Boone Power

Legal name: Boone Remc

Nonprofit profile at a glance

EIN
350188040
IRS 990 coverage
2021–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Lebanon, IN, US
Phone
800-897-7362
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$76,545,941
Expenses
$63,759,730
Assets
$176,258,272
Liabilities
$88,453,292

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

Leadership & pay

18 people listed

Executive titles in this filing

  • WILLIAM CONLEY (CEO/PRESIDENT)

Highest reported compensation

  • WILLIAM CONLEY (CEO/PRESIDENT): $512,419 total reported compensation
  • JEFFERY DICKERSON (VP OF OPERATIONS): $290,843 total reported compensation
  • ALLEN JONES (VP OF ENGINEERING SERVICES): $268,892 total reported compensation

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

Overview

Mission

Providing our members energy-related services in a safe, dependable, and reasonably priced manner.

What it reported doing in 2024

Distribution of electricity

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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. Reported officer compensation is a large share of total spending, which may reflect staffing concentration and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 71
  • Accountability: 94
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.5%; rating input score 83
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 36th 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: 16.7%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 2.76; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • What they do: 10 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 82.5% of revenue deployed · 99.8% of spending went to programs
  • Governance: 8 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $63.6M in reported program spending
  • Leadership: top reported pay $512K · 18 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $904K reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.