Brazos Electric Power Cooperative Inc (EIN 740524729) - 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

1941

Legal Domicile

Phone

2547506500

Tax Period

2024-01-01 to 2024-12-31

Brazos Electric Power Cooperative Inc, founded in 1941, is a major nonprofit that reported $312.1M in total revenue in fiscal year 2024. Expenses of $295.6M left a modest 5% surplus.

Mission

Brazos Electric provides safe, reliable, and cost-effective transmission and distribution service to members and wholesale transmission customers while supporting the reliability of the bulk power system.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $302,244,796

Investment Income $4,730,648

Other Revenue $5,149,179

TOTAL REVENUE $312,124,623

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,288,090

Fundraising Expenses $0

Program Expenses $0

Other Expenses $265,190,116

TOTAL EXPENSES $295,608,811

Year-over-Year Comparison

	2024	2023	Change
Revenue	$312,124,623	$292,090,235	+0.1%
Expenses	$295,608,811	$275,623,370	+0.1%
Net Income	$16,515,812	$16,466,865	+0.0%

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

306

Volunteers

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

$1,465,526

Total Directors

$493,678

Key Employees

$2,612,411

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AUDIE MORRIS	VICE PRESIDENT	9.0	Officer Director	$43,573	$0	$43,573
DENNIS MCWHORTER	PRESIDENT	20.0	Officer Director	$43,139	$0	$43,139
RICK ICKERT	SECRETARY/TREASURER	8.0	Officer Director	$44,007	$0	$44,007
BILLY JONES	DIRECTOR THROUGH 01/31/2024	12.0	Director	$3,087	$0	$3,087
BRANDON YOUNG	DIRECTOR	4.0	Director	$0	$0	$0
CAMERON SMALLWOOD	DIRECTOR	2.0	Director	$0	$0	$0
CODY LASATER	DIRECTOR	3.0	Director	$0	$0	$0
DONNIE CLARY	DIRECTOR 03/01/2024 THROUGH 03/31/2024	6.0	Director	$0	$0	$0
FRANKIE MARTIN	DIRECTOR	4.0	Director	$42,862	$0	$42,862
HENRY BRADFORD	DIRECTOR	4.0	Director	$38,158	$0	$38,158
JILL SADBERRY	DIRECTOR	1.0	Director	$34,958	$0	$34,958
KENNETH ALEXANDER	DIRECTOR THROUGH 07/31/2024	6.0	Director	$19,992	$0	$19,992
MELISSA WATTS	DIRECTOR THROUGH 03/31/2024	6.0	Director	$0	$0	$0
MONTY CARLISLE	DIRECTOR	8.0	Director	$38,785	$0	$38,785
NEIL J HESSE	DIRECTOR	6.0	Director	$0	$0	$0
SCOTT MARTIN	DIRECTOR	4.0	Director	$41,824	$0	$41,824
STEVE JONES	DIRECTOR	12.0	Director	$38,110	$0	$38,110
STEVEN VANN HARRIS	DIRECTOR	6.0	Director	$29,327	$0	$29,327
WILLIAM ALLEN	DIRECTOR	8.0	Director	$38,013	$0	$38,013
WILLIAM RAGSDALE	DIRECTOR	15.0	Director	$37,843	$0	$37,843
KHAKI BORDOVSKY	CFO - VP OF CORPORATE SERVICES	45.0	Officer	$431,838	$65,178	$497,016
MARK FAGAN	EXECUTIVE VP & GM	50.0	Officer	$758,684	$79,107	$837,791
DAVID ALBERS	VICE PRESIDENT - ENGINEERING & SYSTEM PLANNING	42.0	Key Emp	$216,146	$75,126	$291,272
DAVID WEBB	COO - VP OF OPS & MAINT	45.0	Key Emp	$210,454	$61,991	$272,445
JOHNNY YORK	VICE PRESIDENT - TRANSMISSION THROUGH 10/31/2024	41.0	Key Emp	$472,994	$312,804	$785,798
KYLE MINNIX	DIRECTOR OF MEMBER SERVICES	47.0	Key Emp	$255,976	$93,457	$349,433
MARK PAVELKA	DIRECTOR OF PROJECT MGMT & BUS DEV	48.0	Key Emp	$224,957	$60,931	$285,888
RODNEY LITTLE	CHIEF TECHNOLOGY OFFICER - VP OF IS	41.0	Key Emp	$249,036	$40,607	$289,643
SHARI HEINO	CHIEF RISK & COMPLIANCE OFFICER	45.0	Key Emp	$278,119	$59,813	$337,932
ANTHONY KROSKEY	MANAGER TRANSMISSION SYSTEM OPERATIONS	43.0	Highest	$215,746	$84,723	$300,469
DAVID FOX	MANAGER FISCAL SERVICES & CONTROLLER	47.0	Highest	$226,426	$56,445	$282,871
DEBRA WENDROCK	MANAGER HUMAN RESOURCES	43.0	Highest	$197,858	$58,237	$256,095
JEFFREY STEBBINS	MANAGER TRANSMISSION MAINTENANCE	44.0	Highest	$197,884	$51,309	$249,193
TIMOTHY HARTZ	MANAGER TRANSMISSION ENGINEERING	47.0	Highest	$193,446	$53,592	$247,038
CLIFTON KARNEI	FORMER EXECUTIVE VP & GM	0.0		$683,048	$-40,424	$642,624
JOSHUA CLEVENGER	FORMER VICE PRESIDENT - POWER SUPPLY	0.0		$223,615	$1,184	$224,799

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	$312,124,623	$295,608,811	$1,802,974,037	$16,515,812
2023	$292,090,235	$275,623,370	$1,676,992,262	$16,466,865
2022	$1,870,614,504	$2,636,440,308	$2,840,038,435	$-765,825,804
2021	$3,817,080,554	$3,820,988,870	$5,681,362,952	$-3,908,316
2020	$1,063,273,259	$1,063,177,881	$3,165,904,422	$95,378
2019	$1,062,175,830	$1,062,147,048	$3,055,152,025	$28,782
2018	$1,062,055,216	$1,062,047,467	$3,025,402,476	$7,749

Brazos Electric Power Cooperative Inc