WEST CENTRAL ELECTRIC COOPERATIVE

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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

1949

Legal Domicile

Principal Officer

SHAD RIGGLE

Phone

6056698100

Tax Period

2024-01-01 to 2024-12-31

WEST CENTRAL ELECTRIC COOPERATIVE, founded in 1949, is a mid-sized nonprofit that reported $18.5M in total revenue in fiscal year 2024. Expenses of $17.9M left a modest 3% surplus.

Mission

TO PROVIDE ELECTRICITY TO RURAL AREAS.

Program Service Accomplishments

Program 1

PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,709 MEMBERS, SERVING 3,967.33 MILES OF LINE, ADDED 15.93 MILES OF LINE, AND REMOVED 15 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $18,091,400

Investment Income $447,886

Other Revenue $-22,978

TOTAL REVENUE $18,516,308

Expense Breakdown

Grants Paid $21,000

Salaries & Benefits $4,164,751

Fundraising Expenses $0

Other Expenses $12,793,576

TOTAL EXPENSES $17,914,344

Year-over-Year Comparison

	2024	2023	Change
Revenue	$18,516,308	$18,074,256	+0.0%
Expenses	$17,914,344	$17,609,363	+0.0%
Net Income	$601,964	$464,893	+0.3%

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

$306,853

Total Directors

$146,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SHAD RIGGLE	PRESIDENT	7.00	Officer Director	$15,950	$0	$15,950
KENNETH MILLER	VICE PRESIDENT	4.00	Officer Director	$14,200	$0	$14,200
MARTY HANSEN	SECRETARY/TREASURER	7.00	Officer Director	$18,050	$0	$18,050
RICHARD BENDT	DIRECTOR	4.00	Director	$13,150	$0	$13,150
MIKE MCQUISTION	DIRECTOR	1.00	Director	$12,100	$0	$12,100
KEVIN NEUHAUSER	DIRECTOR	6.00	Director	$14,550	$0	$14,550
PAUL PATTERSON	DIRECTOR	1.00	Director	$15,250	$0	$15,250
JAMES SMITH	DIRECTOR	4.00	Director	$14,900	$0	$14,900
CLIFF UTHE	DIRECTOR	2.00	Director	$16,650	$0	$16,650
JIM WILLERT	DIRECTOR	4.00	Director	$11,400	$0	$11,400
JEFF BIRKELAND	CEO/MANAGER	50.00	Officer	$194,204	$64,449	$258,653
SCOTT KITTLESON	OPERATIONS MANAGER	50.00	Highest	$156,319	$52,999	$209,318
KIT TALICH	STAFF ENGINEER	50.00	Highest	$143,160	$67,281	$210,441
SETH GEIGLE	LINE SUPERINTENDENT	50.00	Highest	$134,580	$66,073	$200,653
JILL RANKIN	FINANCE MANAGER	50.00	Highest	$129,251	$100,005	$229,256
DANA DESLAURIERS	FOREMAN	45.00	Highest	$124,408	$31,044	$155,452

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	No data	No data	No data	No data
2024	$18,516,308	$17,914,344	$57,347,812	$601,964
2023	$18,074,256	$17,609,363	$57,961,472	$464,893
2022	$19,143,213	$18,919,889	$58,808,066	$223,324
2021	$18,722,038	$17,754,720	$53,451,686	$967,318
2020	$18,634,167	$18,352,832	$57,064,508	$281,335
2019	$18,510,016	$18,179,056	$50,272,377	$330,960
2018	$18,819,594	$18,499,296	$48,919,044	$320,298