Concordia Electric Cooperative Inc

Nonprofit profile at a glance

EIN
720158715
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Jonesville, LA, USA
Phone
3183397969
Rating
37
Verdict
REVIEW
Rating confidence
Moderate

Reported finances

Revenue
$28,029,004
Expenses
$29,942,281
Assets
$37,758,213
Liabilities
$26,082,438

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Stanley DeWayne Bailey (General Manager & CEO)
  • Billy Davis (Interim General Manager & CEO)
  • Don Hamilton (Vice President)
  • David Wade (President)

Highest reported compensation

  • Stanley DeWayne Bailey (General Manager & CEO): $139,021 total reported compensation
  • Craig McCully (Staking & Safety): $108,878 total reported compensation
  • Jacques Lossin (Service Lineman): $107,180 total reported compensation

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

Overview

Mission

Sale of electricity to 13,775 consumers.

What it reported doing in 2024

Sale of electricity to 13,804 consumers.

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

REVIEW - The filed numbers largely add up and program spending has grown recently. 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: 90
  • Accountability: 18
  • Sustainability: 31
  • Growth: 100

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; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.8%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 2.1%; rating input score 76; 76th percentile among comparable filings

Growth

  • Program expense growth: 34.3% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 6.5% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 9 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $29.9M in reported program spending
  • Leadership: top reported pay $139K · 14 people listed
  • Highest-paid contractors: 2 contractors listed · $595K reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 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 — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 14/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.