MID-CAROLINA ELECTRIC COOPERATIVE ATTN THERESA CREPES (EIN 570210417) - 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

B ROBERT PAULLING

Phone

8037496468

Tax Period

2024-01-01 to 2024-12-31

MID-CAROLINA ELECTRIC COOPERATIVE ATTN THERESA CREPES, founded in 1940, is a major nonprofit that reported $157.8M in total revenue in fiscal year 2024. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

WE DELIVER RELIABLE, COST EFFICIENT UTILITIES AND INNOVATIVE SOLUTIONS TO OUR 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $157,555,224

Investment Income $215,910

Other Revenue $0

TOTAL REVENUE $157,771,134

Expense Breakdown

Grants Paid $0

Salaries & Benefits $814,288

Fundraising Expenses $0

Other Expenses $147,328,437

TOTAL EXPENSES $157,771,134

Year-over-Year Comparison

	2024	2023	Change
Revenue	$157,771,134	$144,829,639	+0.1%
Expenses	$157,771,134	$144,829,639	+0.1%
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

176

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

$717,920

Total Directors

$182,516

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARVIN SOX	CHAIRMAN	4.22	Officer Director	$26,824	$0	$26,824
ALAN LUNSFORD	VICE CHAIRMA	3.52	Officer Director	$14,669	$0	$14,669
CLIFFORD SHEALY	TRUSTEE-RET.	2.57	Director	$10,193	$0	$10,193
J ALLAN RISINGER	TREASURER	3.66	Officer Director	$13,169	$0	$13,169
DONETTE KIRKLAND	SECRETARY	4.47	Officer Director	$31,485	$0	$31,485
CAREY BEDENBAUGH	TRUSTEE	3.46	Director	$14,756	$0	$14,756
JUSTIN WATTS	TRUSTEE	2.85	Director	$38,563	$0	$38,563
EDDIE BEST	TRUSTEE	2.54	Director	$13,669	$0	$13,669
KENNETH LINDLER	TRUSTEE	2.11	Director	$8,669	$0	$8,669
MARK SVRCEK	TRUSTEE	2.55	Director	$10,519	$0	$10,519
B ROBERT PAULLING	PRESIDENT &	50.00	Officer	$446,056	$185,717	$631,773
THERESA CREPES	CFO	50.00	Highest	$283,142	$137,349	$420,491
TROY SIMPSON	VP - MEMBER	50.00	Highest	$254,533	$137,859	$392,392
BOBBY WILBUR	VP - OPERATI	50.00	Highest	$226,466	$134,317	$360,783
STEVE DAVIDSON	VP- INFORMAT	50.00	Highest	$188,673	$117,748	$306,421
LEE AYERS	VP - ENGINEE	50.00	Highest	$281,122	$42,635	$323,757

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	$157,771,134	$157,771,134	$403,878,706	No data
2023	$144,829,639	$144,829,639	$368,946,763	No data
2022	$148,136,586	$148,136,586	$329,734,139	No data
2021	$130,746,610	$130,746,610	$316,005,069	No data
2020	$129,212,311	$129,212,311	$301,678,019	No data
2019	$132,579,704	$132,579,704	$293,514,199	No data
2018	$132,913,236	$132,913,236	$282,494,662	No data

MID-CAROLINA ELECTRIC COOPERATIVE ATTN THERESA CREPES