Maquoketa Valley Rural Electric Cooperat (EIN 420394605) - 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

Jeremy Richert

Phone

3194623542

Tax Period

2023-01-01 to 2023-12-31

Maquoketa Valley Rural Electric Cooperat, founded in 1936, is a mid-sized nonprofit that reported $44.0M in total revenue in fiscal year 2023. Expenses of $41.3M left a modest 6% surplus.

Mission

Provide reliable, quality electric, internet and telephone services in a safe, respectful, environmentally responsible and cost-effective manner.

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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 $100,711

Program Service Revenue $42,108,718

Investment Income $131,730

Other Revenue $1,661,748

TOTAL REVENUE $44,002,907

Expense Breakdown

Grants Paid $16,971

Salaries & Benefits $1,451,710

Fundraising Expenses $0

Other Expenses $38,598,518

TOTAL EXPENSES $41,267,199

Year-over-Year Comparison

	2023	2022	Change
Revenue	$44,002,907	$41,739,956	+0.1%
Expenses	$41,267,199	$40,245,956	+0.0%
Net Income	$2,735,708	$1,494,000	+0.8%

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

$595,640

Total Directors

$83,910

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ron Thielen	President	6.50	Officer Director	$9,020	$0	$9,020
Thomas Stewart	Vice President	6.20	Officer Director	$11,880	$0	$11,880
Judy Gotto	Treasurer	5.00	Officer Director	$11,660	$0	$11,660
Eugene Manternach	Secretary	4.00	Officer Director	$6,800	$0	$6,800
Charles McCullough	Assistant Secretary	4.40	Officer Director	$10,340	$0	$10,340
Larry Swanson	Director	8.00	Director	$10,780	$0	$10,780
Jan Null - Left 092023	Director	4.00	Director	$4,510	$0	$4,510
Billie Zumbach	Director	4.40	Director	$10,560	$0	$10,560
Charlie Peters	Director	4.00	Director	$8,360	$0	$8,360
Jeremy Richert	CEO/Executive Vice President	55.00	Officer	$243,601	$92,461	$336,062
Kelly Gibbs	Chief Financial Officer	50.00	Officer	$156,868	$53,010	$209,878
Dan Schulte	Director of Operations	50.00	Highest	$146,623	$87,057	$233,680
Brent Wegmann	Director of IT	50.00	Highest	$149,975	$57,999	$207,974
Dean Koopmann	Director of Tech Services	50.00	Highest	$127,945	$77,481	$205,426
Tony Sheridan	Lead Lineman - Foreman	44.20	Highest	$131,407	$35,797	$167,204
Travis Manders	Lead Lineman - Foreman	44.10	Highest	$133,159	$19,567	$152,726

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$44,002,907	$41,267,199	$163,642,141	$2,735,708
2022	$41,739,956	$40,245,956	$152,454,363	$1,494,000
2021	$38,262,856	$36,772,855	$145,482,750	$1,490,001
2020	$40,324,827	$38,084,827	$138,137,310	$2,240,000
2019	$39,094,928	$37,744,928	$130,015,693	$1,350,000
2018	$35,515,341	$34,849,342	$117,958,539	$665,999

Maquoketa Valley Rural Electric Cooperat