Heartland Rural Electric Cooperative

Nonprofit profile at a glance

EIN
742805422
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Girard, KS, USA
Phone
6207248251
Rating
45
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$26,802,512
Expenses
$27,220,667
Assets
$74,887,678
Liabilities
$44,396,252

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

Leadership & pay

15 people listed

Executive titles in this filing

  • MARK SCHEIBE (CEO)

Highest reported compensation

  • MARK SCHEIBE (CEO): $347,338 total reported compensation
  • ANTHONY WASHINGTON (ELECTRIC SYS): $234,453 total reported compensation
  • DAN AVERY (DIR OF OPERA): $229,867 total reported compensation

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

Overview

Mission

To meet our members' needs and expectations for reliable electricity, superior customer service and innovative energy solutions at reasonable prices.

What it reported doing in 2024

To provide electricity to our members - 11,967 active services at year-end were provided electricity on a cooperative basis and were allocated patronage capital.

Operating model

Revenue model
Earned-program. 99% 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

MIXED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 66
  • Accountability: 100
  • Sustainability: 42
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 4th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.6%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 2.75; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.59; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 5.1%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.8% per year; rating input score 100; 11th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 8 of 8 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $347K · 15 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $2.8M reported
  • Consistency: 12 of 14 current checks pass · 2 findings to review
  • 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: 15 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.