WEST KENTUCKY RURAL ELECTRIC COOPERATIVE CORPORATION (EIN 610378848) - 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

Principal Officer

ROBERT HARGROVE

Phone

2702471321

Tax Period

2023-07-01 to 2024-06-30

WEST KENTUCKY RURAL ELECTRIC COOPERATIVE CORPORATION, founded in 1938, is a mid-sized nonprofit that reported $98.2M in total revenue in fiscal year 2023.

Mission

DISTRIBUTE ELECTRICITY TO COOPERATIVE'S MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND MANAGEMENT.

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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 $97,553,804

Investment Income $155,841

Other Revenue $452,632

TOTAL REVENUE $98,162,277

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,720,133

Fundraising Expenses $0

Program Expenses $97,008,607

Other Expenses $87,288,474

TOTAL EXPENSES $97,008,607

Year-over-Year Comparison

	2023	2022	Change
Revenue	$98,162,277	$101,104,837	0.0%
Expenses	$97,008,607	$100,263,599	0.0%
Net Income	$1,153,670	$841,238	+0.4%

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

103

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

$453,790

Total Directors

$153,550

Key Employees

$451,251

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT HARGROVE	BOARD PRESIDENT	4.85	Officer Director	$16,900	$0	$16,900
TROY ENGLISH	BOARD VICE PRESIDENT	7.06	Officer Director	$17,100	$0	$17,100
CHAD WILLETT	SECRETARY/TREASURER	3.76	Officer Director	$13,000	$0	$13,000
BENNY ADAIR	BOARD MEMBER	8.84	Director	$20,250	$0	$20,250
DENNIS BARNES	BOARD MEMBER	3.06	Director	$13,000	$0	$13,000
MIKE BURCHETT	BOARD MEMBER	3.12	Director	$14,650	$0	$14,650
JED CLARK	BOARD MEMBER	2.81	Director	$13,300	$0	$13,300
KEVIN CRIDER	BOARD MEMBER	4.94	Director	$14,100	$0	$14,100
MARK ELLIOTT	BOARD MEMBER	3.89	Director	$14,100	$0	$14,100
JAMIE POTTS	BOARD MEMBER	5.58	Director	$17,150	$0	$17,150
DAVID SMART	PRESIDENT/CEO	40.00	Officer	$302,461	$104,329	$406,790
HEATHER FOLEY	VP OF ADMIN & FINANCE	40.00	Key Emp	$161,570	$66,514	$228,084
JUSTIN MCCANN	VP OF ENGINEERING	40.00	Key Emp	$160,303	$62,864	$223,167
CHRISTOPHER FULLER	JOURNEY LINEMAN	40.00	Highest	$126,537	$45,016	$171,553
KEVIN ENGLAND	JOURNEY LINEMAN	40.00	Highest	$125,489	$44,953	$170,442
RODNEY ADAMS	JOURNEY LINEMAN	40.00	Highest	$123,947	$46,043	$169,990
LEVI WEATHERFORD	JOURNEY LINEMAN	40.00	Highest	$122,831	$46,584	$169,415
GREGORY CHARLES	JOURNEY LINEMAN	40.00	Highest	$122,821	$44,495	$167,316

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	$98,162,277	$97,008,607	$185,438,249	$1,153,670
2023	$101,104,837	$100,263,599	$175,980,902	$841,238
2022	$94,020,746	$89,272,702	$175,044,197	$4,748,044
2021	$84,297,768	$81,218,018	$171,247,850	$3,079,750

WEST KENTUCKY RURAL ELECTRIC COOPERATIVE CORPORATION