South Alabama Electric Cooperative (EIN 630193841) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

David Bailey

Phone

3345662060

Tax Period

2024-01-01 to 2024-12-31

South Alabama Electric Cooperative, founded in 1937, is a mid-sized nonprofit that reported $41.8M in total revenue in fiscal year 2018.

Mission

To provide electric utility service to cooperative members.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $57,404,286

Investment Income $1,059,500

Other Revenue $788,002

TOTAL REVENUE $59,251,788

Expense Breakdown

Grants Paid $0

Salaries & Benefits $615,211

Fundraising Expenses $0

Other Expenses $53,467,370

TOTAL EXPENSES $60,251,788

Year-over-Year Comparison

	2024	2023	Change
Revenue	$59,251,788	$55,703,765	+0.1%
Expenses	$60,251,788	$58,703,765	+0.0%
Net Income	$-1,000,000	$-3,000,000	-0.7%

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

$516,281

Total Directors

$228,415

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BF	Trustee	7.00	Officer Director	$26,005	$0	$26,005
CRT	Trustee	9.00	Officer Director	$28,675	$0	$28,675
DK	Trustee	6.00	Officer Director	$20,665	$0	$20,665
JG	Trustee	10.00	Director	$31,790	$0	$31,790
JHM	Trustee	12.00	Officer Director	$33,125	$0	$33,125
NDG	Trustee	4.00	Officer Director	$21,015	$0	$21,015
TS	Trustee	10.00	Director	$31,345	$0	$31,345
BS	Trustee	9.00	Director	$35,795	$0	$35,795
LRI	General Manager	40.00	Officer	$301,701	$85,095	$386,796
RLB	Employee	47.00	Highest	$130,536	$44,956	$175,492
HMR	Employee	40.00	Highest	$152,638	$56,182	$208,820
JHR	Employee	46.00	Highest	$124,602	$44,921	$169,523
ES	Employee	40.00	Highest	$142,703	$54,780	$197,483
WWW	Employee	40.00	Highest	$193,983	$61,684	$255,667

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	$59,251,788	$60,251,788	$177,655,969	$-1,000,000
2023	$55,703,765	$58,703,765	$169,182,120	$-3,000,000
2022	$53,297,437	$53,297,437	$169,905,878	No data
2021	$49,282,613	$49,282,613	$170,308,337	No data
2020	$46,160,958	$45,926,437	$154,415,013	$234,521
2019	$44,933,086	$44,933,086	$144,187,679	No data
2018	$41,828,590	$41,828,590	$133,216,021	No data

South Alabama Electric Cooperative