CANOOCHEE ELECTRIC MEMBERSHIP CORP (EIN 580182756) - 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

1938

Legal Domicile

Principal Officer

MICHAEL WASSON

Phone

9125574391

Tax Period

2024-01-01 to 2024-12-31

CANOOCHEE ELECTRIC MEMBERSHIP CORP, founded in 1938, is a mid-sized nonprofit that reported $77.5M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $77,477,716

Investment Income $41,286

Other Revenue $0

TOTAL REVENUE $77,519,002

Expense Breakdown

Grants Paid $0

Salaries & Benefits $521,421

Fundraising Expenses $0

Program Expenses $77,519,002

Other Expenses $71,934,484

TOTAL EXPENSES $77,519,002

Year-over-Year Comparison

	2024	2023	Change
Revenue	$77,519,002	$69,238,946	+0.1%
Expenses	$77,519,002	$69,238,946	+0.1%
Net Income	$0	$0	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

131

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

$459,971

Total Directors

$119,050

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CONNIE THRIFT	DIRECTOR/PRESIDENT	22.00	Officer Director	$17,300	$0	$17,300
ROBERT H FLOYD	DIRECTOR/VICE PRESIDENT	14.00	Officer Director	$12,550	$0	$12,550
LANELL M OLIVER	DIRECTOR/SECRETARY	15.00	Officer Director	$12,350	$0	$12,350
ROBERT E DASHER	DIRECTOR	9.00	Director	$10,250	$0	$10,250
LAVANDA LYNN	DIRECTOR	15.00	Director	$15,800	$0	$15,800
KIMBERLY S BLOCKER	DIRECTOR/TREASURER	20.00	Officer Director	$15,400	$0	$15,400
MARVIN E BRADLEY JR	DIRECTOR	10.00	Director	$11,000	$0	$11,000
KENNETH L DURRENCE	DIRECTOR	12.00	Director	$11,450	$0	$11,450
BERNARD PURVIS	DIRECTOR	10.00	Director	$12,950	$0	$12,950
MICHAEL WASSON	CEO	50.00	Officer	$286,993	$115,378	$402,371
LOU ANN PHILLIPS	CEO - RETIRED	23.00	Highest	$181,014	$25,484	$206,498
HUGH GARRETT DURRENCE	LINEMAN	77.00	Highest	$198,412	$44,976	$243,388
MATHEW H OLSON	CFO	50.00	Highest	$199,708	$33,480	$233,188
JOSEPH ANDY WHITEN	COO	50.00	Highest	$201,302	$94,001	$295,303
PATRICK BURKHALTER JR	CAO	50.00	Highest	$182,282	$28,133	$210,415

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	$77,519,002	$77,519,002	$199,238,735	No data
2023	$69,238,946	$69,238,946	$174,923,872	No data
2022	$66,658,751	$68,029,915	$163,781,332	$-1,371,164
2021	$61,839,932	$61,839,932	$153,525,555	No data
2020	$61,054,883	$61,054,883	$146,205,325	No data
2019	$62,181,846	$62,181,846	$138,449,160	No data
2018	$59,078,426	$59,078,426	$134,160,202	No data

CANOOCHEE ELECTRIC MEMBERSHIP CORP