WASHINGTON RURAL ELECTRIC COOPERATIVE ASSOCIATION (EIN 911236389) - 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

1942

Legal Domicile

Principal Officer

Linda McDermott

Phone

5098629032

Tax Period

2024-01-01 to 2024-12-31

WASHINGTON RURAL ELECTRIC COOPERATIVE ASSOCIATION, founded in 1942, is a small nonprofit that reported $508K in total revenue in fiscal year 2024. Revenue decreased 13% compared to the prior year. Expenses of $583K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROACTIVELY LOBBY FOR WASHINGTON STATE LEGISLATION THAT SERVES THE INTERESTS OF MEMBERS WHILE SIMULTANEOUSLY DEFENDING AGAINST LEGISLATION AND AGENCY ACTION THAT NEGATIVELY IMPACTS THE RURAL ELECTRIC INDUSTRY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $36,705

Program Service Revenue $451,824

Investment Income $18,411

Other Revenue $1,451

TOTAL REVENUE $508,391

Expense Breakdown

Grants Paid $0

Salaries & Benefits $340,864

Fundraising Expenses $0

Other Expenses $241,878

TOTAL EXPENSES $582,742

Year-over-Year Comparison

	2024	2023	Change
Revenue	$508,391	$583,891	-0.1%
Expenses	$582,742	$533,533	+0.1%
Net Income	$-74,351	$50,358	-2.5%

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

$323,089

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Paul Griffin	Executive Dir.	40.00	Officer	$234,074	$89,015	$323,089
Christina Wyatt	Director	1.00	Director	$0	$0	$0
Scott Peters	Director	1.00	Director	$0	$0	$0
Greg Mendonca	Treasurer	1.00	Officer Director	$0	$0	$0
ANDY BARTH	Director	1.00	Director	$0	$0	$0
CHELSEA MARTIN	Vice President	1.00	Officer Director	$0	$0	$0
Jerry Whitfield	Director	1.00	Director	$0	$0	$0
MIKE FREEPONS	Director	1.00	Director	$0	$0	$0
DANA HANCOCK	Director	1.00	Director	$0	$0	$0
Linda McDermott	President	1.00	Officer Director	$0	$0	$0
STEVE WALTER	Director	1.00	Director	$0	$0	$0
KEVIN BLACK	Secretary	1.00	Officer Director	$0	$0	$0

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	$508,391	$582,742	$513,110	$-74,351
2023	$583,891	$533,533	$519,135	$50,358
2022	$497,064	$524,185	$519,397	$-27,121
2021	$430,604	$467,060	$522,420	$-36,456
2020	$383,850	$439,915	$495,300	$-56,065
2019	$378,504	$450,813	$440,472	$-72,309
2018	$396,036	$373,801	$474,792	$22,235

WASHINGTON RURAL ELECTRIC COOPERATIVE ASSOCIATION