SOUTHERN MARYLAND ELECTRIC COOPERATIVE INC (EIN 520492367) - 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

1937

Legal Domicile

Principal Officer

SONJA M COX

Phone

3012744328

Tax Period

2024-01-01 to 2024-12-31

SOUTHERN MARYLAND ELECTRIC COOPERATIVE INC, founded in 1937, is a major nonprofit in the Public & Societal Benefit sector that reported $542.5M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF SOUTHERN MARYLAND ELECTRIC 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $536,537,265

Investment Income $362,860

Other Revenue $5,582,974

TOTAL REVENUE $542,483,099

Expense Breakdown

Grants Paid $0

Salaries & Benefits $74,315,720

Fundraising Expenses $0

Other Expenses $457,004,494

TOTAL EXPENSES $531,320,214

Year-over-Year Comparison

	2024	2023	Change
Revenue	$542,483,099	$482,120,622	+0.1%
Expenses	$531,320,214	$479,551,762	+0.1%
Net Income	$11,162,885	$2,568,860	+3.3%

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

579

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

$3,738,507

Total Directors

$476,550

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SONJA M COX	PRESIDENT &	50.00	Officer	$967,272	$115,107	$1,082,379
JOSEPH TRENTACOSTA	SR VP & CIO	50.00	Officer	$438,541	$98,456	$536,997
MARK A MACDOUGALL	SR VP & COUN	50.00	Officer	$457,073	$77,824	$534,897
BETH A KENNEDY	SR VP & CFO	50.00	Officer	$415,450	$79,862	$495,312
ROGER SCHNEIDER	SR VP & COO	50.00	Officer	$400,406	$94,315	$494,721
CINDY M RAUNER	SR VP & CHRO	50.00	Officer	$382,708	$52,793	$435,501
DAMON KRIEGER	VP LEGAL AFF	50.00	Highest	$351,124	$50,182	$401,306
EUGENE BRADFORD	VP RATES & E	50.00	Highest	$275,556	$61,843	$337,399
JOHN BREDENKAMP	VP TRANSM E&	50.00	Highest	$266,015	$43,539	$309,554
CALVIN THOMAS	SERVICEMAN	69.00	Highest	$247,182	$55,344	$302,526
THOMAS DENNISON	VP GOVT. & P	50.00	Highest	$254,246	$45,421	$299,667
W RAYNER BLAIR III	CHAIRMAN	5.00	Officer Director	$42,200	$0	$42,200
RICHARD A WINKLER	DIRECTOR	5.00	Director	$37,600	$0	$37,600
NANCY W ZINN	SEC. / TREAS	4.00	Officer Director	$34,400	$0	$34,400
P SCOTT WHITE	DIRECTOR	4.00	Director	$33,800	$0	$33,800
W MICHAEL PHIPPS	DIRECTOR	4.00	Director	$33,300	$0	$33,300
F GEORGE HEINZE	DIRECTOR	4.00	Director	$32,200	$0	$32,200
CHARLES B BOWLING JR	DIRECTOR	3.00	Director	$31,800	$0	$31,800
KENNETH W CROSS	ASST. SEC. /	3.00	Officer Director	$31,400	$0	$31,400
SUSAN HANCE-WELLS	DIRECTOR	3.00	Director	$31,400	$0	$31,400
J DOUGLAS FREDERICK	DIRECTOR	3.00	Director	$30,900	$0	$30,900
WILLIAM R CULLINS III	VICE CHAIRMA	3.00	Officer Director	$29,800	$0	$29,800
JOSEPH GILBERT MURPHY	DIRECTOR	2.00	Director	$28,700	$0	$28,700
DANIEL W DYER	DIRECTOR	2.00	Director	$27,150	$0	$27,150
KENNETH L DYSON	FMR ASST. SE	2.00	Officer Director	$20,900	$0	$20,900
DAVID A CROSS JR	DIRECTOR	2.00	Director	$17,550	$0	$17,550
EDWARD HOLLAND	DIRECTOR	2.00	Director	$7,300	$0	$7,300
JAMES A RICHARDS	FMR DIRECTOR	2.00	Director	$6,150	$0	$6,150

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	$542,483,099	$531,320,214	$1,242,664,312	$11,162,885
2023	$482,120,622	$479,551,762	$1,187,119,903	$2,568,860
2022	$558,196,918	$551,662,359	$1,212,996,814	$6,534,559
2021	$461,053,058	$455,327,370	$1,114,931,504	$5,725,688
2020	$421,088,627	$417,143,719	$1,077,937,193	$3,944,908
2019	$459,796,369	$455,338,791	$1,049,770,342	$4,457,578
2018	$472,543,814	$468,940,417	$1,032,050,106	$3,603,397

SOUTHERN MARYLAND ELECTRIC COOPERATIVE INC