LINN COUNTY RURAL ELECTRIC COOPERATIVE ASSOCIATION (EIN 420381704) - 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

1938

Legal Domicile

Principal Officer

TERRY SULLIVAN

Phone

3193771587

Tax Period

2023-01-01 to 2023-12-31

LINN COUNTY RURAL ELECTRIC COOPERATIVE ASSOCIATION, founded in 1938, is a mid-sized nonprofit that reported $69.4M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $61.3M left a modest 12% 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $65,785,738

Investment Income $326,468

Other Revenue $3,297,886

TOTAL REVENUE $69,410,092

Expense Breakdown

Grants Paid $0

Salaries & Benefits $678,137

Fundraising Expenses $0

Other Expenses $59,599,062

TOTAL EXPENSES $61,277,199

Year-over-Year Comparison

	2023	2022	Change
Revenue	$69,410,092	$63,258,366	+0.1%
Expenses	$61,277,199	$59,830,655	+0.0%
Net Income	$8,132,893	$3,427,711	+1.4%

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

$657,077

Total Directors

$110,700

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARY SCHROPP	PRESIDENT	3.93	Officer Director	$29,640	$0	$29,640
RONALD O'NEIL	VICE PRESIDENT	5.97	Officer Director	$21,600	$0	$21,600
KENNETH SQUIRES	ASSISTANT SECRETARY	3.85	Officer Director	$16,800	$0	$16,800
LISA ROSE	TREASURER	2.39	Officer Director	$12,600	$0	$12,600
JEANNA SAGER	SECRETARY	2.56	Officer Director	$9,000	$0	$9,000
GARY SCHLOTTERBACK	DIRECTOR	2.38	Director	$4,800	$0	$4,800
ROGER KRUG	DIRECTOR	2.62	Director	$6,660	$0	$6,660
KIRK HILAND	DIRECTOR	2.71	Director	$9,600	$0	$9,600
TERRY SULLIVAN	GM/CEO	40.00	Officer	$268,033	$101,734	$369,767
JENNIFER FEDDERSEN	CFO	40.00	Officer	$135,785	$61,885	$197,670
KEVIN STUCKER	TECHNOLOGY MANAGER	40.00	Highest	$166,441	$57,997	$224,438
NICHOLAS HOLUB	LINEMAN	40.00	Highest	$137,384	$49,811	$187,195
TODD VAN ERSVELDE	LINEMAN	40.00	Highest	$128,503	$45,547	$174,050
NABIN KANDEL	ELECTRICAL ENGINEER	40.00	Highest	$138,915	$34,433	$173,348
DAN APPELHANS	LINE SUPERINTENDENT	40.00	Highest	$135,206	$40,316	$175,522

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	$69,410,092	$61,277,199	$208,132,445	$8,132,893
2022	$63,258,366	$59,830,655	$192,250,615	$3,427,711
2021	$59,329,522	$54,276,173	$185,789,992	$5,053,349
2020	$56,905,313	$52,217,802	$179,994,283	$4,687,511
2019	$54,377,849	$50,810,355	$170,740,395	$3,567,494
2018	$53,732,198	$50,789,406	$159,491,284	$2,942,792

LINN COUNTY RURAL ELECTRIC COOPERATIVE ASSOCIATION