RUSHMORE ELECTRIC POWER COOP (EIN 460226551) - 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

1950

Legal Domicile

Principal Officer

KORY HAMMERBECK

Phone

6053424759

Tax Period

2023-01-01 to 2023-12-31

RUSHMORE ELECTRIC POWER COOP, founded in 1950, is a mid-sized nonprofit that reported $15.1M in total revenue in fiscal year 2018. Revenue surged 79% from the prior year, signaling strong growth momentum. The organization ran a surplus of $7.4M, a strong 49% operating margin.

Mission

WHOLESALE POWER SUPPLIER TO DISTRIBUTION COMPANY

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,448,421

Investment Income $220,369

Other Revenue $4,718,168

TOTAL REVENUE $12,386,958

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,398,353

Fundraising Expenses $0

Other Expenses $2,557,655

TOTAL EXPENSES $8,575,236

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,386,958	$14,508,098	-0.1%
Expenses	$8,575,236	$9,018,860	0.0%
Net Income	$3,811,722	$5,489,238	-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

$353,224

Total Directors

$56,750

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KORY HAMMERBECK	CEO/GENERAL	40.00	Officer	$235,691	$88,283	$323,974
CORY TRAPP	ENGINEERING	40.00	Highest	$185,224	$70,073	$255,297
MARC CHARLES ZAUTKE	CIO	40.00	Highest	$144,579	$59,812	$204,391
MARK MILLER	CFO	40.00	Highest	$123,361	$58,442	$181,803
TOM SCHLACK	DIRECTOR	3.15	Director	$10,250	$0	$10,250
JUSTIN BRICKNER	SECRETARY	2.85	Officer Director	$9,250	$0	$9,250
DWIGHT ROSSOW	PRESIDENT	2.15	Officer Director	$7,500	$0	$7,500
DAVE LINDBLOM	VICE PRESIDE	2.08	Officer Director	$6,750	$0	$6,750
DAN HEFNER	TREASURER	1.77	Officer Director	$5,750	$0	$5,750
JERRY HAMMERQUIST	DIRECTOR	1.46	Director	$4,750	$0	$4,750
MIKE MCQUISTION	DIRECTOR	1.46	Director	$4,750	$0	$4,750
KERRY MCLELLAN	DIRECTOR	1.08	Director	$3,500	$0	$3,500
PAUL LAWRENCE	DIRECTOR	1.00	Director	$3,250	$0	$3,250
JAMIE LEWIS	DIRECTOR	0.31	Director	$1,000	$0	$1,000

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	$12,386,958	$8,575,236	$76,030,638	$3,811,722
2022	$14,508,098	$9,018,860	$78,036,719	$5,489,238
2021	$7,530,453	$8,100,660	$66,615,714	$-570,207
2020	$8,774,347	$7,776,563	$65,019,371	$997,784
2019	$8,122,958	$8,032,856	$64,320,597	$90,102
2018	$15,095,084	$7,716,766	$64,784,609	$7,378,318

RUSHMORE ELECTRIC POWER COOP