NORTH CENTRAL ELECTRIC COOPERATIVE INC (EIN 450173086) - 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

1941

Legal Domicile

Principal Officer

STUART ROTHE

Phone

7012282202

Tax Period

2023-01-01 to 2023-12-31

NORTH CENTRAL ELECTRIC COOPERATIVE INC, founded in 1941, is a mid-sized nonprofit that reported $27.4M in total revenue in fiscal year 2023.

Mission

THE EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROVIDE ELECTRICITY TO MEMBERS.

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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 $25,720,816

Investment Income $186,124

Other Revenue $1,496,296

TOTAL REVENUE $27,403,236

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,273,819

Fundraising Expenses $0

Other Expenses $20,151,740

TOTAL EXPENSES $27,401,013

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,403,236	$27,399,893	+0.0%
Expenses	$27,401,013	$27,399,893	+0.0%
Net Income	$2,223	$0	N/A

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

$550,934

Total Directors

$100,194

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSE FAHNESTOCK	VICE PRESIDENT	10.00	Officer Director	$13,016	$0	$13,016
STUART ROTHE	PRESIDENT	3.00	Officer Director	$11,966	$0	$11,966
LORI M KITTLESON	SECRETARY/TREASURER	4.00	Officer Director	$12,166	$0	$12,166
DEVIN TOLSTAD	SECRETARY/TREASURER ASSIST	3.00	Officer Director	$8,066	$0	$8,066
NORMAN BUYNAK	DIRECTOR	3.00	Director	$10,266	$0	$10,266
JOEL BRANDVOLD	DIRECTOR	3.00	Director	$13,366	$0	$13,366
R JAY PAUL	DIRECTOR	3.00	Director	$7,666	$0	$7,666
JOHN GUNNING	DIRECTOR	3.00	Director	$15,066	$0	$15,066
JEAN R BRANDT	DIRECTOR	3.00	Director	$8,616	$0	$8,616
JONATHAN BEYER	GENERAL MANAGER	50.00	Officer	$221,413	$96,278	$317,691
SARAH DAWSON	BUSINESS MANAGER	40.00	Officer	$134,502	$53,527	$188,029
PETE ERICKSON	MEMBER SERVICE MANAGER	40.00	Highest	$130,380	$26,918	$157,298
TYLER LEE	ENGINEERING & OPERATIONS M	40.00	Highest	$139,552	$51,863	$191,415
TYSON BRANDT	LINE CREW FOREMAN	40.00	Highest	$113,747	$35,318	$149,065
BRODY MOUM	JOURNEYMAN LINEMAN	40.00	Highest	$112,766	$24,032	$136,798
TRENTON MCCLOUD	JOURNEYMAN LINEMAN	40.00	Highest	$110,118	$20,734	$130,852

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	$27,403,236	$27,401,013	$90,823,812	$2,223
2022	$27,399,893	$27,399,893	$92,151,015	No data
2021	$24,381,675	$24,381,675	$91,530,446	No data
2020	$24,657,006	$24,657,006	$88,295,019	No data
2019	$29,472,273	$29,609,607	$87,920,042	$-137,334
2018	$26,329,052	$26,326,158	$78,403,302	$2,894

NORTH CENTRAL ELECTRIC COOPERATIVE INC