LAKE REGION ELECTRIC ASSOCIATION INC (EIN 460156581) - 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

JEREMY T LINDEMANN

Phone

6053453379

Tax Period

2024-01-01 to 2024-12-31

LAKE REGION ELECTRIC ASSOCIATION INC, founded in 1941, is a mid-sized nonprofit that reported $21.0M in total revenue in fiscal year 2018. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $19.0M left a modest 10% surplus.

Mission

PROVIDE THE HIGHEST QUALITY SERVICES AND PRODUCTS WHILE MAINTAINING COMPETITIVE RATES.

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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 $21,082,668

Investment Income $129,493

Other Revenue $-58,637

TOTAL REVENUE $21,153,524

Expense Breakdown

Grants Paid $13,848

Salaries & Benefits $2,704,385

Fundraising Expenses $0

Other Expenses $17,028,716

TOTAL EXPENSES $20,960,091

Year-over-Year Comparison

	2024	2023	Change
Revenue	$21,153,524	$19,878,233	+0.1%
Expenses	$20,960,091	$19,703,998	+0.1%
Net Income	$193,433	$174,235	+0.1%

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

$281,723

Total Directors

$51,358

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KERMIT PEARSON	PRESIDENT	10.00	Officer Director	$4,500	$0	$4,500
RODNEY TOBIN	VICE PRESIDENT	8.00	Officer Director	$9,958	$0	$9,958
THOMAS LEE STEINER	SECRETARY	8.00	Officer Director	$8,100	$0	$8,100
ANDREA KILKER	TREASURER	8.00	Officer Director	$6,600	$0	$6,600
AMY KUECKER	DIRECTOR	8.00	Director	$7,200	$0	$7,200
MARK WISMER	DIRECTOR	8.00	Director	$6,600	$0	$6,600
CODY PASZEK	DIRECTOR	8.00	Director	$8,400	$0	$8,400
TIMOTHY MCINTYRE	GENERAL MANAGER/CEO - LEFT 9/2024	40.00	Officer	$149,525	$27,818	$177,343
JEREMY T LINDEMANN	GENERAL MANAGER/CEO - JOINED 9/2024	40.00	Officer	$47,688	$27,534	$75,222
JAMES GRIMES	MANAGER OF OPERATIONS	40.00	Highest	$113,506	$35,757	$149,263
BRETT KWASNIEWSKI	MANAGER OF MEMBER SERVICES	40.00	Highest	$109,160	$46,432	$155,592
DONNA SATTLER	DIRECTOR OF FINANCE/OFFICE MANAGER	40.00	Highest	$105,986	$101,913	$207,899
TIMOTHY GAIKOWSKI	MANAGER OF TECHNOLOGY SERVICES	40.00	Highest	$110,724	$59,962	$170,686

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	$21,153,524	$20,960,091	$53,701,411	$193,433
2023	$19,878,233	$19,703,998	$49,986,705	$174,235
2022	$19,790,370	$19,719,627	$46,911,496	$70,743
2021	$19,860,340	$19,706,183	$46,798,980	$154,157
2020	$17,807,086	$17,713,223	$46,193,920	$93,863
2019	$19,141,078	$18,935,695	$42,890,819	$205,383
2018	$21,034,517	$19,034,347	$40,164,127	$2,000,170

LAKE REGION ELECTRIC ASSOCIATION INC