Southern Pine Electric Cooperative (EIN 640243969) - 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

Chris K Rhodes

Phone

6017856511

Tax Period

2023-01-01 to 2023-12-31

Southern Pine Electric Cooperative, founded in 1938, is a major nonprofit that reported $230.7M in total revenue in fiscal year 2023.

Mission

The mission of Southern Pine Electric's Board of Directors and employees is to enhance the quality of life of our members and community by safely providing reliable electric energy at an affordable price.

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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 $0

Program Service Revenue $228,372,951

Investment Income $642,092

Other Revenue $1,704,336

TOTAL REVENUE $230,719,379

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,597,820

Fundraising Expenses $0

Other Expenses $214,779,823

TOTAL EXPENSES $230,719,379

Year-over-Year Comparison

	2023	2022	Change
Revenue	$230,719,379	$220,241,849	+0.0%
Expenses	$230,719,379	$220,241,849	+0.0%
Net Income	$0	$0	N/A

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

270

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

$892,535

Total Directors

$543,021

Key Employees

$301,099

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Billy M Berry	Chariman/Director	25.50	Officer Director	$51,281	$0	$51,281
Mims W Berry	Director	20.00	Director	$41,989	$0	$41,989
Charles Lowe	Director	19.60	Director	$54,442	$0	$54,442
Blaine H Eaton	Director	21.20	Director	$40,609	$0	$40,609
Haskins Montgomery	Secretary/Director	22.50	Officer Director	$45,989	$0	$45,989
Billy Parish	Director	19.90	Director	$41,364	$0	$41,364
Greg Sullivan	Director	19.30	Director	$56,147	$0	$56,147
David Tadlock	Director	11.60	Director	$24,634	$0	$24,634
Richard Thoms	Vice-Chairman/Director	21.60	Officer Director	$41,563	$0	$41,563
Fountaine McNair	Director	18.90	Director	$36,240	$0	$36,240
Jeffery Sims	Director	19.00	Director	$36,422	$0	$36,422
Dean Kirby	Director	17.10	Director	$32,927	$0	$32,927
Staci L Rhodes	Director	20.50	Director	$39,414	$0	$39,414
Chris K Rhodes	President / CEO	50.00	Officer	$369,246	$146,576	$515,822
Ryan R Robertson	Chief Financial Officer	45.00	Officer	$212,168	$25,712	$237,880
Jim Jordan	VP of Engineering	50.00	Key Emp	$217,996	$83,103	$301,099
John Joseph Hardin	Director of Plant and Faci	45.00	Highest	$165,021	$64,493	$229,514
Robert Chad Lewis	VP of Operations	50.00	Highest	$223,130	$49,327	$272,457
Ollen D McAlpin	VP of Administration	45.00	Highest	$206,633	$29,243	$235,876
Jennifer W Collins	VP of Communications & Gov	50.00	Highest	$183,085	$55,053	$238,138
James Keith King	Director of Supply Chain	40.00	Highest	$150,941	$56,010	$206,951

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	$230,719,379	$230,719,379	$533,169,918	No data
2022	$220,241,849	$220,241,849	$497,414,310	No data
2021	$209,731,652	$209,731,652	$504,001,420	No data
2020	$197,434,735	$197,434,735	$488,553,193	No data
2019	$207,111,552	$207,111,552	$480,772,681	No data
2018	$209,245,075	$209,245,075	$475,847,972	No data

Southern Pine Electric Cooperative