SOUTHEASTERN ELECTRIC COOPERATIVE … - Form 990 Financial Data

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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

2000

Legal Domicile

Principal Officer

CHAD KINSLEY

Phone

6056483619

Tax Period

2025-01-01 to 2025-12-31

SOUTHEASTERN ELECTRIC COOPERATIVE INC, founded in 2000, is a mid-sized nonprofit in the Mutual Benefit sector that reported $96.0M in total revenue in fiscal year 2025. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

MEMBER FOCUSED. MEMBER DRIVEN. AS A NON-PROFIT ELECTRIC COOPERATIVE, WE ARE HERE TO SERVE THE MEMBERS OF THE COOPERATIVE WITH RELIABLE, QUALITY AND AFFORDABLE ELECTRIC SERVICE AND TO DO THAT WE ARE FOCUSED ON THEIR NEEDS AND DESIRES.

Program Service Accomplishments

Program 1

PROVIDING ELECTRIC SERVICE TO APPROXIMATELY 20,718 MEMBER-CONSUMERS OVER 4,640 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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $95,578,445

Investment Income $410,779

Other Revenue $17,949

TOTAL REVENUE $96,007,173

Expense Breakdown

Grants Paid $58,395

Salaries & Benefits $8,887,348

Fundraising Expenses $0

Other Expenses $77,458,306

TOTAL EXPENSES $96,007,173

Year-over-Year Comparison

	2025	2024	Change
Revenue	$96,007,173	$87,619,989	+0.1%
Expenses	$96,007,173	$87,619,989	+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

$745,146

Total Directors

$120,607

Key Employees

$322,816

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE HOLMBERG	PRESIDENT	5.40	Officer Director	$14,455	$0	$14,455
ROBERT WOLLMANN	VICE PRESIDENT	8.70	Officer Director	$16,180	$0	$16,180
DARYL TERVEEN	TREASURER	5.40	Officer Director	$12,605	$0	$12,605
JOHNATHAN WILDEBOER	SECRETARY	5.80	Officer Director	$13,680	$0	$13,680
DON HEEREN	DIRECTOR	5.80	Director	$12,780	$0	$12,780
CHRIS HOFER	DIRECTOR	2.60	Director	$8,742	$0	$8,742
CARLOS HOFER	DIRECTOR	4.90	Director	$14,055	$0	$14,055
JOHN OSTRAAT	DIRECTOR	4.20	Director	$10,230	$0	$10,230
DONOVAN KOST	DIRECTOR	8.00	Director	$17,880	$0	$17,880
JON WUNDER	CFO	40.00	Officer	$171,232	$66,526	$237,758
CHAD KINSLEY	CEO	40.00	Officer	$347,033	$103,435	$450,468
JOHN EUCHNER	VP OF OPERATIONS & ENGINEE	40.00	Key Emp	$196,128	$126,688	$322,816
TODD NELSON	VP OF INFORMATION TECHNOLOGY	40.00	Highest	$178,516	$60,960	$239,476
DUANE PULSE	LINE SUPERINTENDENT	40.00	Highest	$143,212	$84,700	$227,912
ROBERT KALDA	LINE SUPERINTENDENT	40.00	Highest	$143,155	$58,994	$202,149
TROY PETERS	LINE SUPERINTENDENT	40.00	Highest	$156,165	$56,612	$212,777
ADAM STARK	LINE SUPERINTENDENT	40.00	Highest	$139,373	$79,525	$218,898

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	$96,007,173	$96,007,173	$274,314,515	No data
2024	$87,619,989	$87,619,989	$265,106,823	No data
2023	$81,602,377	$81,602,377	$248,235,233	No data
2022	$76,912,343	$76,912,343	$223,506,079	No data
2021	$71,615,783	$71,615,783	$202,199,401	No data
2020	$64,131,933	$64,131,933	$188,239,253	No data

SOUTHEASTERN ELECTRIC COOPERATIVE INC