NorVal Electric Cooperative
Legal name: Norval Electric Cooperative Inc
Nonprofit profile at a glance
- EIN
- 810215971
- IRS 990 coverage
- 2020–2025
- Official website data refreshed
- Jul 2026
- Forms available
- Form 990 2025
- Location
- Glasgow, MT, USA
- Phone
- (406) 228-9351
- Rating
- 50
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Local Benevolent Life Insurance Associations
Reported finances
- Revenue
- $9,117,886
- Expenses
- $9,117,886
- Assets
- $31,746,000
- Liabilities
- $12,173,526
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- Chris Christensen (President)
- Richard Molvig (Vice President)
Highest reported compensation
- Nicholas Dulaney (Line Superintendent): $129,094 total reported compensation
- Jayson Nelson (Foreman): $122,117 total reported compensation
- Cody Odom (Foreman): $121,371 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of NorVal Electric Cooperative, Inc. is to provide reliable electric service to members at a competitive price. It is also the co-op’s mission to continually seek ways to expand the customer base to benefit the overall economic condition of the cooperative service territory. It is the mission to accomplish this with a highly trained and efficient staff in conjunction with a well informed membership.
What it reported doing in 2025
To provide electricity to rural farms, residences, businesses and other industrial entities in Northeast Montana.
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
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: 90
- Accountability: 100
- Sustainability: 42
- Growth: 20
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: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- 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; 63rd 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: 0%; rating input score 26; 26th percentile among comparable filings
- Total-asset coverage ratio: 3.48; rating input score 74; 74th percentile among comparable filings
- Liabilities to assets ratio: 0.38; rating input score 21; 21st percentile among comparable filings
- Officer compensation ratio: 7.2%; rating input score 44; 44th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -2.8% per year; rating input score 0; 4th percentile among comparable filings
- Asset growth: 2.5% per year; rating input score 100; 20th percentile among comparable filings
Details
- What they do: 5 programs and campaigns described on the official site · 2 operating locations identified
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $129K · 12 people listed
- Highest-paid contractors: 1 contractor listed · $243K reported
- Consistency: 11 of 12 current checks pass · 1 finding to review
- Schedules: 2 filed schedules
- Filing history: 6 filing years from 2020 to 2025
- Contacts: How to reach this organization
- Money network: 12 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Sustainability: Operating margin scored 26/100.
- High — Sustainability: Liabilities to assets ratio scored 21/100.
- Moderate — Sustainability: Officer compensation ratio scored 44/100.