BLACK RIVER ELECTRIC COOPERATIVE I… - Form 990 Financial Data

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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

1939

Legal Domicile

Principal Officer

KENNETH T CARTER

Phone

8034698060

Tax Period

2024-01-01 to 2024-12-31

BLACK RIVER ELECTRIC COOPERATIVE INC, founded in 1939, is a mid-sized nonprofit that reported $91.4M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE RURAL AND URBAN AREAS WITHIN THE COOPERATIVES'S ASSIGNED SERVICE TERRITORY WITH RELIABLE, AFFORDABLE ELECTRICITY WHILE ALSO PROVIDING MEMBERS WITH EXCELLENT CUSTOMER SERVICE.

Program Service Accomplishments

Program 1

TO PROVIDE RURAL AND URBAN AREAS WITHIN THE COOPERATIVE'S ASSIGNED SERVICE TERRITORY WITH RELIABLE AND AFFORDABLE ELECTRICITY WHILE ALSO PROVIDINGS ITS MEMBERS WITH EXCELLENT CUSTOMER SERVICE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $91,006,375

Investment Income $458,275

Other Revenue $-19,073

TOTAL REVENUE $91,445,577

Expense Breakdown

Grants Paid $0

Salaries & Benefits $505,155

Fundraising Expenses $0

Other Expenses $82,232,695

TOTAL EXPENSES $90,883,829

Year-over-Year Comparison

	2024	2023	Change
Revenue	$91,445,577	$84,028,518	+0.1%
Expenses	$90,883,829	$83,588,926	+0.1%
Net Income	$561,748	$439,592	+0.3%

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

$398,132

Total Directors

$180,548

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH T CARTER	CEO	50.00	Officer	$251,445	$73,163	$324,608
JAMES F MOYE	COO	50.00	Highest	$178,015	$24,479	$202,494
SHAKEMA S WHITE	VP SUPPORT S	50.00	Highest	$145,334	$52,586	$197,920
TRACY GEDDINGS	OPS. SUPERIN	50.00	Highest	$134,246	$62,791	$197,037
TAIWAN T SIMMONS	CREW FOREMAN	50.00	Highest	$129,372	$48,869	$178,241
LINSEY ROBINSON	CREW FOREMAN	50.00	Highest	$136,856	$41,070	$177,926
CHARLES R ALLEN	CEO-EMERITUS	N/A		$27,984	$10,274	$38,258
CAREN SCHWARTZ	VICE CHAIR-T	12.50	Officer Director	$28,108	$0	$28,108
MARY B SHERIDAN	CHAIR-TRUST	10.00	Officer Director	$24,958	$0	$24,958
IVAN SANDERS	TRUSTEE	10.00	Director	$23,158	$0	$23,158
JULIAN DIXON JR	CHAPLAIN-TRU	10.00	Director	$22,258	$0	$22,258
RONALD FOUNTAIN	TRUSTEE	10.00	Director	$20,736	$0	$20,736
THOMAS DURANT	SECRETARY-TR	10.00	Officer Director	$20,458	$0	$20,458
DAVID L TINDAL	TRUSTEE	5.00	Director	$17,308	$0	$17,308
DR RONALD PRESTAGE	TRUSTEE	5.00	Director	$12,358	$0	$12,358
DWAYNE EDWARDS	TRUSTEE	5.00	Director	$11,206	$0	$11,206

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	No data	No data	No data	No data
2024	$91,445,577	$90,883,829	$133,206,928	$561,748
2023	$84,028,518	$83,588,926	$117,310,262	$439,592
2022	$81,509,499	$81,063,934	$117,414,050	$445,565
2021	$78,967,679	$78,797,917	$113,858,929	$169,762
2020	$76,630,599	$76,630,599	$113,057,071	No data
2019	$81,015,427	$81,015,427	$105,705,618	No data
2018	$82,587,386	$82,587,386	$95,905,586	No data

BLACK RIVER ELECTRIC COOPERATIVE INC