SOUTH PLAINS ELECTRIC TRUST

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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

1993

Legal Domicile

Principal Officer

GINGER WHETZEL

Phone

8067757826

Tax Period

2024-01-01 to 2024-12-31

SOUTH PLAINS ELECTRIC TRUST, founded in 1993, is a small nonprofit in the Human Services sector that reported $282K in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $246K left a modest 13% surplus.

Mission

TO PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS AND THEIR FAMILIES THROUGH SCHOLARSHIPS, SPECIFIC ASSISTANCE, AND CONTRIBUTIONS TO LOCAL CHARITIES.

Program Service Accomplishments

Program 1

Expenses: $27,130

SPECIFIC ASSISTANCE TO INDIVIDUALS WITHIN THE SERVICE AREA WITH ELECTRIC BILLS, CASUALTY LOSSES, AND MEDICAL NEEDS.

Program 2

Expenses: $131,198

SCHOLARSHIPS TO MEMBERS OR THE CHILDREN OF MEMBERS OF SOUTH PLAINS ELECTRIC COOPERATIVE TO ATTEND ACCREDITED COLLEGES OR UNIVERSITIES.

Program 3

Expenses: $87,400

GRANTS AND CONTRIBUTIONS TO AREA CHARITIES.

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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 $281,746

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $281,746

Expense Breakdown

Grants Paid $245,728

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $245,728

Other Expenses $0

TOTAL EXPENSES $245,728

Year-over-Year Comparison

	2024	2023	Change
Revenue	$281,746	$239,449	+0.2%
Expenses	$245,728	$214,560	+0.1%
Net Income	$36,018	$24,889	+0.4%

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

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GINGER WHETZEL	PRESIDENT	1.00	Officer Director	$0	$0	$0
TRACEY GREGORY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LEEANN WILMETH	TREASURER	1.00	Officer Director	$0	$0	$0
AMANDA POTTER	SECRETARY	1.00	Officer Director	$0	$0	$0
LAURIE HINSON	TRUSTEE	1.00	Director	$0	$0	$0
ILENE HOBGOOD	TRUSTEE	1.00	Director	$0	$0	$0
SHELLEY BERRY	TRUSTEE	1.00	Director	$0	$0	$0
CINDY BUXKEMPER	TRUSTEE	1.00	Director	$0	$0	$0
RITA TUCKER	TRUSTEE	1.00	Director	$0	$0	$0
MARCELLA BILBERRY	TRUSTEE	1.00	Director	$0	$0	$0

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	$281,746	$245,728	$254,080	$36,018
2023	$239,449	$214,560	$232,062	$24,889
2022	$233,060	$267,697	$204,673	$-34,637