ARIZONA ELECTRIC POWER COOPERATIVE INC (EIN 860176697) - 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

1961

Legal Domicile

Principal Officer

PETER F SCOTT

Phone

5205863631

Tax Period

2023-01-01 to 2023-12-31

ARIZONA ELECTRIC POWER COOPERATIVE INC, founded in 1961, is a major nonprofit in the Mutual Benefit sector that reported $229.0M in total revenue in fiscal year 2023. Revenue fell 21% from the prior year — a significant decline worth monitoring.

Mission

SALE OF ELECTRIC POWER

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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 $192,498,455

Investment Income $2,948,008

Other Revenue $33,596,464

TOTAL REVENUE $229,042,927

Expense Breakdown

Grants Paid $0

Salaries & Benefits $36,983,752

Fundraising Expenses $0

Other Expenses $188,860,648

TOTAL EXPENSES $225,844,400

Year-over-Year Comparison

	2023	2022	Change
Revenue	$229,042,927	$291,757,317	-0.2%
Expenses	$225,844,400	$288,610,185	-0.2%
Net Income	$3,198,527	$3,147,132	+0.0%

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

236

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

$1,252,542

Total Directors

$295,250

Key Employees

$1,803,135

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHRYN J THATCHER	DIRECTOR (PRESIDENT)	4.00	Director	$24,000	$0	$24,000
REUBEN B MCBRIDE	DIRECTOR(VICE PRESIDENT)	10.00	Director	$33,000	$0	$33,000
JUDY MCKINLEY	DIRECTOR(TREASURER)	15.00	Director	$22,000	$0	$22,000
J TYLER CARLSON	DIRECTOR(SECRETARY)	8.00	Director	$34,000	$0	$34,000
GENE R LARSON	DIRECTOR	2.00	Director	$27,250	$0	$27,250
HARROLD BURDICK	DIRECTOR	6.00	Director	$34,000	$0	$34,000
KEVIN SHORT	DIRECTOR	10.00	Director	$0	$0	$0
JOHN NELSSEN	DIRECTOR	8.00	Director	$35,000	$0	$35,000
LAWERENCE HINCHLIFEE	DIRECTOR	6.00	Director	$24,000	$0	$24,000
BRIAN HEITHOFF	DIRECTOR	5.00	Director	$0	$0	$0
DANIEL BARRERA	DIRECTOR	10.00	Director	$24,000	$0	$24,000
JOHNNIE FRIE	DIRECTOR	11.00	Director	$25,000	$0	$25,000
DAVE LUTTRELL	DIRECTOR	8.00	Director	$13,000	$0	$13,000
PATRICK LEDGER	CURRENT CHIEF EXECUTIVE OF	45.00	Officer	$764,699	$99,959	$864,658
PETER SCOTT	CHIEF FINANCIAL OFFICER	40.00	Officer	$318,307	$69,577	$387,884
BENJAMIN ENGELBY	GENERAL COUNSEL	40.00	Key Emp	$284,309	$69,132	$353,441
MICHELLE FREEARK	KEY EMPLOYEE	52.00	Key Emp	$262,758	$79,714	$342,472
CHRISTOPHER JIMENEZ	KEY EMPLOYEE	50.00	Key Emp	$273,301	$60,737	$334,038
MIKE NELSON	KEY EMPLOYEE	68.00	Key Emp	$299,065	$83,525	$382,590
JOHN SANDERS	KEY EMPLOYEE	50.00	Key Emp	$304,486	$86,108	$390,594
NATHEN HATCH	HIGHEST COMPENSATED EMPLOYEE	50.00	Highest	$218,435	$72,356	$290,791
BORIS TUMARIN	HIGHEST COMPENSATED EMPLOYEE	45.00	Highest	$215,175	$54,905	$270,080
RYAN MANZO	HIGHEST COMPENSATED EMPLOYEE	40.00	Highest	$198,745	$58,513	$257,258
JASIN GLASNER	HIGHEST COMPENSATED EMPLOY	30.00	Highest	$188,495	$46,258	$234,753
CHARLES ALVES	HIGHEST COMPENSATED EMPLOY	40.00	Highest	$175,811	$63,020	$238,831

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	$229,042,927	$225,844,400	$607,120,599	$3,198,527
2022	$291,757,317	$288,610,185	$540,784,153	$3,147,132
2021	$235,277,760	$225,627,791	$458,434,453	$9,649,969
2020	$179,657,524	$173,512,242	$429,934,212	$6,145,282
2019	$183,490,274	$177,035,150	$432,480,797	$6,455,124
2018	$206,351,771	$197,339,152	$444,083,025	$9,012,619

ARIZONA ELECTRIC POWER COOPERATIVE INC