National Rural Electric Cooperative Association
Nonprofit profile at a glance
- EIN
- 530116145
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Aug 2026
- Forms available
- Form 990 2024
- Location
- Arlington, VA, USA
- Phone
- 703-907-5500
- Rating confidence
- Limited
Reported finances
- Revenue
- $227,345,758
- Expenses
- $220,881,253
- Assets
- $291,115,816
- Liabilities
- $186,539,163
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
69 people listed
Executive titles in this filing
- MIKE PARTIN (VICE PRESIDENT)
- TONY ANDERSON (PRESIDENT, DIRECTOR)
- JIM MATHESON (CHIEF EXECUTIVE OFFICER)
Highest reported compensation
- JIM MATHESON (CHIEF EXECUTIVE OFFICER): $3,576,472 total reported compensation
- PETER BAXTER (SVP INSURANCE & FINANCIAL SERV): $1,375,081 total reported compensation
- JEFFREY CONNOR (CHIEF OPERATING OFFICER): $970,284 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 serve America's electric cooperatives by advocating for their interests, providing services that enhance their operations, and supporting their mission of delivering reliable, affordable electricity to their members.
What it reported doing in 2024
Multiple employer benefit plan administration: nreca provides plan administration services to three multiple employer benefit programs in which most nreca voting members, and some nreca nonvoting members, can participate. They consist of two retirement programs, the nreca retirement security plan, which is a defined benefit pension plan, and the nreca 401(k) pension plan, which is a defined contribution pension plan. Both plans are tax qualified benefit plans under the internal revenue code and are regulated by the employee retirement income security act. These two plans serve more than 60,000 active and retired employees of most nreca voting members and some nreca nonvoting members. The third plan is the nreca group benefits program, which is a veba trust that provides medical, dental, vision, and disability coverage, and which provides life, ad&d, and business travel accident insurance, to most nreca voting members and some nreca nonvoting members. This veba trust is exempt from income tax under irc section 501(c)(9).
Operating model
- Revenue model
- Other-operating. 94% 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: 94
- Accountability: 100
- Sustainability: 41
- 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; 68th percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- 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: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th 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: 2.8%; rating input score 47; 47th percentile among comparable filings
- Total-asset coverage ratio: 1.32; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 0.64; rating input score 26; 26th percentile among comparable filings
- Officer compensation ratio: 6.1%; rating input score 10; 10th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 2.2% per year; rating input score 100; 16th percentile among comparable filings
- Asset growth: 3% per year; rating input score 100; 20th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 48 of 48 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $3.6M · 69 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $10.7M reported
- Consistency: 12 of 12 current checks pass
- Schedules: 5 filed schedules · includes executive pay and related organizations
- Filing history: 12 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 67 filed money-flow records
- Related organizations: 10 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.
- 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.
- Moderate — Sustainability: Operating margin scored 47/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
- High — Sustainability: Officer compensation ratio scored 10/100.
- High — Sustainability: Liabilities to assets ratio scored 26/100.