Lorain-Medina Rural Electric Cooperative

Legal name: Lorain-medina Rural Electric Cooperative Inc

Nonprofit profile at a glance

EIN
340365430
IRS 990 coverage
2013–2025
Official website data refreshed
Sep 2026
Forms available
Form 990 2025
Location
Spencer, OH, USA
Phone
440-647-2133
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$53,962,602
Expenses
$52,018,238
Assets
$135,237,730
Liabilities
$57,643,365

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • EDWARD VANHOOOSE (CEO)

Highest reported compensation

  • EDWARD VANHOOOSE (CEO): $375,580 total reported compensation
  • JAMES BRASEE (OPERATIONS MANAGER): $299,796 total reported compensation
  • COLLEEN ANTHONY (ACCOUNTING MANAGER): $239,511 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide our member-owners with highly reliable electric service, superior customer service and innovative energy solutions at competitive prices. 2. Mission, Vision & Value Statements Mission Statement To provide our member-owners with highly reliable electric service, superior service, and innovative energy solutions at competitive prices. Statement To provide our member-owners with highly reliable electric service, superior service, and innovative energy solutions at competitive prices. Vision Statement. Commitment to our Members Support of our Employees and their development Contribution to our Communities.

What it reported doing in 2025

Provide electricity and related services to members.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 96% 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. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.1%; rating input score 96
  • Program expense ratio: 99.9%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 66th 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; 65th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • 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: 3.6%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 2.6; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 47; 47th percentile among comparable filings
  • Officer compensation ratio: 4.6%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 26th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 96.1% of revenue deployed · 99.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $52M in reported program spending
  • Leadership: top reported pay $376K · 21 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.9M reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2013 to 2025
  • Contacts: How to reach this organization
  • Money network: 21 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 — Sustainability: Operating margin scored 50/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 47/100.