WHETSTONE VALLEY ELECTRIC COOPERAT… - 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

1940

Legal Domicile

Principal Officer

DAVID K PAGE

Phone

6054325331

Tax Period

2025-01-01 to 2025-12-31

WHETSTONE VALLEY ELECTRIC COOPERATIVE, founded in 1940, is a mid-sized nonprofit that reported $13.3M in total revenue in fiscal year 2025.

Mission

TO ENHANCE THE QUALITY OF LIFE IN OUR COMMUNITY BY PROVIDING THE HIGHEST LEVEL OF SERVICE, QUALITY AND VALUE IN ELECTRICITY, DISTRIBUTION AND SERVICES.

Program Service Accomplishments

Program 1

PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,789 MEMBERS AND MAINTAINED 1,469 MILES OF 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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $13,203,919

Investment Income $34,888

Other Revenue $19,703

TOTAL REVENUE $13,258,510

Expense Breakdown

Grants Paid $24,029

Salaries & Benefits $2,690,100

Fundraising Expenses $0

Other Expenses $9,632,067

TOTAL EXPENSES $13,238,808

Year-over-Year Comparison

	2025	2024	Change
Revenue	$13,258,510	$12,566,732	+0.1%
Expenses	$13,238,808	$12,517,576	+0.1%
Net Income	$19,702	$49,156	-0.6%

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

$350,163

Total Directors

$76,052

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOEL ADLER	PRESIDENT	4.80	Officer Director	$11,957	$0	$11,957
SCOTT NIEDERT	VICE PRESIDENT	2.70	Officer Director	$7,351	$0	$7,351
MATT CAMERON	SECRETARY	5.10	Officer Director	$11,692	$0	$11,692
KRISTA ATYEO-GORTMAKER	TREASURER	5.80	Officer Director	$12,915	$0	$12,915
DAVID BEHRNS	DIRECTOR	3.30	Director	$6,265	$0	$6,265
TOM BERENS	DIRECTOR	3.70	Director	$8,216	$0	$8,216
WAYNE JARMAN	DIRECTOR	2.10	Director	$5,145	$0	$5,145
PAUL NELSON	DIRECTOR	1.30	Director	$4,983	$0	$4,983
BILL TOSTENSON	DIRECTOR	3.70	Director	$7,528	$0	$7,528
DAVID PAGE	GENERAL MANAGER	45.00	Officer	$167,404	$138,844	$306,248
MARK WEBER	MEMBER SERVICES MANAGER	45.00	Highest	$119,136	$38,195	$157,331
JON CHRISTENSEN	OPERATIONS MANAGER	45.00	Highest	$118,290	$68,527	$186,817
BRIDGET ANDERSON	OFFICE MANAGER	45.00	Highest	$117,943	$17,612	$135,555
GENE SASS	LINEMAN	43.00	Highest	$100,700	$29,298	$129,998
ERIC PEDERSON	LINE FOREMAN	43.00	Highest	$102,090	$79,728	$181,818

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
2025	$13,258,510	$13,238,808	$47,354,922	$19,702
2024	$12,566,732	$12,517,576	$44,583,627	$49,156
2023	$11,531,166	$11,425,521	$42,802,909	$105,645
2022	$11,362,354	$11,267,152	$39,780,870	$95,202
2021	$10,833,876	$10,816,116	$39,339,784	$17,760
2020	$10,849,181	$10,808,899	$36,982,921	$40,282
2019	$11,229,333	$11,191,835	$35,575,936	$37,498
2018	$11,758,836	$11,759,492	$33,741,748	$-656

WHETSTONE VALLEY ELECTRIC COOPERATIVE