NORTHFORK ELECTRIC COOPERATIVE INC (EIN 730375288) - 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

1939

Legal Domicile

Principal Officer

BRENT MEADOR

Phone

5809283366

Tax Period

2023-01-01 to 2023-12-31

NORTHFORK ELECTRIC COOPERATIVE INC, founded in 1939, is a mid-sized nonprofit that reported $24.0M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year.

Mission

TO PROVIDE ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.

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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 $23,856,374

Investment Income $94,638

Other Revenue $17,519

TOTAL REVENUE $23,968,531

Expense Breakdown

Grants Paid $0

Salaries & Benefits $992,328

Fundraising Expenses $0

Program Expenses $23,972,340

Other Expenses $20,526,586

TOTAL EXPENSES $23,972,340

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,968,531	$25,525,722	-0.1%
Expenses	$23,972,340	$25,529,294	-0.1%
Net Income	$-3,809	$-3,572	+0.1%

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

$300,947

Total Directors

$186,285

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRENT MEADOR	GENERAL MANA	50.00	Officer	$251,308	$49,639	$300,947
THOMAS SAWYER	DIRECTOR OPE	40.00	Highest	$113,446	$58,918	$172,364
RONNIE WALDROP	LINE SUPERIN	40.00	Highest	$105,352	$62,065	$167,417
GLEN TIGNOR	MAINTENANCE	40.00	Highest	$109,790	$55,524	$165,314
CHAD SMITH	SECRETARY	6.00	Director	$32,448	$0	$32,448
BRAD HARRISON	TRUSTEE	6.00	Director	$29,898	$0	$29,898
BANDY SILK	VICE PRESIDE	5.50	Director	$29,598	$0	$29,598
BRANDON HICKEY	TRUSTEE	5.00	Director	$28,848	$0	$28,848
JAMES C TAYLOR	PRESIDENT	6.00	Director	$23,281	$0	$23,281
CHRIS MACKEY	TRUSTEE	5.50	Director	$21,631	$0	$21,631
CHARLES L HICKEY	TRUSTEE	4.50	Director	$20,581	$0	$20,581

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	$23,968,531	$23,972,340	$83,823,471	$-3,809
2022	$25,525,722	$25,529,294	$80,830,448	$-3,572
2021	$21,969,942	$21,967,568	$79,367,603	$2,374
2020	$18,564,297	$18,566,744	$77,287,777	$-2,447
2019	$19,451,049	$19,447,537	$75,868,231	$3,512
2018	$21,032,582	$21,022,632	$76,698,539	$9,950

NORTHFORK ELECTRIC COOPERATIVE INC