Homer Electric Association Inc (EIN 920014079) - 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

1946

Legal Domicile

Principal Officer

Bradley P Janorschke

Phone

9072358551

Tax Period

2023-01-01 to 2023-12-31

Homer Electric Association Inc, founded in 1946, is a major nonprofit that reported $109.0M in total revenue in fiscal year 2023.

Mission

PROVIDE ELECTRICAL SERVICES TO OUR MEMBERS.

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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 $9,500

Program Service Revenue $108,419,129

Investment Income $296,361

Other Revenue $290,260

TOTAL REVENUE $109,015,250

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $981,653

Fundraising Expenses $0

Other Expenses $107,861,844

TOTAL EXPENSES $108,853,497

Year-over-Year Comparison

	2023	2022	Change
Revenue	$109,015,250	$105,957,011	+0.0%
Expenses	$108,853,497	$103,729,655	+0.0%
Net Income	$161,753	$2,227,356	-0.9%

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

159

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

$958,294

Total Directors

$51,408

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bradley P Janorschke	General Manager	40.0	Officer	$380,869	$197,017	$577,886
John Jungling	Director of Cyber Security	40.0	Highest	$254,027	$156,235	$410,262
Sheri Gower	Director of Administration	40.0	Highest	$248,100	$156,211	$404,311
Larry Jorgensen	Dir of Power, Fuels & Dispatch	40.0	Highest	$247,962	$150,044	$398,006
Sarah Lambe	Director of Finance	40.0	Officer	$212,898	$139,460	$352,358
Steve Cannon	Director of Operations	40.0	Highest	$224,634	$115,972	$340,606
Keriann Baker	Director of Member Services	40.0	Highest	$221,979	$114,784	$336,763
David Thomas	Manager of Strategic Affairs	40.0		$213,400	$114,105	$327,505
Dan Furlong	President	10.0	Officer Director	$10,850	$0	$10,850
Erin McKittrick	Director	1.0	Director	$8,400	$0	$8,400
Wayne H Ogle	Deputy Secretary	2.0	Officer Director	$6,300	$0	$6,300
Eugene Levine	Director	1.0	Director	$5,450	$0	$5,450
Robert Wall	Vice President	2.0	Officer Director	$4,850	$0	$4,850
Charles Mike Chenault	Director	1.0	Director	$4,500	$0	$4,500
James Duffield II	Secretary/Treasurer	2.0	Officer Director	$3,950	$0	$3,950
Louis Flora	Director	1.0	Director	$2,558	$0	$2,558
Dan Green	Director	1.0	Director	$2,450	$0	$2,450
Charles Rudstrom	Deputy Secretary Until May	1.0	Officer Director	$2,100	$0	$2,100

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	$109,015,250	$108,853,497	$268,137,644	$161,753
2022	$105,957,011	$103,729,655	$267,608,771	$2,227,356
2021	$113,967,382	$104,713,900	$266,114,703	$9,253,482
2020	$115,948,240	$100,811,706	$263,518,580	$15,136,534
2019	$97,565,706	$92,085,501	$250,933,305	$5,480,205
2018	$98,969,959	$95,319,527	$250,937,156	$3,650,432

Homer Electric Association Inc