THE VICTORY ELECTRIC COOPERATIVE ASSOCIATION INC (EIN 480499309) - Form 990 Financial Analysis & Trantor Score

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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

1945

Legal Domicile

Principal Officer

SHANE LAWS

Phone

6202272139

Tax Period

2023-01-01 to 2023-12-31

THE VICTORY ELECTRIC COOPERATIVE ASSOCIATION INC, founded in 1945, is a mid-sized nonprofit that reported $72.4M in total revenue in fiscal year 2023. Revenue decreased 17% compared to the prior year.

Mission

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $71,744,215

Investment Income $576,285

Other Revenue $63,916

TOTAL REVENUE $72,384,416

Expense Breakdown

Grants Paid $80,374

Salaries & Benefits $7,373,441

Fundraising Expenses $0

Other Expenses $58,683,017

TOTAL EXPENSES $71,810,969

Year-over-Year Comparison

	2023	2022	Change
Revenue	$72,384,416	$87,729,431	-0.2%
Expenses	$71,810,969	$87,545,520	-0.2%
Net Income	$573,447	$183,911	+2.1%

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

$1,201,271

Total Directors

$325,792

Key Employees

$277,330

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNY WEHKAMP	TRUSTEE	5.00	Director	$26,032	$0	$26,032
JOHN LEIS	TRUSTEE	6.00	Director	$35,260	$0	$35,260
JIM IMEL	TRUSTEE	7.00	Director	$28,005	$0	$28,005
PATRICK MORSE	PRESIDENT	5.30	Officer Director	$30,832	$0	$30,832
KENNETH SCHULTE	TRUSTEE	4.50	Director	$5,940	$0	$5,940
JAMES DARYL TIEBEN	VICE PRESIDENT	6.40	Officer Director	$29,932	$0	$29,932
CEDRIC DREWES	SECRETARY/TREASURER	7.00	Officer Director	$42,460	$0	$42,460
RANDY QUINT	TRUSTEE	4.00	Director	$24,832	$0	$24,832
GARY GILLESPIE	TRUSTEE (JAN-FEB)	5.00	Director	$4,239	$0	$4,239
TERRI LARSON	TRUSTEE	4.30	Director	$28,432	$0	$28,432
JAMES L OCHS	TRUSTEE	8.00	Director	$38,260	$0	$38,260
MEGAN EVANS	TRUSTEE (FEB-DEC)	3.00	Director	$31,568	$0	$31,568
ANTHONY S LAWS	CEO	60.00	Officer	$394,064	$143,433	$537,497
ANGELA K UNRUH	CFO	48.00	Officer	$195,811	$83,701	$279,512
DENZIL MCGILL	CIO	45.00	Officer	$182,522	$98,516	$281,038
RYAN MILLER	VP OF OPERATIONS	48.00	Key Emp	$154,842	$122,488	$277,330
ROB HENRY	VP OF ENGINEERING	50.00	Highest	$141,896	$76,696	$218,592
AMY GRASSER	VP OF CORPORATE SERVICES	45.00	Highest	$137,310	$64,754	$202,064
TED MCATEE	JOURNEYMAN LINEMAN	50.00	Highest	$130,073	$85,478	$215,551
ERIC SPEER	MANAGER OF OPERATIONS	48.00	Highest	$129,984	$90,859	$220,843
AUSTIN GOODER	JOURNEYMAN LINEMAN	49.00	Highest	$126,815	$22,231	$149,046

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	$72,384,416	$71,810,969	$190,296,293	$573,447
2022	$87,729,431	$87,545,520	$184,950,618	$183,911
2021	$85,802,968	$83,799,708	$181,839,680	$2,003,260
2020	$69,764,583	$69,822,632	$169,453,454	$-58,049
2019	$69,729,714	$70,614,512	$169,214,094	$-884,798
2018	$76,657,276	$76,409,975	$157,198,788	$247,301

THE VICTORY ELECTRIC COOPERATIVE ASSOCIATION INC