MIDWEST ENERGY COOPERATIVE (EIN 383386126) - 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

1998

Legal Domicile

Principal Officer

ROBERT HANCE

Phone

2694451000

Tax Period

2023-01-01 to 2023-12-31

MIDWEST ENERGY COOPERATIVE, founded in 1998, is a major nonprofit in the Food, Agriculture & Nutrition sector that reported $146.6M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

PROVIDE ELECTRIC POWER TO MEMBERS

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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 $130,238,820

Investment Income $258,722

Other Revenue $16,115,899

TOTAL REVENUE $146,613,441

Expense Breakdown

Grants Paid $8,269

Salaries & Benefits $3,626,474

Fundraising Expenses $0

Other Expenses $115,018,278

TOTAL EXPENSES $145,147,935

Year-over-Year Comparison

	2023	2022	Change
Revenue	$146,613,441	$134,375,062	+0.1%
Expenses	$145,147,935	$133,311,610	+0.1%
Net Income	$1,465,506	$1,063,452	+0.4%

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

185

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

$1,662,153

Total Directors

$145,957

Key Employees

$756,852

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLARENCE BARTH	CHAIRMAN	2.80	Officer Director	$21,150	$8	$21,158
GERRY BUNDLE	DIRECTOR	4.10	Director	$27,800	$13	$27,813
JAMES WISELY	DIRECTOR	4.80	Director	$20,200	$13	$20,213
DANIEL BODETTE	DIRECTOR	3.60	Director	$18,700	$13	$18,713
FRED TURK	DIRECTOR	2.50	Director	$15,200	$13	$15,213
JOHN GREEN	TREASURER	2.00	Officer Director	$11,200	$13	$11,213
ERIKA ESCUE-CADIEUX	DIRECTOR	2.90	Director	$11,200	$13	$11,213
BEN RUSSELL	VICE CHAIRMAN	1.70	Officer Director	$10,200	$8	$10,208
RONALD ARMSTRONG	SECRETARY	1.80	Officer Director	$10,200	$13	$10,213
ROBERT HANCE	CEO/PRESIDENT	65.00	Officer	$510,076	$72,091	$582,167
TERRY RUBENTHALER	CTO	50.00	Officer	$358,272	$31,663	$389,935
DWAIN CHAPMAN	CHIEF STRATEGIC & CYBER SECURITY	50.00	Officer	$295,783	$33,197	$328,980
TODD CRANDALL	CFO	55.00	Officer	$274,471	$33,808	$308,279
CHAD RITCHIE	VP ELECTRIC & FIBER OPERATIONS	50.00	Key Emp	$235,401	$30,093	$265,494
CANDY RIEM	VP MARKETING & MEMBER SERVICES	50.00	Key Emp	$223,515	$30,229	$253,744
KERRI WADE	VP EMPLOYEE ENGAGEMENT	50.00	Key Emp	$213,145	$24,469	$237,614
STEPHEN HUNSBERGER	LINEMAN	51.40	Highest	$187,036	$127,352	$314,388
JAMES HAAS	VP REGULATORY & GAS OPERATIONS	50.80	Highest	$178,655	$96,092	$274,747
KURT SCHANTZ	LINEMAN	50.20	Highest	$177,196	$89,726	$266,922
DAVID ALLEN	VP REGULATORY & GAS OPERATIONS	50.00	Highest	$183,232	$25,040	$208,272
PATRICK HARDING	LINEMAN	50.80	Highest	$182,565	$7,242	$189,807

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	$146,613,441	$145,147,935	$480,967,655	$1,465,506
2022	$134,375,062	$133,311,610	$400,689,871	$1,063,452
2021	$119,294,620	$118,245,854	$334,250,567	$1,048,766
2020	$105,303,622	$104,429,736	$296,468,221	$873,886
2019	$101,534,792	$100,771,187	$273,954,360	$763,605
2018	$97,253,649	$96,315,846	$267,956,164	$937,803

MIDWEST ENERGY COOPERATIVE