Buckeye Power Inc
Nonprofit profile at a glance
- EIN
- 310676582
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Columbus, OH, USA
- Phone
- 6143072101
- Rating
- 51
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $915,533,213
- Expenses
- $886,312,808
- Assets
- $1,599,226,510
- Liabilities
- $1,087,358,528
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
40 people listed
Executive titles in this filing
- Craig Grooms (President CEO Jan to June 2025)
- Patrick O'Loughlin (President CEO July to Dec 2024)
Highest reported compensation
- Patrick O'Loughlin (President CEO July to Dec 2024): $1,394,914 total reported compensation
- Craig Grooms (President CEO Jan to June 2025): $567,648 total reported compensation
- William Roberts (VP Finance CFO): $525,638 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Deliver to Members stably and competitively priced economical and highly reliable wholesale power for the benefit of their members and their communities.
What it reported doing in 2024
Buckeye Power Inc Buckeye is an electric generation and transmission cooperative. Buckeye provides wholesale electric service to its 25 Members constituting all of the electric distribution cooperatives engaged in the sale of electricity within the State of Ohio. Buckeye which is headquartered in Columbus Ohio is a not-for-profit corporation operating on a cooperative basis incorporated under the laws of the state of Ohio.
Operating model
- Revenue model
- Other-operating. 100% of the money available for current operations came from other operating 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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 89
- Accountability: 100
- Sustainability: 53
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- 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: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th 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: 3.2%; rating input score 48; 48th percentile among comparable filings
- Total-asset coverage ratio: 1.8; rating input score 60; 60th percentile among comparable filings
- Liabilities to assets ratio: 0.68; rating input score 23; 23rd percentile among comparable filings
- Officer compensation ratio: 0.6%; rating input score 83; 83rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.7% per year; rating input score 100; 40th percentile among comparable filings
- Asset growth: -2.2% per year; rating input score 0; 4th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 25 of 25 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $1.4M · 40 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $4.7M reported
- Consistency: 27 of 44 current checks pass · 17 findings to review
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 19 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 48/100.
- High — Sustainability: Liabilities to assets ratio scored 23/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Advertising column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Interest column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Occupancy column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OtherEmployeeBenefits column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX PensionPlanContributions column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Travel column sum did not reconcile in the filed values.