Hickman-fulton Counties Rural Electric Cooperative Corporation
Nonprofit profile at a glance
- EIN
- 610224485
- IRS 990 coverage
- 2010–2015
- Forms available
- Form 990 2015
- Location
- Hickman, KY, USA
- Phone
- 2702362521
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Public Utilities
Reported finances
- Revenue
- $5,462,677
- Expenses
- $5,578,633
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- DEBRA WEATHERFORD (PRES/CEO)
Highest reported compensation
- DEBRA WEATHERFORD (PRES/CEO): $93,908 total reported compensation
- DAVID KIMBELL (CHAIRMAN): $5,635 total reported compensation
- JERRY GRAHAM (VICE CHAIRMA): $4,015 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to always provide the most reliable electric service at the lowest rates possible and to provide the consumers in our service area with a member owned utility that focuses on our customers' needs.
What it reported doing in 2015
Utilizing approximately 727 miles of distribution lines, hickman-fulton counties rural electric cooperative corporation provided electric energy to its members located in fulton, hickman, carlisle, and graves counties in Kentucky and obion and lake counties in Tennessee.
Operating model
- Revenue model
- Earned-program. 98% 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. Revenue has declined or grown slowly and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 90
- Accountability: 100
- Sustainability: 21
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd 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; 65th percentile among comparable filings
- Governance controls: 9 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: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -2.1%; rating input score 25; 25th percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 2.1%; rating input score 75; 75th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -9% per year; rating input score 0; 6th percentile among comparable filings
- Asset growth: -15% per year; rating input score 0; 4th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $94K · 6 people listed
- Highest-paid contractors: 1 contractor listed · $257K reported
- Consistency: 16 of 16 current checks pass
- Schedules: 3 filed schedules
- Filing history: 6 filing years from 2010 to 2015
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- 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 — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 25/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 0/100.