SHELBY ENERGY COOPERATIVE (EIN 610337665) - 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

SAME AS ABOVE

Phone

5026334420

Tax Period

2023-01-01 to 2023-12-31

SHELBY ENERGY COOPERATIVE, founded in 1937, is a mid-sized nonprofit that reported $53.5M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. PROVIDE ELECTRIC SERVICE TO OVER 17,830 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $51,259,784

Investment Income $170,820

Other Revenue $2,069,788

TOTAL REVENUE $53,500,392

Expense Breakdown

Grants Paid $3,000

Salaries & Benefits $3,245,229

Fundraising Expenses $0

Other Expenses $50,078,296

TOTAL EXPENSES $53,500,392

Year-over-Year Comparison

	2023	2022	Change
Revenue	$53,500,392	$57,952,933	-0.1%
Expenses	$53,500,392	$57,952,933	-0.1%
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

$28,600

Total Directors

$88,243

Key Employees

$218,528

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAT HARGADON	DIRECTOR	2.00	Director	$14,890	$0	$14,890
ASHLEY CHILTON	CHAIRMAN	2.00	Officer Director	$14,300	$0	$14,300
ROGER TAYLOR	SEC/TREAS	2.00	Officer Director	$14,300	$0	$14,300
DIANA ARNOLD	DIRECTOR	2.00	Director	$14,553	$0	$14,553
WAYNE STRATTON	DIRECTOR	2.00	Director	$14,300	$0	$14,300
JEFFREY JOYCE	DIRECTOR	2.00	Director	$15,900	$0	$15,900
JACK BRAGG JR	PRESIDENT & CEO	50.00	Key Emp	$213,942	$4,586	$218,528
JASON GINN	OPERATIONS/CONTRACT RESOUR	50.00	Highest	$135,317	$63,619	$198,936
RANDY STEVENS	SVP POWER DELIVERY SERVICE	50.00	Highest	$140,565	$34,847	$175,412
RICHARD SPOONAMORE	LEAD LINE TECHNICIAN	48.00	Highest	$119,770	$39,223	$158,993
KELLY MICHELS	LEAD LINE TECHNICIAN	50.00	Highest	$121,393	$42,186	$163,579
DYLAN STAPLES	ENGINEERING MANAGER	50.00	Highest	$123,118	$16,789	$139,907

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	$53,500,392	$53,500,392	$143,497,321	No data
2022	$57,952,933	$57,952,933	$137,224,148	No data
2021	$48,869,118	$48,869,118	$128,023,912	No data
2020	$44,032,414	$44,032,414	$122,000,867	No data
2019	$48,466,176	$48,466,176	$117,387,080	No data
2018	$49,442,564	$49,442,564	$113,345,020	No data

SHELBY ENERGY COOPERATIVE