FARMERS ELECTRIC COOPERATIVE INC (EIN 750263046) - 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

1937

Legal Domicile

Principal Officer

MARK STUBBS

Phone

9034551715

Tax Period

2023-01-01 to 2023-12-31

FARMERS ELECTRIC COOPERATIVE INC, founded in 1937, is a major nonprofit that reported $205.1M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year.

Mission

TO PROVIDE QUALITY ELECTRIC SERVICE TO MEMBER-OWNERS AT A REASONABLE COST.

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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 $203,936,861

Investment Income $256,843

Other Revenue $874,203

TOTAL REVENUE $205,067,907

Expense Breakdown

Grants Paid $32,713

Salaries & Benefits $16,805,540

Fundraising Expenses $0

Other Expenses $173,268,658

TOTAL EXPENSES $205,682,056

Year-over-Year Comparison

	2023	2022	Change
Revenue	$205,067,907	$223,821,354	-0.1%
Expenses	$205,682,056	$219,660,101	-0.1%
Net Income	$-614,149	$4,161,253	-1.1%

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

208

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

$1,352,864

Total Directors

$251,278

Key Employees

$3,224,769

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARTIN ALLAIN	DIRECTOR	4.10	Director	$26,007	$0	$26,007
WAYNE DOUGLAS	DIRECTOR	4.80	Director	$28,465	$0	$28,465
TOMMY PULLIAM	VICE PRESIDENT	4.40	Officer Director	$26,993	$0	$26,993
BOB MIDDLETON JR	SECRETARY	6.20	Officer Director	$31,142	$0	$31,142
DON PHILLIPS	DIRECTOR	3.60	Director	$25,873	$0	$25,873
BILL SAMUELS	PRESIDENT	6.50	Officer Director	$28,229	$0	$28,229
MARVIN FULLER	DIRECTOR	5.10	Director	$26,007	$0	$26,007
PAUL TALLANT	DIRECTOR	4.90	Director	$28,479	$0	$28,479
LARRY LANE	DIRECTOR	5.80	Director	$30,083	$0	$30,083
MARK STUBBS	CEO/GENERAL MANAGER	48.00	Officer	$662,418	$180,924	$843,342
KATHY SCROGGINS	CFO/DIRECTOR OF FINANCE	45.00	Officer	$300,358	$122,800	$423,158
SAMANTHA CROUCH BAXTER	GEN COUNSEL/SR DIRECTOR	50.00	Key Emp	$367,166	$91,139	$458,305
BRIAN GREEN	SR DIRECTOR OF ENGINEERING/OP	50.00	Key Emp	$366,131	$123,979	$490,110
DAVID MARK LYLES	DIRECTOR OF ADMINISTRATION	50.00	Key Emp	$298,423	$109,553	$407,976
DAVID EARLS	MANAGER OF OPERATIONS	60.00	Key Emp	$199,617	$63,065	$262,682
ANTHONY GRANT	MANAGER OF IT	50.00	Key Emp	$187,392	$85,666	$273,058
SHAUN CHRONISTER	MANAGER OF ENGINEERING	50.00	Key Emp	$172,613	$62,232	$234,845
MICHAEL HALE	MANAGER OF POWER QUALITY	50.00	Key Emp	$162,563	$71,965	$234,528
ROSA GARMON	MANAGER OF MEMBER CARE	50.00	Key Emp	$161,783	$79,229	$241,012
CRAIG ANDERSON	CREW FOREMAN	48.50	Key Emp	$158,164	$41,248	$199,412
JAMES NIMMO	MGR OF COMMUNICATIONS	50.00	Key Emp	$158,156	$61,836	$219,992
TABITHA BRYANT	MGR OF HR & DEVELOPMENT	50.00	Key Emp	$156,787	$46,062	$202,849
BRIAN SIMS	LINE SUPERINTENDENT	55.00	Highest	$146,732	$58,870	$205,602
JASON BAIR	BUCKET OPERATOR	47.00	Highest	$140,877	$35,116	$175,993
BRANDAN BLUNT	CREW FOREMAN	45.00	Highest	$140,619	$46,126	$186,745
GARY GILES	LINE SUPERINTENDENT	50.00	Highest	$136,081	$68,436	$204,517
FRANK SPATARO	SR PROJECT COORDINATOR	41.00	Highest	$135,888	$41,278	$177,166

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	$205,067,907	$205,682,056	$485,382,315	$-614,149
2022	$223,821,354	$219,660,101	$432,838,169	$4,161,253
2021	$165,790,839	$162,577,860	$380,713,687	$3,212,979
2020	$146,859,103	$145,884,227	$357,035,116	$974,876
2019	$150,509,505	$150,474,992	$337,924,602	$34,513
2018	$149,207,895	$147,035,710	$322,290,389	$2,172,185

FARMERS ELECTRIC COOPERATIVE INC