Miami-cass County Rural Electric Membership Corporation
Nonprofit profile at a glance
- EIN
- 350512035
- IRS 990 coverage
- 2015–2024
- Forms available
- Form 990 2024
- Location
- Peru, IN, USA
- Phone
- 7654736668
- Rating confidence
- Limited
Reported finances
- Revenue
- $22,668,629
- Expenses
- $22,320,176
- Assets
- $97,879,098
- Liabilities
- $74,592,536
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- JIM SAVAGE (PRESIDENT)
- TODD SMITH (VICE PRESIDENT)
- ROB SCHWARTZ (CEO)
Highest reported compensation
- ROB SCHWARTZ (CEO): $350,261 total reported compensation
- BRANDON WILLIAMS (DIRECTOR OF OPERATIONS): $198,049 total reported compensation
- KOLBIE COX (JOURNEYMAN LINEMAN): $188,957 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 dependable electricity for our members at a reasonable cost.
What it reported doing in 2024
Distribution of electricity to rural customers
Operating model
- Revenue model
- Other-operating. 99% of the money available for current operations came from other operating 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: 82
- Sustainability: 50
- 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; 62nd 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; 66th 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: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 1.5%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 4.39; rating input score 83; 83rd percentile among comparable filings
- Liabilities to assets ratio: 0.76; rating input score 15; 15th percentile among comparable filings
- Officer compensation ratio: 6%; rating input score 43; 43rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
- Asset growth: 13.1% per year; rating input score 100; 76th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 7 of 7 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $350K · 13 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 4 contractors listed · $20.3M reported
- Consistency: 11 of 11 current checks pass
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 9 filing years from 2015 to 2024
- Contacts: How to reach this organization
- Money network: 14 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.
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.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 40/100.
- High — Sustainability: Liabilities to assets ratio scored 15/100.
- Moderate — Sustainability: Officer compensation ratio scored 43/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.