SALMON RIVER 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

1948

Legal Domicile

Principal Officer

KEN DIZES

Tax Period

2023-01-01 to 2023-12-31

SALMON RIVER ELECTRIC COOPERATIVE INC, founded in 1948, is a community nonprofit that reported $8.0M in total revenue in fiscal year 2023. Expenses of $7.7M left a modest 5% surplus.

Mission

PROVIDE ELECTRIC DISTRIBUTION AND TRANSMISSION SERVICES TO ITS MEMBERS IN PARTS OF CUSTER, BLAINE, AND LEMHI COUNTIES IN IDAHO.

Program Service Accomplishments

Program 1

THE COOPERATIVE PURCHASES AND PROVIDES ELECTRIC ENERGY TO ITS MEMBERS.

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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 $7,593,796

Investment Income $387,502

Other Revenue $61,164

TOTAL REVENUE $8,042,462

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,265,836

Fundraising Expenses $0

Other Expenses $4,517,061

TOTAL EXPENSES $7,654,960

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,042,462	$7,462,144	+0.1%
Expenses	$7,654,960	$7,193,194	+0.1%
Net Income	$387,502	$268,950	+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

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

$570,127

Total Directors

$55,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEN DIZES	GENERAL MANAGER	42.00	Officer	$269,473	$106,494	$375,967
DENNIS SWINDELL	OPERATIONS MANAGER	40.00	Highest	$136,468	$68,863	$205,331
KIP ERICKSON	LINE FOREMAN	44.00	Highest	$124,727	$65,722	$190,449
JOSEPH RUNNELS	JOURNEYMAN LINEMAN	44.00	Highest	$118,459	$49,906	$168,365
STEVE SIDLO	DIRECTOR OF FINANCE	42.00	Officer	$120,908	$46,252	$167,160
HEATH STEWART	JOURNEYMAN LINEMAN	44.00	Highest	$115,849	$44,422	$160,271
GRANT POLIQUIN	JOURNEYMAN LINEMAN	44.00	Highest	$109,053	$48,005	$157,058
JEFF BITTON	VICE-PRESIDENT	12.00	Officer Director	$9,000	$0	$9,000
DOUG PARKINSON	SECRETARYTREASURER	12.00	Officer Director	$9,000	$0	$9,000
NORMAN WALLIS	PRESIDENT	12.00	Officer Director	$9,000	$0	$9,000
EARL SKEEN	DIRECTOR	8.00	Director	$7,200	$0	$7,200
ROBERT BOREN	DIRECTOR	8.00	Director	$7,200	$0	$7,200
MICHAEL MILLER	DIRECTOR	8.00	Director	$7,200	$0	$7,200
STEVE REMBELSKI	DIRECTOR	8.00	Director	$7,200	$0	$7,200

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	$8,042,462	$7,654,960	$22,933,445	$387,502
2022	$7,462,144	$7,193,194	$21,503,931	$268,950
2021	$7,043,358	$7,090,414	$19,095,369	$-47,056
2020	$7,378,886	$7,144,992	$17,134,211	$233,894
2019	$7,206,093	$7,007,444	$16,921,944	$198,649
2018	$7,165,316	$6,927,967	$15,757,892	$237,349

SALMON RIVER ELECTRIC COOPERATIVE INC