Chickasaw Electric Cooperative Inc

Nonprofit profile at a glance

EIN
620157827
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Somerville, TN, USA
Phone
9014653591
Rating
44
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$14,820,741
Expenses
$13,743,464
Assets
$82,186,406
Liabilities
$33,745,765

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

Leadership & pay

17 people listed

Executive titles in this filing

  • VIP LEWIS (VICE PRESIDENT)
  • ROYCE REEVES (PRESIDENT)

Highest reported compensation

  • LOYD MUNCY (GENERAL MANAGER): $252,550 total reported compensation
  • FREDDIE CLIFFT (LINE SUPERVISOR): $198,787 total reported compensation
  • JONATHAN BOWEN (LEAD LINEMAN): $182,491 total reported compensation

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

Overview

Mission

Ro deliver solid, low-cost electricty to power our members into tomorrow.

What it reported doing in 2024

Electricity sales are generated from sales of power to the cooperative members, revenues are used to offset the purchase of power.

Operating model

Revenue model
Other-operating. 68% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - Most voting board members are independent and the filed numbers largely add up. 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: 61
  • Accountability: 100
  • Sustainability: 62
  • Growth: 60

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: 84.6%; rating input score 85; 0th 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: 7.3%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 5.98; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: -102.9% per year; rating input score 0; 0th percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 12.1% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 10 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $13.7M in reported program spending
  • Leadership: top reported pay $253K · 17 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $8.8M reported
  • Consistency: 24 of 26 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 17 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D revenue reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.