MEADE COUNTY RURAL ELECTRIC COOPERATIVE CORPORATION (EIN 610277343) - 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

MARTIN LITTREL

Phone

2704222162

Tax Period

2024-01-01 to 2024-12-31

MEADE COUNTY RURAL ELECTRIC COOPERATIVE CORPORATION, founded in 1937, is a mid-sized nonprofit that reported $86.6M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion.

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 31,485 CONSUMERS MONTHLY.

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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 $85,829,188

Investment Income $241,943

Other Revenue $567,818

TOTAL REVENUE $86,638,949

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,350,103

Fundraising Expenses $0

Program Expenses $86,638,949

Other Expenses $77,648,045

TOTAL EXPENSES $86,638,949

Year-over-Year Comparison

	2024	2023	Change
Revenue	$86,638,949	$74,643,147	+0.2%
Expenses	$86,638,949	$74,643,147	+0.2%
Net Income	$0	$0	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

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

$676,791

Total Directors

$83,468

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GREG HARDESTY	DIRECTOR	8.00	Director	$11,632	$0	$11,632
DR JAMES G SILLS	VICE CHAIRMAN	8.00	Officer Director	$10,610	$0	$10,610
DARLA SIPES	SECRETARY/TREASURER	10.00	Officer Director	$19,965	$0	$19,965
DAVID T WILSON II	DIRECTOR	8.00	Director	$11,132	$0	$11,132
PAUL EDD BUTLER	DIRECTOR	10.00	Director	$9,115	$0	$9,115
CHRISTOPHER CREECH	DIRECTOR	8.00	Director	$11,632	$0	$11,632
STEPHEN BARR	CHAIRMAN	10.00	Officer Director	$9,382	$0	$9,382
MARTIN LITTREL	PRESIDENT/CEO	60.00	Officer	$360,326	$60,985	$421,311
ANNA SWANSON	CFO	50.00	Officer	$180,817	$34,706	$215,523
CHARLES MATTINGLY	JOURNEYMAN LINEMAN	49.00	Highest	$132,600	$20,272	$152,872
MICHAEL FRENCH	VP OF ENGINEERING	50.00	Highest	$146,733	$63,395	$210,128
TODD BLACKBURN	VP CORPORATE COMPLIANCE	50.00	Highest	$144,930	$25,029	$169,959
KELLY NICHOLS	FOREMAN LINEMAN	49.00	Highest	$127,384	$20,047	$147,431
JOHN CROSIER	DIRECTOR OF OPERATIONS	50.00	Highest	$123,100	$21,294	$144,394

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	$86,638,949	$86,638,949	$114,152,123	No data
2023	$74,643,147	$74,643,147	$114,736,795	No data
2022	$68,475,133	$68,475,133	$116,049,029	No data
2021	$56,068,538	$56,068,538	$114,856,547	No data
2020	$52,512,211	$52,512,211	$116,075,331	No data
2019	$55,880,201	$55,880,201	$117,432,757	No data
2018	$59,758,606	$59,208,333	$115,491,506	$550,273

MEADE COUNTY RURAL ELECTRIC COOPERATIVE CORPORATION