Rock Energy Cooperative

Nonprofit profile at a glance

EIN
390574424
IRS 990 coverage
2020–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Janesville, WI, US
Phone
866-752-4550
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$66,313,178
Expenses
$66,313,178
Assets
$131,544,746
Liabilities
$73,616,364

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

Leadership & pay

15 people listed

Executive titles in this filing

  • SHANE L LARSON (CEO)

Highest reported compensation

  • SHANE L LARSON (CEO): $658,725 total reported compensation
  • CHRISTOPHER R TULLAR (Operations Manager): $248,906 total reported compensation
  • WILLIAM WRIGHT (Lineman): $218,740 total reported compensation

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

Overview

Mission

As an energy cooperative, Rock Energy Cooperative strives to distribute reliable electric and natural gas services at competitive prices to its members.

What it reported doing in 2024

Distribution of electric and natural gas services

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 93% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and most voting board members are independent. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 66
  • Accountability: 100
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • 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; 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: 0%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 1.98; rating input score 63; 63rd percentile among comparable filings
  • Liabilities to assets ratio: 0.56; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 22nd percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 18th 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: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $66.3M in reported program spending
  • Leadership: top reported pay $659K · 15 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.8M reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 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 — Sustainability: Operating margin scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.