United Power Inc

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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

Mark Gabriel

Phone

3036590551

Tax Period

2024-01-01 to 2024-12-31

United Power Inc, founded in 1938, is a major nonprofit that reported $416.1M in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum.

Mission

To provide reliable electric power and related services to our members at the most affordable cost.

Program Service Accomplishments

Program 1

Expenses: $415,732,415

The Cooperative provides electric services to approximately 113,890 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $414,750,365

Investment Income $863,910

Other Revenue $481,914

TOTAL REVENUE $416,096,189

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,891,900

Fundraising Expenses $0

Program Expenses $415,732,415

Other Expenses $377,026,511

TOTAL EXPENSES $415,732,415

Year-over-Year Comparison

	2024	2023	Change
Revenue	$416,096,189	$342,490,393	+0.2%
Expenses	$415,732,415	$342,016,918	+0.2%
Net Income	$363,774	$473,475	-0.2%

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

225

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

$4,043,947

Total Directors

$352,222

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Elizabeth Martin	Director	20.00	Director	$34,216	$0	$34,216
Tamra Waltemath	Assistant Secretary/Treasurer	13.00	Officer Director	$31,716	$0	$31,716
Brian McCormick	Vice Chairman	18.00	Officer Director	$31,716	$0	$31,716
James Vigesaa	Director	10.00	Director	$31,716	$0	$31,716
Keith Alquist	Treasurer	12.00	Officer Director	$31,716	$0	$31,716
Virginia Buczek	Director/CREA Director	22.00	Director	$35,491	$0	$35,491
Ursula Morgan	Chairman	22.00	Officer Director	$36,716	$0	$36,716
Stephen Whiteside	Secretary	11.00	Officer Director	$31,716	$0	$31,716
Brad Case	Director	14.00	Director	$31,716	$0	$31,716
Steven Douglas	Director	19.00	Director	$31,716	$0	$31,716
Paige Wagner-Maul	Director	8.00	Director	$23,787	$0	$23,787
Erin Hane	Chief Human Resources Officer	40.00	Officer	$222,781	$88,704	$311,485
Alice Beauchamp	SVP & Chief Information Of	40.00	Officer	$249,863	$94,511	$344,374
Troy Whitmore	VP & Public Affairs Office	40.00	Officer	$368,612	$51,378	$419,990
Dean Hubbuck	SVP & Chief Energy Resourc	40.00	Officer	$315,663	$107,519	$423,182
Laura Burkhart	SVP & Chief Financial Offi	40.00	Officer	$357,611	$119,414	$477,025
Mark Gabriel	President and Chief Execut	40.00	Officer	$727,450	$98,411	$825,861
Trista Fugate	Senior VP and Chief Market	40.00	Officer	$273,614	$70,602	$344,216
Robin Meidhof	SVP & Chief Legal Officer	40.00	Officer	$330,634	$62,986	$393,620
Janifer Kulmann	SVP & Chief Operating Officer	40.00	Officer	$303,487	$37,127	$340,614
Brent Sydow	VP of Operations	40.00	Highest	$216,734	$40,437	$257,171
Jason Moore	Troubleshooter	40.00	Highest	$204,431	$74,218	$278,649
Joshua Steinke	Working Foreman	40.00	Highest	$204,148	$72,755	$276,903
Gregory Howes	VP of Energy Resource Planning	40.00	Highest	$189,894	$90,757	$280,651
Mathieu Bartlett	VP of IT Infrastructure and Ops	40.00	Highest	$187,756	$85,302	$273,058

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	$416,096,189	$415,732,415	$1,445,743,995	$363,774
2023	$342,490,393	$342,016,918	$712,520,880	$473,475
2022	$320,285,113	$319,044,963	$649,423,331	$1,240,150
2021	$312,195,991	$311,609,347	$596,297,380	$586,644
2020	$308,257,944	$308,257,944	$549,850,769	No data
2019	$295,805,297	$295,805,297	$510,498,230	No data
2018	$264,462,163	$264,650,479	$453,329,046	$-188,316