CENTRAL FLORIDA ELECTRIC COOPERATIVE INC (EIN 590188973) - 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

DENNY GEORGE

Phone

8002271302

Tax Period

2023-01-01 to 2023-12-31

CENTRAL FLORIDA ELECTRIC COOPERATIVE INC, founded in 1939, is a mid-sized nonprofit that reported $75.1M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year.

Mission

CENTRAL FLORIDA ELECTRIC COOPERATIVE, INC. (CFEC) IS A COMMUNITY ORIENTED,MEMBER-OWNED COOPERATIVE THAT PROVIDES RELIABLE SERVICE TO ITS MEMBERS-OWNERS AT THE LOWEST RATE POSSIBLE, WHILE BEING FISCALLY AND ENVIRONMENTALLY RESPONSIBLE. TO BE THE FINEST EXAMPLE OF AN ELECTRIC COOPERATIVE WHERE EXCELLENT SERVICE, COMPETITIVE RATES AND CONCERN FOR THE CONSUMER, COMMUNITY AND ENVIRONMENT GUIDE OUR EVERY ACTION.

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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 $74,322,045

Investment Income $746,561

Other Revenue $0

TOTAL REVENUE $75,068,606

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,641,277

Fundraising Expenses $0

Other Expenses $71,100,951

TOTAL EXPENSES $73,789,133

Year-over-Year Comparison

	2023	2022	Change
Revenue	$75,068,606	$82,660,488	-0.1%
Expenses	$73,789,133	$81,880,805	-0.1%
Net Income	$1,279,473	$779,683	+0.6%

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

126

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

$1,561,127

Total Directors

$140,600

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOUSTON MARKAM	TRUSTEE	8.00	Director	$15,200	$0	$15,200
KYLE QUINCEY	TRUSTEE	5.00	Director	$12,050	$0	$12,050
TONY WEEKS	TRUSTEE	6.00	Director	$14,050	$0	$14,050
DONALD LANE	TRUSTEE	10.00	Director	$11,600	$0	$11,600
ALAN MIKELL	TRUSTEE/SECRETARY	7.00	Officer Director	$23,750	$0	$23,750
KENNETH O'STEEN	TRUSTEE	4.00	Director	$14,100	$0	$14,100
CARL ROOF SR	TRUSTEE/VICE PRESIDENT	10.00	Officer Director	$20,150	$0	$20,150
BARBARA TOWNSEND	TRUSTEE/DECSD 2023	4.00	Director	$1,600	$0	$1,600
JAMES MCCAIN	TRUSTEE/PRESIDENT	8.00	Officer Director	$16,550	$0	$16,550
LARRY THOMPSON	TRUSTEE	7.00	Director	$11,550	$0	$11,550
KIMBERLY BAXLEY	VP, SAFETY & HR	40.00	Officer	$176,972	$38,642	$215,614
GEORGE BUCKNER	CHIEF INFORMATION OFFICER	40.00	Officer	$150,021	$59,352	$209,373
JOEL D GEORGE	EXECUTIVE VP/GENERAL MANAG	40.00	Officer	$347,975	$94,187	$442,162
ROBERT D KREFTING	ENTERPRISE CFO	40.00	Officer	$184,537	$53,712	$238,249
JAMES BEAUCHAMP	VP OPERATIONS	40.00	Officer	$140,285	$56,468	$196,753
DANIEL POWELL	VP ENGINEERING	40.00	Officer	$140,409	$58,117	$198,526
KLINT WOOD	CREW SUPERVISOR	40.00	Highest	$176,887	$46,937	$223,824
LESTER ALDRICH	CREW SUPERVISOR	40.00	Highest	$140,984	$34,695	$175,679
MATTHEW MILLER	CREW SUPERVISOR	40.00	Highest	$137,000	$34,193	$171,193
TRAVIS SMITH	LINE TECHNICIAN	40.00	Highest	$145,686	$41,255	$186,941

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	$75,068,606	$73,789,133	$223,844,705	$1,279,473
2022	$82,660,488	$81,880,805	$182,366,640	$779,683
2021	$67,342,148	$67,197,098	$145,913,445	$145,050
2020	$66,469,784	$64,823,028	$141,542,916	$1,646,756
2019	$65,149,250	$64,849,335	$135,873,417	$299,915
2018	$66,530,908	$65,212,038	$131,685,159	$1,318,870

CENTRAL FLORIDA ELECTRIC COOPERATIVE INC