LACREEK ELECTRIC ASSOCIATION INC (EIN 460218629) - 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

1948

Legal Domicile

Principal Officer

WADE RISSE

Phone

6056856581

Tax Period

2024-01-01 to 2024-12-31

LACREEK ELECTRIC ASSOCIATION INC, founded in 1948, is a mid-sized nonprofit that reported $15.7M in total revenue in fiscal year 2018.

Mission

TO PROVIDE ELECTRIC SERVICE TO 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 $16,600,796

Investment Income $327,567

Other Revenue $12,431

TOTAL REVENUE $16,940,794

Expense Breakdown

Grants Paid $5,000

Salaries & Benefits $3,321,300

Fundraising Expenses $0

Other Expenses $11,979,224

TOTAL EXPENSES $16,502,243

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,940,794	$16,464,871	+0.0%
Expenses	$16,502,243	$15,983,605	+0.0%
Net Income	$438,551	$481,266	-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

$370,043

Total Directors

$72,623

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARION SCHULTZ	BOARD MEMBER	3.00	Director	$6,194	$0	$6,194
WADE RISSE	PRESIDENT	3.00	Officer Director	$5,181	$0	$5,181
BRENT IRELAND	VICE PRESIDENT	3.00	Officer Director	$3,772	$0	$3,772
THOMAS SCHLACK	TREASURER	3.00	Officer Director	$6,950	$0	$6,950
SCOTT LARSON	SECRETARY	3.00	Officer Director	$4,133	$0	$4,133
CLARENCE ALLEN	BOARD MEMBER	3.00	Director	$4,820	$0	$4,820
TROY KUXHAUS	BOARD MEMBER	3.00	Director	$6,950	$0	$6,950
CONNIE WHIRLWIND HORSE	BOARD MEMBER	3.00	Director	$4,820	$0	$4,820
DONOVAN YOUNGMAN	BOARD MEMBER	3.00	Director	$5,146	$0	$5,146
GERALD SHARP	BOARD MEMBER	3.00	Director	$6,950	$0	$6,950
NEAL LIVERMONT	BOARD MEMBER	3.00	Director	$4,476	$0	$4,476
CLIFFORD LAFFERTY	BOARD MEMBER	3.00	Director	$4,820	$0	$4,820
COLE LANGE	BOARD MEMBER	3.00	Director	$8,411	$0	$8,411
JOSH FANNING	GENERAL MANAGER	40.00	Officer	$143,785	$76,582	$220,367
KASI HARRIS	FINANCE MANAGER	40.00	Officer	$81,143	$48,497	$129,640
MICHAEL PISHA	LINE SUPERINTENDENT	40.00	Highest	$123,942	$46,318	$170,260
JESSE BYERLEY	LINE FORMAN	40.00	Highest	$113,283	$49,410	$162,693
GARRETT METZINGER	JOURNEYMAN LINEMAN	40.00	Highest	$104,675	$45,058	$149,733
AARON RISSE	JOURNEYMAN LINEMAN	40.00	Highest	$104,444	$48,862	$153,306
DAMON WANGERIN	JOURNEYMAN LINEMAN	40.00	Highest	$100,425	$42,514	$142,939

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	$16,940,794	$16,502,243	$68,233,950	$438,551
2023	$16,464,871	$15,983,605	$70,014,869	$481,266
2022	$16,981,465	$16,686,972	$67,477,972	$294,493
2021	$15,659,452	$14,877,034	$62,795,363	$782,418
2020	$15,258,355	$14,845,371	$60,412,540	$412,984
2019	$15,707,038	$15,236,167	$54,750,256	$470,871
2018	$15,689,386	$15,305,681	$55,310,362	$383,705

LACREEK ELECTRIC ASSOCIATION INC