KARNES ELECTRIC COOPERATIVE INC (EIN 740720615) - 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

1938

Legal Domicile

Principal Officer

ERIC HALFMANN

Phone

8307809292

Tax Period

2023-01-01 to 2023-12-31

KARNES ELECTRIC COOPERATIVE INC, founded in 1938, is a major nonprofit that reported $128.0M in total revenue in fiscal year 2023.

Mission

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

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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 $127,564,302

Investment Income $458,534

Other Revenue $20,470

TOTAL REVENUE $128,043,306

Expense Breakdown

Grants Paid $53,650

Salaries & Benefits $7,728,024

Fundraising Expenses $0

Other Expenses $109,055,088

TOTAL EXPENSES $130,460,306

Year-over-Year Comparison

	2023	2022	Change
Revenue	$128,043,306	$131,910,540	0.0%
Expenses	$130,460,306	$129,360,540	+0.0%
Net Income	$-2,417,000	$2,550,000	-1.9%

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

$467,501

Total Directors

$160,070

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL BRYSCH JR	PRESIDENT	6.56	Officer Director	$33,346	$0	$33,346
FRANK GEYER JR	ASST SECRETARY/TREASURER	8.58	Officer Director	$29,366	$0	$29,366
CLIF ROYAL	VICE PRESIDENT	3.15	Officer Director	$28,087	$0	$28,087
ROSS NIESCHWITZ	DIRECTOR	0.75	Director	$26,587	$0	$26,587
LARRY SCHENDEL	SECRETARY/TREASURER	3.37	Officer Director	$16,592	$0	$16,592
SHIRLEY HOFMANN	DIRECTOR	3.64	Director	$14,417	$0	$14,417
SCOTT MCCLAUGHERTY	DIRECTOR	3.23	Director	$11,675	$0	$11,675
BRADLEY BIERSTEDT	GENERAL MANAGER (RETIRED DEC '23)	60.00	Officer	$264,140	$91,696	$355,836
ERIC HALFMANN	GENERAL MANAGER	55.00	Officer	$4,274	$0	$4,274
PATRICK JANYSEK	OPERATIONS SUPERINTENDENT	50.00	Highest	$174,400	$68,575	$242,975
JOE ESCANDON	CONSTRUCTION FOREMAN	50.00	Highest	$166,393	$53,945	$220,338
RANDY ORTIZ	SERVICEMAN	50.00	Highest	$176,960	$43,176	$220,136
JESSE BENAVIDES	SERVICEMAN	50.00	Highest	$170,655	$37,413	$208,068
RUDOLFO TORRES	CONSTRUCTION FOREMAN	50.00	Highest	$154,688	$51,888	$206,576

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	$128,043,306	$130,460,306	$223,741,319	$-2,417,000
2022	$131,910,540	$129,360,540	$218,729,307	$2,550,000
2021	$101,891,775	$101,351,775	$202,970,400	$540,000
2020	$96,653,987	$96,923,987	$195,433,978	$-270,000
2019	$103,323,530	$103,153,530	$193,360,823	$170,000
2018	$100,931,222	$100,575,222	$179,540,842	$356,000

KARNES ELECTRIC COOPERATIVE INC