FLORIDA ELECTRIC COOPERATIVES ASSOCIATION INC (EIN 590633990) - 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

1964

Legal Domicile

Principal Officer

MICHEL L BJORKLUND

Phone

8508776166

Tax Period

2024-01-01 to 2024-12-31

FLORIDA ELECTRIC COOPERATIVES ASSOCIATION INC, founded in 1964, is a community nonprofit that reported $2.8M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $2.6M left a modest 6% surplus.

Mission

TO EFFECTIVELY REPRESENT OUR MEMBERS IN STATE LEGISLATIVE AND REGULATORY ACTIVITIES, AND IN FEDERAL LEGISLATIVE ACTIVITIES; TO ASSIST MEMBERS STATEWIDE WHEN DISASTER STRIKES; AND TO PROVIDE A SELF-SUPPORTED SERVICE THAT OUR MEMBERS DESIRE.

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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 $2,540,806

Investment Income $92,750

Other Revenue $120,276

TOTAL REVENUE $2,753,832

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,402,837

Fundraising Expenses $0

Other Expenses $1,183,671

TOTAL EXPENSES $2,586,508

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,753,832	$3,129,050	-0.1%
Expenses	$2,586,508	$2,593,929	0.0%
Net Income	$167,324	$535,121	-0.7%

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

$659,587

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RANDY SHAW	PRESIDENT	3.00	Officer Director	$0	$0	$0
TERRY PILCHER	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
JULIUS HACKETT	SECRETARY	3.00	Officer Director	$0	$0	$0
TYLER PUTNAL	TREASURER	3.00	Officer Director	$0	$0	$0
JOE ALEXANDER	DIRECTOR	3.00	Director	$0	$0	$0
JOHN BARTLEY	DIRECTOR	3.00	Director	$0	$0	$0
BRADY BEARDEN	DIRECTOR	3.00	Director	$0	$0	$0
CRAIG BELCHER	DIRECTOR	3.00	Director	$0	$0	$0
TRACY BENSLEY	DIRECTOR	3.00	Director	$0	$0	$0
JEFF BREWINGTON	DIRECTOR	3.00	Director	$0	$0	$0
RYAN CAMPBELL	DIRECTOR	3.00	Director	$0	$0	$0
WAYNE COMBS	DIRECTOR	3.00	Director	$0	$0	$0
JAMIE GIDDONS	DIRECTOR	3.00	Director	$0	$0	$0
LEE HENDERSON	DIRECTOR	3.00	Director	$0	$0	$0
ALAN HENGESBACH	DIRECTOR	3.00	Director	$0	$0	$0
LISA JOHNSON	DIRECTOR	3.00	Director	$0	$0	$0
DAVID LAMBERT	DIRECTOR	3.00	Director	$0	$0	$0
CARL MALPHURS	DIRECTOR	3.00	Director	$0	$0	$0
JAMES MCCAIN	DIRECTOR	3.00	Director	$0	$0	$0
MIKE MCWATERS	DIRECTOR	3.00	Director	$0	$0	$0
ALAN MIKELL	DIRECTOR	3.00	Director	$0	$0	$0
SCOTT NEWBERRY	DIRECTOR	3.00	Director	$0	$0	$0
RUSSELL PRIDDY	DIRECTOR	3.00	Director	$0	$0	$0
SUSAN REEVES	DIRECTOR	3.00	Director	$0	$0	$0
STEVE RHODES	DIRECTOR	3.00	Director	$0	$0	$0
GARY SMITH	DIRECTOR	3.00	Director	$0	$0	$0
KELLY SMITH	DIRECTOR	3.00	Director	$0	$0	$0
DENISE VIDAL	DIRECTOR	3.00	Director	$0	$0	$0
GEORGE WEBB	DIRECTOR	3.00	Director	$0	$0	$0
DALE WESTMORELAND	DIRECTOR	3.00	Director	$0	$0	$0
RUPERT BROWN	DIRECTOR AS OF 6/6/2024	3.00	Director	$0	$0	$0
JACKIE POOSER	DIRECTOR AS OF 6/6/2024	3.00	Director	$0	$0	$0
SHANNON WRIGHT	DIRECTOR AS OF 6/6/2024	3.00	Director	$0	$0	$0
CURTIS WYNN	DIRECTOR AS OF 6/6/2024	3.00	Director	$0	$0	$0
WILLIE DAWES	DIRECTOR AS OF 12/4/2024	3.00	Director	$0	$0	$0
TIM ALFORD	DIRECTOR UNTIL 6/6/2024	3.00	Director	$0	$0	$0
EDDIE JONES	DIRECTOR UNTIL 6/6/2024	3.00	Director	$0	$0	$0
JOSEPH KUZIAK	DIRECTOR UNTIL 6/6/2024	3.00	Director	$0	$0	$0
MICHAEL MUFFET	DIRECTOR UNTIL 6/6/2024	3.00	Director	$0	$0	$0
SHAWN WALLING	DIRECTOR UNTIL 10/5/2024	3.00	Director	$0	$0	$0
ELLEN BACHMAN	DIRECTOR UNTIL 12/4/2024	3.00	Director	$0	$0	$0
JUNIOR SMITH	DIRECTOR UNTIL 12/4/2024	3.00	Director	$0	$0	$0
JOHN ADAMS	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
RICKY DAVIS	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
GERALD EDMONDSON	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
DENNY GEORGE	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
BARNEY GOODMAN	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
CHAUNCEY GOSS	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
ANN HERRING	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
GRETCHEN HOLLAND	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
JOHN MIDDLETON	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
DAVID MILLER	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
ANDY WALKER	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
GARY WIGGINS	ALTERNATE DIRECTOR	1.00	Director	$0	$0	$0
MICHEL L BJORKLUND	EXECUTIVE VICE PRESIDENT	60.00	Officer	$358,649	$126,133	$484,782
JEFFREY BANKA	DIRECTOR OF ACCOUNTING	40.00	Officer	$123,187	$51,618	$174,805
ANDREW B LOVE	DIRECTOR OF GOVERNMENT AFF	40.00	Highest	$160,254	$47,215	$207,469
ALISIA HOUNSHELL	DIRECTOR OF STATEWIDE COMMUNICATIONS	40.00	Highest	$113,383	$46,863	$160,246
FORREST BOONE	DIRECTOR OF REGULATORY AFF	40.00	Highest	$169,009	$65,712	$234,721

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	$2,753,832	$2,586,508	$2,034,466	$167,324
2023	$3,129,050	$2,593,929	$1,740,793	$535,121
2022	$2,350,134	$2,195,133	$1,525,495	$155,001
2021	$1,997,692	$2,023,310	$1,592,997	$-25,618
2020	$1,796,904	$1,783,222	$1,683,127	$13,682
2019	$2,055,294	$2,102,719	$1,760,571	$-47,425
2018	$1,945,355	$2,249,781	$1,115,102	$-304,426

FLORIDA ELECTRIC COOPERATIVES ASSOCIATION INC