COVINGTON ELECTRIC COOPERATIVE INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1944

Legal Domicile

Principal Officer

MARK G PARKER

Phone

3342224121

Tax Period

2025-01-01 to 2025-12-31

COVINGTON ELECTRIC COOPERATIVE INC, founded in 1944, is a mid-sized nonprofit that reported $74.9M in total revenue in fiscal year 2025. Expenses of $69.5M left a modest 7% surplus.

Mission

THE COOPERATIVE'S PRIMARY MISSION IS TO PROVIDE SERVICE TO ITS APPROXIMATELY 23,000 MEMBER-OWNERS IN SOUTHERN ALABAMA.

Program Service Accomplishments

Program 1

DISTRIBUTION OF ELECTRIC ENERGY TO COOPERATIVE MEMBERS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $68,648,418

Investment Income $1,868,387

Other Revenue $4,422,815

TOTAL REVENUE $74,939,620

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,525,885

Fundraising Expenses $0

Other Expenses $67,357,591

TOTAL EXPENSES $69,508,954

Year-over-Year Comparison

	2025	2024	Change
Revenue	$74,939,620	$71,225,741	+0.1%
Expenses	$69,508,954	$65,563,167	+0.1%
Net Income	$5,430,666	$5,662,574	0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

101

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

$905,199

Total Directors

$168,612

Key Employees

$333,026

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK G PARKER	PRESIDENT &	55.00	Officer	$300,863	$142,851	$443,714
KIMBERLY M CARTER	VP FINANCE	50.00	Officer	$200,104	$152,873	$352,977
FRANCIS M CHIRICO	DIRECTOR EN	45.00	Key Emp	$195,174	$137,852	$333,026
ANTHONY WILLIS	DIRECTOR TEL	50.00	Highest	$161,684	$151,255	$312,939
RANDALL HELMS	OPERATIONS M	45.00	Highest	$145,824	$86,829	$232,653
TRACY TURNER	NETWORK ENGI	55.00	Highest	$124,049	$62,477	$186,526
RONNIE DIXON	CONST FOREMA	45.00	Highest	$114,863	$63,142	$178,005
DUSTIN HINSON	CONST FOREMA	45.00	Highest	$114,712	$34,835	$149,547
CHARLES GRACE	TRUSTEE	4.50	Director	$31,627	$0	$31,627
JAMES F MARTIN JR	ASST. SEC/TR	4.75	Officer Director	$30,277	$0	$30,277
WILLIE B SMITH JR	CHAIRMAN	3.50	Officer Director	$28,927	$0	$28,927
PATRICIA C JANASKY	VICE CHAIRMA	2.75	Officer Director	$25,327	$0	$25,327
WILLIAM G KING JR	SECRETARY/TR	3.00	Officer Director	$23,977	$0	$23,977
JENELLE SMITH	TRUSTEE	4.00	Director	$22,820	$0	$22,820
C HEFLIN SMITH	TRUSTEE	2.00	Director	$5,657	$0	$5,657

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	$74,939,620	$69,508,954	$257,513,080	$5,430,666
2024	$71,225,741	$65,563,167	$243,525,069	$5,662,574
2023	$67,323,003	$61,179,217	$245,434,365	$6,143,786
2022	$63,715,088	$59,825,928	$215,289,876	$3,889,160
2021	$57,592,182	$54,275,475	$180,159,805	$3,316,707
2020	$56,187,543	$52,948,907	$177,899,412	$3,238,636
2019	$57,779,280	$54,352,198	$177,644,857	$3,427,082
2018	$56,928,436	$53,848,882	$156,545,617	$3,079,554