HILCO ELECTRIC COOPERATIVE INC

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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

1936

Legal Domicile

Principal Officer

THOMAS CHEEK

Phone

2546872331

Tax Period

2023-01-01 to 2023-12-31

HILCO ELECTRIC COOPERATIVE INC, founded in 1936, is a major nonprofit that reported $111.9M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion.

Mission

THE AIM OF THE COOPERATIVE IS TO PROVIDE ELECTRIC ENERGY AND OTHER GOODS AND SERVICES AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

Program Service Accomplishments

Program 1

PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 34,291 ACTIVE SERVICES AT YEAR END.

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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 $111,486,746

Investment Income $125,699

Other Revenue $281,881

TOTAL REVENUE $111,894,326

Expense Breakdown

Grants Paid $21,293

Salaries & Benefits $8,065,982

Fundraising Expenses $0

Other Expenses $98,929,440

TOTAL EXPENSES $111,543,599

Year-over-Year Comparison

	2023	2022	Change
Revenue	$111,894,326	$102,294,188	+0.1%
Expenses	$111,543,599	$102,209,738	+0.1%
Net Income	$350,727	$84,450	+3.2%

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

$1,221,187

Total Directors

$173,126

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM ALLEN	VICE PRESIDENT	6.50	Officer Director	$28,792	$0	$28,792
RICHARD WHITE	DIRECTOR (OCT-DEC)	4.90	Director	$4,797	$0	$4,797
MARGARET HILL	DIRECTOR	3.90	Director	$25,175	$0	$25,175
RONALD ROBERTS	DIRECTOR	3.90	Director	$28,823	$0	$28,823
JOSEPH TEDESCO	PRESIDENT	8.80	Officer Director	$29,781	$0	$29,781
JANET SMITH	SECRETARY/TREASURER	8.40	Officer Director	$28,450	$0	$28,450
EDWARD HARRISON	DIRECTOR	3.90	Director	$27,308	$0	$27,308
THOMAS CHEEK	GM/CHIEF EXECUTIVE OFFICER	55.00	Officer	$199,391	$138,227	$337,618
PAULA FARQUHAR	CHIEF FINANCIAL OFFICER	40.00	Officer	$214,134	$95,239	$309,373
DANIEL TAYLOR	CHIEF OPERATIONS OFFICER	40.00	Officer	$191,720	$49,322	$241,042
LEA SANDERS	CHIEF HR OFFICER	45.00	Officer	$203,810	$42,321	$246,131
CHARLES HENKELMAN	CONSTRUCTION FOREMAN	40.00	Highest	$145,565	$56,046	$201,611
TRAVIS SANDERS	OPERATIONS MANAGER	40.00	Highest	$153,439	$109,950	$263,389
MATTHEW FEHNEL	DIRECTOR OF IS/IT	40.00	Highest	$143,478	$46,972	$190,450
MICHAEL ZAMZOW	FIRST CLASS LINEMAN	52.00	Highest	$139,584	$39,312	$178,896
CLAYTON THOMPSON	LEAD CONSTRUCTION LINEMAN	43.00	Highest	$124,605	$47,974	$172,579

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	$111,894,326	$111,543,599	$215,381,610	$350,727
2022	$102,294,188	$102,209,738	$206,251,275	$84,450
2021	$73,939,811	$74,016,886	$192,701,564	$-77,075
2020	$63,687,126	$63,834,894	$179,717,909	$-147,768
2019	$65,322,295	$65,561,913	$174,023,288	$-239,618
2018	$63,441,612	$63,680,197	$170,686,674	$-238,585