REDWOOD ELECTRIC COOPERATIVE

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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

RONALD L HORMAN

Phone

5076922214

Tax Period

2023-01-01 to 2023-12-31

REDWOOD ELECTRIC COOPERATIVE, founded in 1937, is a mid-sized nonprofit that reported $16.7M in total revenue in fiscal year 2023.

Mission

PROVIDE RELIABLE, EFFICIENT DELIVERY OF ELECTRICITY AND OTHER SERVICES TO OUR MEMBER OWNERS WITH THE HIGHEST LEVEL OF CUSTOMER SERVICE.

Program Service Accomplishments

Program 1

PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,661 MEMBERS ALONG 1,317 MILES OF LINE.

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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 $16,616,095

Investment Income $59,819

Other Revenue $-19,369

TOTAL REVENUE $16,656,545

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,500,613

Fundraising Expenses $0

Other Expenses $12,978,219

TOTAL EXPENSES $16,656,545

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,656,545	$16,327,136	+0.0%
Expenses	$16,656,545	$16,327,136	+0.0%
Net Income	$0	$0	N/A

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

$415,040

Total Directors

$93,160

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD NELSON	PRESIDENT	3.00	Officer Director	$13,650	$0	$13,650
DANIEL TAUER	VICE PRESIDENT	2.00	Officer Director	$13,150	$0	$13,150
JILL WEBER VANDERWAL	SECRETARY/TREASURER	2.00	Officer Director	$12,850	$0	$12,850
MICHAEL BAUNE	DIRECTOR	3.50	Director	$13,750	$0	$13,750
DEAN FULTZ	DIRECTOR	2.00	Director	$12,950	$0	$12,950
EMILY EVANS	DIRECTOR	2.00	Director	$12,750	$0	$12,750
GEORGE TURBES	DIRECTOR	2.00	Director	$14,060	$0	$14,060
RONALD L HORMAN	GENERAL MANAGER	26.00	Officer	$117,263	$63,835	$181,098
HOPE LANG	MANAGER OF FINANCE & ADMIN	40.00	Officer	$126,434	$67,858	$194,292
CHAD NELSEN	OPERATIONS MANAGER	40.00	Highest	$127,150	$65,487	$192,637
MARTIN BERG	FOREMAN	42.00	Highest	$104,079	$66,135	$170,214
DONALD DIETZ	SENIOR FOREMAN	42.00	Highest	$110,888	$69,510	$180,398
CLARK GARDNER	SENIOR FOREMAN	42.00	Highest	$111,011	$86,622	$197,633
MATTHEW GRUNEWALD	FOREMAN	43.00	Highest	$112,721	$60,727	$173,448

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	$16,656,545	$16,656,545	$41,672,799	No data
2022	$16,327,136	$16,327,136	$42,577,530	No data
2021	$15,927,488	$15,642,324	$43,074,738	$285,164
2020	$15,117,634	$15,117,634	$41,431,886	No data
2019	$15,296,108	$15,296,108	$37,533,365	No data
2018	$15,864,657	$15,864,657	$37,098,202	No data