TRAVERSE ELECTRIC COOPERATIVE INC (EIN 410581955) - 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

DOUGLAS DIEKMANN

Phone

3205638616

Tax Period

2023-01-01 to 2023-12-31

TRAVERSE ELECTRIC COOPERATIVE INC, founded in 1940, is a mid-sized nonprofit that reported $14.7M in total revenue in fiscal year 2023.

Mission

AN ELECTRIC COOPERATIVE PROVIDING ELECTRIC SERVICE TO MEMBERS AT THE LOWEST POSSIBLE COST.

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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 $13,196,324

Investment Income $277,582

Other Revenue $1,227,872

TOTAL REVENUE $14,701,778

Expense Breakdown

Grants Paid $0

Salaries & Benefits $568,186

Fundraising Expenses $0

Other Expenses $12,075,899

TOTAL EXPENSES $14,701,778

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,701,778	$13,733,233	+0.1%
Expenses	$14,701,778	$13,733,233	+0.1%
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

$438,465

Total Directors

$39,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUG DIEKMANN	PRESIDENT	2.00	Officer Director	$4,000	$0	$4,000
TOM FRISCH	VICE PRESIDENT	2.00	Officer Director	$3,750	$0	$3,750
MATTHEW GLYNN	SECETARY	2.00	Officer Director	$3,875	$0	$3,875
MARK PEARSON	SECRETARY (LEFT MARCH 2023)	1.00	Officer Director	$1,500	$0	$1,500
MICHAEL MARKS	TREASURER	3.00	Officer Director	$5,875	$0	$5,875
STACY EHLERS	DIRECTOR	1.00	Director	$3,500	$0	$3,500
MICHAEL GAULRAPP	DIRECTOR	2.00	Director	$4,625	$0	$4,625
BRADLEY RUDOLPH	DIRECTOR	2.00	Director	$4,375	$0	$4,375
TERRY MONSON	DIRECTOR	3.00	Director	$6,250	$0	$6,250
JARED HAMLING	DIRETOR (SEPT-DEC 2023)	2.00	Director	$1,250	$0	$1,250
JEREMY HUHNSTOCK	GENERAL MANAGER	44.00	Officer	$157,912	$48,950	$206,862
DALE SCHWAGEL	OPERATIONS MANAGER/INTERIM GM 1/1/23-3/5/23	45.00	Officer	$151,832	$60,771	$212,603
LONNIE TEKRONY	JOURNEY LINEWORKER	44.00	Highest	$102,091	$50,263	$152,354
KAREN LUPKES	OFFICE MANAGER	44.00	Highest	$146,118	$60,618	$206,736
RICHARD DAVIS	JOURNEY LINEWORKER/LINE FOREMAN	43.00	Highest	$104,646	$51,453	$156,099
JOSEPH GAHLON	JOURNEY LINEWORKER	43.00	Highest	$101,419	$51,630	$153,049

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	$14,701,778	$14,701,778	$43,938,330	No data
2022	$13,733,233	$13,733,233	$36,319,243	No data
2021	$12,647,897	$12,647,897	$32,279,504	No data
2020	$12,189,793	$12,189,793	$28,006,928	No data
2019	$12,208,256	$12,208,256	$27,652,439	No data
2018	$12,312,704	$12,312,704	$27,311,439	No data

TRAVERSE ELECTRIC COOPERATIVE INC