PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION (EIN 640219645) - Form 990 Financial Analysis & Trantor Score

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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

1938

Legal Domicile

Principal Officer

MATTHEW WARE

Phone

6017362666

Tax Period

2023-01-01 to 2023-12-31

PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION, founded in 1938, is a major nonprofit that reported $149.6M in total revenue in fiscal year 2023.

Mission

THE ASSOCIATION'S MISSION IS IMPROVING THE FUTURE FOR ALL OF OUR MEMBERS IN SOUTH MISSISSIPPI. THE FIRST STEP IS BRINGING SAFE AND DEPENDABLE ENERGY AT THE LOWEST POSSIBLE COST.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,576,178

Program Service Revenue $146,898,635

Investment Income $90,669

Other Revenue $0

TOTAL REVENUE $149,565,482

Expense Breakdown

Grants Paid $33,019

Salaries & Benefits $13,322,215

Fundraising Expenses $0

Program Expenses $140,152,789

Other Expenses $126,797,555

TOTAL EXPENSES $149,918,901

Year-over-Year Comparison

	2023	2022	Change
Revenue	$149,565,482	$139,698,915	+0.1%
Expenses	$149,918,901	$139,467,817	+0.1%
Net Income	$-353,419	$231,098	-2.5%

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

N/A

Employees

133

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

$695,243

Total Directors

$270,437

Key Employees

$227,892

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WA KENDRICK	SECRETARY/TREASURER	2.95	Officer Director	$25,214	$0	$25,214
LAVELL BOND	VICE PRESIDENT	6.56	Officer Director	$30,165	$0	$30,165
BF HUDSON JR	DIRECTOR	6.29	Director	$28,074	$0	$28,074
HUGH GENE SMITH	DIRECTOR	7.44	Director	$28,461	$0	$28,461
DANNY WILKS	PRESIDENT	10.65	Officer Director	$29,563	$0	$29,563
LESLIE PETERS	DIRECTOR	2.71	Director	$24,073	$0	$24,073
JACK BRADSHAW	DIRECTOR	4.19	Director	$26,653	$0	$26,653
MATT THOMAS	DIRECTOR	9.37	Director	$26,768	$0	$26,768
DAVIS WINGO	DIRECTOR	3.70	Director	$25,159	$0	$25,159
JEFF TINNON	DIRECTOR	4.00	Director	$26,307	$0	$26,307
MATTHEW WARE	CEO/GENERAL MANAGER	50.00	Officer	$346,748	$56,934	$403,682
JODY THORNTON	CHIEF FINANCIAL OFFICER	50.00	Officer	$182,595	$24,024	$206,619
ERIK LAVINE	MANAGER, ENGINEERING & OPE	50.00	Key Emp	$193,259	$34,633	$227,892
ANTHONY HARRIS	MANAGER, ECON DEV & COMM R	40.00	Highest	$172,805	$33,612	$206,417
GEORGE CUTRER	DISTRICT MANAGER	40.00	Highest	$181,160	$33,692	$214,852
WILLIAM MCCRARY	DISTRICT MANAGER	40.00	Highest	$166,228	$32,726	$198,954
JAMES ARMSTRONG	MANAGER, PURCHASING & FACI	40.00	Highest	$170,601	$34,327	$204,928
JEFFREY SLOAN	IT MANAGER	40.00	Highest	$156,377	$24,718	$181,095

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	No data	No data	No data	No data
2023	$149,565,482	$149,918,901	$387,763,546	$-353,419
2022	$139,698,915	$139,467,817	$322,492,209	$231,098
2021	$130,089,296	$131,299,675	$282,339,813	$-1,210,379
2020	$126,524,793	$127,197,030	$260,839,233	$-672,237
2019	$128,844,422	$129,028,294	$252,253,554	$-183,872
2018	$128,499,857	$128,060,698	$245,224,057	$439,159

PEARL RIVER VALLEY ELECTRIC POWER ASSOCIATION