GRAHAM COUNTY ELECTRIC COOPERATIVE… - 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

PHILLIP COOK

Phone

9784852451

Tax Period

2023-01-01 to 2023-12-31

GRAHAM COUNTY ELECTRIC COOPERATIVE INC, founded in 1945, is a mid-sized nonprofit that reported $26.5M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum.

Mission

WE ARE COMMITTED TO PROVIDE SAFE, RELIABLE, AND EFFICIENT RESOURCES TO ENHANCE THE LIVES OF OUR MEMBERS AND THE COMMUNITIES WE SERVE.

Program Service Accomplishments

Program 1

ELECTRIC DIVISION:PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 8,410 ACTIVE SERVICES, 965 MILES OF ELECTRIC DISTRIBUTION...

ELECTRIC DIVISION:PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 8,410 ACTIVE SERVICES, 965 MILES OF ELECTRIC DISTRIBUTION LINES AND 85 MILES OF TRANSMISSION LINES AT YEAR END.

Program 2

WATER DIVISION:THE COOPERATIVE OWNS AND MAINTAINS WATER WELLS, STORAGE TANKS AND A WATER DISTRIBUTION SYSTEM TO SUPPLY ITS MEMBERS WITH POTABLE WATER. SUCH WATER DISTRIBUTION SERVICES ARE PROVIDED ON A PATRONAGE BASIS. PATRONAGE CAPITAL IS ALLOCABLE TO THE MEMBERS WHEN CUMULATIVE NET MARGINS EXCEED CUMULATIVE LOSSES. AT YEAR END, THERE WERE 1,911 WATER METERS SERVED BY 106 MILES OF MAIN LINES AND SERVICE LINES.

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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 $26,118,708

Investment Income $58,855

Other Revenue $291,022

TOTAL REVENUE $26,468,585

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,023,820

Fundraising Expenses $0

Other Expenses $23,574,333

TOTAL EXPENSES $27,598,153

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,468,585	$20,985,577	+0.3%
Expenses	$27,598,153	$21,464,835	+0.3%
Net Income	$-1,129,568	$-479,258	+1.4%

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

$460,968

Total Directors

$73,177

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
REUBEN MCBRIDE	PRESIDENT	10.00	Officer Director	$7,781	$0	$7,781
MARK CLARIDGE	VICE PRESIDENT	2.80	Officer Director	$8,754	$0	$8,754
JIM BRYCE	SECRETARY	2.50	Officer Director	$10,979	$0	$10,979
DENNIS JACOB	DIRECTOR	1.00	Director	$4,615	$0	$4,615
CHRISTOPHER CLARIDGE	DIRECTOR	2.00	Director	$10,786	$0	$10,786
TOMMY CLONTS	DIRECTOR	4.20	Director	$8,912	$0	$8,912
GENE ROBERT LARSON	DIRECTOR	3.80	Director	$6,954	$0	$6,954
STEPHEN HOOPER	DIRECTOR	2.70	Director	$8,615	$0	$8,615
GERALD SCHMIDT	DIRECTOR	1.50	Director	$5,781	$0	$5,781
PHILLIP COOK	CEO	48.00	Officer	$205,020	$35,618	$240,638
THAN ASHBY	CFO	46.00	Officer	$131,294	$61,522	$192,816
RUSTY SHERMAN	OPERATIONS MANAGER	45.00	Highest	$135,830	$55,435	$191,265
VICTOR TRUJILLO	FOREMAN	46.00	Highest	$129,520	$50,377	$179,897
FRANCISCO MACARIO	LINEMAN JOURNEYMAN	50.00	Highest	$126,737	$51,756	$178,493
MYLES RAY	FOREMAN	42.00	Highest	$123,695	$55,153	$178,848
JOSEPH BINGHAM	ELECTRIC SUPERINTENDENT	45.00	Highest	$115,726	$71,373	$187,099

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	$26,468,585	$27,598,153	$67,662,222	$-1,129,568
2022	$20,985,577	$21,464,835	$63,207,790	$-479,258
2021	$15,258,294	$15,078,754	$54,360,204	$179,540
2020	$16,730,523	$16,565,117	$52,333,515	$165,406

GRAHAM COUNTY ELECTRIC COOPERATIVE INC