South Central Power Co

Legal name: South Central Power Company

Nonprofit profile at a glance

EIN
314311730
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Lancaster, OH, USA
Phone
(800) 282-5064
Rating confidence
Limited

Official website

Reported finances

Revenue
$391,809,698
Expenses
$391,809,698
Assets
$903,673,712
Liabilities
$548,509,467

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

Leadership & pay

23 people listed

Executive titles in this filing

  • RICHARD LEMONDS (PRESIDENT/CEO)

Highest reported compensation

  • RICHARD LEMONDS (PRESIDENT/CEO): $1,922,382 total reported compensation
  • THOMAS MUSICK (VP ENGINEERING/BROADBAND): $474,842 total reported compensation
  • ALLISON SAFFLE (CHIEF FINANCIAL OFFICER): $408,926 total reported compensation

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

Overview

Mission

Our cooperative exists to add value to the lives of our members by delivering safe and dependable service.

What it reported doing in 2024

Security division: providing security services to our members on a cooperative basis. When cumulative margins derived from member subscriber sales of security services exceed cumulative net losses from such sales, the cooperative will allocate patronage capital to the member subscribers. There were 1,676 active subscribers at year end.

Operating model

Revenue model
Earned-program. 99% 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: 78
  • Accountability: 95
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 83%; rating input score 83; 18th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 2.31; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 1.4%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 24.7% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • What they do: Mission, programs, and operating context captured from the official website.
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $1.9M · 23 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $49.6M reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 25 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • 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 29/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.