Alabama Rural Electric Association of Cooperatives (EIN 630264081) - 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

1947

Legal Domicile

Principal Officer

Karl G Rayborn

Phone

3342152732

Tax Period

2024-01-01 to 2024-12-31

Alabama Rural Electric Association of Cooperatives, founded in 1947, is a community nonprofit that reported $7.1M in total revenue in fiscal year 2018. Expenses of $6.7M left a modest 6% surplus.

Mission

A statewide trade association which serves as a resource through which its electric cooperative members are provided services for the continuation and advancement of the rural electrification program in Alabama.

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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 $3,925,263

Program Service Revenue $4,185,651

Investment Income $127,750

Other Revenue $226,018

TOTAL REVENUE $8,464,682

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,432,804

Fundraising Expenses $0

Other Expenses $4,399,315

TOTAL EXPENSES $7,832,119

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,464,682	$8,357,129	+0.0%
Expenses	$7,832,119	$8,113,011	0.0%
Net Income	$632,563	$244,118	+1.6%

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

$1,520,948

Total Directors

$93,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Andrew Callaway	Director	0.92	Director	$3,000	$0	$3,000
Edward Miller	Director	1.23	Director	$4,000	$0	$4,000
Allen Lang	Director	1.08	Director	$3,500	$0	$3,500
Charles Byrd	Director	1.38	Director	$4,500	$0	$4,500
Charles W Whisenant	Director	0.31	Director	$1,000	$0	$1,000
DR Stallworth Jr	Director	2.31	Director	$7,500	$0	$7,500
Daryl Jones	Director	2.15	Director	$0	$0	$0
David Bailey	Director	1.23	Director	$0	$0	$0
David Hembree	Director	2.15	Director	$7,000	$0	$7,000
James May	Director	1.08	Director	$3,500	$0	$3,500
Mark Parker	Director	1.23	Director	$0	$0	$0
Gary Harrison	Director	1.23	Director	$0	$0	$0
Gary Smith	Director	1.23	Director	$0	$0	$0
Gene Kanikovsky	Director	1.23	Director	$0	$0	$0
Gena Hall	Director	0.31	Director	$0	$0	$0
Irvin Eatman	Director	0.62	Director	$2,000	$0	$2,000
Jeff Hodges	Director	1.23	Director	$0	$0	$0
Curt Morris	Director	0.92	Director	$3,000	$0	$3,000
John Cullimore	Director	0.62	Director	$0	$0	$0
John Henry	Director	0.77	Director	$2,500	$0	$2,500
John Shewbart	Director	0.92	Director	$3,000	$0	$3,000
Karen Moore	Director	1.23	Director	$0	$0	$0
Kevin Chandler	Director	1.23	Director	$0	$0	$0
Debra Eubanks Baxley	Director	0.15	Director	$4,000	$0	$4,000
Brad Kimbro	Director	1.23	Director	$0	$0	$0
Louie Ward	Director	2.15	Director	$0	$0	$0
Mark Malone	Director	1.23	Director	$0	$0	$0
Mark Stockton	Director	1.23	Director	$0	$0	$0
Mike Hubbard	Director	0.92	Director	$3,000	$0	$3,000
Patricia Janasky	Director	1.08	Director	$3,500	$0	$3,500
Randall Wilkie	Director	1.23	Director	$0	$0	$0
Ricky Knouff	Director	1.08	Director	$3,500	$0	$3,500
Roland Hendon	Director/Vice-Chairman	2.46	Director	$8,000	$0	$8,000
Ronnie Gaylor	Director	0.77	Director	$2,500	$0	$2,500
S Parks Tubbs	Director	2.46	Director	$8,000	$0	$8,000
Scott Bobo	Director	1.23	Director	$0	$0	$0
Stacey White	Director/Secretary/Treasurer	1.23	Director	$0	$0	$0
Britton Lightsey	Director	1.23	Director	$0	$0	$0
Steve Sheffield	Director	1.23	Director	$0	$0	$0
Terry Moseley	Director	1.23	Director	$0	$0	$0
Terry Edmondson	Director	1.38	Director	$2,500	$0	$2,500
Tim Culpepper	Director	1.23	Director	$0	$0	$0
Thomas Duncan	Director	1.38	Director	$4,000	$0	$4,000
Tom Stackhouse	Director	1.23	Director	$0	$0	$0
Tommie Werneth	Director	1.85	Director	$6,000	$0	$6,000
Robby Jones	Director	0.62	Director	$0	$0	$0
Vince Johnson	Director/Chairman	2.15	Director	$0	$0	$0
Bruce Boswell	Director	1.23	Director	$4,000	$0	$4,000
Karl Rayborn	President - CEO	40.00	Officer	$346,102	$297,172	$643,274
Lenore Vickrey	VP - Communications	40.00	Officer	$129,631	$49,454	$179,085
Sean Strickler	VP - Public Affairs	40.00	Officer	$189,696	$88,867	$278,563
Matty Garr	VP - Statewide Services	40.00	Officer	$177,711	$38,767	$216,478
Brian Matney	VP - CFO	40.00	Officer	$183,941	$19,607	$203,548

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	$8,464,682	$7,832,119	$7,437,618	$632,563
2023	$8,357,129	$8,113,011	$6,890,362	$244,118
2022	$8,122,281	$7,957,474	$6,824,624	$164,807
2021	$6,922,697	$6,669,278	$6,685,824	$253,419
2020	$6,698,370	$6,321,586	$6,338,153	$376,784
2019	$7,240,925	$7,184,400	$6,639,513	$56,525
2018	$7,108,974	$6,657,840	$6,236,790	$451,134

Alabama Rural Electric Association of Cooperatives