KINGSBURY ELECTRIC COOPERATIVE INC

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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

1945

Legal Domicile

Principal Officer

DEAN BJORKLUND

Phone

6058543522

Tax Period

2023-01-01 to 2023-12-31

KINGSBURY ELECTRIC COOPERATIVE INC, founded in 1945, is a community nonprofit that reported $3.8M in total revenue in fiscal year 2023.

Mission

THE MISSION OF KINGSBURY ELECTRIC COOPERATIVE, INC. IS TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM'S SERVICE AREA AT THE LOWEST PRICE CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE; TO DEVELOP AND MAINTAIN A STRONG FINANCIAL STRUCTURE, PROVIDING ADEQUATE FUNDING AND CAPITAL TO COVER COOPERATIVE OBLIGATIONS AND FUTURE DEVELOPMENT; TO ADVISE AND INFORM MEMBERS AND EMPLOYEES OF COOPERATIVE DEVELOPMENTS AND OPERATIONS; AND TO PROVIDE FOR SAFE AND EFFICIENT OPERATIONS OF THE SYSTEM.

Program Service Accomplishments

Program 1

PROVIDED ELECTRIC SERVICE TO 888 MEMBERS ALONG 669.39 MILES OF ELECTRIC 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,767,732

Investment Income $-1,835

Other Revenue $-15,028

TOTAL REVENUE $3,750,869

Expense Breakdown

Grants Paid $3,625

Salaries & Benefits $980,578

Fundraising Expenses $0

Other Expenses $2,533,043

TOTAL EXPENSES $3,759,639

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,750,869	$3,667,931	+0.0%
Expenses	$3,759,639	$3,667,931	+0.0%
Net Income	$-8,770	$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

$262,380

Total Directors

$22,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEAN BJORKLUND	PRESIDENT	2.00	Officer Director	$3,500	$0	$3,500
ALAN VEDVEI	VICE PRESIDENT	2.00	Officer Director	$4,250	$0	$4,250
VERNE JENSEN	SECRETARY/TREASURER	2.00	Officer Director	$2,650	$0	$2,650
DAVE HELLER	DIRECTOR	2.00	Director	$4,500	$0	$4,500
RICHARD ABRAHAMSON	DIRECTOR	2.00	Director	$4,000	$0	$4,000
GREG NOEM	DIRECTOR	2.00	Director	$3,500	$0	$3,500
EVAN BUCKMILLER	GENERAL MANAGER	40.00	Officer	$137,272	$33,024	$170,296
RACHEL ANDERSON	ACCOUNTANT	40.00	Officer	$62,179	$19,505	$81,684

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	$3,750,869	$3,759,639	$11,965,736	$-8,770
2022	$3,667,931	$3,667,931	$10,786,257	No data
2021	$3,297,763	$3,297,763	$10,276,184	No data
2020	$3,515,013	$3,515,711	$10,147,926	$-698
2019	$3,714,666	$3,870,063	$9,485,382	$-155,397
2018	$3,253,715	$3,446,770	$9,497,431	$-193,055