Louisiana Rural Electric Association Inc

Nonprofit profile at a glance

EIN
721471114
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lafayette, LA, USA
Phone
3378965384
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$316,012
Expenses
$256,513
Assets
$934,297
Liabilities
$155,640

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

Leadership & pay

12 people listed

Executive titles in this filing

  • GARY SOILEAU (PRESIDENT)

Highest reported compensation

  • CARL COMEAUX (DIRECTOR): $45,947 total reported compensation
  • BRYAN LEONARDS SR (DIRECTOR): $45,902 total reported compensation
  • GARY SOILEAU (PRESIDENT): $36,441 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Regulatory & legislative support; as well as education & safety support

What it reported doing in 2024

Provided regulatory & legislative support to members of the rural electric cooperative; provided safety and other industry education to members.

Operating model

Revenue model
Earned-program. 74% of the money available for current operations came from fees and other program revenue.
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 verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 91
  • Sustainability: 61
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: 18.8%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 3.64; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 11.8%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.7% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $46K · 12 people listed
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.