Fort Belknap Electric Cooperative Inc

Nonprofit profile at a glance

EIN
750274876
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Olney, TX, USA
Phone
9405643526
Rating confidence
Limited

Official website

Reported finances

Revenue
$17,477,578
Expenses
$17,477,578
Assets
$40,656,536
Liabilities
$9,621,097

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

Leadership & pay

10 people listed

Executive titles in this filing

  • RICK ICKERT (PRESIDENT)
  • LARRY HEARNE (VICE PRESIDENT)
  • KENDALL MONTGOMERY (CEO/GENERAL MANAGER)

Highest reported compensation

  • KENDALL MONTGOMERY (CEO/GENERAL MANAGER): $230,957 total reported compensation
  • BENNIE LANE (SECRETARY/TREASURER): $26,539 total reported compensation
  • RICK ICKERT (PRESIDENT): $26,089 total reported compensation

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

Overview

Mission

Provide reliable, quality electric service to our member-owners at an affordable and competitive cost, while maintaining the financial integrity of the cooperative.

What it reported doing in 2024

Sale of electric power to members at cost on a cooperative basis through the allocation of patronage capital. There were 6,270 meters/services at year end.

Operating model

Revenue model
Earned-program. 100% 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: 72
  • Accountability: 91
  • Sustainability: 49
  • 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: 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: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • 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: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 2.33; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3% per year; rating input score 100; 26th percentile among comparable filings
  • Asset growth: 1.8% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $231K · 10 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $1.3M reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 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: 2 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.