Holy Cross Electric Association Inc (EIN 840229176) - 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

Bryan Hannegan

Phone

9709455491

Tax Period

2024-01-01 to 2024-12-31

Holy Cross Electric Association Inc, founded in 1939, is a major nonprofit that reported $159.4M in total revenue in fiscal year 2024.

Mission

Holy Cross Energy provides safe, reliable, affordable, and sustainable energy and services that improve the quality of life for our members and their communities.

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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 $0

Program Service Revenue $158,955,282

Investment Income $730,751

Other Revenue $-317,650

TOTAL REVENUE $159,368,383

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,698,085

Fundraising Expenses $0

Other Expenses $143,223,150

TOTAL EXPENSES $158,090,660

Year-over-Year Comparison

	2024	2023	Change
Revenue	$159,368,383	$158,826,315	+0.0%
Expenses	$158,090,660	$156,584,524	+0.0%
Net Income	$1,277,723	$2,241,791	-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

180

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

$1,168,639

Total Directors

$195,250

Key Employees

$1,747,863

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bryan Hannegan	President and CEO	45.00	Officer	$625,046	$151,030	$776,076
David Bleakley	VP Engineering	45.00	Key Emp	$316,267	$181,604	$497,871
David C ONeil	VP Operations	45.00	Key Emp	$297,070	$156,251	$453,321
Jenna Weatherred	VP Member & Community Relations	45.00	Key Emp	$282,051	$136,519	$418,570
Samuel Whelan	VP Finance	45.00	Officer	$270,989	$121,574	$392,563
Trina Zagar-Brown	VP Business Services	45.00	Key Emp	$257,683	$120,418	$378,101
John Rowley	Director Human Resources	45.00	Highest	$226,502	$115,191	$341,693
Joshua Snoddy	Manager Operations Technology	45.00	Highest	$217,872	$99,693	$317,565
James Ray	Manager Glenwood Line Operations	45.00	Highest	$213,413	$101,564	$314,977
Russ Winder	Manager Construction Engineering	45.00	Highest	$200,222	$106,211	$306,433
Michael Whiddon	Manager Accounting	45.00	Highest	$200,555	$105,110	$305,665
David Munk	Director	8.00	Director	$37,250	$0	$37,250
Adam Quinton	Director	8.00	Director	$35,000	$0	$35,000
Kristen Bertuglia	Director	5.00	Director	$26,750	$0	$26,750
Linn Brooks	Director	5.00	Director	$25,500	$0	$25,500
Robert Gardner	Director	5.00	Director	$25,500	$0	$25,500
Alex Degolia	Director	4.00	Director	$24,000	$0	$24,000
Keith Klesner	Director	3.00	Director	$21,250	$0	$21,250

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	$159,368,383	$158,090,660	$391,461,383	$1,277,723
2023	$158,826,315	$156,584,524	$375,282,436	$2,241,791
2022	$150,591,525	$148,897,305	$359,982,286	$1,694,220
2021	$143,962,151	$142,978,775	$346,769,060	$983,376
2020	$135,508,703	$133,956,999	$327,619,798	$1,551,704
2019	$137,463,232	$136,378,526	$324,743,711	$1,084,706
2018	$131,721,815	$130,678,786	$321,113,134	$1,043,029

Holy Cross Electric Association Inc