Farmers Electric Cooperative Inc (EIN 440241597) - 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

1938

Legal Domicile

Principal Officer

Don Smith

Phone

6606464281

Tax Period

2024-01-01 to 2024-12-31

Farmers Electric Cooperative Inc, founded in 1938, is a mid-sized nonprofit that reported $33.4M in total revenue in fiscal year 2024. Expenses of $32.3M left a modest 3% surplus.

Mission

To safely provide its members with reliable electricity

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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 $33,118,368

Investment Income $279,721

Other Revenue $0

TOTAL REVENUE $33,398,089

Expense Breakdown

Grants Paid $0

Salaries & Benefits $597,079

Fundraising Expenses $0

Program Expenses $32,328,928

Other Expenses $30,289,701

TOTAL EXPENSES $32,328,928

Year-over-Year Comparison

	2024	2023	Change
Revenue	$33,398,089	$33,398,741	0.0%
Expenses	$32,328,928	$31,938,367	+0.0%
Net Income	$1,069,161	$1,460,374	-0.3%

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

$560,579

Total Directors

$101,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Donald Smith	General Manager	50.00	Officer	$238,046	$91,575	$329,621
Troy Hermanson	Operations Manager	50.00	Highest	$144,083	$55,768	$199,851
Aaron Wagers	Lead Lineman	49.00	Highest	$141,364	$79,408	$220,772
Brett Arthur	Substation Serviceman	46.00	Highest	$131,920	$53,671	$185,591
Jason Howe	Substation Serviceman	46.00	Highest	$130,989	$46,226	$177,215
Gregory Jones	Substation Serviceman	46.00	Highest	$128,886	$50,459	$179,345
Lacey Capps	CFO	50.00	Officer	$125,781	$40,177	$165,958
Glen Waters	President	7.00	Officer Director	$17,000	$0	$17,000
Stanley Switzer	Director	5.00	Director	$16,500	$0	$16,500
James Burk	Director	11.00	Director	$16,000	$0	$16,000
Larry Muck	Vice-President	8.00	Officer Director	$15,500	$0	$15,500
Randy Railsback	Treasurer	4.00	Officer Director	$14,500	$0	$14,500
Toni Cox	Secretary	3.00	Officer Director	$10,000	$0	$10,000
Warren Hoyt	Treasurer	4.00	Officer Director	$8,000	$0	$8,000
Sherry Jones	Director	4.00	Director	$4,000	$0	$4,000

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	$33,398,089	$32,328,928	$112,965,965	$1,069,161
2023	$33,398,741	$31,938,367	$111,349,834	$1,460,374
2022	$34,019,457	$30,882,136	$112,966,033	$3,137,321
2021	$31,632,453	$29,638,996	$108,623,501	$1,993,457
2020	$30,922,312	$29,318,433	$105,014,049	$1,603,879
2019	$32,024,632	$29,747,524	$100,814,950	$2,277,108
2018	$32,523,046	$29,906,653	$99,493,426	$2,616,393

Farmers Electric Cooperative Inc