Arizona Electric Power Cooperative Inc

Nonprofit profile at a glance

EIN
860176697
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Benson, AZ, USA
Phone
5205863631
Rating confidence
Limited
Sector
Voluntary Employees Beneficiary Associations (Non-Government)

Official website

Reported finances

Revenue
$189,995,960
Expenses
$186,653,939
Assets
$770,104,992
Liabilities
$584,284,737

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • REUBEN B MCBRIDE (DIRECTOR (PRESIDENT))
  • J TYLER CARLSON (DIRECTOR(VICE PRESIDENT))

Highest reported compensation

  • PATRICK LEDGER (CHIEF EXCECUTIVE OFFICER): $871,247 total reported compensation
  • PETER SCOTT (CHIEF FINANCIAL OFFICER): $420,560 total reported compensation
  • JOHN SANDERS (KEY EMPLOYEE): $404,462 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide electric service to its members.

What it reported doing in 2024

Aepco is a generation cooperative that provides the power needs of its member-owned distribution cooperatives, providing electricity to more than 147,000 meters.

Operating model

Revenue model
Earned-program. 81% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 66
  • Accountability: 91
  • Sustainability: 51
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.8%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 4.13; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0.76; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 14 of 14 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $871K · 27 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $7.7M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 26 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.