Howard Electric Cooperative (EIN 430330970) - 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

Amber Overfelt

Phone

6602483311

Tax Period

2024-01-01 to 2024-12-31

Howard Electric Cooperative, founded in 1936, is a community nonprofit that reported $9.5M in total revenue in fiscal year 2024. Expenses of $8.8M left a modest 7% surplus.

Mission

We are proud to provide safe, reliable, affordable and clean electric power to our member-owners.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $9,254,158

Investment Income $227,382

Other Revenue $-16,366

TOTAL REVENUE $9,465,174

Expense Breakdown

Grants Paid $0

Salaries & Benefits $448,318

Fundraising Expenses $0

Program Expenses $8,773,473

Other Expenses $8,093,629

TOTAL EXPENSES $8,773,473

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,465,174	$8,918,400	+0.1%
Expenses	$8,773,473	$8,082,805	+0.1%
Net Income	$691,701	$835,595	-0.2%

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

$419,665

Total Directors

$41,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Amber Overfelt	CEO/General Manager	50.00	Officer	$158,748	$70,617	$229,365
Emily Bange	CFO/HR	45.00	Officer	$131,957	$44,343	$176,300
Brandon Lightfoot	Operations Manager	45.00	Highest	$130,311	$45,568	$175,879
Chad Westhues	Construction Foreman	47.00	Highest	$124,349	$36,154	$160,503
Spencer Duran	Journeyman Lineman	48.00	Highest	$121,531	$28,778	$150,309
Kyle Allinson	Journeyman Lineman	47.00	Highest	$117,970	$31,642	$149,612
Dustin Drew	Journeyman Lineman	47.00	Highest	$117,608	$26,877	$144,485
Brenda Dougherty	Director/Custodian	6.00	Director	$9,200	$0	$9,200
David Kunze	Director	5.00	Director	$6,200	$0	$6,200
Omer Conrow	Director	6.00	Director	$6,000	$0	$6,000
Debbie Wiswall	Secretary	3.00	Officer Director	$4,200	$0	$4,200
Dale Kirby	President	5.00	Officer Director	$4,000	$0	$4,000
George Frink	Director	9.00	Director	$3,200	$0	$3,200
N/A	Director	5.00		$3,000	$0	$3,000
Lee Young	Vice President	4.00	Officer Director	$3,000	$0	$3,000
Oran Boulden	Treasurer	3.00	Officer Director	$2,800	$0	$2,800
Marvin Hilgedick	Director	2.00	Director	$2,400	$0	$2,400

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	$9,465,174	$8,773,473	$31,527,993	$691,701
2023	$8,918,400	$8,082,805	$31,290,611	$835,595
2022	$8,108,424	$7,957,567	$29,268,152	$150,857
2021	$7,815,337	$7,759,591	$28,589,659	$55,746
2020	$7,850,430	$7,674,042	$26,616,692	$176,388
2019	$7,966,057	$7,430,515	$25,895,000	$535,542
2018	$8,551,597	$7,177,763	$25,382,498	$1,373,834

Howard Electric Cooperative