WESTERN IOWA POWER COOPERATIVE (EIN 391884367) - 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

1997

Legal Domicile

Principal Officer

STEPHANIE WIESE

Phone

7122632943

Tax Period

2024-01-01 to 2024-12-31

WESTERN IOWA POWER COOPERATIVE, founded in 1997, is a mid-sized nonprofit that reported $14.9M in total revenue in fiscal year 2024. Expenses of $14.3M left a modest 5% surplus.

Mission

TO PROVIDE ELECTRIC SERVICE 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $14,108,784

Investment Income $48,898

Other Revenue $776,132

TOTAL REVENUE $14,933,814

Expense Breakdown

Grants Paid $6,797

Salaries & Benefits $443,405

Fundraising Expenses $0

Other Expenses $13,403,966

TOTAL EXPENSES $14,254,168

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,933,814	$15,274,054	0.0%
Expenses	$14,254,168	$14,226,542	+0.0%
Net Income	$679,646	$1,047,512	-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

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

$403,507

Total Directors

$53,900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CRAIG RIESBURG	TREASURER	2.80	Officer Director	$5,500	$0	$5,500
DAVID CARLSON	DIRECTOR UNTIL 08/2024	1.50	Director	$4,950	$0	$4,950
JANET IVERSEN	CHAIRMAN	4.30	Officer Director	$8,800	$0	$8,800
LOUIS REED	DIRECTOR	3.70	Director	$3,850	$0	$3,850
MIKE BLUM	ASST SECRETARY/TREASURER	5.80	Officer Director	$9,900	$0	$9,900
PETER ALEXANDER	SECRETARY	1.80	Officer Director	$4,675	$0	$4,675
ROSS WOOD	VICE CHAIR	1.50	Officer Director	$2,750	$0	$2,750
BART HEISTERKAMP	DIRECTOR FROM 09/2024	1.30	Officer Director	$1,375	$0	$1,375
BRIAN LUNDELL	DIRECTOR	2.30	Director	$3,025	$0	$3,025
KENNETH SMITH	DIRECTOR	3.20	Director	$5,500	$0	$5,500
GARY VOLKERT	DIRECTOR	0.80	Director	$3,575	$0	$3,575
MARCUS RIHNER - EVP AND	GENERAL MANAGER UNTIL 12/2024	45.00	Officer	$157,242	$30,313	$187,555
STEPHANIE WIESE - ASST MGR	DIR MBR SERV/INTERIM GM FROM 12/2024	40.00	Officer	$145,165	$37,787	$182,952
JOHN AKERS	OPERATIONS MANAGER	40.00	Highest	$146,190	$24,231	$170,421
JUSTIN PARKS	CFO	40.00	Highest	$124,585	$33,466	$158,051
CAMERON YOULL	FOREMAN	43.50	Highest	$119,488	$13,651	$133,139
MARK TROTTER	FOREMAN/STAKING TECHNICIAN	44.40	Highest	$114,697	$30,394	$145,091
CHRISTOPHER MERRITT	FOREMAN	42.80	Highest	$111,580	$30,540	$142,120

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	$14,933,814	$14,254,168	$60,282,500	$679,646
2023	$15,274,054	$14,226,542	$58,236,839	$1,047,512
2022	$14,883,426	$14,032,557	$55,996,172	$850,869
2021	$13,900,193	$13,206,130	$52,005,052	$694,063
2020	$14,977,901	$14,436,899	$50,386,956	$541,002
2019	$17,000,847	$15,935,748	$50,099,056	$1,065,099
2018	$15,968,753	$15,208,362	$48,196,270	$760,391

WESTERN IOWA POWER COOPERATIVE