GIBSON ELECTRIC MEMBERSHIP

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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

1936

Legal Domicile

Principal Officer

Dan Rodamaker

Phone

7318554740

Tax Period

2024-01-01 to 2024-12-31

GIBSON ELECTRIC MEMBERSHIP, founded in 1936, is a major nonprofit that reported $125.5M in total revenue in fiscal year 2024. Expenses of $118.4M left a modest 6% surplus.

Mission

Gibson EMC is an electric cooperative owned by its members. Gibson EMC, and its wholly-owned subsidiary Gibson Connect, supply energy and fiber services throughout a 12-county service area in northwest Tennessee and southwest Kentucky.

Program Service Accomplishments

Program 1

Gibson EMC has 3,567 miles of electric line and 39,385 meters in Crockett, Dyer, Gibson, Haywood, Lake, Lauderdale, Madison, and Obion Counties in Tennessee and Carlisle, Fulton, Graves and Hickman counties in Kentucky. Gibson Connect, Gibson EMC's wholly-owned subsidiary, provides fiber services to various accounts throughout Gibson EMC's service area with 3,562 miles of fiber lines and 20,009 customers. The Corporate office is located in Trenton, Tennessee with member service centers in Alamo, Tiptonville, Trenton, Medina, and Troy, Tennessee and Clinton, Kentucky.

Program 2

N/A

Program 3

N/A

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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 $124,370,565

Investment Income $315,742

Other Revenue $786,885

TOTAL REVENUE $125,473,192

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,276,840

Fundraising Expenses $0

Other Expenses $109,093,721

TOTAL EXPENSES $118,370,561

Year-over-Year Comparison

	2024	2023	Change
Revenue	$125,473,192	$119,497,988	+0.1%
Expenses	$118,370,561	$113,730,721	+0.0%
Net Income	$7,102,631	$5,767,267	+0.2%

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

188

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

$2,074,801

Total Directors

$105,900

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Steve Sanders	Chairman	4.00	Director	$10,200	$0	$10,200
Keith Heglar	Vice Chairman	2.00	Director	$5,600	$0	$5,600
Bob McCurdy	Asst. Sec.	4.00	Director	$2,900	$4,400	$7,300
Tony Bargery	Trustee	4.00	Director	$8,800	$0	$8,800
Jim Turner	Trustee	3.00	Director	$7,000	$0	$7,000
Wray Pulliam	Trustee	6.00	Director	$10,600	$0	$10,600
Joan Mouser	Trustee	6.00	Director	$11,200	$0	$11,200
Eric Dupree	Trustee	4.00	Director	$9,500	$0	$9,500
Rana Buchanan	Trustee	6.00	Director	$10,500	$0	$10,500
Keith Forrester	Trustee	3.00	Director	$8,400	$0	$8,400
Bruce Kimbell	Trustee	3.00	Director	$100	$6,500	$6,600
Brian McDaniel	Trustee	4.00	Director	$10,200	$0	$10,200
Dan Rodamaker	Pres. & CEO	50.00	Officer	$550,310	$137,002	$687,312
Barry Smith	VP of Operations	52.00	Officer	$289,903	$140,087	$429,990
Charles Phillips	VP of Technical Srvc	49.00	Officer	$293,049	$128,020	$421,069
Rita Alexander	VP of HR/Member Services	50.00	Officer	$185,193	$87,068	$272,261
Richard BeDen	CFO	45.00	Officer	$178,545	$85,624	$264,169
Randy Dotson	Engineer	52.00	Highest	$151,552	$72,633	$224,185
Bret Taylor	Crewleader	41.00	Highest	$124,857	$43,269	$168,126
Daniel Goode	Operations	50.00	Highest	$129,513	$71,677	$201,190
Jeff Milam	Crewleader	48.00	Highest	$125,528	$56,543	$182,071
Kendall Byassee	Crewleader	47.00	Highest	$127,235	$58,910	$186,145

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	$125,473,192	$118,370,561	$271,901,560	$7,102,631
2023	$119,497,988	$113,730,721	$247,285,972	$5,767,267
2022	$121,430,242	$116,629,635	$228,662,408	$4,800,607
2021	$104,510,085	$98,403,621	$199,281,246	$6,106,464
2020	$96,087,292	$91,430,878	$173,339,904	$4,656,414
2019	$99,038,810	$96,943,071	$152,842,439	$2,095,739
2018	$100,181,029	$97,152,415	$136,431,225	$3,028,614