Midwest Electric, Inc.

Legal name: Midwest Electric Inc

Nonprofit profile at a glance

EIN
344304217
IRS 990 coverage
2020–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Saint Marys, OH, US
Phone
419-394-4110
Rating
49
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$41,305,310
Expenses
$37,771,297
Assets
$75,319,268
Liabilities
$38,893,015

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JAMES WIECHART (PRESIDENT)

Highest reported compensation

  • MATTHEW BERRY CEO (ASSISTANT SE): $347,722 total reported compensation
  • KEVIN SCHMIDT (MGR FIN & CU): $253,087 total reported compensation
  • PAUL ROGERS (MGR ENGINEER): $240,088 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 improve the quality of life for our member-owners by providing reliable electricity, superior service, and innovative energy solutions at competitive prices.

What it reported doing in 2024

Cooperative providing electricity to rural customers on a non-profit basis to over 11,200 meters and ensuring effective delivery of the same. All of the meters are located in rural west-central Ohio.

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

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: 76
  • Accountability: 100
  • Sustainability: 58
  • 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: 92.3%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • 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: 67.5%; rating input score 67; 14th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 8.6%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 1.99; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 4.6%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.6% per year; rating input score 100; 48th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 16th percentile among comparable filings

Details

  • What they do: 8 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 8 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $37.8M in reported program spending
  • Leadership: top reported pay $348K · 17 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $658K reported
  • Consistency: 14 of 16 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes grants, executive pay, and related organizations
  • Filing history: 4 filing years from 2020 to 2024
  • 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.

  • 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 — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.