SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION (EIN 560405464) - 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

1940

Legal Domicile

Principal Officer

CHRISTOPHER M SPEARS

Phone

9108928071

Tax Period

2025-01-01 to 2025-12-31

SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION, founded in 1940, is a major nonprofit that reported $127.6M in total revenue in fiscal year 2025. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION (SOUTH RIVER) IS A PREMIER LOCALLY-OWNED AND OPERATED ELECTRIC COOPERATIVE WITH A MISSION TO PROVIDE SAFE, RELIABLE, COMPETITIVELY-PRICED ELECTRICITY. SOUTH RIVER IS COMMITTED TO ACHIEVING EXCELLENCE AND EMPOWERING ITS MEMBERS. SOUTH RIVER IS DEDICATED TO HIGH STANDARDS OF PERFORMANCE AND INTEGRITY. THE COOPERATIVE'S NUMBER ONE PRIORITY IS ITS MEMBERS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $127,489,087

Investment Income $111,808

Other Revenue $1,795

TOTAL REVENUE $127,602,690

Expense Breakdown

Grants Paid $0

Salaries & Benefits $818,939

Fundraising Expenses $0

Program Expenses $126,823,964

Other Expenses $119,710,757

TOTAL EXPENSES $126,823,964

Year-over-Year Comparison

	2025	2024	Change
Revenue	$127,602,690	$113,205,771	+0.1%
Expenses	$126,823,964	$111,620,115	+0.1%
Net Income	$778,726	$1,585,656	-0.5%

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

125

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

$728,139

Total Directors

$168,680

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLARENCE WAYNE COLLIER JR	PRESIDENT	3.70	Officer Director	$21,010	$0	$21,010
KELLY HARRINGTON	VICE PRESIDE	3.80	Officer Director	$18,904	$0	$18,904
SUE R FLOWERS	SECRETARY	3.20	Officer Director	$18,606	$0	$18,606
GEORGE B WILLIAMS	TREASURER	3.60	Officer Director	$19,360	$0	$19,360
DR E SUE GODWIN-BAKER	DIRECTOR	2.90	Director	$17,560	$0	$17,560
JAMES W SIMMONS	DIRECTOR	3.00	Director	$18,610	$0	$18,610
JEFFREY MARTIN	DIRECTOR	2.50	Director	$17,410	$0	$17,410
KAYLA R BARTLEY	DIRECTOR	2.90	Director	$18,010	$0	$18,010
RHONDA AUTRY	DIRECTOR	3.00	Director	$19,210	$0	$19,210
CHRISTOPHER M SPEARS	EXECUTIVE VP	52.00	Officer	$530,437	$119,822	$650,259
ANDREW A HARDY	CFO	50.00	Highest	$244,032	$84,359	$328,391
CATHERINE O'DELL	VP OF MEMBER	44.00	Highest	$232,637	$80,449	$313,086
DAVID KEITH	VP OF ENG/OP	50.00	Highest	$226,845	$84,945	$311,790
ANDREW RADFORD	VP - IT	45.00	Highest	$225,353	$76,146	$301,499
PAM CARTER	VP OF CORPOR	50.00	Highest	$185,925	$70,995	$256,920

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
2025	$127,602,690	$126,823,964	$341,843,472	$778,726
2024	$113,205,771	$111,620,115	$324,319,505	$1,585,656
2023	$109,686,443	$107,495,211	$303,047,273	$2,191,232
2022	$110,165,030	$108,683,731	$282,216,909	$1,481,299
2021	$105,392,697	$102,803,627	$271,179,808	$2,589,070
2020	$99,894,053	$98,509,800	$266,657,077	$1,384,253
2019	$103,585,147	$101,345,668	$255,619,706	$2,239,479
2018	$100,722,917	$100,139,445	$242,420,459	$583,472

SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION