HEARTLAND RURAL ELECTRIC COOPERATI… - Form 990 Financial Data

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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

1996

Legal Domicile

Principal Officer

LAVONNA STAINBROOK

Phone

6207248251

Tax Period

2023-01-01 to 2023-12-31

HEARTLAND RURAL ELECTRIC COOPERATIVE, founded in 1996, is a mid-sized nonprofit that reported $26.6M in total revenue in fiscal year 2023.

Mission

TO MEET OUR MEMBERS' NEEDS AND EXPECTATIONS FOR RELIABLE ELECTRICITY, SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT REASONABLE PRICES.

Program Service Accomplishments

Program 1

TO PROVIDE ELECTRICITY TO OUR MEMBERS - 11,930 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.

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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 $26,331,195

Investment Income $188,416

Other Revenue $42,715

TOTAL REVENUE $26,562,326

Expense Breakdown

Grants Paid $15,101

Salaries & Benefits $1,207,649

Fundraising Expenses $0

Other Expenses $24,245,241

TOTAL EXPENSES $26,857,157

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,562,326	$27,938,425	0.0%
Expenses	$26,857,157	$27,938,425	0.0%
Net Income	$-294,831	N/A	N/A

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

$325,204

Total Directors

$77,737

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK SCHEIBE	CEO	65.00	Officer	$258,687	$66,517	$325,204
ANTHONY WASHINGTON	ELEC SYSTEM	48.00	Highest	$129,988	$94,937	$224,925
DAN AVERY	DIR OF OPERA	48.00	Highest	$141,642	$68,163	$209,805
JUSTIN WEIMER	IT MANAGER	43.00	Highest	$121,259	$41,996	$163,255
LARISSA BOWMAN	DIRECTOR OF	60.00	Highest	$118,610	$25,495	$144,105
STEVE MCFARLAND	DIRECTOR	3.00	Director	$14,711	$0	$14,711
RONALD TAYLOR	DIRECTOR	3.00	Director	$11,250	$0	$11,250
LARRY LINDBERG	DIRECTOR	2.00	Director	$9,948	$0	$9,948
LAVONNA STAINBROOK	DIRECTOR	3.00	Director	$9,948	$0	$9,948
HH STOCKERBRAND	DIRECTOR	3.00	Director	$9,514	$0	$9,514
ERNIE TROTH	DIRECTOR	3.00	Director	$9,080	$0	$9,080
TYLER JACKMAN	DIRECTOR	1.00	Director	$6,910	$0	$6,910
DEAN DAVIED	DIRECTOR	1.00	Director	$6,376	$0	$6,376

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	$26,562,326	$26,857,157	$72,640,677	$-294,831
2022	$27,938,425	$27,938,425	$71,044,104	No data
2021	$27,252,975	$26,980,841	$67,454,805	$272,134
2020	$23,890,407	$23,890,407	$65,811,404	No data
2019	$25,355,845	$25,355,845	$62,906,650	No data
2018	$26,064,421	$26,064,421	$58,085,310	No data

HEARTLAND RURAL ELECTRIC COOPERATIVE