Kosciusko Remc

Nonprofit profile at a glance

EIN
350449575
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Warsaw, IN, USA
Phone
5742676331
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$58,691,291
Expenses
$54,319,994
Assets
$147,384,924
Liabilities
$70,377,386

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

Leadership & pay

17 people listed

Executive titles in this filing

  • KURT CARVER (PRESIDENT & CEO)

Highest reported compensation

  • KURT CARVER (PRESIDENT & CEO): $442,799 total reported compensation
  • JEFF MOORE (VP OF ENGIN/OPER.): $240,176 total reported compensation
  • TIM LANDRIGAN (CFO): $214,056 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 provide electricity

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 71
  • Accountability: 91
  • Sustainability: 61
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.6%; rating input score 92
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th 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; 77th 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: 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: Fail

Sustainability

  • Operating margin: 7.4%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 2.71; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.48; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 12.5% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 91.6% of revenue deployed · 99.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $54.2M in reported program spending
  • Leadership: top reported pay $443K · 17 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $5.4M reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 2 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 — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.