WELLMAN COOPERATIVE TELEPHONE ASSO… - Form 990 Financial Data

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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

1952

Legal Domicile

Phone

3196466075

Tax Period

2023-01-01 to 2023-12-31

WELLMAN COOPERATIVE TELEPHONE ASSOCIATION, founded in 1952, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2023.

Mission

TO PROVIDE HIGH QUALITY, RELIABLE TELECOMMUNICATIONS sERVICES TO ITS MEMBERS.

Program Service Accomplishments

Program 1

THE COOPERATIVE PROVIDES QUALITY SERVICES TO ITS MEMBER SUBSCRIBERS WE HAVE BUILT OUR ENTIRE SERVICE AREA WITH FIBER TO PROVIDE HIGH SPEED INTERNET, VIDEO, LOCAL EXCHANGE SERVICES AND TOLL SERVICES. WE PROVIDE EQUIPMENT FOR SALE OR LEASE AND INSTALLATION AND MAINTENANCE OF CUSTOMER PREMISE WIRING AND OTHER MISCELLANEOUS SERVICES. WE ALSO PROVIDE TRANSPORT FROM OUR TOWERS.

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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 $2,888,976

Investment Income $49,816

Other Revenue $142,069

TOTAL REVENUE $3,080,861

Expense Breakdown

Grants Paid $9,812

Salaries & Benefits $479,996

Fundraising Expenses $0

Program Expenses $0

Other Expenses $2,077,363

TOTAL EXPENSES $3,001,699

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,080,861	$3,079,623	+0.0%
Expenses	$3,001,699	$3,031,044	0.0%
Net Income	$79,162	$48,579	+0.6%

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

$180,189

Total Directors

$19,305

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	PRESIDENT	0.5	Officer Director	$2,700	$0	$2,700
N/A	DIRECTOR	0.5	Director	$2,805	$0	$2,805
N/A	DIRECTOR	0.5	Director	$2,550	$0	$2,550
N/A	DIRECTOR	0.5	Director	$3,060	$0	$3,060
N/A	DIRECTOR	0.5	Director	$2,970	$0	$2,970
N/A	DIRECTOR	0.5	Director	$2,040	$0	$2,040
N/A	DIRECTOR	0.5	Director	$3,180	$0	$3,180
N/A	COO	45.0	Officer	$135,109	$42,380	$177,489

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	$3,080,861	$3,001,699	$10,040,834	$79,162
2022	$3,079,623	$3,031,044	$10,136,437	$48,579
2021	$2,996,483	$2,820,338	$7,702,432	$176,145
2020	$2,797,659	$2,777,110	$7,588,845	$20,549
2019	$2,637,347	$2,626,733	$7,531,860	$10,614
2018	$2,779,375	$2,761,089	$7,765,121	$18,286

WELLMAN COOPERATIVE TELEPHONE ASSOCIATION