Nishnabotna Valley Rural Electric Cooperative

Nonprofit profile at a glance

EIN
420519838
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Harlan, IA, USA
Phone
7127552166
Rating confidence
Limited

Reported finances

Revenue
$21,471,271
Expenses
$20,392,982
Assets
$54,674,454
Liabilities
$24,223,199

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

Leadership & pay

14 people listed

Executive titles in this filing

  • DONNA OLSON (PRESIDENT)
  • GENE KENKEL (VICE-PRESIDENT)
  • WILLIAM MCKIM (CEO)

Highest reported compensation

  • DAVID MONSON (MATERIALS COORDINATOR/FOREMAN): $183,312 total reported compensation
  • KERT BARNUM (DIRECTOR OF OPERATIONS): $175,325 total reported compensation
  • AARON NIPPERT (FOREMAN): $161,285 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Nishnabotna valley rec will provide safe and reliable electric services to our members in a valuable, sustainable, and environmentally responsible manner.

What it reported doing in 2024

Provided 214,741,987 kwh of electricity to approximately 2,561 members, while maintaining system reliability as a whole.

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: 53
  • Accountability: 95
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 83.3%; rating input score 83; 0th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: Fail
    • 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: 5%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 2.68; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.44; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 85.7% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 30th 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 · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $183K · 14 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $1.1M reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 3 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.

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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 54/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.