Wolverine Power Supply Cooperative Inc (EIN 381326766) - 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

1983

Legal Domicile

Phone

2317757500

Tax Period

2023-01-01 to 2023-12-31

Wolverine Power Supply Cooperative Inc, founded in 1983, is a major nonprofit that reported $540.0M in total revenue in fiscal year 2023. Revenue fell 24% from the prior year — a significant decline worth monitoring.

Mission

TO PROVIDE OUTSTANDING SERVICE TO OUR MEMBERS BY DELIVERING RELIABLE, COMPETITIVE POWER SUPPLY.

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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 $537,141,609

Investment Income $1,587,969

Other Revenue $1,275,233

TOTAL REVENUE $540,004,811

Expense Breakdown

Grants Paid $68,099

Salaries & Benefits $30,736,199

Fundraising Expenses $0

Program Expenses $0

Other Expenses $491,544,143

TOTAL EXPENSES $540,004,811

Year-over-Year Comparison

	2023	2022	Change
Revenue	$540,004,811	$706,588,810	-0.2%
Expenses	$540,004,811	$704,772,082	-0.2%
Net Income	$0	$1,816,728	-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

192

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

$1,755,358

Total Directors

$329,800

Key Employees

$1,011,049

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	DIRECTOR / CHAIR (April - Dec)/ VICE CHAIR (Jan - April)	6.0	Officer Director	$28,200	$0	$28,200
N/A	DIRECTOR / VICE-CHAIR (April -Dec)	6.0	Officer Director	$12,000	$12,000	$24,000
N/A	DIRECTOR / SECRETARY	5.0	Officer Director	$20,400	$3,600	$24,500
N/A	DIRECTOR / TREASURER	5.4	Officer Director	$27,700	$0	$27,700
N/A	DIRECTOR / CHAIRMAN (Jan - April)	8.0	Officer Director	$27,400	$0	$27,900
N/A	DIRECTOR	4.0	Director	$0	$25,000	$25,000
N/A	DIRECTOR (JAN - AUG.)	6.0	Director	$500	$15,000	$15,500
N/A	DIRECTOR	6.0	Director	$23,000	$0	$23,000
N/A	DIRECTOR	6.0	Director	$26,000	$0	$26,000
N/A	DIRECTOR (AUG - DEC)	3.0	Director	$9,500	$0	$9,500
N/A	DIRECTOR (JAN - AUG)	7.5	Director	$15,500	$0	$15,500
N/A	DIRECTOR	6.0	Director	$24,000	$0	$24,000
N/A	DIRECTOR (SEPT - DEC)	5.0	Director	$3,250	$3,250	$6,500
N/A	DIRECTOR	4.0	Director	$26,000	$0	$26,000
N/A	DIRECTOR (compensation paid to charity)	4.5	Director	$0	$0	$0
N/A	DIRECTOR	6.0	Director	$13,250	$13,250	$26,500
N/A	PRESIDENT & CEO	50.0	Officer	$916,244	$290,553	$1,206,797
N/A	CHIEF HUMAN RESOURCE OFFICER	50.0	Officer	$283,524	$132,737	$416,261
N/A	CHIEF LEGAL OFFICER	50.0	Key Emp	$368,398	$131,125	$499,523
N/A	CHIEF OPERATING OFFICER	50.0	Key Emp	$364,474	$147,052	$511,526
N/A	EXECUTIVE VICE PRESIDENT	48.0	Highest	$452,361	$298,310	$750,671
N/A	VICE PRESIDENT	28.4	Highest	$213,116	$124,647	$337,763
N/A	VP GENERATION & OPERATIONS`	50.0	Highest	$245,834	$249,374	$495,208
N/A	VP ADMINISTRATION	50.0	Highest	$209,831	$161,754	$371,585
N/A	VP of Accounting and Finance	48.0	Highest	$224,918	$40,886	$265,804

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	$540,004,811	$540,004,811	$1,074,978,996	No data
2022	$706,588,810	$704,772,082	$1,046,991,533	$1,816,728
2021	$556,306,485	$555,287,360	$963,621,114	$1,019,125
2020	$464,201,273	$463,058,988	$915,295,568	$1,142,285
2019	$435,826,214	$434,073,653	$858,746,678	$1,752,561
2018	$476,602,350	$475,561,367	$778,347,522	$1,040,983

Wolverine Power Supply Cooperative Inc