LAMAR COUNTY 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

1938

Legal Domicile

Principal Officer

Bryan Story

Phone

9037844303

Tax Period

2024-01-01 to 2024-12-31

LAMAR COUNTY ELECTRIC COOPERATIVE ASSOCIATION, founded in 1938, is a mid-sized nonprofit that reported $37.2M in total revenue in fiscal year 2024.

Mission

THE COOPERATIVE'S RESPONSIBILITY AND AIM IS TO PROVIDE EXCELLENT AND INNOVATIVE CUSTOMER SERVICE AS REFLECTED IN TOP QUALITY ELECTRIC SERVICE, RELIABILITY, AFFORDABLE RATES, EMPLOYEE TEAMWORK AND THE HIGHEST DEGREE OF INTEGRITY IN ALL COOPERATIVE ENDEAVORS.

Program Service Accomplishments

Program 1

PROVIDING ELECTRIC ENERGY TO OUR MEMBERS - 13,739 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $35,830,607

Investment Income $865,009

Other Revenue $461,656

TOTAL REVENUE $37,157,272

Expense Breakdown

Grants Paid $6,000

Salaries & Benefits $3,844,793

Fundraising Expenses $0

Program Expenses $0

Other Expenses $31,280,174

TOTAL EXPENSES $37,163,272

Year-over-Year Comparison

	2024	2023	Change
Revenue	$37,157,272	$36,424,011	+0.0%
Expenses	$37,163,272	$36,432,011	+0.0%
Net Income	$-6,000	$-8,000	-0.3%

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

$287,627

Total Directors

$52,688

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRYAN STORY	CHIEF EXECUTIVE OFFICER	40	Officer	$200,114	$59,919	$260,033
JEFFREY S SANSOM	OPERATIONS MANAGER	40	Highest	$150,735	$80,195	$230,930
WILL ARMSTRONG	WORKING FOREMAN	40	Highest	$114,361	$90,152	$204,513
RONNIE BRIDGES	WORKING FOREMAN	40	Highest	$114,574	$71,048	$185,622
DREW CONDER	RIGHT-OF-WAY SUPERINTENDENT	40	Highest	$117,415	$52,818	$170,233
RYAN DEAN	ENGINEERING AND TRANSMISSION TECHNICIAN	40	Highest	$123,140	$18,140	$141,280
GEORGE M WOOD	PRESIDENT	1.55	Officer	$9,600	$598	$10,198
JEREMY HAMIL	DIRECTOR	1.18	Director	$9,000	$598	$9,598
LYLE D YODER	VICE PRESIDENT	1.18	Officer	$9,000	$598	$9,598
RON E TIPPIT	DIRECTOR	1.45	Director	$8,400	$598	$8,998
JAMES FLOYD	DIRECTOR	1.45	Director	$8,400	$598	$8,998
BARBARA GOLDEN	DIRECTOR	1.32	Director	$8,400	$598	$8,998
MATTHEW ALBUS	DIRECTOR	1.1	Director	$7,800	$598	$8,398
MICHAEL WILLIAMS	SECRETARY/TREASURER	1.3	Officer	$7,200	$598	$7,798
JOSH HOSTETLER	DIRECTOR	1.04	Director	$7,200	$498	$7,698

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	$37,157,272	$37,163,272	$78,378,702	$-6,000
2023	$36,424,011	$36,432,011	$60,763,330	$-8,000
2022	$28,280,348	$28,285,348	$60,876,804	$-5,000
2021	$26,225,127	$26,231,127	$56,291,854	$-6,000
2020	$23,642,838	$23,648,838	$55,636,519	$-6,000
2019	$24,640,236	$24,645,234	$52,717,570	$-4,998
2018	$25,164,990	$25,170,990	$48,058,095	$-6,000

LAMAR COUNTY ELECTRIC COOPERATIVE ASSOCIATION