BUTLER COUNTY RURAL ELECTRIC COOPERATIVE

EIN: 420163705

ALLISON, IA

Total Revenue
$34,257,753
Total Expenses
$32,637,366
Total Assets
$88,118,983
Net Assets
$38,521,777
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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
1936
Legal Domicile
IA
Principal Officer
CRAIG J CODNER
Phone
3192672726
Tax Period
2023-01-01 to 2023-12-31

BUTLER COUNTY RURAL ELECTRIC COOPERATIVE, founded in 1936, is a mid-sized nonprofit that reported $34.3M in total revenue in fiscal year 2023. Expenses of $32.6M left a modest 5% surplus.

Mission

PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $30,855,784
Investment Income $602,505
Other Revenue $2,799,464
TOTAL REVENUE $34,257,753

Expense Breakdown

Grants Paid $0
Salaries & Benefits $520,369
Fundraising Expenses $0
Other Expenses $29,783,295
TOTAL EXPENSES $32,637,366

Year-over-Year Comparison

2023 2022 Change
Revenue $34,257,753 $32,954,885 +0.0%
Expenses $32,637,366 $31,150,700 +0.0%
Net Income $1,620,387 $1,804,185 -0.1%
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

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Governance

Voting Members
9
Independent Members
9
Employees
40
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
7
$496,219
Total Directors
10
$61,200
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DUANE RIECKENBERG PRESIDENT 3.05
Officer Director
$9,000 $0 $9,000
GARY POPPE VICE PRESIDENT 3.16
Officer Director
$7,650 $0 $7,650
TIM SCHRAGE SECRETARY 2.46
Officer Director
$6,150 $0 $6,150
TROY FELDMAN TREASURER 2.52
Officer Director
$7,200 $0 $7,200
SHARE BRANDT ASSISTANT SECRETARY-TREASU 2.90
Officer Director
$7,050 $0 $7,050
GERALD SCHMITT DIRECTOR 2.43
Director
$6,600 $0 $6,600
STEVE BOEVERS DIRECTOR 3.16
Director
$5,400 $0 $5,400
ALLYN HARMS DIRECTOR 2.54
Director
$5,700 $0 $5,700
GRANT GREENZWEIG DIRECTOR 1.44
Director
$5,400 $0 $5,400
LELAND BOYD DIRECTOR 2.92
Director
$1,050 $0 $1,050
CRAIG CODNER CEO 40.00
Officer
$194,671 $95,830 $290,501
JANE BRADLEY RECORDING SECRETARY 40.00
Officer
$94,764 $73,904 $168,668
SANDRA MILLER HR/OFFICE MANAGER 40.00
Highest
$115,986 $82,539 $198,525
JOHN ENDELMAN OPERATIONS MANAGER 40.00
Highest
$109,604 $55,712 $165,316
LORI BEACH FINANCIAL ACCOUNTANT 40.00
Highest
$113,451 $40,746 $154,197
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 $34,257,753 $32,637,366 $88,118,983 $1,620,387
2022 $32,954,885 $31,150,700 $80,790,437 $1,804,185
2021 $31,307,954 $30,604,627 $77,135,438 $703,327
2020 $30,394,763 $29,834,817 $69,864,720 $559,946
2019 $30,660,925 $29,353,652 $65,647,152 $1,307,273
2018 $31,577,316 $30,136,675 $59,502,293 $1,440,641
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