NORTHERN VIRGINIA ELECTRIC CO-OP (EIN 540346923) - 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

1983

Legal Domicile

Principal Officer

David Schleicher

Phone

7033350500

Tax Period

2023-01-01 to 2023-12-31

NORTHERN VIRGINIA ELECTRIC CO-OP, founded in 1983, is a major nonprofit that reported $538.8M in total revenue in fiscal year 2018. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $520.3M left a modest 3% surplus.

Mission

Our mission is creating value for its members, employees and communities by providing safe, reliable electricity and quality products at competitive prices; serving approximately 180,323 meters/customers.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $864,007,865

Investment Income $8,353,906

Other Revenue $3,048,144

TOTAL REVENUE $875,409,915

Expense Breakdown

Grants Paid $0

Salaries & Benefits $30,724,580

Fundraising Expenses $0

Program Expenses $858,829,865

Other Expenses $816,777,700

TOTAL EXPENSES $858,829,865

Year-over-Year Comparison

	2023	2022	Change
Revenue	$875,409,915	$998,080,039	-0.1%
Expenses	$858,829,865	$986,247,208	-0.1%
Net Income	$16,580,050	$11,832,831	+0.4%

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

350

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

$4,206,387

Total Directors

$318,621

Key Employees

$554,834

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Schleicher David	President & CEO	40	Officer	$789,905	$29,175	$819,080
Toulme Patrick	Vice President & Corporate Counsel	40	Officer	$376,287	$120,375	$496,662
Rollins Wilbur	Senior Vice President - Finance & Accounting	40	Officer	$354,027	$105,115	$459,142
Arnold Singleton	Vice President - Engineering	40	Officer	$343,045	$57,180	$400,225
Thomas Pierpoint Jr	Vice President - Operations	40	Officer	$357,399	$34,268	$391,667
Jaramillo Gilbert	Vice President - Power Supply	40	Officer	$279,362	$77,398	$356,760
Swingle Daniel	Vice President - Electric System Operations	40	Officer	$244,934	$86,111	$331,045
Dailey Michael	Vice President - Energy Bus Development	40	Officer	$253,588	$69,682	$323,270
Hooker Lisa	Vice President - Communications	40	Officer	$267,767	$34,358	$302,125
Rainey John	Dir - Origination and Plant Ops	40	Key Emp	$216,715	$78,216	$294,931
Spinner Howard	Manager - Regulatory & Rates	40	Key Emp	$199,600	$60,303	$259,903
Crouch Curt R	Manager Civil Engineering, Land Mgmt & Permitting	40	Highest	$189,879	$46,915	$236,794
Williams Benjamin B	Lead Line Technician	68	Highest	$188,997	$39,424	$228,421
Hartung Paul J	Manager - Substation & Telecom	40	Highest	$178,595	$45,727	$224,322
Joyce Johnson	Vice President - Human Resources	40	Officer	$195,199	$24,861	$220,060
Robert Studds Jr	Line Technician, 1st Class	75	Highest	$188,623	$28,938	$217,561
Krovi Sai S	Program and PMO Manager	40	Highest	$188,831	$22,295	$211,126
Bisson Robert	Vice President - Electric System Development	40	Officer	$96,963	$9,388	$106,351
Ragan Michael E	Secretary	1.04	Director	$40,200	$5,998	$46,198
Gilbride Cynthia	Treasurer	1.35	Director	$40,200	$5,760	$45,960
Chesley James	Vice Chairperson	1.36	Director	$40,200	$5,687	$45,887
House Wade C	Chairman	1.23	Director	$40,200	$5,638	$45,838
George Brent	Director	5.09	Director	$41,400	$4,389	$45,789
Albrite Jr Cleil W	Director	0.92	Director	$41,400	$4,389	$45,789
Bruno Mark	Director	4.36	Director	$41,400	$1,760	$43,160
Middleton Edith	Past Director's Wife	0		$15,483	$1,260	$16,743
Grove Walter R	Past Director	0		$12,000	$1,680	$13,680

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	$875,409,915	$858,829,865	$1,386,742,429	$16,580,050
2022	$998,080,039	$986,247,208	$1,247,676,031	$11,832,831
2021	$676,666,779	$649,621,354	$1,071,859,351	$27,045,425
2020	$525,186,117	$502,786,889	$1,023,743,827	$22,399,228
2019	$574,780,360	$549,302,662	$990,050,799	$25,477,698
2018	$538,762,673	$520,272,079	$930,331,339	$18,490,594

NORTHERN VIRGINIA ELECTRIC CO-OP