Howard Electric Cooperative
Nonprofit profile at a glance
- EIN
- 430330970
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Fayette, MO, USA
- Phone
- 6602483311
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $9,465,174
- Expenses
- $8,773,473
- Assets
- $31,527,993
- Liabilities
- $17,030,450
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
Executive titles in this filing
- Amber Overfelt (CEO/General Manager)
- Dale Kirby (President)
- Lee Young (Vice President)
Highest reported compensation
- Amber Overfelt (CEO/General Manager): $229,365 total reported compensation
- Emily Bange (CFO/HR): $176,300 total reported compensation
- Brandon Lightfoot (Operations Manager): $175,879 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
As a cooperative, Howard Electric operates on a non-profit basis. All revenue above the cost of doing business (margins) is assigned to the members under a patronage refund plan called capital credits. The cooperative assigned capital credits annually and keeps a careful record of each member's investment in the co-op.
What it reported doing in 2024
Providing electric energy to the members of the cooperative
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 76
- Accountability: 91
- Sustainability: 54
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 90.5%; rating input score 90
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- 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: Missing
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 7.3%; rating input score 57; 57th percentile among comparable filings
- Total-asset coverage ratio: 3.59; rating input score 78; 78th percentile among comparable filings
- Liabilities to assets ratio: 0.54; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 14%; rating input score 20; 20th percentile among comparable filings
Growth
- Program expense growth: 3% per year; rating input score 100; 28th percentile among comparable filings
- Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: 4.6% per year; rating input score 100; 33rd percentile among comparable filings
Details
- Where the money goes: 90.5% of revenue deployed · 100% of spending went to programs
- Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $8.8M in reported program spending
- Leadership: top reported pay $229K · 17 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $516K reported
- Consistency: 19 of 19 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 17 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: Whistleblower policy not reported.
- Review — Sustainability: Operating margin scored 57/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.
- High — Sustainability: Officer compensation ratio scored 20/100.