FARMERS EDUCATIONAL & COOPERATIVE UNION (EIN 460132880) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1915

Legal Domicile

Principal Officer

DOUG SOMBKE

Phone

6053526761

Tax Period

2023-01-01 to 2023-12-31

FARMERS EDUCATIONAL & COOPERATIVE UNION, founded in 1915, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2018. Net assets of $17.3M represent 134 months of operating reserves.

Mission

TO SUPPORT PROGRAMS AND ADVANCE EFFORTS THAT FURTHER ECONOMIC PROSPERITY AND CULTURAL VITALITY IN RURAL SOUTH DAKOTA.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $32,575

Program Service Revenue $330,162

Investment Income $2,284,205

Other Revenue $285,052

TOTAL REVENUE $2,931,994

Expense Breakdown

Grants Paid $0

Salaries & Benefits $886,391

Fundraising Expenses $532,940

Other Expenses $1,835,232

TOTAL EXPENSES $2,721,623

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,931,994	$2,683,652	+0.1%
Expenses	$2,721,623	$2,543,988	+0.1%
Net Income	$210,371	$139,664	+0.5%

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

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

$290,917

Total Directors

$290,917

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUG SOMBKE	PRESIDENT	40.00	Officer Director	$186,640	$0	$186,640
KARLA HOFHENKE	SECRETARY/TR	N/A	Officer Director	$104,277	$0	$104,277
DALLIS BASEL	DIRECTOR	N/A	Director	$0	$0	$0
LARRY BIRGEN	DIRECTOR	N/A	Director	$0	$0	$0
CHAD JOHNSON	DIRECTOR	N/A	Director	$0	$0	$0
SCOTT KOLOUSEK	DIRECTOR	N/A	Director	$0	$0	$0
OREN LESMEISTER	DIRECTOR	N/A	Director	$0	$0	$0
MIKE MILLER	DIRECTOR	N/A	Director	$0	$0	$0
DAVID REIS	DIRECTOR	N/A	Director	$0	$0	$0
WAYNE SOREN	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
GAIL TEMPLE	DIRECTOR	N/A	Director	$0	$0	$0

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	$2,931,994	$2,721,623	$45,173,162	$210,371
2022	$2,683,652	$2,543,988	$38,274,413	$139,664
2021	$2,255,510	$1,868,434	$35,004,659	$387,076
2020	$2,235,473	$1,594,064	$30,215,188	$641,409
2019	$1,726,961	$1,820,313	$27,737,106	$-93,352
2018	$1,549,356	$1,699,973	$21,500,234	$-150,617

FARMERS EDUCATIONAL & COOPERATIVE UNION