Owen Electric Cooperative
Legal name: Owen Electric Cooperative Inc
Nonprofit profile at a glance
- EIN
- 610299615
- IRS 990 coverage
- 2010–2025
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2025
- Location
- Sparta, KY, US
- Phone
- (800) 372-7612
- Rating
- 40
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $261,023,968
- Expenses
- $261,023,968
- Assets
- $326,267,475
- Liabilities
- $141,298,162
Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- Michael L Cobb (President and CEO)
Highest reported compensation
- Michael L Cobb (President and CEO): $499,247 total reported compensation
- Andrew Long (VP of Engineering): $259,497 total reported compensation
- Michael Stafford (VP of Member Services): $251,412 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Provide electric service to members on a patronage basis. Serve approximately 66,000 member accounts. Improve our member's lives by providing safe, reliable, and affordable electric service.
What it reported doing in 2025
Not Applicable
Operating model
- Revenue model
- Other-operating. 100% 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 revenue has grown recently. 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: 88
- Accountability: 42
- Sustainability: 35
- 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: 100%; rating input score 100; 66th 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: Pass
- 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: 0%; rating input score 0; 3rd 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 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 1.25; rating input score 34; 34th percentile among comparable filings
- Liabilities to assets ratio: 0.43; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 1.1%; rating input score 75; 75th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 2.7% per year; rating input score 100; 19th percentile among comparable filings
- Asset growth: 3.6% per year; rating input score 100; 23rd percentile among comparable filings
Details
- What they do: 11 programs and campaigns described on the official site · 9 operating locations identified
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 0 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $499K · 19 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $6.6M reported
- Consistency: 13 of 14 current checks pass · 1 finding to review
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 9 filing years from 2010 to 2025
- Contacts: How to reach this organization
- Money network: 19 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.
- 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Sustainability: Operating margin scored 23/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.