NORTHERN ELECTRIC COOPERATIVE (EIN 460151015) - 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

1941

Legal Domicile

Principal Officer

CHARLENE HAGER

Phone

6052250310

Tax Period

2024-01-01 to 2024-12-31

NORTHERN ELECTRIC COOPERATIVE, founded in 1941, is a mid-sized nonprofit that reported $31.4M in total revenue in fiscal year 2018.

Mission

PROVIDE ELECTRICITY TO RURAL AREAS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $31,027,637

Investment Income $286,972

Other Revenue $40,196

TOTAL REVENUE $31,354,805

Expense Breakdown

Grants Paid $1,000

Salaries & Benefits $4,456,854

Fundraising Expenses $0

Other Expenses $24,958,239

TOTAL EXPENSES $31,354,805

Year-over-Year Comparison

	2024	2023	Change
Revenue	$31,354,805	$30,345,133	+0.0%
Expenses	$31,354,805	$30,345,133	+0.0%
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

$460,629

Total Directors

$77,288

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NOLAN WIPF	PRESIDENT	5.00	Officer Director	$11,100	$32	$11,132
RONALD KAAZ	SECRETARY UNTIL 06/2024	5.00	Officer Director	$3,750	$16	$3,766
JOSH LARSON	TREASURER	5.00	Officer Director	$9,050	$32	$9,082
FRAN ESSER	DIRECTOR UNTIL 06/2024	5.00	Director	$3,150	$16	$3,166
TODD HETTICH	VICE PRESIDENT	5.00	Officer Director	$13,600	$32	$13,632
KIRK SCHAUNAMAN	DIRECTOR	5.00	Director	$7,150	$32	$7,182
MIKE TRAXINGER	DIRECTOR	5.00	Director	$6,300	$32	$6,332
WILLIAM HANSEN	DIRECTOR	5.00	Director	$9,300	$32	$9,332
SCOTT SPERRY	DIRECTOR/SEC FROM 06/2024	5.00	Officer Director	$7,400	$32	$7,432
THOMAS LAMBERT	DIRECTOR FROM 06/2024	5.00	Director	$3,200	$16	$3,216
BRUCE SCHUMACHER JR	DIRECTOR FROM 06/2024	5.00	Director	$3,000	$16	$3,016
CHARLENE HAGER	CEO	40.00	Officer	$171,702	$112,754	$284,456
LORISA RUDOLPH	CFO	40.00	Officer	$93,270	$37,859	$131,129
DEREK GORECKI	IT MANAGER	40.00	Highest	$131,646	$60,620	$192,266
RUSSEL ULMER	MEMBER SERVICES MANAGER	40.00	Highest	$126,840	$49,902	$176,742
JEROME WEBER	OPERATIONS MANAGER	40.00	Highest	$126,481	$62,383	$188,864
MARTIN NEWMAN	LINE FOREMAN	40.00	Highest	$115,030	$35,512	$150,542
BENJAMIN PETERSON	LINE FOREMAN	40.00	Highest	$110,900	$56,799	$167,699

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	$31,354,805	$31,354,805	$117,373,910	No data
2023	$30,345,133	$30,345,133	$105,622,160	No data
2022	$30,719,297	$30,719,297	$102,934,965	No data
2021	$30,596,748	$30,596,748	$94,862,392	No data
2020	$29,815,677	$29,815,677	$88,951,614	No data
2019	$29,671,593	$29,671,593	$84,715,780	No data
2018	$31,354,924	$31,354,924	$79,823,652	No data

NORTHERN ELECTRIC COOPERATIVE