PowerSouth Energy Cooperative

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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

1941

Legal Domicile

Phone

3344273000

Tax Period

2024-01-01 to 2024-12-31

PowerSouth Energy Cooperative, founded in 1941, is a major nonprofit that reported $859.7M in total revenue in fiscal year 2024. Revenue grew 20% year-over-year, indicating healthy expansion.

Mission

POWERSOUTH ENERGY COOPERATIVE IS AN ALABAMA COOPERATIVE CORPORATION PRODUCING AND TRANSMITTING WHOLESALE ELECTRIC POWER TO AND FOR ITS COOPERATIVE AND MUNICIPAL MEMBERS UNDER THE PROVISIONS OF THE RURAL ELECTRIFICATION ACT OF 1936.

Program Service Accomplishments

Program 1

POWERSOUTH ENERGY COOPERATIVE SERVES THE WHOLESALE ENERGY NEEDS OF 20 UTILITY DISTRIBUTION MEMBERS IN ALABAMA AND NORTHWEST FLORIDA.

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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 $850,255,480

Investment Income $7,252,877

Other Revenue $2,189,074

TOTAL REVENUE $859,697,431

Expense Breakdown

Grants Paid $0

Salaries & Benefits $9,440,371

Fundraising Expenses $0

Program Expenses $0

Other Expenses $835,662,555

TOTAL EXPENSES $845,102,926

Year-over-Year Comparison

	2024	2023	Change
Revenue	$859,697,431	$718,076,835	+0.2%
Expenses	$845,102,926	$704,858,774	+0.2%
Net Income	$14,594,505	$13,218,061	+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

610

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

$8,603,497

Total Directors

$836,867

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANN PARKMAN	BOARD MEMBER	7.0	Director	$21,300	$0	$21,300
BECKY BRACKE	BOARD MEMBER	7.0	Director	$18,403	$0	$18,403
BOBBY BALLARD	BOARD MEMBER	7.0	Director	$21,303	$0	$21,303
BRAD KIMBRO	BOARD MEMBER	7.0	Director	$22,650	$0	$22,650
BRAXTON GREEN	BOARD MEMBER	7.0	Director	$21,753	$0	$21,753
CARL GOODSON	BOARD MEMBER	7.0	Director	$14,202	$0	$14,202
DAVID BAILEY	BOARD MEMBER	7.0	Director	$23,103	$0	$23,103
DELANEY KERVIN	BOARD MEMBER	7.0	Director	$11,903	$0	$11,903
EARL JOHNSON	BOARD MEMBER	7.0	Director	$15,302	$0	$15,302
GARY HARRISON	BOARD MEMBER	7.0	Director	$22,653	$0	$22,653
GERALD EDMONDSON	BOARD MEMBER	7.0	Director	$23,103	$0	$23,103
HUNTER ROBINSON	BOARD MEMBER	7.0	Director	$6,400	$0	$6,400
ISABELL BOYD	BOARD MEMBER	7.0	Director	$19,952	$0	$19,952
JAMES HALL	BOARD MEMBER	7.0	Director	$13,201	$0	$13,201
JAMES MAY	BOARD MEMBER	7.0	Director	$1,100	$0	$1,100
JANE BRUNSON	BOARD MEMBER	7.0	Director	$21,303	$0	$21,303
JEFFREY HODGES	BOARD MEMBER	7.0	Director	$22,653	$0	$22,653
JIMMY ELLIS	BOARD MEMBER	7.0	Director	$6,200	$0	$6,200
JOE RONE	BOARD MEMBER	7.0	Director	$7,551	$0	$7,551
JOHN BARTLEY	BOARD MEMBER	7.0	Director	$23,103	$0	$23,103
JON CULLIMORE	BOARD MEMBER	7.0	Director	$21,753	$0	$21,753
JOSEPH COLEMAN	BOARD MEMBER	7.0	Director	$22,653	$0	$22,653
KAREN MOORE	BOARD MEMBER	7.0	Director	$12,403	$0	$12,403
KIM JACKSON	BOARD MEMBER	7.0	Director	$15,552	$0	$15,552
KIP JUSTICE	BOARD MEMBER	7.0	Director	$22,653	$0	$22,653
MARILYN DAVIS	BOARD MEMBER	7.0	Director	$22,203	$0	$22,203
MARK PARKER	BOARD MEMBER	7.0	Director	$22,653	$0	$22,653
RANDY BUSH	BOARD MEMBER	7.0	Director	$14,200	$0	$14,200
RICKY JONES	BOARD MEMBER	7.0	Director	$20,403	$0	$20,403
ROBERT BYRD	BOARD MEMBER	7.0	Director	$7,551	$0	$7,551
RODNEY HARRISON	BOARD MEMBER	7.0	Director	$28,173	$0	$28,173
RYAN CAMPBELL	BOARD MEMBER	7.0	Director	$21,753	$0	$21,753
SHAWN WALLING	BOARD MEMBER	7.0	Director	$15,753	$0	$15,753
STACEY PARKER	BOARD MEMBER	7.0	Director	$22,653	$0	$22,653
STEPHEN RHODES	BOARD MEMBER	7.0	Director	$21,753	$0	$21,753
STEVEN SHEFFIELD	BOARD MEMBER	7.0	Director	$22,650	$0	$22,650
TERRY MITCHELL	BOARD MEMBER	7.0	Director	$20,853	$0	$20,853
TERRY MOSELEY	BOARD MEMBER	7.0	Director	$23,553	$0	$23,553
TOM MADDOX	BOARD MEMBER	7.0	Director	$22,203	$0	$22,203
TOM STACKHOUSE	BOARD MEMBER	7.0	Director	$23,103	$0	$23,103
TOM DUNCAN	BOARD MEMBER	7.0	Director	$24,903	$0	$24,903
VINCE JOHNSON	BOARD MEMBER	7.0	Director	$20,400	$0	$20,400
WAYNE WILLIAMS	BOARD MEMBER	7.0	Director	$4,650	$0	$4,650
WILLIE WRIGHT	BOARD MEMBER	7.0	Director	$21,303	$0	$21,303
WILLIE SMITH	BOARD MEMBER	7.0	Director	$24,002	$0	$24,002
ARTHUR BRUNSON	VP of Legal and Corporate Affairs	50.0	Officer	$452,010	$128,026	$580,036
ELIZABETH WOODARD	EVP/CFO	50.0	Officer	$765,366	$196,489	$961,855
GARY SMITH	President/CEO	50.0	Officer	$2,007,939	$368,109	$2,376,048
HORACE HORN	Senior VP of External Affairs	50.0	Officer	$559,621	$143,571	$703,192
JOE ARMSTRONG	VP of Engineering & Operations	50.0	Officer	$344,598	$110,047	$454,645
JOHN MATHESON	VP of STAFF SERVICES	50.0	Officer	$332,269	$110,047	$442,316
MARK MORGAN	EVP/COO	50.0	Officer	$1,369,012	$275,370	$1,644,382
MATTHEW DIAMOND	VP of POWER PRODUCTION	50.0	Officer	$398,651	$118,941	$517,592
TAYLOR WILLIAMS	VP of External Affairs	50.0	Officer	$326,376	$109,207	$435,583
WILLIAM GRAHAM	VP of Power Supply	50.0	Officer	$374,043	$113,805	$487,848
DAVID PEARCE	Bulk Power, Fuels & Energy Resources Manager	50.0	Highest	$214,934	$68,791	$283,725
JAMES GRIMES	Power Production Engineering Manager	50.0	Highest	$220,841	$79,091	$299,932
JAMES HATTAWAY	Energy Services Manager	50.0	Highest	$234,611	$81,810	$316,421
JONATHAN ELLISON	Director of Technical Services	50.0	Highest	$260,680	$75,771	$336,451
JULIAN FARRINGTON	Manager of Planning, Compliance & REGULATION	50.0	Highest	$242,955	$81,007	$323,962

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	$859,697,431	$845,102,926	$2,695,050,060	$14,594,505
2023	$718,076,835	$704,858,774	$2,734,549,230	$13,218,061
2022	$852,552,468	$840,042,244	$2,529,005,112	$12,510,224
2021	$643,376,000	$630,900,963	$2,439,100,863	$12,475,037
2020	$554,609,907	$541,897,304	$2,174,864,173	$12,712,603
2019	$612,215,936	$598,525,844	$1,859,336,399	$13,690,092
2018	$621,022,221	$608,949,712	$1,738,635,908	$12,072,509