Macon Electric Cooperative

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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

1938

Legal Domicile

Principal Officer

Tim Korman

Phone

6603853157

Tax Period

2025-01-01 to 2025-12-31

Macon Electric Cooperative, founded in 1938, is a mid-sized nonprofit that reported $33.9M in total revenue in fiscal year 2025. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $32.3M left a modest 5% surplus.

Mission

At Macon Electric Cooperative, we are dedicated to providing our member-owners with quality and reliable electric service at the lowest possible cost. We also strive to provide services to improve the quality of life throughout the communities we serve.

Program Service Accomplishments

Program 1

Expenses: $32,284,746 Revenue: $33,901,804

Providing electric service to the members of the 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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $33,775,052

Investment Income $126,752

Other Revenue $0

TOTAL REVENUE $33,901,804

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $554,824

Fundraising Expenses $0

Program Expenses $32,284,746

Other Expenses $30,874,487

TOTAL EXPENSES $32,284,746

Year-over-Year Comparison

	2025	2024	Change
Revenue	$33,901,804	$31,343,808	+0.1%
Expenses	$32,284,746	$30,824,696	+0.0%
Net Income	$1,617,058	$519,112	+2.1%

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

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

$518,155

Total Directors

$71,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Timothy Korman	General Manager/CEO	50.00	Officer	$199,115	$99,750	$298,865
Jamie Maupin	CFO	50.00	Officer	$143,361	$47,929	$191,290
Joshua Langhammer	Mgr of Operations	50.00	Highest	$143,202	$54,566	$197,768
Kenneth Fuller	Construction Foreman	46.00	Highest	$129,639	$47,507	$177,146
Trevor Bax	Dist System Foreman	47.00	Highest	$123,890	$47,988	$171,878
Rick Farmer	Lead Lineman	46.00	Highest	$119,707	$55,091	$174,798
Jamison Hogsett	Dist System Foreman	47.00	Highest	$119,288	$31,377	$150,665
Richard L Kemp	Secretary-Treasurer	4.00	Officer Director	$14,250	$0	$14,250
Chris Herman	Director	2.00	Director	$9,000	$0	$9,000
William Lear	Director	2.00	Director	$7,250	$0	$7,250
Daniel Smithson	Vice President	2.00	Officer Director	$7,000	$0	$7,000
Ben Williams	Director	3.00	Director	$7,000	$0	$7,000
James Collins	President	3.00	Officer Director	$6,750	$0	$6,750
Mary Almond	Director	2.00	Director	$6,750	$0	$6,750
Alvin Weimer	Director	2.00	Director	$6,750	$0	$6,750
Robert Hancock	Director	2.00	Director	$6,750	$0	$6,750

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	$33,901,804	$32,284,746	$87,730,659	$1,617,058
2024	No data	No data	No data	No data
2023	$29,490,903	$27,823,440	$82,376,090	$1,667,463
2022	$26,633,057	$27,061,304	$75,542,614	$-428,247
2021	$26,527,886	$26,277,764	$74,039,174	$250,122
2020	$26,341,330	$25,527,698	$74,488,932	$813,632
2019	$26,822,211	$25,575,994	$74,352,384	$1,246,217
2018	$26,306,281	$26,439,588	$66,953,333	$-133,307