NORTH CAROLINA ASSOCIATION OF ELECTRIC COOPERATIVES INC (EIN 561189186) - 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

1977

Legal Domicile

Principal Officer

JOSEPH P BRANNAN

Phone

9198720800

Tax Period

2025-01-01 to 2025-12-31

NORTH CAROLINA ASSOCIATION OF ELECTRIC COOPERATIVES INC, founded in 1977, is a mid-sized nonprofit that reported $13.8M in total revenue in fiscal year 2025.

Mission

PROVIDE PROGRAMS AND SERVICES IN SUPPORT OF RURAL ELECTRIFICATION

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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 $258,389

Program Service Revenue $11,342,075

Investment Income $26,749

Other Revenue $2,172,925

TOTAL REVENUE $13,800,138

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $13,779,412

Other Expenses $13,779,412

TOTAL EXPENSES $13,779,412

Year-over-Year Comparison

	2025	2024	Change
Revenue	$13,800,138	$13,853,228	0.0%
Expenses	$13,779,412	$13,227,944	+0.0%
Net Income	$20,726	$625,284	-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

N/A

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

$5,180,935

Total Directors

Key Employees

$362,159

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH P BRANNAN	EVP AND CEO	6.00	Officer	$0	$142,014	$3,522,039
LARK S JAMES	SVP AND CFO	6.00		$0	$57,669	$829,741
DOUGLAS R BROWNE	CFO	6.00	Officer	$0	$131,893	$498,294
CHARLES E BAYLESS	SVP GENERAL	6.00	Officer	$0	$126,081	$529,536
MICHAEL YOUTH	ASSIST. SEC.	6.00	Officer	$0	$74,472	$340,955
TIMOTHY DODGE	ASSIST. SEC.	6.00	Officer	$0	$78,430	$290,111
KRISTEN L ALDRIDGE	COO, NCAEC	30.00	Key Emp	$0	$88,889	$362,159
NELLE HOTCHKISS	SVP AND COO	30.00		$0	$43,877	$350,493
TAMMIE PHILLIPS	PRESIDENT	2.00	Officer Director	$0	$0	$0
WINSTON HOWELL	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
ERIC LOCKLEAR	SECRETARY-TR	2.00	Officer Director	$0	$0	$0
KATIE WOODLE	DIRECTOR	2.00	Director	$0	$0	$0
GREG ANDRESS	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM E ASKEW	DIRECTOR	2.00	Director	$0	$0	$0
TOM BATCHELOR	DIRECTOR	2.00	Director	$0	$0	$0
MARK MULLEN	DIRECTOR	2.00	Director	$0	$0	$0
JOHN CHANDLER	DIRECTOR	2.00	Director	$0	$0	$0
MARSHALL CHERRY	DIRECTOR	2.00	Director	$0	$0	$0
J DOUGLAS BRINSON	DIRECTOR	2.00	Director	$0	$0	$0
TOMMY DALRYMPLE	DIRECTOR	2.00	Director	$0	$0	$0
J MICHAEL DAVIS	DIRECTOR	2.00	Director	$0	$0	$0
RICKY MAREADY	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN E FLYTHE	DIRECTOR	2.00	Director	$0	$0	$0
DON GATTON	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS GOLDEN	DIRECTOR	2.00	Director	$0	$0	$0
KELLY HARRINGTON	DIRECTOR	2.00	Director	$0	$0	$0
KEVIN HEATH	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY BRITTAIN	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD H JOHNSON	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY B JOINES	DIRECTOR	2.00	Director	$0	$0	$0
JACOB JOPLIN	DIRECTOR	2.00	Director	$0	$0	$0
J RANDY KINLEY	DIRECTOR	2.00	Director	$0	$0	$0
CARL W KORNEGAY JR	DIRECTOR	2.00	Director	$0	$0	$0
AMY LOCK	DIRECTOR	2.00	Director	$0	$0	$0
TUCKER LEMLEY	DIRECTOR	2.00	Director	$0	$0	$0
JON T LOCKLEAR	DIRECTOR	2.00	Director	$0	$0	$0
JEFFREY LOVEN	DIRECTOR	2.00	Director	$0	$0	$0
DENNIS MABE	DIRECTOR	2.00	Director	$0	$0	$0
JAMES E MANGUM JR	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD A MIDGETT	DIRECTOR	2.00	Director	$0	$0	$0
ALLEN NELSON	DIRECTOR	2.00	Director	$0	$0	$0
EDDIE OLDHAM	DIRECTOR	2.00	Director	$0	$0	$0
JORDAN OVERBEE	DIRECTOR	2.00	Director	$0	$0	$0
KAROLINE OVERBY	DIRECTOR	2.00	Director	$0	$0	$0
JOHN L PIERCE	DIRECTOR	2.00	Director	$0	$0	$0
ELBERT RAY PITT JR	DIRECTOR	2.00	Director	$0	$0	$0
W GREG PUCKETT	DIRECTOR	2.00	Director	$0	$0	$0
FRED TEDDER	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN SISSON	DIRECTOR	2.00	Director	$0	$0	$0
ALAN ISRAEL	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTOPHER SPEARS	DIRECTOR	2.00	Director	$0	$0	$0
ALLEN W SPELLER	DIRECTOR	2.00	Director	$0	$0	$0
JOHN W SPENCE	DIRECTOR	2.00	Director	$0	$0	$0
DONALD H SPIVEY	DIRECTOR	2.00	Director	$0	$0	$0
PAUL SPRUILL	DIRECTOR	2.00	Director	$0	$0	$0
MARK A SUGGS	DIRECTOR	2.00	Director	$0	$0	$0
KENNETH THORTON JR	DIRECTOR	2.00	Director	$0	$0	$0
DENT TURNER	DIRECTOR	2.00	Director	$0	$0	$0
BASIL WILLIAMS	DIRECTOR	2.00	Director	$0	$0	$0
JOSH WINSLOW	DIRECTOR	2.00	Director	$0	$0	$0

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	$13,800,138	$13,779,412	$5,899,455	$20,726
2024	$13,853,228	$13,227,944	$4,750,377	$625,284
2023	$13,446,952	$12,822,225	$4,277,399	$624,727
2022	$12,641,993	$12,334,532	$3,534,348	$307,461
2021	$11,696,532	$11,243,421	$3,258,461	$453,111
2020	$10,764,948	$11,173,423	$2,565,642	$-408,475

NORTH CAROLINA ASSOCIATION OF ELECTRIC COOPERATIVES INC