Boone Electric Cooperative

Nonprofit profile at a glance

EIN
430188985
IRS 990 coverage
2012–2025
Forms available
Form 990 2025
Location
Columbia, MO, USA
Phone
5734494181
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$81,103,577
Expenses
$76,402,072
Assets
$230,016,251
Liabilities
$129,565,107

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

23 people listed

Executive titles in this filing

  • Todd Culley (CEO)
  • Kimberly Ponder (President)
  • Wayne Wilcox (Vice President)

Highest reported compensation

  • Todd Culley (CEO): $643,006 total reported compensation
  • Vicki Kemna (Assistant Manager): $451,705 total reported compensation
  • James Goodnight (Operations Manager): $362,044 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of Boone Electric Cooperative is to be responsive to our members' needs by providing a dependable supply of electric energy and other services at the lowest possible cost consistent with sound business practices and cooperative principles.

What it reported doing in 2025

Retail sale of electricity to members, owners and consumers

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 95% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 77
  • Accountability: 100
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94%; rating input score 94
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 66th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.8%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 3.01; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.56; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 5.4%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 94% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $76.4M in reported program spending
  • Leadership: top reported pay $643K · 23 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.3M reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 13 filing years from 2012 to 2025
  • Contacts: How to reach this organization
  • Money network: 24 filed money-flow records
  • Related organizations: 3 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 — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.