CONCHO VALLEY ELECTRIC COOPERATIVE… - 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

1940

Legal Domicile

Principal Officer

KELLY LANKFORD

Phone

3256556957

Tax Period

2024-01-01 to 2024-12-31

CONCHO VALLEY ELECTRIC COOPERATIVE INC, founded in 1940, is a mid-sized nonprofit that reported $51.6M in total revenue in fiscal year 2024.

Mission

CONCHO VALLEY ELECTRIC COOPERATIVE, INC. DEDICATES ITSELF TO THE IMPROVEMENT OF ITS MEMBERS' LIFESTYLE AND THE ECONOMIC ENVRIONMENT OF ITS SERVICE AREA. THE COOPERATIVE IS COMMITTED TO PROVIDING SAFE, RELIABLE ELECTRIC SERVICE AT THE LOWEST PRACTICAL COST AND TO MEETING THE CHANGING NEEDS OF ITS MEMBERSHIP WITH A WELL-TRAINED, QUALITY WORKFORCE AND WITH THE USE OF SOUND BUSINESS PRACTICES.

Program Service Accomplishments

Program 1

ELECTRIC DIVISION:SALES OF ELECTRIC POWER TO MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 16,114 ACTIVE SERVICES AT YEAR END.

Program 2

BROADBAND DIVISION:SALES OF FIBER BASED BROADBAND INTERNET SERVICES TO MEMBERS ON A COOPERATIVE BASIS. WHEN CUMULATIVE NET MARGINS DERIVED FROM MEMBER SALES OF BROADBAND INTERNET SERVICES EXCEED...

BROADBAND DIVISION:SALES OF FIBER BASED BROADBAND INTERNET SERVICES TO MEMBERS ON A COOPERATIVE BASIS. WHEN CUMULATIVE NET MARGINS DERIVED FROM MEMBER SALES OF BROADBAND INTERNET SERVICES EXCEED CUMULATIVE NET LOSSES FROM SUCH SALES, THE COOPERATIVE WILL ALLOCATE PATRONAGE CAPITAL TO THE MEMBER SUBSCRIBERS OF THIS DIVISION. THERE WERE 310 BROADBAND SUBSCRIBERS 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $51,365,698

Investment Income $94,183

Other Revenue $128,495

TOTAL REVENUE $51,588,376

Expense Breakdown

Grants Paid $28,308

Salaries & Benefits $6,406,347

Fundraising Expenses $0

Other Expenses $39,526,623

TOTAL EXPENSES $51,588,376

Year-over-Year Comparison

	2024	2023	Change
Revenue	$51,588,376	$51,035,614	+0.0%
Expenses	$51,588,376	$51,035,614	+0.0%
Net Income	$0	$0	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

$509,124

Total Directors

$20,250

Key Employees

$220,537

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DARYL SCHNIERS	DIRECTOR	4.50	Director	$3,300	$0	$3,300
DAVID KEMPEN	DIRECTOR	6.10	Director	$4,450	$0	$4,450
JEFF COPELAND	PRESIDENT	27.00	Officer Director	$3,500	$0	$3,500
RALPH WILLBERG	DIRECTOR	4.20	Director	$2,400	$0	$2,400
THOMAS CARTER	SECRETARY/TREASURER	12.60	Officer Director	$2,000	$0	$2,000
LARRY W KLATTENHOFF	VICE-PRESIDENT	5.60	Officer Director	$2,200	$0	$2,200
WILLIAM WIGGINS	DIRECTOR	3.80	Director	$2,400	$0	$2,400
KELLY LANKFORD	EXECUTIVE VP/CEO	50.70	Officer	$373,841	$127,583	$501,424
DUSTIN BROWN	DIR OF ENGINEERING & OPERATIONS	42.50	Key Emp	$166,287	$54,250	$220,537
TERRY WARD	ENGINEERING FOREMAN	47.30	Highest	$148,578	$52,677	$201,255
JONATHAN CUTRER	DIR OF INFORMATION TECHNOLOGY	40.10	Highest	$147,568	$65,593	$213,161
DAVID WATSON	DIR OF FINANCE & OFFICE SERVICES	41.40	Highest	$146,885	$92,921	$239,806
BUSTER MATHENY	LINE SUPERINTENDENT	42.60	Highest	$131,293	$47,415	$178,708
DOUGLAS CLARK	ENGINEERING SYSTEMS ADMINISTRATOR	43.60	Highest	$122,596	$47,435	$170,031

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	$51,588,376	$51,588,376	$162,168,376	No data
2023	$51,035,614	$51,035,614	$163,180,402	No data
2022	$52,841,209	$52,841,209	$144,391,966	No data
2021	$44,400,615	$44,400,615	$125,005,347	No data
2020	$43,515,950	$43,515,950	$116,671,669	No data
2019	$41,382,424	$41,382,424	$107,871,022	No data
2018	$39,758,524	$39,758,524	$103,487,457	No data

CONCHO VALLEY ELECTRIC COOPERATIVE INC