Farmers Electric Cooperative
Nonprofit profile at a glance
- EIN
- 420245083
- IRS 990 coverage
- 2016–2024
- Forms available
- Form 990 2024
- Location
- Kalona, IA, USA
- Phone
- 3196832510
- Rating confidence
- Limited
Reported finances
- Revenue
- $3,537,877
- Expenses
- $2,817,463
- Assets
- $7,023,751
- Liabilities
- $241,470
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- DEAN MILLER (PRESIDENT)
- DOUG SLABAUGH (VICE PRESIDENT)
Highest reported compensation
- TIM HEISDORFFER (GENERAL MANAGER): $107,776 total reported compensation
- DEAN MILLER (PRESIDENT): $3,750 total reported compensation
- DOUG SLABAUGH (VICE PRESIDENT): $3,510 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Providing electric services to member patrons
Operating model
- Revenue model
- Earned-program. 78% 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: 89
- Accountability: 91
- Sustainability: 72
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 3rd 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: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- 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: 20.4%; rating input score 77; 77th percentile among comparable filings
- Total-asset coverage ratio: 2.49; rating input score 69; 69th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 75; 75th percentile among comparable filings
- Officer compensation ratio: 4.4%; rating input score 58; 58th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.7% per year; rating input score 100; 39th percentile among comparable filings
- Asset growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $108K · 6 people listed
- Consistency: 10 of 11 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 8 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: 6 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 — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Sustainability: Officer compensation ratio scored 58/100.