Presque Isle Electric & Gas Co-op (EIN 380941545) - 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

1937

Legal Domicile

Principal Officer

Allan Berg

Phone

9897338515

Tax Period

2024-01-01 to 2024-12-31

Presque Isle Electric & Gas Co-op, founded in 1937, is a mid-sized nonprofit that reported $69.7M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

To provide energy and other services to sustain and improve the quality of life for our members through the use of a cooperative business structure.

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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 $1,126,354

Program Service Revenue $69,208,608

Investment Income $-666,413

Other Revenue $25,523

TOTAL REVENUE $69,694,072

Expense Breakdown

Grants Paid $0

Salaries & Benefits $12,092,614

Fundraising Expenses $0

Other Expenses $53,823,834

TOTAL EXPENSES $72,634,911

Year-over-Year Comparison

	2024	2023	Change
Revenue	$69,694,072	$60,694,805	+0.1%
Expenses	$72,634,911	$63,612,097	+0.1%
Net Income	$-2,940,839	$-2,917,292	+0.0%

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

123

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

$696,655

Total Directors

$338,465

Key Employees

$170,549

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Allan Berg	President & CEO (As of May 2024)	50.00	Officer Director	$216,045	$13,990	$230,035
John Brown	Vice Chairman/Chairman/Director	14.00	Director	$14,240	$0	$14,240
Sandra Borowicz	Secretary/Chairman	15.00	Officer Director	$14,480	$0	$14,480
Sally Knopf	Director/Secretary	7.00	Officer Director	$12,320	$0	$12,320
Brentt Lucas	Treasurer	12.00	Officer Director	$14,280	$0	$14,280
Daryl Peterson	Director/Vice Chairman	7.50	Officer Director	$12,390	$0	$12,390
Christopher Nagel	Director	4.20	Director	$14,210	$0	$14,210
Gerald Smigelski	Director (As of Nov 2024)	4.50	Director	$920	$0	$920
Kurt Krajniak	Director	7.30	Director	$13,740	$0	$13,740
Raymond Wozniak	Director	9.00	Director	$11,850	$0	$11,850
Thomas Sobeck	President & CEO (Until June 2024)	45.00	Officer	$192,780	$28,068	$220,848
Randy Stempky	CFO	45.00	Officer	$121,637	$70,665	$192,302
Richard Kieliszewski	Director Info Tech(Until Aug 2024)	50.40	Key Emp	$157,110	$13,439	$170,549
Thomas Lupu	Working Foreman	56.50	Highest	$180,620	$37,035	$217,655
Thomas Pauly	Class A Lineman	56.70	Highest	$177,596	$42,714	$220,310
Kenniston Butler	Working Foreman	53.70	Highest	$173,801	$43,227	$217,028
Jason Tribisondi	Class A Lineman	51.60	Highest	$161,793	$10,691	$172,484
Donald Lalonde	Staking Engineer	52.00	Highest	$160,938	$21,214	$182,152

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	$69,694,072	$72,634,911	$240,193,551	$-2,940,839
2023	$60,694,805	$63,612,097	$219,484,162	$-2,917,292
2022	$55,556,588	$61,481,567	$186,492,405	$-5,924,979
2021	$50,602,762	$52,899,793	$158,334,042	$-2,297,031
2020	$50,190,753	$47,205,361	$137,955,532	$2,985,392
2019	$48,885,001	$49,283,016	$123,169,477	$-398,015
2018	$47,944,212	$47,779,639	$123,232,224	$164,573

Presque Isle Electric & Gas Co-op