HARNEY ELECTRIC COOPERATIVE INC (EIN 930454456) - 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

1954

Legal Domicile

Principal Officer

FRED FLIPPENCE

Phone

5415732061

Tax Period

2024-01-01 to 2024-12-31

HARNEY ELECTRIC COOPERATIVE INC, founded in 1954, is a mid-sized nonprofit that reported $15.3M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

TO PROVIDE LOW COST ELECTRICITY 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $14,808,679

Investment Income $478,982

Other Revenue $45,049

TOTAL REVENUE $15,332,710

Expense Breakdown

Grants Paid $10,000

Salaries & Benefits $4,119,345

Fundraising Expenses $0

Other Expenses $10,858,594

TOTAL EXPENSES $15,332,710

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,332,710	$13,519,428	+0.1%
Expenses	$15,332,710	$13,519,428	+0.1%
Net Income	$0	N/A	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

$424,758

Total Directors

$281,570

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED FLIPPENCE	GENERAL MANAGER	40.00	Officer	$236,814	$64,739	$301,553
JASON HILL	OPERATIONS MNGR	40.00		$184,758	$66,689	$251,447
MICHAEL ESTRADA	FOREMAN	46.00		$156,258	$62,945	$219,203
CHARLES KNOX	FOREMAN	45.00		$152,292	$62,211	$214,503
WYATT SHELLEY	FOREMAN	45.00		$155,898	$46,363	$202,261
JOSEPH BAILEY	FOREMAN	46.00		$160,827	$19,995	$180,822
GARY MILLER	SEC/TREAS	1.00	Officer Director	$51,109	$0	$51,109
CHRIS VENELL	Director	1.00	Director	$49,747	$0	$49,747
JOHN UGALDE	President	1.00	Officer Director	$37,144	$0	$37,144
FRANK ALBISU	Director	1.00	Director	$37,051	$0	$37,051
RODNEY HOAGLAND	Director	1.00	Director	$36,099	$0	$36,099
HANK DUFURRENA	Director	1.00	Director	$35,468	$0	$35,468
JOE CRONIN	VICE PRES	1.00	Officer Director	$34,952	$0	$34,952

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	$15,332,710	$15,332,710	$32,986,979	No data
2023	$13,519,428	$13,519,428	$33,611,481	No data
2022	$15,898,011	$15,898,011	$33,104,088	No data
2021	$16,091,631	$16,091,631	$32,154,008	No data
2020	$15,122,812	$15,122,812	$31,460,481	No data
2019	$12,766,755	$12,766,755	$30,861,880	No data
2018	$14,171,244	$14,171,244	$30,994,366	No data

HARNEY ELECTRIC COOPERATIVE INC