Thumb Electric Cooperative of Michigan (EIN 381101255) - 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

Bradley Essenmacher

Phone

9896588571

Tax Period

2024-01-01 to 2024-12-31

Thumb Electric Cooperative of Michigan, founded in 1937, is a mid-sized nonprofit that reported $34.6M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

Electric Cooperative with Broadband.

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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 $33,894,348

Investment Income $646,600

Other Revenue $38,656

TOTAL REVENUE $34,579,604

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,522,207

Fundraising Expenses $0

Other Expenses $23,687,955

TOTAL EXPENSES $35,105,488

Year-over-Year Comparison

	2024	2023	Change
Revenue	$34,579,604	$31,267,329	+0.1%
Expenses	$35,105,488	$30,744,976	+0.1%
Net Income	$-525,884	$522,353	-2.0%

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

$704,128

Total Directors

$76,978

Key Employees

$227,308

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jonathan M Findlay	President	2.00	Officer Director	$10,925	$0	$10,925
Kim Nunn	Vice President	2.00	Officer Director	$11,550	$0	$11,550
Mike P Briolat	Secretary	2.00	Officer Director	$9,238	$0	$9,238
Randall J Dhyse	Treasurer	2.00	Officer Director	$5,963	$0	$5,963
Duane Kursinsky	Director	2.00	Director	$3,938	$0	$3,938
Louis E Wenzlaff	Director	2.00	Director	$7,438	$0	$7,438
Craig M Osentoski	Director	2.00	Director	$9,275	$0	$9,275
Matt L Sommer	Director	2.00	Director	$8,413	$0	$8,413
Erica L Weidman	Director	2.00	Director	$10,238	$0	$10,238
Bradley Essenmacher	General Manager	40.00	Officer	$262,517	$159,127	$421,644
Deborah Peruski	Accounting Manager	40.00	Officer	$133,231	$111,577	$244,808
Brandon Legault	Operations Manager	40.00	Key Emp	$182,609	$44,699	$227,308
Michael Cleland	Journeyman Lineman	40.00	Highest	$168,462	$32,698	$201,160
James Vogel	Journeyman Lineman-Foreman	40.00	Highest	$167,106	$45,094	$212,200
Gary Burns Jr	Journeyman Lineman-Foreman	40.00	Highest	$166,651	$30,680	$197,331
Raymond Eskau	Journeyman Lineman	40.00	Highest	$166,046	$31,902	$197,948
Michael Kozlowski	Journeyman Lineman-Utility	40.00	Highest	$163,457	$44,013	$207,470

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	$34,579,604	$35,105,488	$209,440,494	$-525,884
2023	$31,267,329	$30,744,976	$169,361,198	$522,353
2022	$28,200,697	$27,026,663	$142,582,924	$1,174,034
2021	$24,270,853	$24,603,733	$121,318,630	$-332,880
2020	$22,951,554	$23,006,073	$86,613,506	$-54,519
2019	$22,231,704	$22,280,759	$82,093,205	$-49,055
2018	$22,377,923	$22,407,026	$78,243,208	$-29,103

Thumb Electric Cooperative of Michigan