MORGAN COUNTY RURAL ELECTRIC ASSOCIATION (EIN 840271515) - 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

1937

Legal Domicile

Phone

9708675688

Tax Period

2023-01-01 to 2023-12-31

MORGAN COUNTY RURAL ELECTRIC ASSOCIATION, founded in 1937, is a mid-sized nonprofit that reported $45.4M in total revenue in fiscal year 2023.

Mission

Morgan County Rural Electric Association is a cooperative that provides distribution and sales of electric energy on a retail basis to the rural areas of six counties in Colorado.

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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 $44,633,664

Investment Income $704,113

Other Revenue $68,670

TOTAL REVENUE $45,406,447

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,631,386

Fundraising Expenses $0

Program Expenses $45,406,447

Other Expenses $35,144,443

TOTAL EXPENSES $45,406,447

Year-over-Year Comparison

	2023	2022	Change
Revenue	$45,406,447	$44,792,828	+0.0%
Expenses	$45,406,447	$44,792,828	+0.0%
Net Income	$0	$0	N/A

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

$645,792

Total Directors

$261,776

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David E Arndt	Director	6.00	Director	$34,651	$0	$34,651
Randolph D Graff	Director	3.00	Director	$25,424	$0	$25,424
Larry Hoozee	Director	4.00	Director	$31,251	$0	$31,251
Terry Tormohlen	Director	5.00	Officer Director	$34,033	$0	$34,033
Terry Linker	Director	5.00	Officer Director	$18,232	$0	$18,232
Timothy A Peggram	Director	5.00	Director	$34,651	$0	$34,651
David Frick	General Manager	45.00	Officer	$226,803	$93,890	$320,693
Steve Sundet	Manager of Engineering	45.00	Highest	$154,471	$69,522	$223,993
Robb Shaver	Manager of Office Services	45.00	Officer	$143,485	$67,047	$210,532
Rodney Rhoades	Lineman	40.00	Highest	$142,640	$58,079	$200,719
Alan Mason	Manager of Operations	45.00	Highest	$133,366	$60,862	$194,228
Robert Baranowski	Manager of Member Services	45.00	Highest	$114,290	$57,896	$172,186
Cary Wickstrom	Director	5.00	Officer Director	$31,151	$0	$31,151
J Brian Pabst	Director	5.00	Officer Director	$31,151	$0	$31,151
Jim Bostron	Director	2.00	Director	$18,632	$0	$18,632
Kyle Eiring	Director	2.00	Director	$2,600	$0	$2,600
Brad Boppre	Lineman	40.00	Highest	$113,928	$39,900	$153,828

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$45,406,447	$45,406,447	$110,805,368	No data
2022	$44,792,828	$44,792,828	$110,605,529	No data
2021	$45,102,816	$45,102,816	$104,279,755	No data
2020	$44,952,841	$44,952,841	$105,337,294	No data
2019	$45,473,667	$45,473,667	$94,981,913	No data

MORGAN COUNTY RURAL ELECTRIC ASSOCIATION