FRANKLIN RURAL ELECTRIC COOPERATIVE (EIN 420260720) - 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

1936

Legal Domicile

Principal Officer

GARRETT THOMPSON

Phone

6414562557

Tax Period

2023-01-01 to 2023-12-31

FRANKLIN RURAL ELECTRIC COOPERATIVE, founded in 1936, is a community nonprofit that reported $9.1M in total revenue in fiscal year 2023. Expenses of $8.5M left a modest 7% surplus.

Mission

TO PROVIDE RELIABLE AND AFFORDABLE ELECTRICITY TO OUR 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,288,759

Investment Income $-16,480

Other Revenue $809,692

TOTAL REVENUE $9,081,971

Expense Breakdown

Grants Paid $0

Salaries & Benefits $364,669

Fundraising Expenses $0

Other Expenses $7,766,336

TOTAL EXPENSES $8,490,300

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,081,971	$8,423,010	+0.1%
Expenses	$8,490,300	$8,423,010	+0.0%
Net Income	$591,671	$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

$339,814

Total Directors

$51,580

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GORDON GREIMANN	PRESIDENT	2.80	Officer Director	$8,520	$0	$8,520
JOHN SNYDER	VICE PRESIDENT	0.60	Officer Director	$10,325	$0	$10,325
DAVID KENINGER	SECRETARY/TREASURER	1.60	Officer Director	$7,880	$0	$7,880
DARWIN VAN HORN	DIRECTOR	0.60	Director	$6,330	$0	$6,330
DON GREIMANN	DIRECTOR	2.80	Director	$7,555	$0	$7,555
MATTHEW ROELFS	DIRECTOR	2.00	Director	$3,890	$0	$3,890
DALE SCHAEFER	DIRECTOR	3.30	Director	$7,080	$0	$7,080
GARRETT THOMPSON	GENERAL MANAGER	40.00	Officer	$122,936	$27,030	$149,966
KAREN RINGLEB	OFFICE MANAGER/ACCOUNTANT	40.00	Officer	$83,537	$79,586	$163,123

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	$9,081,971	$8,490,300	$22,277,035	$591,671
2022	$8,423,010	$8,423,010	$20,255,882	No data
2021	$8,127,748	$8,127,750	$19,806,688	$-2
2020	$7,991,273	$7,824,589	$20,035,345	$166,684
2019	$8,174,045	$8,036,400	$17,217,194	$137,645
2018	$8,310,117	$8,177,429	$15,967,787	$132,688

FRANKLIN RURAL ELECTRIC COOPERATIVE