PETIT JEAN ELECTRIC COOPERATIVE CORPORATION (EIN 710139955) - 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

1940

Legal Domicile

Principal Officer

MICHAEL KIRKLAND

Phone

5017452493

Tax Period

2022-01-01 to 2022-12-31

PETIT JEAN ELECTRIC COOPERATIVE CORPORATION, founded in 1940, is a mid-sized nonprofit that reported $35.0M in total revenue in fiscal year 2018. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $42,689,747

Investment Income $402,735

Other Revenue $3,654,850

TOTAL REVENUE $46,747,332

Expense Breakdown

Grants Paid $6,803

Salaries & Benefits $6,217,237

Fundraising Expenses $0

Other Expenses $36,172,092

TOTAL EXPENSES $45,997,423

Year-over-Year Comparison

	2022	2021	Change
Revenue	$46,747,332	$40,732,999	+0.1%
Expenses	$45,997,423	$40,397,370	+0.1%
Net Income	$749,909	$335,629	+1.2%

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

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

$920,988

Total Directors

$259,118

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD COLLINS JR	DIRECTOR	9.00	Director	$38,305	$0	$38,305
FREDERICK HERMAN	SECRETARY/TREASURER	4.50	Officer Director	$34,233	$0	$34,233
DARRELL ALLEN	DIRECTOR	6.50	Director	$30,514	$0	$30,514
TERRY KIRKENDOLL	DIRECTOR	5.20	Director	$28,851	$0	$28,851
WILLIAM DERICKSON	DIRECTOR	1.90	Director	$28,618	$0	$28,618
DONNIE COLLINS	PRESIDENT	3.30	Officer Director	$28,283	$0	$28,283
ADDISON WOOD	DIRECTOR	4.50	Director	$27,964	$0	$27,964
JEREL BROWN	DIRECTOR	3.50	Director	$25,355	$0	$25,355
GILBERT LEWIS	DIRECTOR (JUNE-DEC)	6.10	Director	$16,995	$0	$16,995
MICHAEL KIRKLAND	CEO/GENERAL MANAGER	55.00	Officer	$356,581	$315,239	$671,820
MARIANNE PYEATT	MANAGER OF FINANCE AND ACC	60.00	Officer	$124,788	$61,864	$186,652
JOHNNY MOORE	MANAGER OF OPERATIONS	50.00	Highest	$122,580	$97,806	$220,386
MICHAEL GARBOW	MANAGER OF ENGINEERING	46.70	Highest	$128,090	$88,055	$216,145
WILLIAM GREEN	BROADBAND MANAGER	72.00	Highest	$134,315	$72,768	$207,083
WILLIAM TESTER	BRANCH MANAGER	60.00	Highest	$124,169	$82,139	$206,308
SHAWN BIGGS	SYSTEM ENGINEER	47.00	Highest	$111,445	$41,142	$152,587

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
2022	$46,747,332	$45,997,423	$166,442,334	$749,909
2021	$40,732,999	$40,397,370	$119,449,116	$335,629
2020	$33,446,976	$33,708,929	$106,545,292	$-261,953
2019	$34,943,263	$35,046,243	$106,276,985	$-102,980
2018	$34,984,587	$35,048,487	$100,142,677	$-63,900

PETIT JEAN ELECTRIC COOPERATIVE CORPORATION