WHETSTONE VALLEY ELECTRIC COOPERATIVE (EIN 460205275) - 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

1940

Legal Domicile

Principal Officer

DAVID K PAGE

Phone

6054325331

Tax Period

2024-01-01 to 2024-12-31

WHETSTONE VALLEY ELECTRIC COOPERATIVE INC, founded in 1940, is a mid-sized nonprofit that reported $11.8M in total revenue in fiscal year 2018.

Mission

TO PROVIDE ELECTRICITY TO RURAL ELECTRIC COOPERATIVE MEMBERS.

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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 $12,468,550

Investment Income $49,026

Other Revenue $49,156

TOTAL REVENUE $12,566,732

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,607,491

Fundraising Expenses $0

Other Expenses $8,986,836

TOTAL EXPENSES $12,517,576

Year-over-Year Comparison

	2024	2023	Change
Revenue	$12,566,732	$11,531,166	+0.1%
Expenses	$12,517,576	$11,425,521	+0.1%
Net Income	$49,156	$105,645	-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

$336,921

Total Directors

$83,419

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOEL ADLER	PRESIDENT	7.70	Officer Director	$14,961	$0	$14,961
SCOTT NIEDERT	VICE PRESIDENT	2.60	Officer Director	$6,286	$0	$6,286
MATT CAMERON	SECRETARY	6.60	Officer Director	$11,639	$0	$11,639
KRISTA ATYEO-GORTMAKER	TREASURER	4.90	Officer Director	$11,514	$0	$11,514
DAVID BEHRNS	DIRECTOR	3.90	Director	$6,199	$0	$6,199
TOM BERENS	DIRECTOR	6.00	Director	$10,931	$0	$10,931
WAYNE JARMAN	DIRECTOR (BEG MAR)	3.60	Director	$5,626	$0	$5,626
PAUL NELSON	DIRECTOR	1.80	Director	$6,141	$0	$6,141
DARREN STRASSER	DIRECTOR (END MAR)	1.50	Director	$696	$0	$696
BILL TOSTENSON	DIRECTOR	5.60	Director	$9,426	$0	$9,426
DAVID PAGE	GENERAL MANAGER	45.00	Officer	$163,827	$128,694	$292,521
MARK WEBER	MEMBER SERVICES MANAGER	40.00	Highest	$111,159	$46,266	$157,425
JON CHRISTENSEN	OPERATIONS MANAGER	40.00	Highest	$114,249	$59,241	$173,490
BRIDGET ANDERSON	OFFICE MANAGER	40.00	Highest	$113,297	$16,918	$130,215

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	$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