WASHINGTON-ST TAMMANY ELECTRIC COOPERATIVE INC 1570 (EIN 726027617) - 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

1938

Legal Domicile

Principal Officer

Dane Hocott

Phone

9858393562

Tax Period

2024-01-01 to 2024-12-31

WASHINGTON-ST TAMMANY ELECTRIC COOPERATIVE INC 1570 is a tax-exempt nonprofit with EIN 726027617, based in FRANKLINTON, LA. Founded in 1938, the organization files IRS Form 990 and reported its most recent data for fiscal year 2024. In that period, it reported $124,826,654 in total revenue and $123,322,206 in total expenses, with net assets of $59,809,705.

Mission

To provide safe reliable and cost effective electric utility service to cooperative members in Southeast Louisiana and Southern Mississippi.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $124,826,654

Investment Income $0

Other Revenue $0

TOTAL REVENUE $124,826,654

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $123,322,206

Other Expenses $123,322,206

TOTAL EXPENSES $123,322,206

Year-over-Year Comparison

	2024	2023	Change
Revenue	$124,826,654	$119,527,789	+0.0%
Expenses	$123,322,206	$116,982,593	+0.1%
Net Income	$1,504,448	$2,545,196	-0.4%

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

102

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

$499,990

Total Directors

$200,328

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Frederick Smith	Board Member	5.00	Director	$5,943	$0	$5,943
Billy Rester	Board Member	8.00	Director	$28,967	$0	$28,967
Francis Cefalu	Board President	4.00	Director	$35,102	$0	$35,102
Walter Sylvest	Manager of Finance and Administration	45.00	Officer	$180,030	$29,981	$210,011
Dennis Glass	Board Vice President	10.00	Director	$20,588	$0	$20,588
Glenn Magee	Treasurer	8.00	Director	$18,680	$0	$18,680
Olander Smith	Board Secretary	10.00	Director	$6,443	$0	$6,443
Charles Graves	Board Member	8.00	Director	$38,381	$0	$38,381
Charles Singletary	Board Member	4.00	Director	$37,581	$0	$37,581
Joeseph Jarrell	Board Member	10.00	Director	$8,643	$0	$8,643
Dane Hocott	General Manager and CEO	50.00	Officer	$241,394	$48,585	$289,979
Bryan Jones	Manager of Engineering	45.00	Highest	$147,255	$27,445	$174,700
Kenneth Boudreaux	Lineman	50.00	Highest	$143,554	$40,460	$184,014
Ricky Simpson	Lineman	50.00	Highest	$147,630	$34,447	$182,077
Grayden McDaniel	Lineman	54.00	Highest	$144,125	$34,710	$178,835
Daniel Anthony	Lineman	54.00	Highest	$144,179	$34,653	$178,832

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	$124,826,654	$123,322,206	$292,574,689	$1,504,448
2023	$119,527,789	$116,982,593	$285,436,226	$2,545,196
2022	$117,802,311	$116,915,429	$276,965,432	$886,882
2022	$117,802,311	$116,915,429	$276,965,432	$886,882
2021	$97,380,073	$93,942,930	$266,667,290	$3,437,143
2020	$92,172,871	$90,233,312	$227,991,682	$1,939,559

WASHINGTON-ST TAMMANY ELECTRIC COOPERATIVE INC 1570