MERIWETHER LEWIS ELECTRIC COOPERAT… - Form 990 Financial Data

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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

1939

Legal Domicile

Principal Officer

KEITH CARNAHAN

Phone

9317293558

Tax Period

2024-07-01 to 2025-06-30

MERIWETHER LEWIS ELECTRIC COOPERATIVE, founded in 1939, is a major nonprofit that reported $146.0M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $136.5M left a modest 6% surplus.

Mission

NONE

Program Service Accomplishments

Program 1

RURAL ELECTRICITY DISTRIBUTION TO 37,009 MEMBERS LOCATED IN HICKMAN, HOUSTON, HUMPHREYS, LEWIS, AND PERRY COUNTIES IN MIDDLE TENNESSEE.

Program 2

PROVISION OF BROADBAND INTERNET AND COMMUNICATION SERVICES VIA FIBER OPTIC NETWORK TO RURAL HOMES AND BUSINESSES IN THE COOPERATIVE'S SERVICE AREA. THE ORGANIZATION HAD CONNECTED 18,429 CUSTOMERS AS...

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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 $569,171

Program Service Revenue $145,083,566

Investment Income $346,881

Other Revenue $0

TOTAL REVENUE $145,999,618

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,258,117

Fundraising Expenses $0

Other Expenses $134,274,179

TOTAL EXPENSES $136,532,296

Year-over-Year Comparison

	2024	2023	Change
Revenue	$145,999,618	$133,216,158	+0.1%
Expenses	$136,532,296	$124,635,068	+0.1%
Net Income	$9,467,322	$8,581,090	+0.1%

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

135

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

$1,771,950

Total Directors

$417,687

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOMMY GRAHAM	CHAIR	1.39	Director	$26,554	$11,437	$37,991
JEFFREY D PEERY DDS	VICE CHAIR	3.89	Director	$36,701	$0	$36,701
JOHNNIE RUTH ELROD	DIRECTOR	6.36	Director	$35,363	$0	$35,363
DAVID WAYNE QUALLS	DIRECTOR	1.75	Director	$35,658	$0	$35,658
BILL WEBB	DIRECTOR	2.21	Director	$36,178	$955	$37,133
JESSIE WALLACE	DIRECTOR	1.76	Director	$33,868	$0	$33,868
DAVID DANIEL	DIRECTOR	1.01	Director	$32,332	$0	$32,332
LARRY D MAYBERRY	DIRECTOR	1.27	Director	$30,778	$2,619	$33,397
CASS RYE	DIRECTOR	1.53	Director	$15,584	$0	$15,584
ZACHARY HUTCHENS	DIRECTOR	1.61	Director	$26,663	$12,178	$38,841
ANDREW PORCH	DIRECTOR	1.93	Director	$26,932	$8,181	$35,113
RAYMOND H FUSSELL	DIRECTOR	2.38	Director	$26,566	$10,196	$36,762
RONALD AVERETT	DIRECTOR	2.13	Director	$8,944	$0	$8,944
KEITH CARNAHAN	PRESIDENT AN	60.00	Officer	$305,912	$66,546	$372,458
KEN LITTLE	VP-EMERG. TE	50.00	Officer	$182,025	$97,626	$279,651
MIRANDA MCCALEB	VP-EMPLOYEE/	50.00	Officer	$180,659	$111,261	$291,920
SHANE MCCRORY	VP-INFO TECH	50.00	Officer	$179,769	$75,058	$254,827
EDWARD W GREENWELL	VP-OPER. & E	50.00	Officer	$162,634	$43,504	$206,138
BLAKE HARPER	VP - ADMIN S	50.00	Officer	$172,503	$24,910	$197,413
MELISSA SANDERSON	CORPORATE SE	40.00	Officer	$75,157	$67,857	$143,014
JOHN L WILLIAMS	GENERAL COUN	10.00	Officer	$26,529	$0	$26,529
KARL REYNEN	EMPLOYEE	60.00	Highest	$148,331	$37,561	$185,892
BARRY WILSON	EMPLOYEE	50.00	Highest	$135,892	$42,692	$178,584
DAVID QUALLS	EMPLOYEE	47.00	Highest	$138,771	$64,147	$202,918
JASON GRAVES	EMPLOYEE	50.00	Highest	$139,506	$59,030	$198,536
WILLIAM BLACKWELL	EMPLOYEE	48.00	Highest	$143,785	$73,334	$217,119

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	$145,999,618	$136,532,296	$206,439,138	$9,467,322
2024	$133,216,158	$124,635,068	$196,267,923	$8,581,090
2023	$132,689,305	$128,647,989	$191,483,163	$4,041,316
2022	$119,621,039	$116,651,290	$179,486,251	$2,969,749
2021	$108,834,399	$105,644,107	$157,637,371	$3,190,292
2020	$103,895,171	$102,246,739	$142,630,844	$1,648,432
2019	$104,667,994	$102,349,052	$123,902,561	$2,318,942

MERIWETHER LEWIS ELECTRIC COOPERATIVE