NineStar Connect
Legal name: Hancock Rural Telephone Corporation Dba Ninestar Connect
Nonprofit profile at a glance
- EIN
- 350914373
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Greenfield, IN, United States
- Phone
- 317-326-3131; 1-866-326-9848
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $67,076,687
- Expenses
- $62,788,915
- Assets
- $276,204,374
- Liabilities
- $71,778,857
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
28 people listed
Executive titles in this filing
- MIKE BURROW (PRESIDENT & CEO)
- SCOTT HIATT (SENIOR VICE PRESIDENT)
Highest reported compensation
- MIKE BURROW (PRESIDENT & CEO): $510,503 total reported compensation
- SCOTT HIATT (SENIOR VICE PRESIDENT): $332,821 total reported compensation
- ROSS FERSON (CHIEF TECHNOLOGY OFFICER): $267,910 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 dependable, cost-effective utility and communications services through a member-owned nonprofit cooperative, and support community giving programs that help those in need. NineStar Connect is a smart utility that brings urban-grade fiber optic and utility infrastructure solutions to Indiana’s most rural communities. Our reliable infrastructure solutions have made the communities we serve the most wired in Indiana, and desirable places for sustained economic development. Our members give back. NineStar Connect is a nonprofit electric, communications and water & sewer cooperative, so we don’t sell to customers or work for shareholders. Instead, we have members who serve as our owners— and they’re the same people who live in the homes, attend the schools, and work at the businesses we serve. That means our sole mission is to deliver the most dependable, cost-effective services...
What it reported doing in 2024
Provides electric, telecommunications, water and sewer products and services to cooperative customers in a 8-county area of east central Indiana. As of december 31, 2024, the number of electric services totaled 19,338, 11,866 broadband customers, 1,283 water customers and 139 sewer utility customers.
Operating model
- Revenue model
- Earned-program. 96% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 97% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 86
- Accountability: 95
- Sustainability: 64
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 92.5%; rating input score 92
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 77th 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: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.4%; rating input score 62; 62nd percentile among comparable filings
- Total-asset coverage ratio: 4.4; rating input score 83; 83rd percentile among comparable filings
- Liabilities to assets ratio: 0.26; rating input score 61; 61st percentile among comparable filings
- Officer compensation ratio: 4.1%; rating input score 24; 24th percentile among comparable filings
Growth
- Program expense growth: 5% per year; rating input score 100; 40th percentile among comparable filings
- Revenue growth: 4.9% per year; rating input score 100; 41st percentile among comparable filings
- Asset growth: 9.6% per year; rating input score 100; 68th percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 92.5% of revenue deployed · 100% of spending went to programs
- Governance: 13 of 13 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $62.8M in reported program spending
- Leadership: top reported pay $511K · 28 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $6.5M reported
- Consistency: 22 of 22 current checks pass
- Schedules: 6 filed schedules · includes grants and executive pay
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 23 filed money-flow records
- Related organizations: 6 filed related-organization links
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 24/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.