VALLEY ELECTRIC ASSOCIATION INC (EIN 880089964) - 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

1965

Legal Domicile

Principal Officer

MARK STALLONS

Phone

7757275312

Tax Period

2023-01-01 to 2023-12-31

VALLEY ELECTRIC ASSOCIATION INC, founded in 1965, is a major nonprofit that reported $117.6M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $102.3M left a modest 13% surplus.

Mission

TO PROVIDE QUALITY AND RELIABLE ELECTRIC AND INTERNET SERVICE TO MEMBERS OF THE COOPERATIVE.

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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 $116,881,072

Investment Income $380,372

Other Revenue $348,969

TOTAL REVENUE $117,610,413

Expense Breakdown

Grants Paid $159,241

Salaries & Benefits $17,378,423

Fundraising Expenses $0

Other Expenses $84,734,237

TOTAL EXPENSES $102,271,901

Year-over-Year Comparison

	2023	2022	Change
Revenue	$117,610,413	$99,856,868	+0.2%
Expenses	$102,271,901	$95,729,830	+0.1%
Net Income	$15,338,512	$4,127,038	+2.7%

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

163

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

$1,329,672

Total Directors

$129,550

Key Employees

$1,702,596

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE CAIRD	PRESIDENT	12.90	Officer Director	$22,200	$0	$22,200
KATHLEEN KEYES	VICE-PRESIDENT	13.50	Officer Director	$19,400	$0	$19,400
TERRIE D'ANTONIO	DIRECTOR (JAN-JUNE)	15.30	Director	$8,500	$0	$8,500
PAUL HEALEY	TREASURER (JAN-FEB)	2.50	Officer Director	$2,500	$0	$2,500
FRANK JARVIS	SECRETARY	10.00	Officer Director	$18,000	$0	$18,000
BRUCE HOLDEN	DIRECTOR	5.10	Director	$19,000	$0	$19,000
MIKE COTTINGIM	TREASURER	9.80	Officer Director	$18,600	$0	$18,600
WILLIAM MCMAHAN	DIRECTOR (JULY-DEC)	3.90	Director	$8,300	$0	$8,300
MICHAEL KAUCKY	DIRECTOR (APR-DEC)	9.20	Director	$13,050	$0	$13,050
MARK STALLONS	CEO	50.00	Officer	$396,221	$126,731	$522,952
TERRI GEORGE	CFO (FEB-DEC)	58.00	Officer	$211,759	$59,960	$271,719
STEVE MORRISON	CFO (JAN)	40.00	Officer	$145,083	$7,914	$152,997
LOGAN GERNET	VP OPES, ENGINEERING & POWER SUPPLY	48.00	Officer	$248,160	$53,144	$301,304
GABRIEL DEGUZMAN	DIR TRANSMISSION SERV & LOAD MGMT	40.00	Key Emp	$217,715	$43,540	$261,255
JEDIDIAH FERGUSON	DIR TRANSMISSION OPERATIONS	60.00	Key Emp	$179,496	$60,991	$240,487
MATTHEW KING	VP MEMBER AND MANAGED SERVICES	55.00	Key Emp	$177,019	$51,625	$228,644
JACK VENEZIO	DIR NETWORK ENGINEERING & TELECOM	45.00	Key Emp	$171,434	$80,049	$251,483
AARON LYNN	MGR LINE OPERATIONS	50.00	Key Emp	$168,579	$162,398	$330,977
ROGER MAKI	MGR FIELD AND PROJECT ENGINEERING	50.00	Key Emp	$160,463	$44,909	$205,372
TONI POWELL	DIR ENGINEERING	40.00	Key Emp	$154,894	$29,484	$184,378
JUSTIN BOYER	AREA FOREMAN	49.00	Highest	$198,349	$92,974	$291,323
ERIK STUHAAN	AREA FOREMAN	49.00	Highest	$195,241	$57,491	$252,732
AARON FRITZ	JOURNEYMAN LINEMAN	51.00	Highest	$189,828	$53,569	$243,397
BENJAMIN VELOZ	JOURNEYMAN LINEMAN	50.00	Highest	$182,518	$66,884	$249,402
ERIK LEDFORD	AREA FOREMAN	45.00	Highest	$181,517	$48,278	$229,795
ANGELA EVANS	FORMER CEO	0.00		$336,724	$0	$336,724

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	$117,610,413	$102,271,901	$331,754,040	$15,338,512
2022	$99,856,868	$95,729,830	$326,082,663	$4,127,038
2021	$92,074,698	$105,291,692	$316,968,401	$-13,216,994
2020	$87,791,167	$90,305,837	$336,046,613	$-2,514,670
2019	$84,469,530	$89,328,449	$340,298,816	$-4,858,919
2018	$111,954,876	$126,137,918	$355,506,263	$-14,183,042

VALLEY ELECTRIC ASSOCIATION INC