Michigan Electric Cooperative Association (EIN 382214287) - 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

1978

Legal Domicile

Principal Officer

John Kran

Phone

5173516322

Tax Period

2024-01-01 to 2024-12-31

Michigan Electric Cooperative Association, founded in 1978, is a community nonprofit that reported $2.9M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year.

Mission

To promote and serve the needs of the member cooperatives.

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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 $2,866,701

Investment Income $51,431

Other Revenue $0

TOTAL REVENUE $2,918,132

Expense Breakdown

Grants Paid $0

Salaries & Benefits $518,223

Fundraising Expenses $0

Other Expenses $2,462,187

TOTAL EXPENSES $2,980,410

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,918,132	$3,186,522	-0.1%
Expenses	$2,980,410	$3,013,244	0.0%
Net Income	$-62,278	$173,278	-1.4%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joe McElroy	Director of Safety & Loss	47.40	Highest	$185,877	$72,351	$258,228
Thomas Ulatowski	Safety & Loss Control Inst	42.50	Highest	$120,263	$34,375	$154,638
Craig Borr	President/CEO	40.00	Officer	$0	$0	$0
Tom Sobeck	Chair (Jan-Jun)	2.60	Officer Director	$0	$0	$0
Chris O'Neill	Sec/Treas (Jan-Jun)/Chair (Jul-Dec)	2.00	Officer Director	$0	$0	$0
Shaun Lamp	Director(Jan-Jun)/Sec/Treas (Jul-Dec)	0.70	Officer Director	$0	$0	$0
Gabe Schneider	Vice Chairman	10.00	Officer Director	$0	$0	$0
Mike Furmanski	Director	0.80	Director	$0	$0	$0
Howard Bowersox	Director	2.10	Director	$0	$0	$0
Jim Stebbins	Director	0.60	Director	$0	$0	$0
Bill Hodges	Director	5.00	Director	$0	$0	$0
Gerry Bundle	Director	1.80	Director	$0	$0	$0
Brad Essenmacher	Director	0.30	Director	$0	$0	$0
Don Johnson	Director	6.50	Director	$0	$0	$0
Rachel Johnson	Director	0.10	Director	$0	$0	$0
Brian Takvalkoski	Director	0.10	Director	$0	$0	$0
Erica Weidman	Director	4.00	Director	$0	$0	$0
Eric Baker	Director	8.50	Director	$0	$0	$0
Fred Turk	Director	1.00	Director	$0	$0	$0
Brentt Lucas	Director (Jun-Dec)	3.00	Director	$0	$0	$0
Dan DeCoeur	Director (Jan-Aug)	0.10	Director	$0	$0	$0
Bob Hance	Director (Jan-Sep)	0.10	Director	$0	$0	$0
Sandy Borowicz	Director (Jan-May)	2.00	Director	$0	$0	$0
Randy Dhyse	Director (Jan-Mar)	5.30	Director	$0	$0	$0
Terry Rubenthaler	Director (Oct-Dec)	2.00	Director	$0	$0	$0
Eugene Soumis	Director (Jan-Mar)	1.00	Director	$0	$0	$0
Dallas Aho	Director (Jun-Dec)	2.30	Director	$0	$0	$0
Allan Berg	Director (Nov-Dec)	2.00	Director	$0	$0	$0

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	$2,918,132	$2,980,410	$2,058,190	$-62,278
2023	$3,186,522	$3,013,244	$2,222,472	$173,278
2022	$3,291,077	$3,071,496	$2,134,456	$219,581
2021	$3,176,701	$3,058,077	$2,436,786	$118,624
2020	$3,120,072	$2,926,230	$2,299,931	$193,842
2019	$3,162,653	$3,071,739	$1,560,519	$90,914
2018	$3,115,025	$2,984,503	$2,229,877	$130,522

Michigan Electric Cooperative Association