Lyon Rural Electric Cooperative
Nonprofit profile at a glance
- EIN
- 420389015
- IRS 990 coverage
- 2010–2025
- Forms available
- Form 990 2025
- Location
- Rock Rapids, IA, USA
- Phone
- 7124722506
- Rating confidence
- Limited
Reported finances
- Revenue
- $15,120,752
- Expenses
- $15,122,420
- Assets
- $35,384,704
- Liabilities
- $20,224,477
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- DAVID HUFF (PRESIDENT)
- NOLAN KOOIKER (VICE PRESIDENT)
Highest reported compensation
- ROSS LOOMANS (GENERAL MANAGER (PART YEAR)): $247,665 total reported compensation
- DUSTIN TIMMERMAN (GENERAL MANAGER): $202,374 total reported compensation
- LARRY WIBBEN (MEMBER SERVICES DIRECTOR): $174,208 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The primary objective of lyon rural electric cooperative is to provide the highest quality services possible to our member-consumer at the lowest cost consistent with sound business practices. Services provided to our member-consumers will be evaluated at an ongoing basis to meet the changing needs of our membership while benefiting the long-range objectives of the cooperative.
What it reported doing in 2025
Providing reliable and affordable electrical service to our member-consumers. Through our long term planning and reinvestment in the electrical plant our members enjoyed a 99.99 % of continuous service in 2025. Lyon rural electric cooperative residential members enjoyed a rate that ranked in the lowest 10% per kwh of cooperatives in the nation, small commercial members enjoyed a rate that ranked in the lowest 35% per kwh of cooperatives in the nation and large commercial members enjoyed a rate that ranked in the lowest 55% per kwh of cooperatives in the nation in 2025, the latest reporting period with comparable data.
Operating model
- Revenue model
- Earned-program. 97% 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
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 71
- Accountability: 95
- Sustainability: 33
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th 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; 64th 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: Pass
- 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: -0%; rating input score 21; 21st percentile among comparable filings
- Total-asset coverage ratio: 2.34; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: 0.57; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 9%; rating input score 29; 29th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.9% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: 5.2% per year; rating input score 100; 35th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $248K · 16 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $424K reported
- Consistency: 12 of 12 current checks pass
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 16 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 16 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Operating margin scored 21/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Review — Sustainability: Total-asset coverage ratio scored 58/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.
- High — Sustainability: Officer compensation ratio scored 29/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.