BARC ELECTRIC COOPERATIVE (EIN 540130127) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1938

Legal Domicile

Principal Officer

COURTNEY PERDUE

Phone

8008462272

Tax Period

2022-01-01 to 2022-12-31

BARC ELECTRIC COOPERATIVE, founded in 1938, is a mid-sized nonprofit that reported $25.8M in total revenue in fiscal year 2018. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE SAFE AND RELIABLE POWER TO THE MEMBERS OF BARC ELECTRIC COOPERATIVE LOCATED IN THE COUNTIES OF ALLEGHANY, AUGUSTA, BATH, HIGHLAND, AND ROCKBRIDGE IN THE COMMONWEALTH OF VIRGINIA.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $322,005

Program Service Revenue $27,473,341

Investment Income $999,512

Other Revenue $9,517,748

TOTAL REVENUE $38,312,606

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,297,665

Fundraising Expenses $0

Other Expenses $29,655,446

TOTAL EXPENSES $37,239,068

Year-over-Year Comparison

	2022	2021	Change
Revenue	$38,312,606	$35,646,972	+0.1%
Expenses	$37,239,068	$30,954,169	+0.2%
Net Income	$1,073,538	$4,692,803	-0.8%

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

$760,753

Total Directors

$111,300

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM BUCHANAN	CEO	29.60	Officer	$216,923	$79,654	$296,577
CHRIS BOTULINSKI	COO	33.81	Officer	$180,316	$49,564	$229,880
COURTNEY PERDUE	CFO	33.80	Officer	$142,777	$27,919	$170,696
SHAY MCMULLEN	LINE CREW FO	50.00	Highest	$127,517	$25,634	$153,151
KEVIN BRYANT	LINE CREW FO	48.31	Highest	$122,288	$27,410	$149,698
TERRY MILLER	AREA SERVICE	48.31	Highest	$116,167	$26,734	$142,901
STEPHEN CLARK	LINE CREW FO	47.30	Highest	$119,637	$22,293	$141,930
DAKOYTA MINTER	JOURNEYMAN L	47.65	Highest	$112,598	$17,756	$130,354
JASON P BLACK	DIRECTOR	4.00	Director	$15,900	$0	$15,900
EDSEL B FORD	DIRECTOR	5.00	Director	$15,900	$0	$15,900
JAY LEWIS II	DIRECTOR	4.00	Director	$15,900	$0	$15,900
GARY R JOHNSON	ASSISTANT SE	5.00	Officer Director	$15,900	$0	$15,900
JOHN M QUANTZ	SECRETARY/TR	4.00	Officer Director	$15,900	$0	$15,900
C MICHAEL SANDRIDGE	VICE PRESIDE	4.00	Officer Director	$15,900	$0	$15,900
KEITH L SWISHER	PRESIDENT	8.00	Officer Director	$15,900	$0	$15,900

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
2022	$38,312,606	$37,239,068	$171,302,086	$1,073,538
2021	$35,646,972	$30,954,169	$141,938,050	$4,692,803
2020	$29,594,882	$28,061,175	$118,814,902	$1,533,707
2019	$28,837,593	$28,394,896	$96,915,680	$442,697
2018	$25,815,836	$25,904,962	$79,403,132	$-89,126

BARC ELECTRIC COOPERATIVE