Glades Electric Cooperative Inc

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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

1945

Legal Domicile

Principal Officer

Jeffery R Brewington

Phone

8639466200

Tax Period

2024-01-01 to 2024-12-31

Glades Electric Cooperative Inc, founded in 1945, is a mid-sized nonprofit that reported $61.8M in total revenue in fiscal year 2024.

Mission

TO PROVIDE EXCEPTIONAL SERVICE

Program Service Accomplishments

Program 1

UTILIZING 2,685 MILES OF ELECTRIC DISTRIBUTION AND TRANSMISSION LINES, GLADES ELECTRIC COOPERATIVE, INC. PROVIDED ELECTRICITY TO APPROXIMATELY 18,532 RESIDENTIAL, COMMERCIAL AND INDUSTRIAL ACCOUNTS...

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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 $59,216,649

Investment Income $107,497

Other Revenue $2,431,139

TOTAL REVENUE $61,755,285

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,725,167

Fundraising Expenses $0

Other Expenses $52,308,451

TOTAL EXPENSES $61,755,285

Year-over-Year Comparison

	2024	2023	Change
Revenue	$61,755,285	$58,797,465	+0.1%
Expenses	$61,755,285	$56,458,965	+0.1%
Net Income	$0	$2,338,500	-1.0%

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

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

$1,764,789

Total Directors

$136,087

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jeffery R Brewington	CEO	60.00	Officer	$450,428	$130,618	$581,046
Michael Roberge	Chief Operating Officer	50.00	Officer	$223,369	$74,154	$297,523
Jennifer Manning	Chief Financial Officer	50.00	Officer	$160,261	$68,306	$228,567
Jesse Wallace	Chief Technology Officer	50.00	Officer	$185,143	$34,350	$219,493
Jacob Whidden	Lead Linemen	55.00	Highest	$162,716	$26,600	$189,316
Horacio Pardo	Lead Lineman	56.00	Highest	$158,241	$25,015	$183,256
Jennifer Koukos	Chief Communication Officer	48.00	Officer	$129,487	$38,995	$168,482
Courtney Brown	Chief Personnel Officer	50.00	Officer	$136,202	$25,139	$161,341
Cory Gallimore	Lead Lineman	51.00	Highest	$134,117	$20,328	$154,445
David Rice	Lead Lineman	50.00	Highest	$129,789	$24,631	$154,420
Jacob Jones	Journeyman Linemen	51.00	Highest	$135,691	$7,163	$142,854
T Renee Bass	CAO	48.00	Officer	$83,524	$24,813	$108,337
Lee Henderson	Trustee	12.00	Director	$19,750	$0	$19,750
Barney Goodman	Trustee	10.00	Director	$17,250	$0	$17,250
Shannon Hall	Trustee	5.00	Director	$15,500	$0	$15,500
Michael Pressley	Trustee	8.00	Director	$14,750	$0	$14,750
Fred Tagtmeier	Trustee	5.00	Director	$14,250	$0	$14,250
Brad Oxer	Trustee	4.00	Director	$14,000	$0	$14,000
Roy Lundy	Trustee	8.00	Director	$13,750	$0	$13,750
Angela Hodges	Trustee	6.00	Director	$13,000	$0	$13,000
John Coxe	Trustee	8.00	Director	$8,500	$0	$8,500
Vicki Pontius	Trustee	9.00	Director	$5,337	$0	$5,337

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
2025	No data	No data	No data	No data
2024	$61,755,285	$61,755,285	$261,855,861	No data
2023	$58,797,465	$56,458,965	$207,301,724	$2,338,500
2022	$56,574,732	$56,375,982	$177,853,000	$198,750
2021	$48,091,889	$47,397,934	$161,782,312	$693,955
2020	$46,888,081	$47,232,540	$149,633,002	$-344,459
2019	$47,364,417	$47,383,258	$145,849,080	$-18,841
2018	$47,055,059	$47,060,570	$146,970,654	$-5,511