CARROLL ELECTRIC COOPERATIVE CORPORATION (EIN 710027635) - 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

1937

Legal Domicile

Principal Officer

ROBERT BOAZ

Phone

8704232161

Tax Period

2023-01-01 to 2023-12-31

CARROLL ELECTRIC COOPERATIVE CORPORATION, founded in 1937, is a major nonprofit that reported $194.4M in total revenue in fiscal year 2018. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

TO SERVE OUR MEMBERS WITH SAFE, RELIABLE, AND AFFORADABLE ELECTRICITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $229,999,716

Investment Income $4,970,886

Other Revenue $1,791,787

TOTAL REVENUE $236,762,389

Expense Breakdown

Grants Paid $31,672

Salaries & Benefits $32,621,111

Fundraising Expenses $0

Other Expenses $192,579,316

TOTAL EXPENSES $236,762,389

Year-over-Year Comparison

	2023	2022	Change
Revenue	$236,762,389	$275,207,800	-0.1%
Expenses	$236,762,389	$275,207,800	-0.1%
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

366

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

$1,726,215

Total Directors

$331,378

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN HUNNICUTT	CHAIRMAN	7.40	Officer Director	$32,636	$38	$32,674
CARLA HATHORN	VICE CHAIRMAN	6.70	Officer Director	$33,524	$38	$33,562
WINFRED PRIER	SECRETARY/TREASURER	2.20	Officer Director	$31,720	$0	$31,720
J NEFF BASORE	DIRECTOR	6.60	Director	$32,636	$28	$32,664
DAVID GLASS	DIRECTOR	10.00	Director	$44,736	$43	$44,779
KRISTY NOBLE-TESCH	DIRECTOR	6.30	Director	$41,436	$35	$41,471
BOBBY G RAULSTON	DIRECTOR	4.80	Director	$35,936	$23	$35,959
CHARLES R SHINN	DIRECTOR	6.40	Director	$38,136	$43	$38,179
JOSEPH R SPIVEY	DIRECTOR	9.40	Director	$40,336	$34	$40,370
ROBERT BOAZ	PRESIDENT/CEO	55.00	Officer	$678,295	$447,974	$1,126,269
CHAD ALLEN	VP FINANCIAL SERVICES	45.00	Officer	$263,779	$238,211	$501,990
KEAN STEELY	VP ENGINEERING & OPERATIONS	45.00	Highest	$352,936	$203,247	$556,183
MICHAEL DODGE	VP BENTONVILLE DISTRICT	45.00	Highest	$297,222	$210,770	$507,992
CORY SMITH	VP CORPORATE RELATIONS	45.00	Highest	$275,251	$117,141	$392,392
TYLER ASHWORTH	VP TEAM SERVICES	50.00	Highest	$264,246	$114,675	$378,921
JOHN WORLEY	VP BENTON COUNTY LINE SERVICES	60.00	Highest	$245,534	$256,859	$502,393

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	$236,762,389	$236,762,389	$884,921,248	No data
2022	$275,207,800	$275,207,800	$831,063,495	No data
2021	$239,227,342	$239,227,342	$756,571,061	No data
2020	$193,843,756	$193,843,756	$687,619,356	No data
2019	$188,603,732	$188,603,732	$636,864,378	No data
2018	$194,418,920	$194,418,920	$590,748,186	No data

CARROLL ELECTRIC COOPERATIVE CORPORATION