Salt River Electric

Legal name: Salt River Electric Cooperative Corporation

Nonprofit profile at a glance

EIN
610329022
IRS 990 coverage
2010–2025
Official website data refreshed
Sep 2026
Forms available
Form 990 2025
Location
Bardstown, KY, USA
Phone
1-800-221-7465
Rating confidence
Limited

Official website

Reported finances

Revenue
$148,380,526
Expenses
$148,380,526
Assets
$226,824,146
Liabilities
$80,962,181

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • TIM SHARP (PRESIDENT & CEO)

Highest reported compensation

  • TIM SHARP (PRESIDENT & CEO): $468,347 total reported compensation
  • CHASE MILLS (COO): $214,010 total reported compensation
  • WILLIAM CLEMENTS (LINEMAN): $200,926 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Salt River Electric has partnered with HomeServe, giving eligible members the opportunity to enroll in electrical coverage, with plans starting as low as $5.99 a month! See how these plans can help protect you from unexpected expenses and the inconvenience of emergency electrical repairs to your home!. SimpleSaver Program Have a smart thermostat in your home, or thinking about getting one? You may qualify for a bill credit by signing up for the SimpleSaver program! Click here for more information, and click here to enroll in the program!

What it reported doing in 2025

Provide distribution sales of electricity to an average of approximately 57,596 consumers monthly on a patronage basis.

Operating model

Revenue model
Earned-program. 95% 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

- 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: 87
  • Accountability: 100
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 66th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 65th 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: 1.53; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • What they do: 2 programs and campaigns described on the official site
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $148.4M in reported program spending
  • Leadership: top reported pay $468K · 13 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $6.9M reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 23/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.