San Miguel Power Association Inc (EIN 840312816) - 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

1938

Legal Domicile

Principal Officer

Bradley Zaporski

Phone

9708647311

Tax Period

2024-01-01 to 2024-12-31

San Miguel Power Association Inc, founded in 1938, is a mid-sized nonprofit that reported $35.0M in total revenue in fiscal year 2024.

Mission

It is the Mission of the San Miguel Power Association to provide our members with safe, reliable, cost-effective, and environmentally responsible electrical service, while demonstrating both cooperative responsibility and support for the communities we serve

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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 $64,379

Program Service Revenue $34,400,569

Investment Income $463,820

Other Revenue $74,392

TOTAL REVENUE $35,003,160

Expense Breakdown

Grants Paid $31,000

Salaries & Benefits $1,674,152

Fundraising Expenses $0

Other Expenses $31,205,337

TOTAL EXPENSES $34,969,781

Year-over-Year Comparison

	2024	2023	Change
Revenue	$35,003,160	$33,163,684	+0.1%
Expenses	$34,969,781	$33,090,167	+0.1%
Net Income	$33,379	$73,517	-0.5%

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

$997,483

Total Directors

$118,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bradley Zaporski	CEO	50.00	Officer	$365,328	$90,618	$455,946
Lance Lehigh	CFO	50.00	Officer	$193,426	$50,742	$244,168
Jeremy Fox	COO	50.00	Officer	$189,368	$49,601	$238,969
Doug Tea	Manager	40.00	Highest	$168,148	$56,716	$224,864
Wiley Freeman	Manager	40.00	Highest	$163,822	$47,287	$211,109
Thomas Brew	Line Worker	40.00	Highest	$150,195	$30,101	$180,296
William Felicelli	President	20.00	Officer Director	$19,000	$0	$19,000
David Alexander	Vice President	15.00	Officer Director	$16,200	$0	$16,200
Terry Rhoades	Director	15.00	Director	$15,950	$0	$15,950
Tobin Brown	SecretaryTreasurer	15.00	Officer Director	$15,750	$0	$15,750
Kevin Cooney	Director	15.00	Director	$15,750	$0	$15,750
Val Szwarc	Director	15.00	Director	$12,650	$0	$12,650
Thomas Loczy	Director	15.00	Director	$11,500	$0	$11,500
Doylene Garvey	Director	15.00	Officer Director	$7,450	$0	$7,450
Deborah Cokes	Director	15.00	Director	$4,550	$0	$4,550

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	$35,003,160	$34,969,781	$104,541,182	$33,379
2023	$33,163,684	$33,090,167	$94,642,693	$73,517
2022	$31,411,255	$31,465,110	$93,640,382	$-53,855
2021	$33,342,574	$31,894,379	$92,922,592	$1,448,195
2020	$30,194,661	$31,343,492	$94,865,692	$-1,148,831

San Miguel Power Association Inc