MINNESOTA RURAL ELECTRIC ASSOCIATION (EIN 410417193) - 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

1940

Legal Domicile

Principal Officer

DARRICK MOE

Phone

7634241020

Tax Period

2024-01-01 to 2024-12-31

MINNESOTA RURAL ELECTRIC ASSOCIATION, founded in 1940, is a community nonprofit that reported $5.5M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $5.0M left a modest 9% surplus.

Mission

THE ASSOCIATION WAS FORMED TO PROVIDE SERVICES TO ITS MEMBERS INCLUDING EDUCATION, JOB TRAINING AND SAFETY, AND LEGISLATIVE AND REGULATOR REPRESENTATION.

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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 $5,307,470

Investment Income $176,353

Other Revenue $0

TOTAL REVENUE $5,483,823

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,781,415

Fundraising Expenses $0

Other Expenses $2,233,626

TOTAL EXPENSES $5,015,041

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,483,823	$4,963,044	+0.1%
Expenses	$5,015,041	$4,614,349	+0.1%
Net Income	$468,782	$348,695	+0.3%

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

$618,943

Total Directors

$102,769

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DARRICK MOE	PRESIDENT &	40.00	Officer	$305,291	$89,764	$395,055
JOE MILLER	DIRECTOR OF	40.00	Highest	$142,578	$121,561	$264,139
MELISSA STACHOVICH	DIRECTOR-FIN	40.00	Officer	$179,317	$44,571	$223,888
JENNY GLUMACK	DIRECTOR GOV	40.00	Highest	$178,910	$38,871	$217,781
ANTHONY LENZ	DIRECTOR-SAF	40.00	Highest	$151,130	$28,617	$179,747
WES WALLER	CHAIR	11.00	Director	$13,294	$0	$13,294
RICHARD COE	FIRST VICE C	6.00	Director	$8,750	$0	$8,750
WARREN RAU	TREASURER	6.00	Director	$8,562	$0	$8,562
JEFF NORNES	SECOND VICE	4.00	Director	$7,945	$0	$7,945
JOHN REYNOLDS	DIRECTOR	4.00	Director	$7,840	$0	$7,840
SCOTT THIESSE	DIRECTOR	6.00	Director	$6,886	$0	$6,886
TRACY LAURITZEN	DIRECTOR	4.00	Director	$6,708	$0	$6,708
RON STEVENS	SECRETARY	5.00	Director	$6,696	$0	$6,696
TIM VELDE	DIRECTOR	5.00	Director	$6,562	$0	$6,562
JERRY TVEDT	DIRECTOR	4.00	Director	$6,450	$0	$6,450
RONALD SCHWARTAU	DIRECTOR	4.00	Director	$6,226	$0	$6,226
AILEEN DEMENGE	DIRECTOR	4.00	Director	$6,123	$0	$6,123
JOHN DEYOE	DIRECTOR	5.00	Director	$5,938	$0	$5,938
SHELLY PETERSON	DIRECTOR	3.00	Director	$4,789	$0	$4,789

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	$5,483,823	$5,015,041	$3,928,922	$468,782
2023	$4,963,044	$4,614,349	$3,418,406	$348,695
2022	$4,674,458	$4,521,431	$3,072,813	$153,027
2021	$4,154,040	$3,936,728	$2,968,531	$217,312
2020	$3,833,827	$3,681,079	$2,706,832	$152,748
2019	$4,008,036	$4,042,634	$2,650,648	$-34,598
2018	$3,995,591	$3,798,364	$2,799,619	$197,227

MINNESOTA RURAL ELECTRIC ASSOCIATION