RITA BLANCA ELECTRIC COOPERATIVE INC (EIN 750712525) - 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

1945

Legal Domicile

Principal Officer

GRACE SUBEALDEA

Phone

8062494506

Tax Period

2023-01-01 to 2023-12-31

RITA BLANCA ELECTRIC COOPERATIVE INC, founded in 1945, is a mid-sized nonprofit that reported $79.6M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year.

Mission

TO PROVIDE ELECTRIC POWER TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

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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 $79,033,062

Investment Income $595,608

Other Revenue $9,181

TOTAL REVENUE $79,637,851

Expense Breakdown

Grants Paid $24,730

Salaries & Benefits $3,703,872

Fundraising Expenses $0

Other Expenses $56,291,720

TOTAL EXPENSES $79,640,420

Year-over-Year Comparison

	2023	2022	Change
Revenue	$79,637,851	$90,529,191	-0.1%
Expenses	$79,640,420	$90,539,100	-0.1%
Net Income	$-2,569	$-9,909	-0.7%

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

$977,238

Total Directors

$227,554

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL D FINCH	CHAIRMAN	5.00	Officer Director	$28,615	$0	$28,615
BRAD GREEN	DIRECTOR	1.80	Director	$28,465	$0	$28,465
BRADLEY MCBRYDE	VICE CHAIRMAN	4.00	Officer Director	$28,540	$0	$28,540
DAVID HIGGINS	DIRECTOR (JAN-MARCH)	2.30	Director	$7,760	$0	$7,760
DARREN STALLWITZ	DIRECTOR	3.00	Director	$19,250	$0	$19,250
SHAD MCDANIEL	DIRECTOR	3.30	Director	$20,507	$0	$20,507
BRENT SPURLOCK	SECRETARY/TREASURER	3.00	Officer Director	$28,615	$0	$28,615
CHRIS SHELDON	DIRECTOR	2.00	Director	$20,946	$0	$20,946
WADE LENZ	DIRECTOR	10.00	Director	$28,615	$0	$28,615
DAWSON HIGGINS	DIRECTOR (MARCH-DEC)	5.00	Director	$16,241	$0	$16,241
BRENT WHEELER	CEO/GENERAL MANAGER (JAN-DEC)	45.00	Officer	$272,152	$103,616	$375,768
TRACY HOWELL	OUTSIDE OPERATIONS MANAGER	45.00	Officer	$189,645	$57,336	$246,981
GRACE SUBEALDEA	CEO/GENERAL MANAGER	45.00	Officer	$192,168	$76,551	$268,719
REYNOLD MARTINEZ	SUPERVISOR	40.00	Highest	$128,327	$65,204	$193,531
LARRY ARAGON	LINEMAN	40.00	Highest	$142,488	$64,407	$206,895
JOHN POPE	SUPERVISOR	40.00	Highest	$128,150	$49,179	$177,329
TAMMY RINNE	INSIDE OPERATIONS MANAGER	40.00	Highest	$112,947	$61,831	$174,778
SHAUN SCOFIELD	LINEMAN	40.00	Highest	$126,859	$58,579	$185,438

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	$79,637,851	$79,640,420	$150,809,043	$-2,569
2022	$90,529,191	$90,539,100	$130,821,379	$-9,909
2021	$68,870,503	$68,879,995	$119,494,326	$-9,492
2020	$52,023,846	$52,016,602	$112,416,533	$7,244
2019	$46,706,937	$46,997,642	$104,440,183	$-290,705
2018	$46,390,543	$46,418,302	$92,721,743	$-27,759

RITA BLANCA ELECTRIC COOPERATIVE INC