MIDSTATE ELECTRIC COOPERATIVE INC (EIN 930389023) - 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

1948

Legal Domicile

Principal Officer

James Anderson

Phone

5415362126

Tax Period

2023-01-01 to 2023-12-31

MIDSTATE ELECTRIC COOPERATIVE INC, founded in 1948, is a mid-sized nonprofit that reported $40.2M in total revenue in fiscal year 2023.

Mission

Delivering and selling electricity to the members of the Cooperative.

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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 $0

Program Service Revenue $39,539,864

Investment Income $418,569

Other Revenue $204,922

TOTAL REVENUE $40,163,355

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,794,895

Fundraising Expenses $0

Program Expenses $0

Other Expenses $30,799,787

TOTAL EXPENSES $40,163,355

Year-over-Year Comparison

	2023	2022	Change
Revenue	$40,163,355	$38,478,434	+0.0%
Expenses	$40,163,355	$38,478,434	+0.0%
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

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

$886,513

Total Directors

$191,386

Key Employees

$290,263

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
James Anderson	General Manager	50	Officer	$304,026	$170,459	$474,485
Pat Barker	Working Foreman Area Coordinator	50	Highest	$240,763	$69,339	$310,102
Jami Steinhauer	Accounting Manager	45	Officer	$181,672	$110,909	$292,581
Tom Weller	Engineering Manager	45	Key Emp	$183,492	$106,771	$290,263
Gary Green	Serviceman	55	Highest	$206,047	$63,106	$269,153
Chad Wearin	Line Foreman	52	Highest	$195,408	$67,162	$262,570
Tyler Graff	Line Foreman	51	Highest	$199,934	$32,634	$232,568
Tyler Peterson	Lineman	55	Highest	$204,159	$4,392	$208,551
Dan Jansen	Director	4	Director	$42,422	$0	$42,422
Victor Russell	Director	5	Officer Director	$35,459	$0	$35,459
Tanna King	Secretary / Treasurer	5	Officer	$35,301	$0	$35,301
Alan Parks	Director	3	Director	$34,844	$0	$34,844
Garry Journey	Director	3	Director	$34,394	$0	$34,394
Richard Luebke	Chairman	7	Officer	$25,356	$0	$25,356
Wayne Ernst	Director	6	Director	$25,281	$0	$25,281
Ron Cass	Vice Chairman	2	Officer	$23,331	$0	$23,331
Donovan Kendall	Director	2	Director	$18,986	$0	$18,986

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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$40,163,355	$40,163,355	$97,783,444	No data
2022	$38,478,434	$38,478,434	$86,079,392	No data
2021	$36,643,813	$36,643,813	$76,704,845	No data
2020	$35,421,825	$35,421,825	$70,196,626	No data

MIDSTATE ELECTRIC COOPERATIVE INC