VERENDRYE ELECTRIC COOPERATIVE INC (EIN 450206162) - 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

1939

Legal Domicile

Principal Officer

BRADLEY DOLL

Phone

7013382855

Tax Period

2023-01-01 to 2023-12-31

VERENDRYE ELECTRIC COOPERATIVE INC, founded in 1939, is a mid-sized nonprofit that reported $58.3M in total revenue in fiscal year 2023. Expenses of $56.5M left a modest 3% surplus.

Mission

TO PROVIDE QUALITY ELECTRIC SERVICE AT A COMPETITIVE COST STRENGTHEN THE AREA ECONOMY & LEAD IN IMPROVING THE REGIONS QUALITY OF LIFE THROUGH INNOVATION WHILE OPERATING WITHIN THE COOPERATIVE PRINCIPLES

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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 $57,327,421

Investment Income $960,481

Other Revenue $41,729

TOTAL REVENUE $58,329,631

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,868,682

Fundraising Expenses $0

Program Expenses $0

Other Expenses $40,650,762

TOTAL EXPENSES $56,474,366

Year-over-Year Comparison

	2023	2022	Change
Revenue	$58,329,631	$58,253,353	+0.0%
Expenses	$56,474,366	$56,817,444	0.0%
Net Income	$1,855,265	$1,435,909	+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

$686,036

Total Directors

$112,110

Key Employees

$480,485

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RANDY HAUCK	GENERAL MANAGER	50.00	Officer	$270,577	$121,324	$391,901
BRAD DOLL	ENGINEERING MANAGER	48.00	Key Emp	$179,781	$74,735	$254,516
CHRISTEL LASKOWSKI	BUSINESS MANAGER	48.00	Officer	$168,011	$59,072	$227,083
TIM KRUMWIEDE	OPERATIONS MANAGER	48.00	Key Emp	$152,671	$73,298	$225,969
DJ RANDOLPH	COMPUTER ENGINEER	48.00	Highest	$134,772	$70,481	$205,253
RICK ERICKSON	AREA FOREMAN	43.00	Highest	$126,330	$61,040	$187,370
TOM RAFFERTY	MEMBER SERVICE MANAGER	48.00	Highest	$128,530	$50,187	$178,717
CURT PETERSON	LINEMAN	46.00	Highest	$129,214	$52,675	$181,889
BRYAN SCHWAN	LINEMAN	47.00	Highest	$128,080	$59,208	$187,288
BLAINE BRUNER	PRESIDENT	4.00	Officer Director	$10,013	$0	$10,013
KAREN HENNESSY	VICE PRESIDENT	10.00	Officer Director	$23,813	$0	$23,813
SHAWN KAYLOR	SECRETARY TREASURER	4.00	Officer Director	$9,813	$0	$9,813
MAXINE ROGNLIEN	ASST SECRETARY TREASURER	9.00	Officer Director	$23,413	$0	$23,413
CLINT GJELLSTAD	DIRECTOR	5.00	Director	$12,413	$0	$12,413
JON HANSEN	DIRECTOR	4.00	Director	$9,213	$0	$9,213
KEN SCHILD	DIRECTOR	5.00	Director	$10,613	$0	$10,613
ROBERT WOLF	DIRECTOR	3.00	Director	$6,613	$0	$6,613
ROBERT HARGRAVE	DIRECTOR	3.00	Director	$6,206	$0	$6,206

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	$58,329,631	$56,474,366	$181,199,972	$1,855,265
2022	$58,253,353	$56,817,444	$170,733,986	$1,435,909
2021	$53,998,395	$51,976,938	$164,038,117	$2,021,457
2020	$54,692,036	$53,688,998	$151,675,990	$1,003,038

VERENDRYE ELECTRIC COOPERATIVE INC