CODINGTON-CLARK ELECTRIC COOPERATI… - Form 990 Financial Data

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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

1947

Legal Domicile

Principal Officer

DAVID EIDE

Phone

6058865848

Tax Period

2024-01-01 to 2024-12-31

CODINGTON-CLARK ELECTRIC COOPERATIVE, founded in 1947, is a mid-sized nonprofit that reported $16.4M in total revenue in fiscal year 2024.

Mission

OUR PURPOSE IS TO PROVIDE ELECTRIC ENERGY TO THE MEMBERSHIP. WE WILL: PROVIDE EXEMPLARY PERSONAL SERVICE; PRUDENTLY MANAGE REVENUE AND EXPENSES; OPERATE AND MAINTAIN SAFE AND RELIABLE DISTRIBUTION FACILITIES; PROVIDE REASONABLY PRICED ELECTRIC ENERGY; ENHANCE COMMUNITY MEMBER RELATIONSHIPS; MAINTAIN A SAFE AND GRATIFYING WORK ENVIRONMENT FOR EMPLOYEES; AND EMBRACE CHANGE THAT BENEFITS THE MEMBERSHIP.

Program Service Accomplishments

Program 1

PROVIDED ELECTRIC SERVICE TO APROXIMATELY 2,550 MEMBERS. ADDED, RETIRED OR REPLACED APPROXIMATELY 42 MILES OF UNDERGROUND AND 38 MILES OF OVERHEAD LINE.

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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 $16,365,463

Investment Income $92,306

Other Revenue $-24,855

TOTAL REVENUE $16,432,914

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,007,890

Fundraising Expenses $0

Other Expenses $13,123,053

TOTAL EXPENSES $16,432,914

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,432,914	$15,232,648	+0.1%
Expenses	$16,432,914	$15,232,648	+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

$293,540

Total Directors

$40,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RUSSELL HURLBERT	DIRECTOR	10.00	Director	$6,900	$0	$6,900
MICHAEL MELAND	DIRECTOR	10.00	Director	$5,700	$0	$5,700
BENJAMIN FLEMING	DIRECTOR	10.00	Director	$4,900	$0	$4,900
DANIEL THYEN	VICE PRESIDENT	10.00	Officer Director	$4,700	$0	$4,700
ROY GJERDE	SECRETARY	10.00	Officer Director	$4,600	$0	$4,600
ALFRED SCHLEUSNER	PRESIDENT	10.00	Officer Director	$4,000	$0	$4,000
DAVID WARKENTHIEN	DIRECTOR	10.00	Director	$3,800	$0	$3,800
JOHN RIDER	TREASURER	10.00	Officer Director	$3,100	$0	$3,100
RUSSELL FOSTER	DIRECTOR	10.00	Director	$2,800	$0	$2,800
DAVID EIDE	GENERAL MANAGER	45.00	Officer	$169,904	$107,236	$277,140
JARED TERHARK	DISTRIBUTION SYSTEM MANAGER	45.00	Highest	$118,441	$44,996	$163,437
JAROD SUTTEN	MEMBER SERVICES MANAGER	45.00	Highest	$110,639	$45,673	$156,312
JAMES HATTON	CREW LEADER	45.00	Highest	$101,782	$37,289	$139,071

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	$16,432,914	$16,432,914	$61,679,042	No data
2023	$15,232,648	$15,232,648	$57,707,202	No data
2022	$14,370,109	$14,370,109	$53,681,940	No data
2021	$12,818,629	$12,818,629	$49,279,683	No data
2020	$13,067,051	$13,067,051	$46,975,549	No data

CODINGTON-CLARK ELECTRIC COOPERATIVE