TENNESSEE ELECTRIC COOPERATIVE ASS… - 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

1942

Legal Domicile

Principal Officer

MIKE KNOTTS

Phone

6153679284

Tax Period

2022-07-01 to 2023-06-30

TENNESSEE ELECTRIC COOPERATIVE ASSOCIATION, founded in 1942, is a community nonprofit that reported $8.4M in total revenue in fiscal year 2022. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE INFORMATION, SERVICES, AND SUPPORT TO THE INTERESTS OF RURAL ELECTRIC COOPERATIVES IN TENNESSEE.

Program Service Accomplishments

Program 1

THE TENNESSEE MAGAZINE IS THE OFFICIAL PUBLICATION OF TENNESSEE ELECTRIC COOPERATIVE ASSOCIATION AND THE 23 MEMBER ELECTRIC COOPERATIVES. IT IS PUBLISHED AND DISTRIBUTED MONTHLY TO COMMUNICATE...

THE TENNESSEE MAGAZINE IS THE OFFICIAL PUBLICATION OF TENNESSEE ELECTRIC COOPERATIVE ASSOCIATION AND THE 23 MEMBER ELECTRIC COOPERATIVES. IT IS PUBLISHED AND DISTRIBUTED MONTHLY TO COMMUNICATE ELECTRICAL USE AND SAFETY, ECONOMIC DEVELOPMENT AND EDUCATION AND COMMUNITY INTERESTS OF MORE THAN 1 MILLION TENNESSEE FAMILIES AND BUSINESSES WHO OWN, OPERATE AND CONTROL THE TAX-PAYING, BUSINESS-MANAGED, LOCALLY OWNED ELECTRIC DISTRIBUTION AND SERVICE SYSTEMS OF THE TENNESSEE ELECTRIC COOPERATIVE ASSOCIATION. APPROXIMATE CIRCULATION: 693,936

Program 2

SPONSOR A YOUTH ESSAY CONTEST ABOUT RURAL ELECTRICITY TO COOPERATIVE MEMBERS WITH WINNERS EARNING A TOUR TO WASHINGTON D.C.

Program 3

PROVIDE A JOB TRAINING AND SAFETY EDUCATIONAL PROGRAM TO EMPLOYEES OF MEMBER COOPERATIVES

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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 (2022)

Revenue Breakdown

Contributions & Grants $35,500

Program Service Revenue $8,076,581

Investment Income $-1,330

Other Revenue $331,425

TOTAL REVENUE $8,442,176

Expense Breakdown

Grants Paid $69,750

Salaries & Benefits $2,099,747

Fundraising Expenses $0

Other Expenses $6,710,095

TOTAL EXPENSES $8,879,592

Year-over-Year Comparison

	2022	2021	Change
Revenue	$8,442,176	$7,501,409	+0.1%
Expenses	$8,879,592	$7,944,945	+0.1%
Net Income	$-437,416	$-443,536	0.0%

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

$787,411

Total Directors

$11,400

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEITH CARNAHAN	PRESIDENT	1.00	Officer Director	$150	$0	$150
DAVE CROSS	PRESIDENT	1.00	Officer Director	$1,200	$0	$1,200
KEITH CARNAHAN	VICE PRESIDENT	0.50	Director	$0	$0	$0
ALBERT DICUS	SECRETARY/TREASURER	0.50	Director	$1,800	$0	$1,800
JOHN ROBERTS	TRUSTEE	0.50	Director	$2,400	$0	$2,400
GREG WILLIAMS	TRUSTEE	0.50	Director	$1,200	$0	$1,200
RICHARD LACHER	TRUSTEE	0.50	Director	$1,500	$0	$1,500
HOUSTON ROGERS	TRUSTEE	0.50	Director	$900	$0	$900
JENNIFER BROGDON	TRUSTEE	0.50	Director	$600	$0	$600
PAUL THOMPSON	TRUSTEE	0.50	Director	$750	$0	$750
JUDY ROBERTSON	TRUSTEE	0.50	Director	$675	$0	$675
RUSSEL DIXON	TRUSTEE	0.50	Director	$75	$0	$75
DAN RODAMAKER	VICE PRESIDENT	0.50	Officer Director	$150	$0	$150
JOSH COMPTON	TRUSTEE	0.50	Director	$0	$0	$0
CHRIS JONES	TRUSTEE	0.50	Director	$0	$0	$0
ROBERT KENDRICK	TRUSTEE	0.50	Director	$0	$0	$0
JIMMY SANDLIN	TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL KNOTTS	EXECUTIVE VP AND GM(START APR 1)	50.00	Officer	$184,623	$58,573	$243,196
DAVID CALLIS	EXECUTIVE VP AND GM(UNTIL APR 1)	50.00	Officer	$296,016	$76,219	$372,235
AMY JORDAN	CONTROLLER	40.00	Officer	$133,674	$36,806	$170,480
ROBIN CONOVER	VP OF COMMUNICATIONS/EDITO	40.00	Highest	$121,303	$34,056	$155,359
JAMES T BLOCKER	VICE PRESIDENT OF MEMBER R	40.00	Highest	$119,968	$43,677	$163,645
TRENT SCOTT	VICE PRESIDENT OF CORPORAT	40.00	Highest	$125,308	$43,934	$169,242

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	$8,442,176	$8,879,592	$3,754,514	$-437,416
2022	$7,501,409	$7,944,945	$3,724,180	$-443,536
2021	$6,403,382	$6,355,963	$3,964,945	$47,419
2020	$6,814,979	$6,883,240	$4,205,748	$-68,261
2019	$6,863,529	$7,106,615	$4,321,263	$-243,086

TENNESSEE ELECTRIC COOPERATIVE ASSOCIATION