CENTRAL IOWA POWER COOPERATIVE (EIN 420652127) - 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

1946

Legal Domicile

Principal Officer

ANDREW ST JOHN

Phone

3193668011

Tax Period

2023-01-01 to 2023-12-31

CENTRAL IOWA POWER COOPERATIVE, founded in 1946, is a major nonprofit that reported $217.8M in total revenue in fiscal year 2023. Expenses of $205.7M left a modest 6% surplus.

Mission

ELECTRIC GENERATION AND TRANSMISSION 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 $212,872,575

Investment Income $2,772,517

Other Revenue $2,202,782

TOTAL REVENUE $217,847,874

Expense Breakdown

Grants Paid $0

Salaries & Benefits $13,247,863

Fundraising Expenses $0

Program Expenses $205,745,005

Other Expenses $184,997,142

TOTAL EXPENSES $205,745,005

Year-over-Year Comparison

	2023	2022	Change
Revenue	$217,847,874	$219,280,606	0.0%
Expenses	$205,745,005	$216,888,805	-0.1%
Net Income	$12,102,869	$2,391,801	+4.1%

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

133

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

$2,157,224

Total Directors

$386,574

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL HEINEMAN	BOARD PRESIDENT	18.20	Officer Director	$50,220	$0	$50,220
DAN WESTPHAL	BOARD VICE PRESIDENT	9.60	Officer Director	$28,511	$0	$28,511
GENE MANTERNACH	BOARD SECRETARY/TREASURER	12.00	Officer Director	$29,368	$0	$29,368
DUANE VER PLOEG	BOARD ASST SECRETARY/TREAS	7.80	Officer Director	$24,310	$0	$24,310
GARY KESTER	BOARD DIRECTOR	13.60	Director	$42,038	$0	$42,038
KIRK HILAND	BOARD DIRECTOR	12.50	Director	$35,117	$0	$35,117
GARY MCKENNA	BOARD DIRECTOR	10.70	Director	$32,265	$0	$32,265
CRAIG STALLMAN	BOARD DIRECTOR	10.25	Director	$29,060	$0	$29,060
ARDEN GREINER	BOARD DIRECTOR	10.50	Director	$27,720	$0	$27,720
RANDY ROUSE	BOARD DIRECTOR	6.90	Director	$22,320	$0	$22,320
DALE WALKUP	BOARD DIRECTOR	7.50	Director	$21,650	$0	$21,650
TIM LARSEN	PART-YEAR BOARD DIRECTOR	7.30	Director	$21,245	$0	$21,245
STEVE BIRELINE	BOARD DIRECTOR	6.20	Director	$15,550	$0	$15,550
DUANE ARMSTEAD	PART-YEAR BOARD DIRECTOR	1.60	Director	$7,200	$0	$7,200
ANDREW ST JOHN	PART-YEAR CEO & CFO	40.00	Officer	$333,563	$39,856	$373,419
WILLIAM CHERRIER	PART-YEAR CEO	40.00	Officer	$265,733	$24,223	$289,956
PAUL HOFMAN	VP INFORMATION TECHNOLOGY	40.00	Officer	$245,699	$40,567	$286,266
DANIEL BURNS	VP UTILITY OPERATIONS	40.00	Officer	$241,085	$52,742	$293,827
KENDRA GRAVES	VP PORTFOLIO STRATEGY & PL	40.00	Officer	$228,916	$42,813	$271,729
MEMOREA SCHRADER	VP HUMAN RESOURCES	40.00	Officer	$195,446	$22,833	$218,279
KERRY KOONCE	VP COMMUNICATIONS	40.00	Officer	$184,630	$33,702	$218,332
DAVID NICHOLSON	PART-YEAR CFO	40.00	Officer	$65,902	$7,105	$73,007
TERRY FETT	ENGINEERING & OPERATIONS D	40.00	Highest	$165,133	$38,796	$203,929
MICHELLE SOYER	FINANCE DIRECTOR	40.00	Highest	$162,141	$37,964	$200,105
SAMUEL STINEMAN	GENERATION ASSETS DIRECTOR	40.00	Highest	$158,153	$35,879	$194,032
CHAD MILLER	IT SECURITY & COMPLIANCE O	40.00	Highest	$151,962	$33,182	$185,144
REX BUTLER	ENVIRONMENTAL MANAGER	40.00	Highest	$144,979	$29,583	$174,562

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	$217,847,874	$205,745,005	$909,309,520	$12,102,869
2022	$219,280,606	$216,888,805	$890,992,042	$2,391,801
2021	$189,203,690	$199,425,740	$899,434,034	$-10,222,050
2020	$189,808,864	$181,170,871	$870,566,563	$8,637,993
2019	$191,715,419	$190,044,874	$800,491,864	$1,670,545
2018	$195,289,761	$208,864,856	$803,787,652	$-13,575,095

CENTRAL IOWA POWER COOPERATIVE