North Dakota Association of Rural Electric Cooperatives (EIN 450231058) - 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

1958

Legal Domicile

Principal Officer

Josh Kramer

Phone

7016636501

Tax Period

2024-01-01 to 2024-12-31

North Dakota Association of Rural Electric Cooperatives, founded in 1958, is a community nonprofit that reported $6.1M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

Helping member cooperatives enrich the lives of their members and communities.

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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 $3,316,737

Program Service Revenue $2,806,111

Investment Income $110,260

Other Revenue $-136,434

TOTAL REVENUE $6,096,674

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,594,573

Fundraising Expenses $0

Other Expenses $2,903,948

TOTAL EXPENSES $6,498,521

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,096,674	$5,508,370	+0.1%
Expenses	$6,498,521	$5,347,774	+0.2%
Net Income	$-401,847	$160,596	-3.5%

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

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

$485,216

Total Directors

$21,350

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Angela Carlson	President	3.00	Officer Director	$12,075	$0	$12,075
Randy Simon	Vice President	2.00	Officer Director	$1,050	$0	$1,050
Connie Bitz	Secretary	2.00	Officer Director	$1,225	$0	$1,225
Maxine Rognlien	Treasurer	3.00	Officer Director	$1,050	$0	$1,050
Lynn Jacobson	Director	5.00	Director	$1,750	$0	$1,750
Deon Vilhauer	Director	3.00	Director	$700	$0	$700
Tom Seymour	Director	2.00	Director	$700	$0	$700
Michele Schommer	Director	2.00	Director	$0	$0	$0
Carmen Essig	Director	2.50	Director	$0	$0	$0
Ken Sanford	Director	1.00	Director	$0	$0	$0
Rod Stockdill	Director	2.50	Director	$0	$0	$0
Robert Grant	Director	1.00	Director	$2,100	$0	$2,100
Chad Harrison	Director	1.00	Director	$0	$0	$0
David Brag	Director	1.00	Director	$0	$0	$0
Lori Kittleson	Director	6.00	Director	$0	$0	$0
Arnold Kainz	Director	2.00	Director	$0	$0	$0
Troy Presser	Director	1.25	Director	$0	$0	$0
Jean Brandt	Director	1.00	Director	$700	$0	$700
Les Windjue	Director	2.00	Director	$0	$0	$0
David Sigloh	Director	4.00	Director	$0	$0	$0
Dennis Schmierer	Director	3.00	Director	$0	$0	$0
Wade Harpestad	Director - Alternate (Nov)	1.00	Director	$0	$0	$0
Roger Kudrna	Director - Alternate (Jul)	0.50	Director	$0	$0	$0
David Charles	Director - Alternate (Apr)	0.10	Director	$0	$0	$0
Kalvin Hoff	Director - Alternate (Jul)	0.10	Director	$0	$0	$0
Josh Kramer	Executive VP & General Mgr	43.00	Officer	$245,915	$67,623	$313,538
Brenna Ohman	Finance Director	41.60	Officer	$142,109	$14,169	$156,278
Zac Smith	Communic & Gov Rel/General Counsel	42.60	Highest	$177,698	$21,338	$199,036
Christina Roemmich	Safety Services Director	40.90	Highest	$123,507	$35,286	$158,793
Pamela Clark-Stein	Education & Member Serv Director	43.20	Highest	$110,478	$24,082	$134,560
Cally Peterson	Editor	44.90	Highest	$107,798	$42,179	$149,977
Tavi Leier	HR Manager/Benefits Coordinator	41.00	Highest	$107,916	$17,872	$125,788

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	$6,096,674	$6,498,521	$14,522,805	$-401,847
2023	$5,508,370	$5,347,774	$14,878,389	$160,596
2022	$8,787,226	$4,553,910	$14,788,040	$4,233,316
2021	$4,395,007	$3,796,121	$8,007,431	$598,886
2020	$3,803,529	$3,763,046	$4,233,843	$40,483
2019	$3,847,251	$3,887,424	$3,259,269	$-40,173
2018	$3,853,708	$3,801,859	$3,912,050	$51,849

North Dakota Association of Rural Electric Cooperatives