WILD RICE ELECTRIC COOPERATIVE INC (EIN 410612945) - 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

1939

Legal Domicile

Principal Officer

MICHAEL WADE

Phone

2189352517

Tax Period

2024-01-01 to 2024-12-31

WILD RICE ELECTRIC COOPERATIVE INC, founded in 1939, is a mid-sized nonprofit that reported $35.8M in total revenue in fiscal year 2024.

Mission

THE EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROVIDE ELECTRICITY 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 $35,470,643

Investment Income $89,536

Other Revenue $252,890

TOTAL REVENUE $35,813,069

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,416,605

Fundraising Expenses $0

Other Expenses $29,074,025

TOTAL EXPENSES $35,719,544

Year-over-Year Comparison

	2024	2023	Change
Revenue	$35,813,069	$36,527,960	0.0%
Expenses	$35,719,544	$36,073,471	0.0%
Net Income	$93,525	$454,489	-0.8%

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

$526,462

Total Directors

$84,817

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LARRY SOLLIE	VICE CHAIR	7.00	Officer Director	$10,332	$0	$10,332
ROGER WINTER	DIRECTOR	4.14	Director	$10,271	$0	$10,271
JEFF NORNES	DIRECTOR	4.80	Director	$9,782	$0	$9,782
JIMMY KAISER	CHAIRMAN	4.23	Officer Director	$9,723	$0	$9,723
RANDY BJORNSON	DIRECTOR	4.40	Director	$9,657	$0	$9,657
DAVID HAMRE	TREASURER	4.10	Officer Director	$9,034	$0	$9,034
GREG LAVOY	DIRECTOR	2.65	Director	$7,532	$0	$7,532
PAULA OKESON	DIRECTOR (STARTED 4/2024)	4.80	Director	$7,522	$0	$7,522
MARK HABEDANK	SECRETARY	4.62	Officer Director	$7,082	$0	$7,082
RUSSEL OKESON	DIRECTOR (LEFT 4/2024)	4.62	Director	$3,882	$0	$3,882
MICHAEL WADE	PRESIDENT/CEO	40.00	Officer	$215,596	$137,407	$353,003
CRYSTAL ASKELSON	DIRECTOR OF FINANCE	40.00	Officer	$98,443	$38,845	$137,288
KENNETH CRANE	FORMAN	45.00	Highest	$123,447	$45,749	$169,196
GLEN SOMMERS	JOURNEYMAN	45.00	Highest	$119,781	$17,788	$137,569
TRAVIS OBOWA	LEAD LINEMAN	46.00	Highest	$118,694	$61,770	$180,464
NICHOLAS JASKEN	LEAD LINEMAN	48.00	Highest	$118,332	$37,610	$155,942
MICHAEL KORSGADEN	JOURNEYMAN	46.00	Highest	$117,886	$27,024	$144,910

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	$35,813,069	$35,719,544	$79,116,096	$93,525
2023	$36,527,960	$36,073,471	$78,642,165	$454,489
2022	$36,176,837	$35,675,232	$72,859,229	$501,605
2021	$34,569,574	$33,013,356	$71,183,231	$1,556,218
2020	$33,420,098	$33,420,098	$68,277,832	No data
2019	$34,598,685	$34,653,826	$66,969,727	$-55,141
2018	$33,723,329	$34,005,651	$64,657,465	$-282,322

WILD RICE ELECTRIC COOPERATIVE INC