SOUTHEAST COLORADO POWER ASSOCIATION (EIN 840147605) - 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

1939

Legal Domicile

Principal Officer

KEVIN BRANDON

Phone

7193842551

Tax Period

2023-01-01 to 2023-12-31

SOUTHEAST COLORADO POWER ASSOCIATION, founded in 1939, is a mid-sized nonprofit that reported $36.9M in total revenue in fiscal year 2023.

Mission

PROVIDE ELECTRIC SERVICE TO MEMBERS ON A NOT-FOR-PROFIT 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 $36,015,176

Investment Income $283,786

Other Revenue $645,390

TOTAL REVENUE $36,944,352

Expense Breakdown

Grants Paid $56,181

Salaries & Benefits $1,197,533

Fundraising Expenses $0

Other Expenses $32,945,995

TOTAL EXPENSES $36,044,213

Year-over-Year Comparison

	2023	2022	Change
Revenue	$36,944,352	$38,737,318	0.0%
Expenses	$36,044,213	$39,155,195	-0.1%
Net Income	$900,139	$-417,877	-3.2%

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

$481,265

Total Directors

$43,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRUMAN WRIGHT	PRESIDENT	1.20	Officer Director	$6,750	$0	$6,750
CLINT ANDERSON	VICE PRESIDENT	0.90	Officer Director	$6,750	$0	$6,750
MERLIN RUSHTON	SECRETARY	1.90	Officer Director	$6,150	$0	$6,150
KEVIN KARNEY	DIRECTOR (UNTIL APRIL 2023)	0.30	Director	$2,000	$0	$2,000
RANDY PHILLIPS	DIRECTOR	1.10	Director	$6,300	$0	$6,300
BRAD BUCK	DIRECTOR	0.90	Director	$6,150	$0	$6,150
LAWRENCE BRASE	DIRECTOR	1.00	Director	$6,900	$0	$6,900
MICHELLE GARDNER	DIRECTOR (BEG SEPT 2023)	0.40	Director	$2,000	$0	$2,000
CRAIG MCBRAIN	CFO (UNTIL NOV 2023)	40.00	Officer	$131,481	$28,959	$160,440
KEVIN BRANDON	CHIEF EXECUTIVE OFFICER	40.00	Officer	$189,005	$112,170	$301,175
MARK HALL	CHIEF OPERATING OFFICER	40.00	Highest	$169,482	$63,036	$232,518
CLINT ARBUTHNOT	WORKING FOREMAN	40.00	Highest	$142,100	$44,298	$186,398
MIKE TRUMBLE	LINE SUPERINTENDENT	40.00	Highest	$146,750	$85,258	$232,008
GARRETT WERTZ	WORKING FOREMAN	40.00	Highest	$147,748	$42,203	$189,951
JOHN JACKSON	WORKING FOREMAN	40.00	Highest	$153,125	$18,323	$171,448

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	$36,944,352	$36,044,213	$114,069,584	$900,139
2022	$38,737,318	$39,155,195	$110,977,117	$-417,877
2021	$38,826,688	$35,950,669	$108,651,331	$2,876,019
2020	$35,663,810	$35,132,017	$107,112,444	$531,793
2019	$30,782,605	$31,841,428	$103,041,654	$-1,058,823
2018	$30,726,513	$31,176,109	$96,047,497	$-449,596

SOUTHEAST COLORADO POWER ASSOCIATION