SWISHER ELECTRIC COOPERATIVE INC

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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

1939

Legal Domicile

Principal Officer

DWAIN TIPTON

Phone

8069953567

Tax Period

2023-01-01 to 2023-12-31

SWISHER ELECTRIC COOPERATIVE INC, founded in 1939, is a mid-sized nonprofit that reported $29.7M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

TO SUPPLY THE PRESENT AND FUTURE ELECTRICAL SERVICE NEEDS TO ITS MEMBERS IN AN EFFICIENT AND ECONOMICAL MANNER AND TO HAVE A SOUND FINANCIAL BASE IN ORDER TO PROVIDE THE HIGHEST RELIABILITY OF SERVICE WITH INTEGRITY, INNOVATION, ACCOUNTABILITY AND COMMITMENT TO COMMUNITY THEREBY ENHANCING THE QUALITY OF LIFE FOR ALL OUR MEMBERS.

Program Service Accomplishments

Program 1

PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 7,930 ACTIVE SERVICES 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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $29,000,416

Investment Income $656,588

Other Revenue $24,882

TOTAL REVENUE $29,681,886

Expense Breakdown

Grants Paid $12,954

Salaries & Benefits $3,284,275

Fundraising Expenses $0

Other Expenses $21,335,675

TOTAL EXPENSES $29,147,678

Year-over-Year Comparison

	2023	2022	Change
Revenue	$29,681,886	$25,409,868	+0.2%
Expenses	$29,147,678	$25,195,462	+0.2%
Net Income	$534,208	$214,406	+1.5%

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

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

$576,683

Total Directors

$166,223

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF HARRELL	DIRECTOR	2.50	Director	$27,874	$0	$27,874
DWAIN STRANGE	PRESIDENT	1.33	Officer Director	$27,392	$0	$27,392
BILLY COGDELL	ASSISTANT SECRETARY/TREASU	1.00	Officer Director	$27,389	$0	$27,389
RALPH FROST	DIRECTOR	2.50	Director	$27,389	$0	$27,389
MACE MIDDLETON	VICE PRESIDENT	1.00	Officer Director	$27,389	$0	$27,389
BRAD SHARP	DIRECTOR	1.12	Director	$14,536	$0	$14,536
JIMMY BURSON	SECRETARY/TREASURER	0.62	Officer Director	$14,254	$0	$14,254
DWAIN TIPTON	GENERAL MANAGER	55.00	Officer	$171,319	$139,206	$310,525
JASMINE DICKSON	DIRECTOR OF FINANCE	40.00	Officer	$109,386	$60,348	$169,734
MARY ELLEN MCMANUS	DIRECTOR OF ENGINEERING &	40.00	Highest	$167,111	$60,256	$227,367

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	$29,681,886	$29,147,678	$74,088,466	$534,208
2022	$25,409,868	$25,195,462	$71,325,380	$214,406
2021	$23,059,880	$22,880,429	$72,434,253	$179,451
2020	$22,049,621	$22,192,234	$69,481,548	$-142,613
2019	$20,782,959	$20,564,896	$62,221,186	$218,063
2018	$23,289,767	$23,109,832	$60,088,622	$179,935