GRAND MOUND COOPERATIVE TELEPHONE … - 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

1947

Legal Domicile

Principal Officer

TRAVIS BALLOU

Phone

5638473000

Tax Period

2023-01-01 to 2023-12-31

GRAND MOUND COOPERATIVE TELEPHONE ASSOCIATION, founded in 1947, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2023. Expenses of $2.2M left a modest 15% surplus.

Mission

TO PROVIDE THE TELECOMMUNICATIONS NEEDS OF OUR COOPERATIVE MEMBERS WITH LEADING EDGE TECHNOLOGY, SERVICES AND VALUE.

Program Service Accomplishments

Program 1

WE PROVIDE RESIDENTIAL AND BUSINESS SERVICES THAT INCLUDE HIGH SPEED INTERNET, VOICE SERVICE AND VIDEO SERVICE TO OVER 1,800 CUSTOMERS IN THE AREA'S OF CLINTON, DEWITT AND GRAND MOUND.

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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 $2,552,097

Investment Income $61,629

Other Revenue $14,433

TOTAL REVENUE $2,628,159

Expense Breakdown

Grants Paid $0

Salaries & Benefits $109,510

Fundraising Expenses $0

Other Expenses $1,874,470

TOTAL EXPENSES $2,239,604

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,628,159	$2,486,757	+0.1%
Expenses	$2,239,604	$2,638,706	-0.2%
Net Income	$388,555	$-151,949	-3.6%

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

$103,385

Total Directors

$10,875

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HARRY SLAYMAKER	PRESIDENT	1.00	Officer Director	$1,750	$0	$1,750
DAVID SCHNACK	VICE PRESIDENT	1.00	Officer Director	$1,500	$0	$1,500
GREG ADAMS	SECRETARY/TREASURER	1.00	Officer Director	$1,500	$0	$1,500
KURT OLSON	DIRECTOR	1.00	Director	$1,500	$0	$1,500
KURT CROSTHWAITE	DIRECTOR	1.00	Director	$1,500	$0	$1,500
ASHLEY SMITH	DIRECTOR	1.00	Director	$1,500	$0	$1,500
TOM MICHOSKI	DIRECTOR	1.00	Director	$1,625	$0	$1,625
TERRI BUMANN	OFFICE MANAGER/CFO	40.00	Officer	$79,450	$19,185	$98,635

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	$2,628,159	$2,239,604	$6,976,098	$388,555
2022	$2,486,757	$2,638,706	$6,498,449	$-151,949
2021	$2,296,344	$2,450,100	$6,056,260	$-153,756
2020	$2,252,550	$2,258,469	$5,664,781	$-5,919
2019	$2,030,175	$2,096,053	$4,493,938	$-65,878
2018	$1,743,684	$1,562,656	$4,383,051	$181,028

GRAND MOUND COOPERATIVE TELEPHONE ASSOCIATION