WHEATLAND ELECTRIC COOPERATIVE INC

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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

1948

Legal Domicile

Principal Officer

BRUCE W MUELLER

Phone

6208725885

Tax Period

2023-01-01 to 2023-12-31

WHEATLAND ELECTRIC COOPERATIVE INC, founded in 1948, is a mid-sized nonprofit that reported $94.8M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year.

Mission

DELIVERING ENERGY FOR LIFE.

Program Service Accomplishments

Program 1

PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 32,338 ACTIVE SERVICES AT YEAR END.

Program 2

PROVIDING WATER DISTRIBUTION CONTRACTS TO CUSTOMERS IN FINNEY AND KEARNY COUNTIES. SERVICES ARE PROVIDED ON A COOPERATIVE BASIS.

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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 $94,556,434

Investment Income $308,295

Other Revenue $-51,341

TOTAL REVENUE $94,813,388

Expense Breakdown

Grants Paid $102,914

Salaries & Benefits $9,202,492

Fundraising Expenses $0

Other Expenses $82,079,103

TOTAL EXPENSES $92,295,641

Year-over-Year Comparison

	2023	2022	Change
Revenue	$94,813,388	$115,654,284	-0.2%
Expenses	$92,295,641	$112,205,492	-0.2%
Net Income	$2,517,747	$3,448,792	-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

141

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

$1,535,839

Total Directors

$297,647

Key Employees

$1,816,128

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STACEY ADDISON	SECRETARY	7.80	Officer Director	$32,598	$0	$32,598
MARK ARNOLD	PRESIDENT	6.80	Officer Director	$35,168	$0	$35,168
WESLEY CAMPBELL	TRUSTEE	5.20	Director	$29,409	$0	$29,409
KATHLEEN EISENHOUR	VICE PRESIDENT (JAN-APR)	0.50	Officer Director	$10,141	$0	$10,141
LYNN FREESE	TRUSTEE (MAY-DEC)	2.00	Director	$15,349	$0	$15,349
ROBERT HISS	TRUSTEE	3.00	Director	$25,774	$0	$25,774
JOHN KLEYSTEUBER	TREASURER	2.30	Officer Director	$24,254	$0	$24,254
DUSTIN STANSBURY	TRUSTEE	3.00	Director	$36,056	$0	$36,056
JOHN SULLIVAN	TRUSTEE	4.00	Director	$31,641	$0	$31,641
MIKE THON	TRUSTEE	2.00	Director	$21,796	$0	$21,796
JOSHUA YOUNG	VICE PRESIDENT	5.30	Officer Director	$35,461	$0	$35,461
BRUCE MUELLER	CEO/GENERAL MANAGER	55.00	Officer	$499,781	$200,389	$700,170
JAMES MCVAY	ASSISTANT GM/GENERAL COUNSEL	50.00	Officer	$332,164	$103,684	$435,848
TRACI GODDARD	DIRECTOR OF FINANCE	55.00	Officer	$198,347	$63,852	$262,199
PAMELA BRUNGARDT	DIRECTOR OF CONSUMER SERVICES	50.00	Key Emp	$212,164	$110,854	$323,018
ALLISON CONINE	DIRECTOR OF MEMBER SERVICES	50.00	Key Emp	$167,535	$62,383	$229,918
JEVIN KASSELMAN	DIRECTOR OF INFORMATION TECHNOLOGY	55.00	Key Emp	$220,166	$111,598	$331,764
BARBARA KIRK	DIRECTOR OF HUMAN RESOURCES	43.00	Key Emp	$181,465	$99,776	$281,241
RICHARD KLAUS	DIRECTOR OF OPERATIONS	50.00	Key Emp	$234,161	$183,592	$417,753
LUCAS WEST	DIR. OF CORP SERVICES/WATER DIVISION	50.00	Key Emp	$169,516	$62,918	$232,434
RANDY COLEMAN	DISTRICT MANAGER	40.00	Highest	$170,625	$127,859	$298,484
CHRIS HUBER	DISTRICT MANAGER	40.00	Highest	$169,333	$77,431	$246,764
CURTIS PETERSON	DISTRICT MANAGER	40.00	Highest	$162,971	$88,137	$251,108
DENZIL REED	DISTRICT MANAGER	40.00	Highest	$156,186	$76,276	$232,462
PERRY SMITH	MANAGER OF WATER WORKS	40.00	Highest	$151,501	$64,998	$216,499

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	$94,813,388	$92,295,641	$396,336,815	$2,517,747
2022	$115,654,284	$112,205,492	$392,970,619	$3,448,792
2021	$135,504,562	$126,453,781	$396,291,837	$9,050,781
2020	$96,913,365	$96,475,759	$383,185,296	$437,606
2019	$103,101,194	$99,748,944	$382,570,280	$3,352,250
2018	$109,022,890	$109,494,879	$386,624,931	$-471,989