CORDOVA ELECTRIC COOPERATIVE INC

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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

1978

Legal Domicile

Principal Officer

CLAY KOPLIN

Phone

9074245555

Tax Period

2024-01-01 to 2024-12-31

CORDOVA ELECTRIC COOPERATIVE INC, founded in 1978, is a community nonprofit that reported $7.8M in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Net assets of $19.3M represent 29 months of operating reserves.

Mission

TO SERVE RESIDENTIAL, COMMERCIAL, AND GOVERNMENTAL CONSUMERS WITH ELECTRIC UTILITY IN THE AREA OF CORDOVA, ALASKA.

Program Service Accomplishments

Program 1

REVENUES FROM THE SALE OF ELECTRIC ENERGY COVERS THE COST OF PRODUCING ELECTRICITY AND MANAGING THE COOPERATIVE IN ORDER TO PROVIDE ELECTRIC UTILITY SERVICE TO THE RESIDENTS AND BUSINESSES IN...

REVENUES FROM THE SALE OF ELECTRIC ENERGY COVERS THE COST OF PRODUCING ELECTRICITY AND MANAGING THE COOPERATIVE IN ORDER TO PROVIDE ELECTRIC UTILITY SERVICE TO THE RESIDENTS AND BUSINESSES IN CORDOVA, ALASKA.

Program 2

PATRONAGE REVENUES ARE USED TO PROVIDE FOR THE PAYMENT OF THE COSTS ASSOCIATED WITH FINANCING OPERATIONS.

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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 $7,782,298

Investment Income $56,324

Other Revenue $4,363

TOTAL REVENUE $7,842,985

Expense Breakdown

Grants Paid $11,125

Salaries & Benefits $917,354

Fundraising Expenses $0

Other Expenses $6,707,636

TOTAL EXPENSES $7,842,985

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,842,985	$8,749,284	-0.1%
Expenses	$7,842,985	$8,749,284	-0.1%
Net Income	$0	$0	N/A

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

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

$622,519

Total Directors

$90

Key Employees

$294,775

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOE COOK	CHAIR	4.00	Officer Director	$0	$10	$10
STEVEN PHILLIPS	VICE CHAIR	1.00	Officer Director	$0	$10	$10
STEVE RANNEY	SECRETARY/TREASURER	1.00	Officer Director	$0	$10	$10
SCOTT PEGAU	DIRECTOR THRU 03/2024	1.00	Director	$0	$10	$10
ROB CAMPBELL	DIRECTOR	1.00	Director	$0	$10	$10
ANDREW SMALLWOOD	DIRECTOR	1.00	Director	$0	$10	$10
JEREMY BOTZ	DIRECTOR THRU 03/2024	1.00	Director	$0	$10	$10
NATASHA CASCIANO	DIRECTOR SINCE 03/2024	1.00	Director	$0	$10	$10
LYNETTE LOHSE WRIGHT	DIRECTOR SINCE 03/2024	1.00	Director	$0	$10	$10
CLAY KOPLIN	CEO	46.00	Officer	$234,912	$158,742	$393,654
EMMA MERRITT	CFO	41.00	Officer	$129,463	$99,372	$228,835
RUSS GOSS	MGR - GENERATION	47.00	Key Emp	$165,708	$129,067	$294,775
TREVER KUDRNA	TECHNOLOGY MANAGER	42.00	Highest	$202,507	$160,306	$362,813
JEFFREY FIELD	LINEMAN FOREMAN	42.00	Highest	$182,154	$50,250	$232,404
BRIAN WAGNER	GENERATION FOREMAN	42.00	Highest	$114,932	$49,604	$164,536
BEN SIMPLER	LINEMAN	42.00	Highest	$155,003	$50,468	$205,471
GARRETT COLLINS	GENERATION OPERATOR	42.00	Highest	$113,693	$49,693	$163,386

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	$7,842,985	$7,842,985	$37,535,123	No data
2023	$8,749,284	$8,749,284	$38,667,585	No data
2022	$8,505,578	$8,505,578	$37,022,330	No data
2021	$7,329,409	$7,329,409	$35,778,441	No data
2020	$7,182,479	$7,182,479	$33,586,881	No data
2019	$7,134,963	$7,134,963	$33,300,562	No data
2018	$7,220,077	$7,220,077	$33,339,247	No data