Rural Electric Convenience Coopera… - 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

1936

Legal Domicile

Principal Officer

Sean R Middleton

Phone

2174386197

Tax Period

2024-01-01 to 2024-12-31

Rural Electric Convenience Cooperative, founded in 1936, is a mid-sized nonprofit that reported $17.2M in total revenue in fiscal year 2024.

Mission

As an energy and services cooperative, our Members needs are Rural Electric Convenience Cooperatives first priority.

Program Service Accomplishments

Program 1

Rural Electric Convenience Cooperative (RECC) serves 5,994 consumers in Sangamon, Morgan, Macoupin, Christian, and Montgomery counties. RECC also serves consumers in several growing subdivisions...

Rural Electric Convenience Cooperative (RECC) serves 5,994 consumers in Sangamon, Morgan, Macoupin, Christian, and Montgomery counties. RECC also serves consumers in several growing subdivisions around Springfield, Taylorville, Litchfield, and other towns.

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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 $17,168,032

Investment Income $27,267

Other Revenue $-12,642

TOTAL REVENUE $17,182,657

Expense Breakdown

Grants Paid $0

Salaries & Benefits $705,814

Fundraising Expenses $0

Other Expenses $15,721,634

TOTAL EXPENSES $17,182,657

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,182,657	$16,211,341	+0.1%
Expenses	$17,182,657	$15,998,185	+0.1%
Net Income	$0	$213,156	-1.0%

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

$595,339

Total Directors

$110,475

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Sean R Middleton	PresidentCEO	50.00	Officer	$206,605	$44,936	$251,541
Timothy Hemberger	Mgr Operations	45.00	Officer	$111,483	$99,925	$211,408
Aubrie Megginson	Mgr FinanceAdmn	45.00	Officer	$98,142	$34,248	$132,390
Gary Niemyer	Director	4.00	Director	$17,250	$0	$17,250
Cassie Eigenmann	Director	4.00	Director	$16,875	$0	$16,875
Chris Wilcox	Director	5.00	Director	$15,000	$0	$15,000
Thomas Hart	Director	4.00	Director	$14,625	$0	$14,625
Jimmy Ayers	Director	4.00	Director	$13,125	$0	$13,125
Melvin Repescher	Director	4.00	Director	$12,375	$0	$12,375
Andy Goleman	Director	4.00	Director	$7,500	$0	$7,500
Neil Bryan	Director	4.00	Director	$7,350	$0	$7,350
Clayton Bloome	Director	4.00	Director	$6,375	$0	$6,375

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	$17,182,657	$17,182,657	$44,896,106	No data
2023	$16,211,341	$15,998,185	$44,110,557	$213,156
2022	$15,058,130	$15,058,130	$43,536,285	No data
2021	$14,477,787	$14,477,787	$42,595,868	No data
2020	$14,353,428	$14,353,428	$42,712,247	No data
2019	$14,339,410	$14,339,410	$41,956,194	No data
2018	$14,540,149	$14,540,149	$40,270,471	No data

Rural Electric Convenience Cooperative