GRAYSON-COLLIN ELECTRIC COOPERATIVE INC (EIN 750300645) - 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

DAVID MCGINNIS

Phone

9034827100

Tax Period

2023-01-01 to 2023-12-31

GRAYSON-COLLIN ELECTRIC COOPERATIVE INC, founded in 1937, is a major nonprofit that reported $199.7M 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 $197,145,641

Investment Income $1,568,307

Other Revenue $1,033,585

TOTAL REVENUE $199,747,533

Expense Breakdown

Grants Paid $27,424

Salaries & Benefits $12,772,351

Fundraising Expenses $0

Other Expenses $180,160,981

TOTAL EXPENSES $196,774,554

Year-over-Year Comparison

	2023	2022	Change
Revenue	$199,747,533	$205,305,170	0.0%
Expenses	$196,774,554	$203,332,128	0.0%
Net Income	$2,972,979	$1,973,042	+0.5%

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

147

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

$1,612,929

Total Directors

$135,539

Key Employees

$1,537,731

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE ROBINSON	PRESIDENT	4.00	Officer Director	$17,732	$0	$17,732
PAUL KIRKLAND	VICE PRESIDENT	4.00	Officer Director	$14,167	$0	$14,167
JIM COPELAND	SECRETARY/TREASURER	4.00	Officer Director	$43,004	$0	$43,004
DAVID ELLIS	DIRECTOR	4.00	Director	$42,804	$0	$42,804
DENNIS FERGUSON	DIRECTOR	4.00	Director	$17,832	$0	$17,832
DAVID MCGINNIS	GENERAL MANAGER/CEO	60.00	Officer	$534,884	$59,321	$594,205
KEVIN STEVENS	COO	60.00	Officer	$288,367	$54,079	$342,446
CHRIS OFFILL	CEO/CFO COMMUNICATIONS	50.00	Officer	$241,208	$52,082	$293,290
MIKE ROLANDT	CFO	45.00	Officer	$243,097	$64,988	$308,085
TRACY BEGLEY	MANAGER OF INSIDE OPERATIONS	45.00	Key Emp	$241,784	$63,809	$305,593
PAUL YATES	MANAGER OF UNDERGROUND OPERATIONS	40.00	Key Emp	$226,484	$49,291	$275,775
JEFF SMITH	MANAGER OF INFORMATION TECHNOLOGY	40.00	Key Emp	$202,614	$48,633	$251,247
EDDY REECE	MANAGER OF SUBSTATIONS	60.00	Key Emp	$171,272	$58,588	$229,860
LESLIE SIMCO	MANAGER OF OPERATIONS	45.00	Key Emp	$192,398	$59,714	$252,112
MARTY JONES	MANAGER OF OPERATIONS	55.00	Key Emp	$177,242	$45,902	$223,144
MICHAEL LAUER	MANAGER OF BUS. DEVELOPMENT	43.00	Highest	$190,327	$47,066	$237,393
JASON SPROWL	MANAGER OF OPERATIONS - LOSS CONTROL	43.00	Highest	$188,601	$59,392	$247,993
WILLIAM MCGINNIS	MANAGER OF BUS. DEVELOPMENT	50.00	Highest	$184,611	$55,059	$239,670
MARC KARO	FOREMAN	50.00	Highest	$178,769	$54,780	$233,549
SHAWN WRIGHT	LINE SUPERINTENDENT - SERVICE SUPERVISOR	40.00	Highest	$170,394	$41,441	$211,835

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	$199,747,533	$196,774,554	$646,811,614	$2,972,979
2022	$205,305,170	$203,332,128	$551,504,092	$1,973,042
2021	$143,205,485	$142,273,656	$476,652,909	$931,829
2020	$128,978,536	$128,836,095	$431,935,374	$142,441
2019	$143,326,160	$142,121,160	$404,956,176	$1,205,000
2018	$134,313,434	$134,413,434	$381,734,801	$-100,000

GRAYSON-COLLIN ELECTRIC COOPERATIVE INC