DOUGLAS 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

1946

Legal Domicile

Principal Officer

Wayne Lefers

Phone

6057242323

Tax Period

2025-01-01 to 2025-12-31

DOUGLAS ELECTRIC COOPERATIVE INC, founded in 1946, is a community nonprofit that reported $3.7M in total revenue in fiscal year 2025. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

Dedicated to provide safe, low cost, reliable electricity to all our members.

Program Service Accomplishments

Program 1

Douglas Electric has purchased and delivered electricity to 822 rural electric services for 620 rural electric cooperative members in Douglas County, South Dakota.

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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 $3,650,316

Investment Income $18,494

Other Revenue $0

TOTAL REVENUE $3,668,810

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,026,074

Fundraising Expenses $0

Program Expenses $0

Other Expenses $2,384,740

TOTAL EXPENSES $3,668,810

Year-over-Year Comparison

	2025	2024	Change
Revenue	$3,668,810	$3,350,147	+0.1%
Expenses	$3,668,810	$3,350,147	+0.1%
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

Total Directors

$28,200

Key Employees

$165,753

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jay Spaans	Manager	40	Key Emp	$108,780	$56,973	$165,753
Larry Vander Ley	Vice President	6	Director	$7,050	$0	$7,050
Blake Ligtenberg	Treasurer	5	Director	$6,300	$0	$6,300
Wayne Lefers	President	5	Director	$5,400	$0	$5,400
Eric Neugebauer	Director	5	Director	$5,400	$0	$5,400
Joel Baier	Secretary	4	Director	$4,050	$0	$4,050

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	$3,668,810	$3,668,810	$11,120,409	No data
2024	$3,350,147	$3,350,147	$10,066,990	No data
2023	$3,290,647	$3,290,647	$9,742,505	No data
2022	$3,345,818	$3,345,818	$9,362,059	No data
2021	$3,073,169	$3,073,169	$9,084,216	No data
2020	$3,100,438	$3,100,438	$8,986,018	No data