Kaw Valley Electric Cooperative Inc

Nonprofit profile at a glance

EIN
480292485
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Topeka, KS, USA
Phone
7854783444
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Utilities

Official website

Reported finances

Revenue
$21,187,309
Expenses
$20,840,509
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

13 people listed

Highest reported compensation

  • GERALD MANNING (GM): $232,137 total reported compensation
  • CURTIS HAVENSTEIN (LINE SUPER): $167,144 total reported compensation
  • MICHELLE MEYER (CFO): $161,593 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide reliable electric

What it reported doing in 2016

Provide electricity to approximately 9,400 rural members

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 64
  • Accountability: 91
  • Sustainability: 27
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.4%; rating input score 98
  • 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: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 68th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: 1.6%; rating input score 45; 45th 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: 3.7%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 0.4% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: -16.2% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 98.4% 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
  • Leadership: top reported pay $232K · 13 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $318K reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • Money network: 13 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.