Shelby Electric Cooperative (EIN 370512347) - 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

Josh M Shallenberger

Tax Period

2023-01-01 to 2023-12-31

Shelby Electric Cooperative, founded in 1938, is a mid-sized nonprofit that reported $42.3M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $39.9M left a modest 6% surplus.

Mission

To provide reliable electric power and related services to our members at an affordable cost.

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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 $2,434,670

Program Service Revenue $39,807,974

Investment Income $71,156

Other Revenue $13,954

TOTAL REVENUE $42,327,754

Expense Breakdown

Grants Paid $7,500

Salaries & Benefits $1,353,238

Fundraising Expenses $0

Other Expenses $35,124,370

TOTAL EXPENSES $39,893,084

Year-over-Year Comparison

	2023	2022	Change
Revenue	$42,327,754	$38,433,374	+0.1%
Expenses	$39,893,084	$38,433,374	+0.0%
Net Income	$2,434,670	N/A	N/A

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

$559,909

Total Directors

$45,900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Josh M Shallenberger	CEO	45.00	Officer	$287,358	$101,051	$388,409
Bradley R Wright	Operations	45.00	Highest	$129,227	$74,797	$204,024
Brian R Chevalier	Operations	45.00	Highest	$135,325	$60,606	$195,931
Andrew M McDonald	Operations	45.00	Highest	$131,932	$54,530	$186,462
James A Matlock	COO	45.00	Officer	$145,288	$26,212	$171,500
Terry L Oldham	Operations	45.00	Highest	$135,324	$25,688	$161,012
Robert Holthaus	Director	3.00	Director	$12,000	$0	$12,000
David Keown	Director	2.00	Director	$6,900	$0	$6,900
Rob Bullock	Director	1.00	Director	$6,000	$0	$6,000
John Gardner	Director	2.00	Director	$5,100	$0	$5,100
Scott Ohmes	Director	2.00	Director	$3,600	$0	$3,600
Brent Lively	Director	2.00	Director	$3,600	$0	$3,600
Greg Mackling	Director	1.00	Director	$3,600	$0	$3,600
Tim Lenz	Director	1.00	Director	$2,100	$0	$2,100
Larry Durbin	Director	1.00	Director	$1,500	$0	$1,500
Brian Halbrook	Director	1.00	Director	$1,500	$0	$1,500

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	$42,327,754	$39,893,084	$83,722,438	$2,434,670
2022	$38,433,374	$38,433,374	$82,582,936	No data
2021	$36,550,827	$36,550,827	$76,941,402	No data
2020	$37,473,892	$37,473,892	$76,480,054	No data
2019	$37,349,704	$37,349,704	$74,014,876	No data
2018	$38,434,600	$36,712,288	$70,553,044	$1,722,312

Shelby Electric Cooperative