352	+0.0%
Net Income	$1,527,363	$-770,076	-3.0%

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

$17,875

Total Directors

$57,250

Key Employees

$259,130

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AVA LEMMON	DIRECTOR	2.02	Director	$5,950	$0	$5,950
BRANDON GRAVES	DIRECTOR	1.64	Director	$4,850	$0	$4,850
DAN STRINE	DIRECTOR	2.02	Director	$5,775	$0	$5,775
DAVE SHEPPARD	DIRECTOR	3.45	Director	$10,175	$0	$10,175
GILBERT GARBE	DIRECTOR	1.21	Director	$4,025	$0	$4,025
GORDON MCCLURE	PRESIDENT	2.35	Officer Director	$6,600	$0	$6,600
JUSTIN PARCEL	VICE-PRESIDENT	1.28	Officer Director	$4,950	$0	$4,950
KURT HOLSCHER	DIRECTOR	1.15	Director	$4,400	$0	$4,400
RON VIEHMAN	DIRECTOR	1.99	Director	$6,775	$0	$6,775
SCOTT WEISS	DIRECTOR	0.98	Director	$2,925	$0	$2,925
DEAN DIETRICH	DIRECTOR	0.17	Director	$825	$0	$825
TED HELMINK	SECRETARY/DIRECTOR	2.18	Officer	$6,325	$0	$6,325
TAMI PHILLIPS	MANAGER	50.00	Key Emp	$211,357	$47,773	$259,130
IAN MOORE	MAINT LINEMAN JOURNEYMAN	52.25	Highest	$154,833	$47,992	$202,825
STEVEN HUNZINGER	MAINT LINEMAN JOURNEYMAN	50.07	Highest	$146,289	$39,901	$186,190
RALPH BOWERSOCK JR	MAINT LINEMAN JOURNEYMAN	46.73	Highest	$143,229	$49,808	$193,037
DOUGLAS CASEY	MAINT LINEMAN JOURNEYMAN	46.67	Highest	$142,620	$38,041	$180,661
CASEY FULK	MAINT LINEMAN JOURNEYMAN	46.55	Highest	$141,935	$49,638	$191,573

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	$51,604,627	$50,077,264	$142,761,430	$1,527,363
2022	$47,152,276	$47,922,352	$134,097,088	$-770,076
2021	$43,756,656	$41,658,063	$122,679,839	$2,098,593
2020	$39,962,096	$38,767,404	$112,130,663	$1,194,692
2019	$41,106,281	$38,696,559	$100,142,863	$2,409,722
2018	$49,330,858	$45,139,876	$95,011,451	$4,190,982

NORRIS ELECTRIC COOPERATIVE