LAURENS ELECTRIC COOPERATIVE INC (EIN 570196563) - 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

1939

Legal Domicile

Principal Officer

J DAVID WASSON

Phone

8646823141

Tax Period

2022-01-01 to 2022-12-31

LAURENS ELECTRIC COOPERATIVE INC, founded in 1939, is a major nonprofit in the Public & Societal Benefit sector that reported $148.0M in total revenue in fiscal year 2022.

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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $146,459,615

Investment Income $90,576

Other Revenue $1,484,915

TOTAL REVENUE $148,035,106

Expense Breakdown

Grants Paid $0

Salaries & Benefits $950,987

Fundraising Expenses $0

Other Expenses $144,123,146

TOTAL EXPENSES $148,035,106

Year-over-Year Comparison

	2022	2021	Change
Revenue	$148,035,106	$144,172,807	+0.0%
Expenses	$148,035,106	$144,172,807	+0.0%
Net Income	$0	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

161

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

$765,821

Total Directors

$277,267

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
J DAVID WASSON	PRESIDENT &	50.00	Officer	$493,435	$180,285	$673,720
NATHAN BROWN	VP-ENGINEER&	50.00	Highest	$219,040	$97,644	$316,684
MATTHEW D STANLEY	VP & CFO	50.00	Highest	$210,621	$96,879	$307,500
JIM DONAHOO	VP MARKETING	50.00	Highest	$193,211	$90,972	$284,183
CHAD ARMSTRONG	VP OF HUMAN	50.00	Highest	$191,773	$90,372	$282,145
CHRISTOPHER J MIERS	VP,MEMBER SE	50.00	Highest	$183,206	$87,929	$271,135
MARCUS COOK	TRUSTEE	5.00	Director	$54,804	$0	$54,804
JOE T NICHOLSON	TRUSTEE	5.00	Director	$35,819	$0	$35,819
CHARLES E ADAIR	CHAIRMAN	5.00	Officer Director	$34,496	$0	$34,496
WILLIAM HENDRIX	VICE CHAIRMA	5.00	Officer Director	$28,866	$0	$28,866
MITCHELL POWERS	SECRETARY/TR	5.00	Officer Director	$28,739	$0	$28,739
EDDIE ABRAMS	TRUSTEE	5.00	Director	$26,672	$0	$26,672
JIMMIE PERRY	TRUSTEE	5.00	Director	$25,288	$0	$25,288
WILLIE BELLE BLAKELY	TRUSTEE/DIRE	5.00	Director	$24,407	$0	$24,407
REID FISHER	TRUSTEE	5.00	Director	$18,176	$0	$18,176

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	No data	No data	No data	No data
2022	$148,035,106	$148,035,106	$289,764,029	No data
2021	$144,172,807	$144,172,807	$287,933,244	No data
2020	$139,112,722	$139,112,722	$266,679,590	No data
2019	$142,209,408	$142,209,408	$242,377,887	No data
2018	$144,879,548	$144,879,548	$225,319,700	No data

LAURENS ELECTRIC COOPERATIVE INC