MCKENZIE ELECTRIC COOPERATIVE INC

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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

1945

Legal Domicile

Principal Officer

MATT HANSON

Phone

7014449288

Tax Period

2024-01-01 to 2024-12-31

MCKENZIE ELECTRIC COOPERATIVE INC, founded in 1945, is a major nonprofit that reported $478.7M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

TO MAKE AVAILABLE AND TO SERVE ALL CONSUMERS WITHIN ITS BOUNDARIES WITH ELECTRIC ENERGY. TO ENSURE AN ADEQUATE SOURCE OF CENTRAL STATION POWER AND WORK TO MAKE THAT ENERGY AS RELIABLE AS POSSIBLE AT THE LOWEST COST POSSIBLE.

Program Service Accomplishments

Program 1

THE COOPERATIVE DELIVERS ELECTRIC ENERGY 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $447,225,716

Investment Income $9,112,295

Other Revenue $22,388,565

TOTAL REVENUE $478,726,576

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,531,899

Fundraising Expenses $0

Other Expenses $416,879,935

TOTAL EXPENSES $478,726,576

Year-over-Year Comparison

	2024	2023	Change
Revenue	$478,726,576	$441,740,325	+0.1%
Expenses	$478,726,576	$441,740,325	+0.1%
Net Income	$0	$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

$637,007

Total Directors

$269,075

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS LINK	PRESIDENT	5.80	Officer Director	$30,725	$0	$30,725
RAY TESCHER	VICE PRESIDENT	7.40	Officer Director	$31,525	$0	$31,525
TIM WASEM	SECRETARY/TREASURER	6.30	Officer Director	$31,125	$0	$31,125
TRAVIS THOMPSON	DIRECTOR-AT-LARGE	5.90	Director	$30,325	$0	$30,325
CLAYTON MONSEN	DIRECTOR	5.40	Director	$28,275	$0	$28,275
STEPHEN KERSHISNIK	DIRECTOR	4.60	Director	$26,575	$0	$26,575
KEN SANFORD	DIRECTOR	6.00	Director	$31,875	$0	$31,875
CAMERON WAHLSTROM	DIRECTOR	5.20	Director	$29,175	$0	$29,175
RICHARD JORE	DIRECTOR	5.20	Director	$29,475	$0	$29,475
MATT HANSON	CEO	57.30	Officer	$283,665	$37,945	$321,610
JAMIE CROSS	DIRECTOR OF ACCOUNTING AND FINANCE	45.80	Officer	$179,048	$42,974	$222,022
KARL AAKER	DIRECTOR OF ENGINEERING SE	42.50	Highest	$180,378	$36,809	$217,187
ZANE FRICK	DIRECTOR OF OPERATIONS	45.00	Highest	$177,111	$33,085	$210,196
JAMES HANSEN	CONSTRUCTION MANAGER	42.20	Highest	$146,333	$31,844	$178,177
RYAN ZASTOUPIL	JOURNEYMAN LINEMAN	48.40	Highest	$149,646	$8,836	$158,482
AUSTIN FIECHTNER	SUBSTATION TECHNICIAN FOREMAN	49.50	Highest	$159,470	$17,988	$177,458

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	$478,726,576	$478,726,576	$646,763,826	No data
2023	$441,740,325	$441,740,325	$580,205,485	No data
2022	$401,082,882	$401,082,882	$520,136,868	No data
2021	$371,972,199	$371,972,199	$422,129,232	No data
2020	$347,685,156	$347,685,156	$399,130,163	No data
2019	$335,917,669	$335,917,669	$393,514,370	No data
2018	$309,175,400	$309,175,400	$354,105,277	No data