WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE INC (EIN 590545223) - 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

1941

Legal Domicile

Principal Officer

DAVID B LAMBERT II

Phone

3525675133

Tax Period

2024-01-01 to 2024-12-31

WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE INC, founded in 1941, is a major nonprofit that reported $601.2M in total revenue in fiscal year 2024. Expenses of $576.0M left a modest 4% surplus.

Mission

THE GOAL OF THE COOPERATIVE IS TO PROVIDE EACH OF ITS MEMBERS THE BEST POSSIBLE SERVICE AT THE LOWEST COST.

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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 $586,943,577

Investment Income $13,400,028

Other Revenue $900,954

TOTAL REVENUE $601,244,559

Expense Breakdown

Grants Paid $181,469

Salaries & Benefits $3,700,108

Fundraising Expenses $0

Program Expenses $575,988,796

Other Expenses $548,901,988

TOTAL EXPENSES $575,986,025

Year-over-Year Comparison

	2024	2023	Change
Revenue	$601,244,559	$574,812,838	+0.0%
Expenses	$575,986,025	$536,323,840	+0.1%
Net Income	$25,258,534	$38,488,998	-0.3%

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

629

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

$1,512,768

Total Directors

$347,804

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATRICIA P BECHTELHEIMER	TRUSTEE	10.00	Director	$35,235	$0	$35,235
ALAN HENGESBACH	SEC'Y/TREASURER	15.00	Officer Director	$53,541	$0	$53,541
DAVID HUNNICUTT	TRUSTEE	15.00	Director	$22,600	$0	$22,600
KIMBERLY KINNEY	TRUSTEE	10.00	Director	$32,759	$0	$32,759
DESMOND G LITTLE	TRUSTEE	10.00	Director	$40,608	$0	$40,608
PAUL LITTLE	TRUSTEE	10.00	Director	$41,178	$0	$41,178
TERRENCE SCHRADER	PRESIDENT	15.00	Officer Director	$52,191	$0	$52,191
ROBERT BARTHLE	TRUSTEE	10.00	Director	$40,941	$0	$40,941
ROBERT W STRICKLAND	VICE PRESIDENT	15.00	Officer Director	$28,751	$0	$28,751
DAVID B LAMBERT II	GENERAL MANAGER	70.00	Officer	$662,267	$224,450	$886,717
RONNIE DEESE	MANAGER	50.00	Officer	$382,154	$109,414	$491,568
JOSEPH MARINA	DISTRICT MANAGER	55.00	Highest	$320,479	$37,538	$358,017
MARLIN SEXTON JR	DISTRICT MANAGER	55.00	Highest	$278,241	$113,623	$391,864
KRISTINA S WALZAK	MGR HR & JOB TRAINING & SAFETY	55.00	Highest	$277,236	$180,632	$457,868
DAVID GONZALEZ	DISTRICT MANAGER	55.00	Highest	$296,665	$41,521	$338,186
GARY F STEELE JR	MANAGER-MEMBER RELAT	60.00	Highest	$306,875	$121,209	$428,084

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	$601,244,559	$575,986,025	$1,501,239,477	$25,258,534
2023	$574,812,838	$536,323,840	$1,340,349,704	$38,488,998
2022	$584,081,760	$561,756,607	$1,278,036,654	$22,325,153
2021	$476,736,829	$465,604,862	$1,217,179,383	$11,131,967
2020	$487,757,302	$469,303,107	$1,139,078,070	$18,454,195
2019	$484,711,016	$461,563,148	$1,129,965,078	$23,147,868
2018	$482,819,489	$449,865,829	$1,068,865,945	$32,953,660

WITHLACOOCHEE RIVER ELECTRIC COOPERATIVE INC