Hawkeye Tri-County Electric Cooperative DBA Hawkeye REC

Nonprofit profile at a glance

EIN
420320323
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Cresco, IA, USA
Phone
5635473801
Rating confidence
Limited
Sector
Public Utilities

Official website

Reported finances

Revenue
$25,412,318
Expenses
$24,724,871
Assets
$63,825,209
Liabilities
$41,576,910

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Dean Fisher (President)
  • Dean Nierling (Vice President)
  • Brian Krambeer (Chief Executive Officer)

Highest reported compensation

  • Brian Krambeer (Chief Executive Officer): $187,181 total reported compensation
  • Dean Fisher (President): $11,590 total reported compensation
  • Charles Frana (Director): $10,525 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

As a locally owned Cooperative organization we strive to provide a reliable electric distribution system, maintain financial stability, communicate, maximize marketing opportunities, provide other related services, and use sound business practices thus earning the trust, loyalty and respect of our patrons.

What it reported doing in 2015

Distribution of electricity to approximately 5,464 members located primarily in rural areas.

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: 75
  • Accountability: 95
  • Sustainability: 59
  • 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; 2nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 69th 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: 2.7%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 2.58; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.65; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.7% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 57th 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 $187K · 8 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.2M reported
  • Consistency: 10 of 11 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 3 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.

  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 51/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.