Rural Electric Convenience Cooperative
Nonprofit profile at a glance
- EIN
- 370495772
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Auburn, IL, USA
- Phone
- 2174386197
- Rating
- 44
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $17,182,657
- Expenses
- $17,182,657
- Assets
- $44,896,106
- Liabilities
- $29,452,419
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Highest reported compensation
- Sean R Middleton (PresidentCEO): $251,541 total reported compensation
- Timothy Hemberger (Mgr Operations): $211,408 total reported compensation
- Aubrie Megginson (Mgr FinanceAdmn): $132,390 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 and services cooperative, our Members needs are Rural Electric Convenience Cooperatives first priority.
What it reported doing in 2024
Rural Electric Convenience Cooperative (RECC) serves 5,994 consumers in Sangamon, Morgan, Macoupin, Christian, and Montgomery counties. RECC also serves consumers in several growing subdivisions around Springfield, Taylorville, Litchfield, and other towns.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program 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: 66
- Accountability: 95
- Sustainability: 45
- 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; 62nd 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; 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: Pass
- Other executive compensation review process: Fail
- 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 31; 31st percentile among comparable filings
- Total-asset coverage ratio: 2.61; rating input score 71; 71st percentile among comparable filings
- Liabilities to assets ratio: 0.66; rating input score 20; 20th percentile among comparable filings
- Officer compensation ratio: 4.1%; rating input score 59; 59th percentile among comparable filings
Growth
- Program expense growth: -54% per year; rating input score 0; 0th percentile among comparable filings
- Revenue growth: 0.4% per year; rating input score 100; 10th percentile among comparable filings
- Asset growth: 1.6% per year; rating input score 100; 16th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $252K · 12 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.4M reported
- Consistency: 13 of 14 current checks pass · 1 finding to review
- Schedules: 3 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- 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: Program expense growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 31/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Liabilities to assets ratio scored 20/100.
- Review — Sustainability: Officer compensation ratio scored 59/100.