HARRISON COUNTY RURAL ELECTRIC COOPERATIVE (EIN 420297955) - 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

SHADON BLUM

Phone

7126472727

Tax Period

2024-01-01 to 2024-12-31

HARRISON COUNTY RURAL ELECTRIC COOPERATIVE, founded in 1936, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $15.1M in total revenue in fiscal year 2024. Expenses of $14.4M left a modest 5% surplus.

Mission

TO PROVIDE ELECTRIC AND RELATED SERVICES TO RURAL COMMUNITIES.

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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 $14,942,698

Investment Income $178,563

Other Revenue $-31,008

TOTAL REVENUE $15,090,253

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,834,987

Fundraising Expenses $0

Other Expenses $10,965,884

TOTAL EXPENSES $14,353,580

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,090,253	$15,279,715	0.0%
Expenses	$14,353,580	$14,510,892	0.0%
Net Income	$736,673	$768,823	0.0%

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

$547,392

Total Directors

$53,691

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS J BOTHWELL	PRESIDENT	7.00	Officer Director	$8,000	$0	$8,000
WILLIAM HUTCHESON	VICE PRESIDENT (UNTIL MAR 2024)	1.00	Officer Director	$750	$0	$750
DOUG PITT	DIRECTOR/VICE PRESIDENT	5.00	Officer Director	$5,000	$0	$5,000
BRENDA LUNDERGARD	SECRETARY	3.00	Officer Director	$7,250	$0	$7,250
KENT KERSTEN	TREASURER	4.00	Officer Director	$5,375	$0	$5,375
CURTIS LEE	DIRECTOR	4.00	Director	$7,750	$0	$7,750
RANDALL KOENIG	DIRECTOR	1.00	Director	$4,000	$0	$4,000
LARRY RAMSEY	DIRECTOR	7.00	Director	$5,125	$0	$5,125
BRUCE PAULEY	DIRECTOR (BEG APR 2024)	2.00	Officer Director	$6,566	$0	$6,566
CHARLES RANDY MITCHELL	DIRECTOR	3.00	Director	$3,875	$0	$3,875
F JOE FARLEY	CEO	40.00	Officer	$190,708	$27,367	$218,075
LORI D BARRY	CFO	44.00	Officer	$120,639	$23,927	$144,566
SHADON BLUM	DIRECTOR OF OPERATIONS/INTERIM CEO	44.00	Officer	$121,391	$30,419	$151,810
JIM ANDERSEN	FOREMAN	42.20	Highest	$106,413	$30,650	$137,063
JEREMY JOCHIMS	FOREMAN	41.50	Highest	$105,989	$23,384	$129,373
ROBERT WAKEHOUSE	SUB FOREMAN	41.70	Highest	$104,178	$28,075	$132,253
JACOLBY EHLERT	SUB FOREMAN	41.70	Highest	$104,064	$27,173	$131,237
TIM PLUMB	MEMBER SERVICE DIRECTOR	40.40	Highest	$103,812	$25,387	$129,199

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	$15,090,253	$14,353,580	$41,606,891	$736,673
2023	$15,279,715	$14,510,892	$41,480,144	$768,823
2022	$14,745,396	$14,017,294	$40,962,142	$728,102
2021	$13,659,429	$13,090,055	$37,015,918	$569,374
2020	$13,829,563	$13,829,563	$36,734,586	No data
2019	$14,236,178	$14,236,177	$33,922,891	$1
2018	$12,486,584	$12,484,767	$32,910,833	$1,817

HARRISON COUNTY RURAL ELECTRIC COOPERATIVE