BLUE RIDGE ELECTRIC COOPERATIVE INC (EIN 570125510) - 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

JAMES LOVINGGOOD

Phone

8648786326

Tax Period

2023-01-01 to 2023-12-31

BLUE RIDGE ELECTRIC COOPERATIVE INC, founded in 1940, is a major nonprofit that reported $178.7M in total revenue in fiscal year 2023.

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $178,584,343

Investment Income $174,425

Other Revenue $-39,147

TOTAL REVENUE $178,719,621

Expense Breakdown

Grants Paid $0

Salaries & Benefits $993,305

Fundraising Expenses $0

Other Expenses $189,226,753

TOTAL EXPENSES $190,220,058

Year-over-Year Comparison

	2023	2022	Change
Revenue	$178,719,621	$180,062,478	0.0%
Expenses	$190,220,058	$180,062,478	+0.1%
Net Income	$-11,500,437	N/A	N/A

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

209

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

$761,042

Total Directors

$406,678

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES LOVINGGOOD	PRESIDENT &	50.00	Officer	$481,126	$105,501	$586,627
DAVID COLLINS	VP FINANCE	50.00	Highest	$327,070	$88,630	$415,700
SAMUEL MCMILLAN	VP OPERATION	50.00	Highest	$321,755	$86,909	$408,664
DENISE MCCORMICK	VP MEMBER SE	50.00	Highest	$296,709	$80,748	$377,457
ZACH HINTON	VP OF BROADB	50.00	Highest	$269,639	$77,157	$346,796
MARK WATERS	VP ENGINEERI	50.00	Highest	$254,253	$81,217	$335,470
JIMMY LEE DODGENS	TRUSTEE	5.00	Director	$55,913	$0	$55,913
JOEL R DAVIS	TRUSTEE	5.00	Director	$53,940	$0	$53,940
LEN TALLEY	VICE CHAIRMA	5.00	Officer Director	$52,369	$0	$52,369
KENNETH SOUTHERLIN	TRUSTEE	5.00	Director	$52,085	$0	$52,085
MENDEL STONE	TREASURER	5.00	Officer Director	$51,913	$0	$51,913
J SPENCER DALTON	CHAIRMAN	5.00	Officer Director	$51,470	$0	$51,470
WILLIAM G ELROD	TRUSTEE	5.00	Director	$48,613	$0	$48,613
WILLIAM ANDERSON	TRUSTEE	5.00	Director	$21,712	$0	$21,712
FRANKLIN M LOOPER JR	SECRETARY	5.00	Officer Director	$18,663	$0	$18,663

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	$178,719,621	$190,220,058	$521,171,594	$-11,500,437
2022	$180,062,478	$180,062,478	$468,943,378	No data
2021	$161,177,852	$161,807,311	$400,749,868	$-629,459
2020	$154,190,330	$153,647,075	$367,130,472	$543,255
2019	$155,704,978	$151,167,596	$348,122,540	$4,537,382
2018	$157,621,122	$156,759,281	$331,427,437	$861,841

BLUE RIDGE ELECTRIC COOPERATIVE INC