White River Electric Association I… - Form 990 Financial Data

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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

1945

Legal Domicile

Principal Officer

Alan J Michalewicz

Tax Period

2023-01-01 to 2023-12-31

White River Electric Association Inc, founded in 1945, is a mid-sized nonprofit that reported $51.2M in total revenue in fiscal year 2023.

Mission

Strives to Provide its Members/Consumers with safe, reliable and reasonable electric energy and other services at the most reasonable costs possible while remaining committed to customer and community service

Program Service Accomplishments

Program 1

White River Electric Association, Inc. is a rural electric distribution Cooperative serving parts of Rio Blanco, Moffat, and Garfield 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 $19,480

Program Service Revenue $50,581,851

Investment Income $239,431

Other Revenue $336,024

TOTAL REVENUE $51,176,786

Expense Breakdown

Grants Paid $20,000

Salaries & Benefits $2,882,963

Fundraising Expenses $0

Other Expenses $45,312,236

TOTAL EXPENSES $50,157,306

Year-over-Year Comparison

	2023	2022	Change
Revenue	$51,176,786	$48,823,595	+0.0%
Expenses	$50,157,306	$48,823,595	+0.0%
Net Income	$1,019,480	N/A	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

$723,995

Total Directors

$149,200

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Alan J Michalewicz	CEO	40.00	Officer	$338,077	$95,832	$433,909
Dale K Dunbar	CFO	40.00	Officer	$217,895	$72,191	$290,086
Brett A Berthelson	Manager of Operations	40.00	Highest	$173,073	$51,762	$224,835
Christopher Reidinger	Manager of Engineering	40.00	Highest	$169,710	$52,117	$221,827
Todd C Gerloff	Project CoordField Rep	40.00	Highest	$140,364	$51,180	$191,544
Jason F Kracht	Superintendent	40.00	Highest	$135,929	$49,210	$185,139
James H Sheridan	Controller	40.00	Highest	$154,310	$27,229	$181,539
Mark A Rogers	Director	5.33	Director	$27,248	$0	$27,248
Shane P Phelan	Director	5.29	Director	$23,198	$0	$23,198
Hal Pearce	Director	5.63	Director	$21,398	$0	$21,398
Kelly G Sheridan	Director	7.46	Director	$20,648	$0	$20,648
Brett Dearman	Director	2.33	Director	$20,648	$0	$20,648
Bryce Ducey	Director	2.60	Director	$18,548	$0	$18,548
Ronald K Hilkey	Director	2.27	Director	$17,512	$0	$17,512

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	$51,176,786	$50,157,306	$94,811,531	$1,019,480
2022	$48,823,595	$48,823,595	$92,836,265	No data
2021	$46,934,364	$46,934,364	$92,669,800	No data
2020	$57,760,849	$57,760,849	$92,615,042	No data
2019	$63,647,008	$63,647,008	$92,228,923	No data
2018	$70,710,189	$70,554,333	$91,928,067	$155,856

White River Electric Association Inc