BROWN COUNTY RURAL ELECTRICAL ASSOCIATION (EIN 410167135) - 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

MICHAEL HEIDEMANN

Phone

5077943331

Tax Period

2024-01-01 to 2024-12-31

BROWN COUNTY RURAL ELECTRICAL ASSOCIATION, founded in 1937, is a mid-sized nonprofit that reported $17.2M in total revenue in fiscal year 2024.

Mission

TO PROVIDE ELECTRICITY 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 $16,766,705

Investment Income $394,144

Other Revenue $-2,284

TOTAL REVENUE $17,158,565

Expense Breakdown

Grants Paid $2,870

Salaries & Benefits $558,173

Fundraising Expenses $0

Other Expenses $14,743,821

TOTAL EXPENSES $17,092,441

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,158,565	$17,469,616	0.0%
Expenses	$17,092,441	$17,300,815	0.0%
Net Income	$66,124	$168,801	-0.6%

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

$465,365

Total Directors

$116,050

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS HAYES	PRESIDENT	9.10	Officer Director	$15,150	$0	$15,150
WILLIAM BERG	VICE PRESIDENT	6.20	Officer Director	$14,000	$0	$14,000
JAMES HANSON	SECRETARY/TREASURER	7.80	Officer Director	$13,000	$0	$13,000
JOEL CHRISTENSEN	DIRECTOR	4.10	Director	$11,000	$0	$11,000
GREGORY MAGES	DIRECTOR	3.70	Director	$11,900	$0	$11,900
BRADLEY SPRENGER	DIRECTOR	4.50	Director	$12,200	$0	$12,200
DAVID WENDINGER	DIRECTOR	5.30	Director	$12,700	$0	$12,700
LANDON SLETTA	DIRECTOR	3.90	Director	$12,200	$0	$12,200
JAMES MICKELSON	DIRECTOR	5.30	Director	$13,900	$0	$13,900
MICHAEL HEIDEMANN	CEO	40.30	Officer	$174,158	$94,825	$268,983
JENNIFER ROSE	CFO	43.30	Officer	$93,510	$60,722	$154,232
BRANDON HAVEMEIER	ENGINEERING AND OPERATIONS MANAGER	45.80	Highest	$126,568	$56,441	$183,009
NICHOLAS HORMAN	LINEMAN-IN-CHARGE	41.70	Highest	$121,359	$16,380	$137,739
CONNOR NELSEN	LINEMAN	41.10	Highest	$107,505	$23,604	$131,109
ADAM FISCHER	LINEMAN-IN-CHARGE	41.40	Highest	$112,538	$48,501	$161,039
TYLER JENSEN	LINEMAN	41.60	Highest	$106,419	$42,590	$149,009

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	$17,158,565	$17,092,441	$49,130,905	$66,124
2023	$17,469,616	$17,300,815	$47,777,901	$168,801
2022	$16,899,394	$16,842,651	$45,245,763	$56,743
2021	$16,302,715	$16,152,571	$44,068,104	$150,144
2020	$16,066,825	$15,992,493	$43,369,853	$74,332
2019	$15,400,952	$15,400,953	$40,485,127	$-1
2018	$15,157,269	$15,206,128	$37,944,586	$-48,859

BROWN COUNTY RURAL ELECTRICAL ASSOCIATION