SOUTH KENTUCKY RURAL ELECTRIC COOPERATIVE CORPORATION (EIN 610344362) - 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

1938

Legal Domicile

Phone

6066784121

Tax Period

2023-01-01 to 2023-12-31

SOUTH KENTUCKY RURAL ELECTRIC COOPERATIVE CORPORATION, founded in 1938, is a major nonprofit that reported $153.5M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

PROVIDE ELECTRICITY TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 70,514 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 $147,117,464

Investment Income $1,609,306

Other Revenue $4,799,418

TOTAL REVENUE $153,526,188

Expense Breakdown

Grants Paid $7,000

Salaries & Benefits $20,083,536

Fundraising Expenses $0

Program Expenses $153,526,188

Other Expenses $132,117,287

TOTAL EXPENSES $153,526,188

Year-over-Year Comparison

	2023	2022	Change
Revenue	$153,526,188	$167,099,707	-0.1%
Expenses	$153,526,188	$167,099,707	-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

154

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

$1,044,120

Total Directors

$160,419

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CATHY EPPERSON	CHAIRPERSON	10.00	Officer Director	$31,617	$0	$31,617
BORIS HAYNES	SEC/TREASURER	8.00	Officer Director	$31,877	$0	$31,877
RICK HALLORAN	DIRECTOR	5.00	Director	$12,879	$0	$12,879
BRENT TACKETT	VICE CHAIRPERSON	6.00	Officer Director	$24,341	$0	$24,341
GREG REDMON	DIRECTOR	10.00	Director	$20,235	$0	$20,235
THOMAS M NELSON JR	DIRECTOR	8.00	Director	$23,943	$0	$23,943
CHARLES HANSFORD	DIRECTOR	3.00	Director	$15,527	$0	$15,527
JOHN NEWTON	COO & CEO	40.00	Officer	$226,851	$78,983	$305,834
MARK GOSS	CHIEF LEGAL OFFICER	40.00	Officer	$213,153	$8,627	$221,780
SHELLEY YOUNG	CFO	40.00	Officer	$179,098	$68,172	$247,270
DOUG HUTTON	CHIEF OF CORPORATE RELATIONS	40.00	Officer	$128,531	$52,870	$181,401
DAVID UPCHURCH JR	DIRECTOR OF OPERATIONS	40.00	Highest	$142,767	$20,121	$162,888
JACK WILLIS	CONSTRUCTION LEAD LINE TECH	40.00	Highest	$154,711	$37,492	$192,203
DEREK MAURATH	CONSTRUCTION LEAD LINE TECH	40.00	Highest	$145,474	$41,221	$186,695
DAKOTA BROWN	DIRECTOR OF ENGINEERING	40.00	Highest	$143,168	$58,689	$201,857
GREGORY ERISMAN	CONSTRUCTION MANAGER	40.00	Highest	$142,300	$39,824	$182,124
BILLY HURD	FORMER DIRECTOR	4.00		$11,862	$0	$11,862
KENNETH SIMMONS	FORMER CEO	40.00		$306,584	$78,954	$385,538

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	No data	No data	No data	No data
2023	$153,526,188	$153,526,188	$351,424,686	No data
2022	$167,099,707	$167,099,707	$345,027,547	No data
2021	$141,398,452	$141,398,452	$324,255,253	No data
2020	$126,122,119	$126,122,119	$322,150,197	No data
2019	$132,050,044	$132,050,044	$307,255,472	No data
2018	$135,786,754	$135,786,754	$309,924,100	No data

SOUTH KENTUCKY RURAL ELECTRIC COOPERATIVE CORPORATION