Carroll Electric Cooperative, Inc.

Legal name: Carroll Electric Cooperative Inc

Nonprofit profile at a glance

EIN
340133865
IRS 990 coverage
2010–2025
Official website data refreshed
Sep 2026
Forms available
Form 990 2025
Location
Carrollton, OH, USA
Phone
1-800-232-7697
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$29,578,917
Expenses
$28,071,416
Assets
$72,702,814
Liabilities
$44,597,485

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

Leadership & pay

16 people listed

Executive titles in this filing

  • LARRY FENBERS (CEO)

Highest reported compensation

  • LARRY FENBERS (CEO): $586,031 total reported compensation
  • WILLIAM MEESE (MANAGER OF E): $261,823 total reported compensation
  • AUSTIN JACKSON (LINEMAN): $185,607 total reported compensation

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

Overview

Mission

Serving and enlightening our members and communities.

What it reported doing in 2025

Carroll electric cooperative (cec) has been committed to providing reliable electric service to carroll, columbiana, harrison, jefferson, tuscarawas and stark counties. Cec provides electrical service to nearly 8,951 customers.

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 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 77
  • Accountability: 86
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.8%; rating input score 95
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.1%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 2.59; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 94.8% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $586K · 16 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $2.8M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.