KOTZEBUE ELECTRIC ASSOCIATION INC (EIN 920021979) - 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

1950

Legal Domicile

Principal Officer

TOM ATKINSON

Phone

9074423491

Tax Period

2024-01-01 to 2024-12-31

KOTZEBUE ELECTRIC ASSOCIATION INC, founded in 1950, is a community nonprofit that reported $9.6M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

PROVIDE ENERGY RESOURCES TO 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $9,362,754

Investment Income $0

Other Revenue $210,548

TOTAL REVENUE $9,573,302

Expense Breakdown

Grants Paid $0

Salaries & Benefits $727,832

Fundraising Expenses $0

Other Expenses $9,165,250

TOTAL EXPENSES $9,893,082

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,573,302	$8,853,803	+0.1%
Expenses	$9,893,082	$9,207,916	+0.1%
Net Income	$-319,780	$-354,113	-0.1%

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

$216,729

Total Directors

$62,600

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PIERRE ALAN LONEWOLF	SECRETARY	1.00	Officer Director	$11,500	$0	$11,500
HAROLD D LAMBERT	PRESIDENT	1.00	Officer Director	$8,250	$0	$8,250
DOMINIC D IVANOFF	VICE PRESIDENT	1.00	Officer Director	$8,475	$0	$8,475
HAROLD L SHORT	BOARD MEMBER	1.00	Director	$5,275	$0	$5,275
CHARLES BRETT CONNOR	BOARD MEMBER	1.00	Director	$8,600	$0	$8,600
REID MAGDANZ	TREASURER	1.00	Officer Director	$6,275	$0	$6,275
WAYNE A HOGUE II	BOARD MEMBER	1.00	Director	$2,200	$0	$2,200
CHAD NORDLUM	BOARD MEMBER	1.00	Director	$4,000	$0	$4,000
LORI JORGENSON	BOARD MEMBER	1.00	Director	$0	$0	$0
PAUL HANSEN	BOARD MEMBER	1.00	Director	$0	$0	$0
CRAIG MCCONNELL	BOARD MEMBER	1.00	Director	$8,025	$0	$8,025
THOMAS ATKINSON	CEO	44.00	Officer	$164,233	$17,996	$182,229
MATTHEW I BERGAN	ENGINEER	44.00	Highest	$171,253	$87,594	$258,847
JOHNNIE R JONES	PLANT FOREMAN	44.00	Highest	$188,693	$38,409	$227,102
GARRETH W HOWARTH	LINE FOREMAN	44.00	Highest	$168,087	$37,988	$206,075
GLENN CONWELL	JOURNEYMAN LINEMAN	44.00	Highest	$111,561	$32,528	$144,089

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	$9,573,302	$9,893,082	$17,418,563	$-319,780
2023	$8,853,803	$9,207,916	$17,710,469	$-354,113
2022	$7,774,749	$7,640,818	$18,352,022	$133,931
2021	$7,540,194	$7,106,269	$16,720,796	$433,925
2020	$7,088,025	$7,525,507	$17,955,004	$-437,482
2019	$7,574,537	$7,407,136	$19,183,303	$167,401
2018	$7,351,960	$6,931,150	$19,383,331	$420,810

KOTZEBUE ELECTRIC ASSOCIATION INC