Missouri Electric Cooperatives Association of Mo Electric Cooperatives

What it reported doing in 2024

Cooperative advertising this program serves as the advertising program for all of Missouri's electric cooperatives. Media purchases are made for cooperatives both individually and collectively. The goal is to receive a better rate for our systems with group purchases and have statewide coverage. The ads are a combination of "electrical safety", "brand marketing", and "youth initiatives". The organization also ran ads in digital print form. The print ads were mainly in rural Missouri magazine, today's farmer and other agriculture industry publications. The focus of these print ads was promoting safety around electric lines.systems served: 40 distribution cooperatives, 6 transmission cooperatives and 1 generation cooperativebroadcast area: radio is entire state of Missouri, plus additional broadcasts during the state fair. Print area is the entire state of Missouri circulation. Social media is present on facebook, x, instagram, tiktok, and some web pages.number of stations/broadcasts/prints/social media: approximately 83 stations, approximately 10,000 radio ads, 12 print ads per year in rural Missouri, and 35 times in today's farmer, and other agriculture magazines. Also, advertising included placement of banners on internet, streaming tv services and posts on facebook. Ads were also placed on pandora and spotify streaming radio.short term goals: provide public information as it relates to safety and current issues of electric cooperatives. Examples: rate issues, storms, energy efficiency, etc.long term goals: building a base for continually updating our member owners on current events and a consistent, ongoing message of being safe around electricity. We also try to provide these messages in the most economical and broad means possible.

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: 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: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 0.6%; rating input score 35; 35th percentile among comparable filings
• Total-asset coverage ratio: 0.62; rating input score 21; 21st percentile among comparable filings
• Liabilities to assets ratio: 0.34; rating input score 42; 42nd percentile among comparable filings
• Officer compensation ratio: 15.7%; rating input score 7; 7th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 3% per year; rating input score 100; 26th percentile among comparable filings
• Asset growth: 4.8% per year; rating input score 100; 34th percentile among comparable filings