Cooperative Telephone Company

Nonprofit profile at a glance

EIN
420803307
IRS 990 coverage
2016–2021
Forms available
Form 990 2021
Location
Victor, IA, USA
Phone
3196473131
Rating confidence
Limited

Official website

Reported finances

Revenue
$3,221,068
Expenses
$2,678,195
Assets
$15,965,602
Liabilities
$7,050,891

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • LONNY KOEHN (DIRECTOR/PRESIDENT)
  • KEN BLOOME (DIRECTOR/VICE PRESIDENT)

Highest reported compensation

  • SCOTT SCHABACKER (GENERAL MANAGER/COO): $129,132 total reported compensation
  • LONNY KOEHN (DIRECTOR/PRESIDENT): $3,700 total reported compensation
  • TRACY SCHAFBUCH (DIRECTOR/SECRETARY/TREASUR): $1,700 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide telecommunications to its members.

What it reported doing in 2021

Telecommunications services: the cooperative provides quality services to its member subscribers. These services include local exchange sevices, toll services, terminal equipment for sale or lease, internet services, pcs services, cable television services and other miscellaneous services for quality telecommunications service.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 65
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.9%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 5.96; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.44; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.8% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 25.8% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $129K · 8 people listed
  • Highest-paid contractors: 2 contractors listed · $1.6M reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2016 to 2021
  • Contacts: How to reach this organization
  • Money network: 8 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.

  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.