NORTHCENTRAL ELECTRIC COOPERATIVE (EIN 640300045) - 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

1950

Legal Domicile

Principal Officer

WILLIAM K DODDRIDGE

Phone

8003258925

Tax Period

2023-07-01 to 2024-06-30

NORTHCENTRAL ELECTRIC COOPERATIVE, founded in 1950, is a major nonprofit that reported $140.2M in total revenue in fiscal year 2023.

Mission

TO BRING SAFE, RELIABLE, AND AFFORDABLE POWER TO CUSTOMERS IN A COURTEOUS AND TIMELY MANNER.

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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 $137,713,434

Investment Income $421,469

Other Revenue $2,085,192

TOTAL REVENUE $140,220,095

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,305,360

Fundraising Expenses $0

Program Expenses $136,354,642

Other Expenses $130,049,282

TOTAL EXPENSES $136,354,642

Year-over-Year Comparison

	2023	2022	Change
Revenue	$140,220,095	$142,343,736	0.0%
Expenses	$136,354,642	$136,760,738	0.0%
Net Income	$3,865,453	$5,582,998	-0.3%

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

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

$76,500

Total Directors

$228,000

Key Employees

$570,702

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM K DODDRIDGE	GENERAL MANA	38.00	Key Emp	$456,883	$113,819	$570,702
MARK NICHOLS	DIRECTOR OF	32.00	Highest	$250,752	$71,812	$322,564
DARIN FARLEY	DIRECTOR OF	40.00	Highest	$246,135	$61,865	$308,000
JONATHAN COX	DIRECTOR OF	40.00	Highest	$220,090	$71,189	$291,279
LARRY JOHNSON	DIRECTOR OF	40.00	Highest	$214,622	$71,922	$286,544
JAKE BELLIPANNI	DIRECTOR OF	32.00	Highest	$194,372	$71,189	$265,561
MORRIS THOMPSON	BOARD MEMBER	3.22	Director	$29,000	$0	$29,000
DON DICKERSON	SECRETARY	2.21	Officer Director	$28,000	$0	$28,000
TONY TAYLOR	BOARD MEMBER	6.19	Director	$28,000	$0	$28,000
PAT WOODS	PRESIDENT	3.33	Officer Director	$27,500	$0	$27,500
RICKY JONES	BOARD MEMBER	4.30	Director	$27,000	$0	$27,000
JULIE NIBLETT	BOARD MEMBER	5.08	Director	$27,000	$0	$27,000
PHIL LACHAUSSEE	BOARD MEMBER	3.32	Director	$25,500	$0	$25,500
JERRY NICHOLS	VICE PRESIDE	1.31	Officer Director	$21,000	$0	$21,000
KIMBERLY GORDON	BOARD MEMBER	0.96	Director	$15,000	$0	$15,000
PATRICIAN GRIFFIN	BOARD MEMBER	1.50	Director	$0	$0	$0

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	No data	No data	No data	No data
2024	$140,220,095	$136,354,642	$269,722,624	$3,865,453
2023	$142,343,736	$136,760,738	$228,436,980	$5,582,998
2022	$125,968,963	$116,458,816	$185,941,805	$9,510,147
2021	$108,423,358	$100,476,371	$159,991,171	$7,946,987
2021	$109,044,295	$100,358,551	$160,612,108	$8,685,744
2020	$104,349,184	$102,547,108	$142,576,396	$1,802,076
2019	$104,734,779	$101,319,051	$138,659,251	$3,415,728

NORTHCENTRAL ELECTRIC COOPERATIVE