CENTRAL ELECTRIC COOPERATIVE

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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

1940

Legal Domicile

Principal Officer

BRAD WILSON

Phone

5415482144

Tax Period

2024-01-01 to 2024-12-31

CENTRAL ELECTRIC COOPERATIVE, founded in 1940, is a mid-sized nonprofit that reported $78.6M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Net assets of $178.0M represent 27 months of operating reserves.

Mission

MAKE ELECTRIC ENERGY AVAILABLE TO OUR MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

Program Service Accomplishments

Program 1

DISTRIBUTION OF POWER TO RURAL ELECTRIC 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 $74,810,632

Investment Income $710,913

Other Revenue $3,111,809

TOTAL REVENUE $78,633,354

Expense Breakdown

Grants Paid $1,528,121

Salaries & Benefits $1,824,988

Fundraising Expenses $0

Other Expenses $67,234,361

TOTAL EXPENSES $77,370,413

Year-over-Year Comparison

	2024	2023	Change
Revenue	$78,633,354	$72,760,199	+0.1%
Expenses	$77,370,413	$71,314,031	+0.1%
Net Income	$1,262,941	$1,446,168	-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

$1,191,362

Total Directors

$268,218

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDDIE KIP LIGHT	CHAIRMAN	9.00	Officer Director	$37,607	$0	$37,607
KELLY MCFARLANE	VICE CHAIRMAN	5.00	Officer Director	$23,072	$0	$23,072
KEN MILTENBERGER	SECRETARY/TREASURER	5.00	Officer Director	$25,181	$0	$25,181
BOYD KEETON	DIRECTOR	5.00	Director	$36,749	$0	$36,749
TOM STRAND	DIRECTOR	5.00	Director	$35,572	$0	$35,572
MARK CHRISTIE	DIRECTOR	5.00	Director	$35,677	$0	$35,677
BEVERLY CLARNO	DIRECTOR	5.00	Director	$36,012	$0	$36,012
DAN STEELHAMMER	DIRECTOR	5.00	Director	$15,649	$0	$15,649
SAM MCKENZIE	DIRECTOR	5.00	Director	$22,699	$0	$22,699
BRAD WILSON	CEO/PRESIDENT	57.00	Officer	$442,736	$324,388	$767,124
SHANE MORGAN	VP FINANCE & ACCOUNTING	55.00	Officer	$257,280	$81,098	$338,378
TODD FEHRENBACHER	SERVICEMAN	57.00	Highest	$216,546	$112,717	$329,263
CHRIS LAITE	LINEMAN	57.00	Highest	$252,823	$85,621	$338,444
RYAN DAVIES	VP CUSTOMER & ENERGY SERVI	55.00	Highest	$231,209	$71,497	$302,706
KEVIN ROHDE	VP OPERATIONS/ENGINEERING	55.00	Highest	$225,656	$79,752	$305,408
ZACHARY IRZYK	LINEMAN	57.00	Highest	$204,566	$38,683	$243,249

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	$78,633,354	$77,370,413	$270,383,184	$1,262,941
2023	$72,760,199	$71,314,031	$258,999,374	$1,446,168
2022	$71,137,265	$65,129,837	$249,796,984	$6,007,428
2021	$105,052,324	$62,966,108	$242,542,165	$42,086,216
2020	$66,345,426	$64,380,155	$210,683,076	$1,965,271