KAY ELECTRIC COOPERATIVE INC (EIN 730308955) - 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

1937

Legal Domicile

Principal Officer

JASON BOESCH

Phone

5803631260

Tax Period

2023-01-01 to 2023-12-31

KAY ELECTRIC COOPERATIVE INC, founded in 1937, is a mid-sized nonprofit that reported $42.0M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year.

Mission

TO PROVIDE RELIABLE ELECTRICITY TO OUR MEMBER/OWNERS AT A REASONABLE COST.

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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 $41,546,187

Investment Income $332,073

Other Revenue $109,419

TOTAL REVENUE $41,987,679

Expense Breakdown

Grants Paid $19,341

Salaries & Benefits $4,104,143

Fundraising Expenses $0

Other Expenses $34,591,357

TOTAL EXPENSES $41,826,222

Year-over-Year Comparison

	2023	2022	Change
Revenue	$41,987,679	$47,046,293	-0.1%
Expenses	$41,826,222	$46,816,280	-0.1%
Net Income	$161,457	$230,013	-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

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

$739,978

Total Directors

$288,080

Key Employees

$238,691

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MAX HOHMANN	PRESIDENT	5.70	Officer Director	$33,735	$0	$33,735
VERL BRORSEN	VICE PRESIDENT	4.30	Officer Director	$35,381	$0	$35,381
RON SHOFFNER	SECRETARY/TREASURER	3.20	Officer Director	$32,657	$0	$32,657
TIM BLANTON	TRUSTEE	6.00	Director	$36,247	$0	$36,247
BRADY HOSTETLER	TRUSTEE	4.10	Director	$33,695	$0	$33,695
MICHAEL LEBEDA	TRUSTEE	4.90	Director	$28,319	$0	$28,319
BART CARDWELL	TRUSTEE	4.50	Director	$26,502	$0	$26,502
JAKE OLSEN	TRUSTEE	4.50	Director	$32,681	$0	$32,681
CHAD OTTO	TRUSTEE	4.10	Director	$28,863	$0	$28,863
JASON BOESCH	CHIEF EXECUTIVE OFFICER	50.00	Officer	$227,465	$172,478	$399,943
JOSEPH SOULEK	CHIEF OPERATING OFFICER	51.00	Officer	$161,506	$76,756	$238,262
DOUGLAS WORLEY	DIRECTOR OF ENGINEERING	48.00	Key Emp	$162,788	$75,903	$238,691
DAVID CHILDERS	DIRECTOR OF ACCOUNTING	43.00	Highest	$141,237	$74,921	$216,158
HEATH LAMBERT	DIRECTOR OF OPERATIONS	54.00	Highest	$124,950	$65,403	$190,353
TERRY GRACE	LINE FOREMAN	45.00	Highest	$118,996	$34,187	$153,183
JAMES RIGDON	LINE FOREMAN	47.00	Highest	$106,607	$75,195	$181,802
ROBIN POWELL	BILLING MANAGER	50.00	Highest	$102,656	$106,355	$209,011

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	$41,987,679	$41,826,222	$103,269,470	$161,457
2022	$47,046,293	$46,816,280	$96,629,831	$230,013
2021	$38,874,872	$38,740,860	$91,756,147	$134,012
2020	$32,473,163	$32,179,034	$87,776,196	$294,129
2019	$34,475,847	$34,364,423	$83,849,236	$111,424
2018	$34,631,223	$34,480,446	$81,406,718	$150,777

KAY ELECTRIC COOPERATIVE INC