TRICO ELECTRIC COOPERATIVE INC (EIN 860082366) - 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

1945

Legal Domicile

Principal Officer

BRIAN HEITHOFF

Phone

5207442944

Tax Period

2023-01-01 to 2023-12-31

TRICO ELECTRIC COOPERATIVE INC, founded in 1945, is a major nonprofit that reported $124.3M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE ELECTRIC ENERGY TO RURAL AREAS AT COST ON A COOPERATIVE BASIS.

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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 $123,158,306

Investment Income $635,600

Other Revenue $501,106

TOTAL REVENUE $124,295,012

Expense Breakdown

Grants Paid $140,500

Salaries & Benefits $12,680,201

Fundraising Expenses $0

Other Expenses $101,632,658

TOTAL EXPENSES $122,977,431

Year-over-Year Comparison

	2023	2022	Change
Revenue	$124,295,012	$106,490,129	+0.2%
Expenses	$122,977,431	$105,827,175	+0.2%
Net Income	$1,317,581	$662,954	+1.0%

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

152

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

$1,080,394

Total Directors

$109,980

Key Employees

$265,265

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID PROCTOR	DIRECTOR (NOV-DEC)	4.00	Director	$6,768	$0	$6,768
JERRY RUTHERFORD	ASST. SECRETARY/TREASURER	5.00	Officer Director	$15,933	$0	$15,933
JOE KING	TREASURER	4.00	Officer Director	$10,011	$0	$10,011
L NICK BUCKELEW	DIRECTOR (JAN-JUNE)	1.90	Director	$2,256	$0	$2,256
LARRY HINCHLIFFE	PRESIDENT	4.00	Officer Director	$14,100	$0	$14,100
MARSHA THOMPSON	VICE PRESIDENT	4.00	Officer Director	$16,638	$0	$16,638
ARNOLDO BURRUEL	SECRETARY (JAN-SEPT)	2.60	Officer Director	$5,640	$0	$5,640
DARREL BIRKHIMER	DIRECTOR	8.00	Director	$23,688	$0	$23,688
KEVIN MCCARTHY	SECRETARY	4.00	Officer Director	$14,946	$0	$14,946
ERIC HAWKINS	CHIEF OPERATING OFFICER/GC	50.00	Officer	$226,427	$47,039	$273,466
JAMES FREEMAN	CHIEF FINANCIAL OFFICER	45.00	Officer	$182,273	$75,294	$257,567
BRIAN HEITHOFF	CHIEF EXECUTIVE OFFICER/GM	54.00	Officer	$380,402	$91,691	$472,093
TOREY BELL	MANAGER OF ENGINEERING	53.00	Key Emp	$168,545	$96,720	$265,265
MATT FREDERICKSON	JOURNEYMAN LINEMAN	50.00	Highest	$147,412	$51,632	$199,044
BLAKE REIS	JOURNEYMAN LINEMAN	51.00	Highest	$158,164	$39,697	$197,861
LESLIE HUNT	JOURNEYMAN LINEMAN	47.00	Highest	$144,866	$37,827	$182,693
JEREMY KONSKI	JOURNEYMAN LINEMAN	50.00	Highest	$166,996	$40,606	$207,602
RICHARD JANNEY	JOURNEYMAN LINEMAN	47.00	Highest	$145,624	$13,907	$159,531

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	$124,295,012	$122,977,431	$308,378,003	$1,317,581
2022	$106,490,129	$105,827,175	$306,199,494	$662,954
2021	$107,861,208	$107,878,539	$268,045,549	$-17,331
2020	$104,042,706	$103,834,167	$258,712,198	$208,539
2019	$97,454,989	$97,542,963	$251,955,624	$-87,974
2018	$101,991,964	$102,004,073	$254,474,873	$-12,109

TRICO ELECTRIC COOPERATIVE INC