LEA COUNTY ELECTRIC COOPERATIVE 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

1949

Legal Domicile

Principal Officer

BOBBY FERRIS

Phone

5753963631

Tax Period

2023-01-01 to 2023-12-31

LEA COUNTY ELECTRIC COOPERATIVE INC, founded in 1949, is a major nonprofit that reported $110.6M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year.

Mission

LEA COUNTY ELECTRIC IS A COMMUNITY FOCUSED COOPERATIVE THAT STRIVES TO BE INNOVATIVE AND ENVIRONMENTALLY FRIENDLY.

Program Service Accomplishments

Program 1

SALE OF ELECTRIC POWER TO OUR MEMBERS AT COST ON COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 16,400 CONNECTED MEMBERS AT YEAR END.

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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 $108,335,221

Investment Income $2,026,567

Other Revenue $202,230

TOTAL REVENUE $110,564,018

Expense Breakdown

Grants Paid $36,580

Salaries & Benefits $7,323,273

Fundraising Expenses $0

Other Expenses $94,675,393

TOTAL EXPENSES $111,537,451

Year-over-Year Comparison

	2023	2022	Change
Revenue	$110,564,018	$119,152,075	-0.1%
Expenses	$111,537,451	$119,152,075	-0.1%
Net Income	$-973,433	$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

$615,662

Total Directors

$241,668

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN GRAHAM	PRESIDENT	11.20	Officer Director	$29,445	$0	$29,445
CHARLES GARNER JR	TRUSTEE	7.00	Director	$25,625	$0	$25,625
ROBERT CAUDLE	VICE PRESIDENT	2.80	Officer Director	$25,423	$0	$25,423
CHARLES KINSOLVING	TRUSTEE	4.70	Director	$30,646	$0	$30,646
KENNY WALLACE	TRUSTEE	3.40	Director	$22,580	$0	$22,580
JASON SWANN	TRUSTEE	2.90	Director	$24,075	$0	$24,075
DAN HARDIN	SECRETARY/TREASURER	1.50	Officer Director	$22,724	$0	$22,724
TRAVIS GLENN	TRUSTEE	2.80	Director	$22,988	$0	$22,988
RANDALL MCCORMICK	TRUSTEE	7.10	Director	$38,162	$0	$38,162
BOBBY FERRIS	GENERAL MANAGER/EXECUTIVE	60.00	Officer	$399,133	$138,937	$538,070
BOBBY KIMBRO	SYSTEM OPERATING MANAGER	55.00	Highest	$222,230	$82,050	$304,280
DOUGLAS GRUENEWALD	FOREMAN	55.00	Highest	$151,681	$73,695	$225,376
ALFREDO MELENDEZ	LINE SUPERINTENDENT	55.00	Highest	$147,374	$84,067	$231,441
ARTHUR PANDO	FOREMAN	55.00	Highest	$145,742	$56,674	$202,416
KYLE COLEMAN	IT MANAGER	55.00	Highest	$139,652	$80,567	$220,219

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	$110,564,018	$111,537,451	$261,032,072	$-973,433
2022	$119,152,075	$119,152,075	$256,477,710	No data
2021	$95,597,033	$95,597,033	$232,536,118	No data
2020	$91,971,046	$91,971,046	$222,751,682	No data
2019	$99,141,098	$99,141,098	$217,662,086	No data
2018	$103,271,280	$103,271,280	$210,710,019	No data