HART ELECTRIC MEMBERSHIP CORPORATION (EIN 580280657) - 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

1937

Legal Domicile

Principal Officer

JEFFREY W MURPHY

Phone

8002414109

Tax Period

2024-01-01 to 2024-12-31

HART ELECTRIC MEMBERSHIP CORPORATION, founded in 1937, is a mid-sized nonprofit that reported $91.7M in total revenue in fiscal year 2024. Revenue grew 8% 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 $88,119,414

Investment Income $3,551,940

Other Revenue $0

TOTAL REVENUE $91,671,354

Expense Breakdown

Grants Paid $0

Salaries & Benefits $605,014

Fundraising Expenses $0

Other Expenses $80,371,925

TOTAL EXPENSES $91,671,354

Year-over-Year Comparison

	2024	2023	Change
Revenue	$91,671,354	$84,757,035	+0.1%
Expenses	$91,671,354	$84,757,035	+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

121

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

$566,464

Total Directors

$94,050

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GALEN MILLS	CHAIRMAN	5.00	Officer Director	$11,200	$0	$11,200
GUERRY HALL	VICE CHAIRMA	5.00	Officer Director	$11,650	$0	$11,650
KAY REED	SEC.-TREAS.	5.00	Officer Director	$18,575	$0	$18,575
DONNIE A CORDELL	DIRECTOR	5.00	Officer Director	$14,075	$0	$14,075
WILLIAM M LEARD	DIRECTOR	5.00	Director	$12,100	$0	$12,100
DAVID M FLEMING	DIRECTOR	5.00	Director	$14,800	$0	$14,800
ROBYN VAUGHN	DIRECTOR	5.00	Director	$7,800	$0	$7,800
JOHN M PEEPLES	DIRECTOR	5.00	Director	$3,850	$0	$3,850
JEFFREY W MURPHY	PRESIDENT &	50.00	Officer	$404,685	$106,279	$510,964
JOEL K BROWN	CHIEF OPER.	50.00	Highest	$275,997	$89,510	$365,507
GLENN CLEVELAND	ENGINEERING	50.00	Highest	$170,764	$62,567	$233,331
EDWARD HOY	VP ENGINEERI	50.00	Highest	$172,745	$51,799	$224,544
ALLEN BOND	SENIOR MANAG	50.00	Highest	$150,897	$58,752	$209,649
TIMOTHY M ADAMS	PROGRAMMER	50.00	Highest	$174,844	$63,441	$238,285

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	$91,671,354	$91,671,354	$283,392,078	No data
2023	$84,757,035	$84,757,035	$255,268,022	No data
2022	$87,122,217	$87,122,217	$242,758,316	No data
2021	$84,026,536	$84,026,536	$227,728,767	No data
2020	$80,237,450	$80,237,450	$227,687,212	No data
2019	$83,157,240	$83,157,240	$213,929,296	No data
2018	$82,527,096	$82,527,096	$191,313,457	No data

HART ELECTRIC MEMBERSHIP CORPORATION