EASTERN IOWA LIGHT & POWER COOPERATIVE (EIN 420228180) - 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

1935

Legal Domicile

Principal Officer

KIRK TREDE

Phone

8559383616

Tax Period

2024-01-01 to 2024-12-31

EASTERN IOWA LIGHT & POWER COOPERATIVE, founded in 1935, is a mid-sized nonprofit that reported $68.5M in total revenue in fiscal year 2024.

Mission

PROVISION OF ELECTRICITY TO MEMBERS ON THE COOPERATIVE BASIS

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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 $64,430,905

Investment Income $183,637

Other Revenue $3,916,364

TOTAL REVENUE $68,530,906

Expense Breakdown

Grants Paid $0

Salaries & Benefits $868,943

Fundraising Expenses $0

Other Expenses $62,680,048

TOTAL EXPENSES $66,925,908

Year-over-Year Comparison

	2024	2023	Change
Revenue	$68,530,906	$68,261,552	+0.0%
Expenses	$66,925,908	$66,436,506	+0.0%
Net Income	$1,604,998	$1,825,046	-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

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

$733,849

Total Directors

$217,844

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY WUNDERLICH	PRESIDENT	9.00	Officer Director	$20,632	$0	$20,632
KENNETH PURDY	VICE PRESIDENT	6.50	Officer Director	$14,821	$0	$14,821
KURT OLSON	SECRETARY	4.00	Officer Director	$16,632	$0	$16,632
MIKE BIXLER	TREASURER	5.50	Officer Director	$16,582	$0	$16,582
HENRY BENTLEY	ASST. SECRETARY	6.00	Officer Director	$14,082	$0	$14,082
JOEL CARSTENSEN	DIRECTOR	6.00	Director	$14,832	$0	$14,832
GLENN MCCULLOH	DIRECTOR - PART YEAR	7.00	Director	$8,407	$0	$8,407
GARY KESTER	DIRECTOR	15.00	Director	$8,432	$0	$8,432
MICHAEL MOES	DIRECTOR - PART YEAR	5.00	Director	$6,416	$0	$6,416
WILLIAM PETERSEN	DIRECTOR - PART YEAR	13.00	Director	$7,624	$0	$7,624
TOM HOTZ	DIRECTOR	7.00	Director	$15,232	$0	$15,232
ALLAN DUFFE	DIRECTOR	6.00	Director	$12,432	$0	$12,432
MICHAEL SHUGER	DIRECTOR	3.00	Director	$12,032	$0	$12,032
ROBERT SCHNEIDER JR	DIRECTOR	6.00	Director	$13,232	$0	$13,232
BRAD WEISS	DIRECTOR	6.00	Director	$19,232	$0	$19,232
GARY BRUNS	DIRECTOR	15.00	Director	$6,808	$0	$6,808
DENISE TIMMERMAN	DIRECTOR	10.00	Director	$5,208	$0	$5,208
AUBREY LEE CARTWRIGHT JR	DIRECTOR	10.00	Director	$5,208	$0	$5,208
KIRK TREDE	CEO	60.00	Officer	$304,390	$152,016	$456,406
DAVID ZORICH	DIVISION MANAGER OF ACCOUN	45.00	Officer	$150,078	$44,616	$194,694
MARK ELDER	DIVISION MANAGER OF OPERAT	45.00	Highest	$148,209	$49,936	$198,145
TIM IOSSI	MANAGER OF OPERATION TECHN	45.00	Highest	$141,218	$75,776	$216,994
DON ROTH	DIVISION MANAGER OF MEMBER	50.00	Highest	$166,062	$47,073	$213,135
KEVIN BOHNSACK	SUBSTATION FOREMAN	46.30	Highest	$133,757	$67,679	$201,436
BRIAN SCHOER	SENIOR PROJECT CONSULTANT	45.00	Highest	$154,682	$50,199	$204,881

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	$68,530,906	$66,925,908	$211,574,058	$1,604,998
2023	$68,261,552	$66,436,506	$202,157,384	$1,825,046
2022	$66,377,154	$65,178,441	$192,486,456	$1,198,713
2021	$62,410,526	$60,741,288	$187,914,668	$1,669,238
2020	$62,597,618	$61,084,723	$183,737,287	$1,512,895
2019	$66,490,379	$64,631,749	$175,639,074	$1,858,630

EASTERN IOWA LIGHT & POWER COOPERATIVE