THE MIDWEST ELECTRIC COOPERATIVE CORPORATION (EIN 470348438) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1939

Legal Domicile

Principal Officer

JAYSON BISHOP

Tax Period

2023-01-01 to 2023-12-31

THE MIDWEST ELECTRIC COOPERATIVE CORPORATION, founded in 1939, is a mid-sized nonprofit that reported $31.1M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $30.0M left a modest 3% surplus.

Mission

TO SAFELY PROVIDE RELIABLE POWER AND HIGH-QUALITY SERVICE TO OUR COOPERATIVE MEMBERS IN AN EFFICIENT AND COST-EFFECTIVE MANNER.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $30,783,877

Investment Income $317,449

Other Revenue $9,488

TOTAL REVENUE $31,110,814

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,718,577

Fundraising Expenses $0

Other Expenses $25,325,855

TOTAL EXPENSES $30,044,432

Year-over-Year Comparison

	2023	2022	Change
Revenue	$31,110,814	$35,694,791	-0.1%
Expenses	$30,044,432	$37,039,098	-0.2%
Net Income	$1,066,382	$-1,344,307	-1.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$453,760

Total Directors

$44,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAYSON BISHOP	GENERAL MANAGER	40.00	Officer	$181,924	$94,726	$276,650
KRAIG WYKERT	OPERATIONS MANAGER	40.00	Highest	$113,400	$66,064	$179,464
KARL LAKE	ENGINEERING MANAGER	40.00	Highest	$117,554	$61,630	$179,184
TIM JOHNSON	APPARATUS TECHNICIAN	40.00	Highest	$114,620	$63,406	$178,026
KYLE R DEEDS	CONSTRUCTION FOREMAN	40.00	Highest	$113,038	$55,402	$168,440
KIRK HEIMES	METER TECHNICIAN	40.00	Highest	$105,626	$52,901	$158,527
RILEY D KENNEDY	FINANCIAL MANAGER	40.00	Officer	$106,862	$50,098	$156,960
VANCE MCCOY	TREASURER	2.00	Officer Director	$9,100	$0	$9,100
CHRIS CORNELIUS	DIRECTOR	2.00	Director	$6,175	$0	$6,175
MARK MCCONNELL	DIRECTOR	2.00	Director	$6,175	$0	$6,175
DENNIS HUTT	DIRECTOR	2.00	Director	$4,225	$0	$4,225
SHAWN TURNER	PRESIDENT	2.00	Officer Director	$4,225	$0	$4,225
NICK HANSON	VICE PRESIDENT	2.00	Officer Director	$4,225	$0	$4,225
DALE SCHROEDER	DIRECTOR	2.00	Director	$3,900	$0	$3,900
BRAD HARMS	DIRECTOR	2.00	Director	$3,575	$0	$3,575
GAVIN MCCLINTOCK	SECRETARY	2.00	Officer Director	$2,600	$0	$2,600

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	$31,110,814	$30,044,432	$85,085,716	$1,066,382
2022	$35,694,791	$37,039,098	$83,342,155	$-1,344,307
2021	$30,806,010	$31,794,142	$80,947,030	$-988,132
2020	$31,923,133	$32,866,021	$82,884,036	$-942,888
2019	$26,890,805	$27,601,218	$79,282,432	$-710,413
2018	$26,333,721	$26,701,085	$78,251,132	$-367,364

THE MIDWEST ELECTRIC COOPERATIVE CORPORATION