Joe Wheeler Electric Membership Co… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

Gene Kanikovsky

Phone

2565522300

Tax Period

2024-07-01 to 2025-06-30

Joe Wheeler Electric Membership Corporation, founded in 1937, is a major nonprofit that reported $219.2M in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

Joe Wheeler EMC is committed to providing efficient, reliable utility services that enhance the lives and businesses and exceed the expectations of members and customers in Lawrence and Morgan Counties and surrounding communities.

Program Service Accomplishments

Program 1

Utilizing approximately 4,428 miles of distribution lines, Joe Wheeler Electric Membership Corporation provided 1,919,749,085 kilowatt-hours of electric energy to its cooperative members located in...

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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 $208,665,149

Investment Income $501,233

Other Revenue $10,021,906

TOTAL REVENUE $219,188,288

Expense Breakdown

Grants Paid $30,000

Salaries & Benefits $1,076,863

Fundraising Expenses $0

Other Expenses $206,233,256

TOTAL EXPENSES $220,365,382

Year-over-Year Comparison

	2024	2023	Change
Revenue	$219,188,288	$187,818,290	+0.2%
Expenses	$220,365,382	$186,374,146	+0.2%
Net Income	$-1,177,094	$1,444,144	-1.8%

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

115

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

$1,003,613

Total Directors

$106,934

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Linda Owens	Director	8.00	Director	$10,769	$0	$10,769
Charles Teague	Director	6.00	Director	$10,427	$0	$10,427
Shirley Livingston	Director	7.00	Director	$10,293	$0	$10,293
Ray Long	Director/President	8.00	Officer Director	$11,262	$0	$11,262
Andrew McCay	Director	8.00	Director	$627	$0	$627
Jimmie Halbrooks	Director	8.00	Director	$10,043	$0	$10,043
Ricky Knouff	Director	8.00	Director	$11,562	$0	$11,562
Milton Taylor	Director/Sec/Treas	7.00	Officer Director	$11,362	$0	$11,362
Joseph Dutton	Director	5.00	Director	$10,762	$0	$10,762
Sandy Fields	Director/Vice President	6.00	Officer Director	$11,062	$0	$11,062
Michael Penney	Director	5.00	Director	$8,765	$0	$8,765
Patrick D Holmes	Chief Financial Officer	50.00	Officer	$366,578	$169,780	$536,358
Eugene V Kanikovsky	CEO/General Manager	63.00	Officer	$314,068	$119,501	$433,569
Austin B Kritner	Journeyman Lineman	62.00	Highest	$197,819	$37,106	$234,925
Ken McGee	Director of Engineering	55.00	Highest	$186,049	$110,983	$297,032
Donald J Pace II	Journeyman Lineman	62.00	Highest	$198,667	$45,431	$244,098
Jeremiah Engle	Equipment Serviceman	57.00	Highest	$176,975	$53,543	$230,518
Anthony Smith	Journeyman Lineman	56.00	Highest	$171,569	$37,661	$209,230
George B Kitchens	Former CEO/General Manager	0.00		$174,405	$0	$174,405

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	$219,188,288	$220,365,382	$407,116,755	$-1,177,094
2024	$187,818,290	$186,374,146	$399,473,384	$1,444,144
2023	$182,521,630	$182,107,340	$378,408,818	$414,290
2022	$168,171,604	$167,224,608	$301,712,454	$946,996
2021	$148,535,459	$148,193,025	$257,866,944	$342,434
2020	$152,754,189	$153,072,704	$214,374,862	$-318,515
2019	$158,848,709	$159,290,080	$216,058,070	$-441,371

Joe Wheeler Electric Membership Corporation