Laco Elec Inc

Nonprofit profile at a glance

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

20 people listed

JOEL BARTON (BUS. MAN./FIN SEC - PAST): $365,535 total reported compensation
GAYLORD ROTEN (PRESIDENT - PAST): $308,999 total reported compensation
ROBERT CORONA (BUSINESS MANAGER/FINANCIAL SEC): $305,383 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Title-holding entity.

Revenue model: Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Consistency checks: 100%; rating input score 100; 63rd 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

Independent voting board: 33.3%; rating input score 33; 19th percentile among comparable filings
Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Missing
- Other executive compensation review process: Missing
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail

Operating margin: -2,388.9%; rating input score 3; 3rd percentile among comparable filings
Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
Liabilities to assets ratio: Limited
Officer compensation ratio: 16.6%; rating input score 14; 14th percentile among comparable filings

Program expense growth: Limited
Revenue growth: -0.5% per year; rating input score 0; 59th percentile among comparable filings
Asset growth: 5.1% per year; rating input score 100; 68th percentile among comparable filings

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 4 of 12 board members independent · 5 of 9 filing controls reported
Programs: 1 filed program accomplishment
Leadership: top reported pay $366K · 20 people listed · 0 of 6 pay-setting controls reported
Consistency: 8 of 8 current checks pass
Schedules: 4 filed schedules · includes executive pay
Filing history: 10 filing years from 2014 to 2023
Contacts: How to reach this organization
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.

Signals prioritize questions for review. They are not findings of misconduct.

High — Transparency & Controls: Pay-setting controls scored 0/100.
Moderate — Accountability: Independent voting board scored 33/100.
High — Growth: Revenue growth scored 0/100.
High — Sustainability: Operating margin scored 3/100.
High — Sustainability: Total-asset coverage ratio scored 3/100.
Review — Accountability: Governance controls: Independent financial-statement audit not reported.
High — Sustainability: Officer compensation ratio scored 14/100.