COMMUNITY ELECTRIC COOPERATIVE

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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

1938

Legal Domicile

Principal Officer

STEVEN A HARMON

Phone

7572426181

Tax Period

2023-01-01 to 2023-12-31

COMMUNITY ELECTRIC COOPERATIVE, founded in 1938, is a mid-sized nonprofit that reported $28.7M in total revenue in fiscal year 2023.

Mission

SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY TO THE MEMBERS OF COMMUNITY ELECTRIC COOPERATIVE

Program Service Accomplishments

Program 1

THE COOPERATIVE'S MAJOR PROGRAM SERVICE ACCOMPLISHMENT WAS THE SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF...

THE COOPERATIVE'S MAJOR PROGRAM SERVICE ACCOMPLISHMENT WAS THE SAFE AND EFFECTIVE DISTRIBUTION OF ELECTRICITY. THE THREE LARGEST PROGRAM SERVICES AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER 18,049,075 OTHER SALARIES AND WAGES 3,127,393 DEPRECIATION AND AMORTIZATION 2,203,734

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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 $26,421,063

Investment Income $28,909

Other Revenue $2,252,039

TOTAL REVENUE $28,702,011

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,086,810

Fundraising Expenses $0

Other Expenses $23,647,571

TOTAL EXPENSES $28,734,381

Year-over-Year Comparison

	2023	2022	Change
Revenue	$28,702,011	$28,858,797	0.0%
Expenses	$28,734,381	$27,899,573	+0.0%
Net Income	$-32,370	$959,224	-1.0%

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

$1,040,269

Total Directors

$166,177

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVEN A HARMON	PRESIDENT AN	42.00	Officer	$461,831	$93,918	$555,749
HERMAN G PRESSON	MGR OF OPERA	41.00	Highest	$131,647	$95,044	$226,691
JONATHAN D THOMPSON	COO	40.00	Officer	$167,463	$48,959	$216,422
DANNY T BEALE	LINEMAN	54.00	Highest	$148,277	$43,114	$191,391
DARYL WALLS	VP OF BUS DE	41.00	Officer	$148,684	$40,052	$188,736
JONATHAN POWELL	LEAD LINEMAN	49.00	Highest	$118,296	$26,555	$144,851
DANIELLE BEALE	MGR OF ACCOU	41.00	Highest	$123,702	$17,321	$141,023
ERIK THIEDE	LEAD LINEMAN	48.00	Highest	$116,993	$21,912	$138,905
JEANNETTE S EVERETT	CHAIRMAN	3.95	Officer Director	$20,203	$0	$21,803
MICHAEL A FAULK	VICE-CHAIRMA	1.48	Officer Director	$18,203	$0	$19,803
DIANA F BEALE	SEC-TREAS	1.02	Officer Director	$17,403	$0	$19,003
CHAD N FOWLER	DIRECTOR	3.03	Director	$19,003	$0	$19,003
JOHN W STEWART	ASST. SEC-TR	3.13	Officer Director	$17,153	$0	$18,753
DOUGLAS A CHESSON	DIRECTOR	4.37	Director	$17,403	$0	$17,403
JASON B CARR	DIRECTOR	1.48	Director	$16,803	$0	$16,803
KARA D HEARN	DIRECTOR	1.15	Director	$16,803	$0	$16,803
R BRIAN JONES SR	DIRECTOR	1.04	Director	$16,803	$0	$16,803

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	$28,702,011	$28,734,381	$59,375,116	$-32,370
2022	$28,858,797	$27,899,573	$58,172,989	$959,224
2021	$23,292,666	$22,651,305	$55,165,460	$641,361
2020	$25,262,655	$24,189,076	$55,119,561	$1,073,579
2019	$26,393,508	$25,790,404	$52,058,878	$603,104
2018	$26,255,159	$25,137,143	$51,524,039	$1,118,016