The Radiant Electric Cooperative

Nonprofit profile at a glance

EIN
480502834
IRS 990 coverage
2018–2019
Forms available
Form 990 2019
Location
Fredonia, KS, USA
Phone
6203782161
Rating
42
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$9,444,366
Expenses
$9,444,366
Assets
$28,884,630
Liabilities
$14,942,769

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Thomas E Ayers (Vice President)
  • Michael L Springer (President)

Highest reported compensation

  • Dennis Duft (COO): $245,349 total reported compensation
  • Leah M Tindle (CFO): $230,808 total reported compensation
  • Sandra Smith (Trustee): $6,017 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Radiant Electric Cooperative is a member based organization providing safe, reliable and cost-effective energy

What it reported doing in 2019

Utilizing approximately 1,502 miles of transmission and distribution lines, Radiant Electric Cooperative, Inc. provided 67,174,943 Kilowatt-Hours of electric energy to its members located predominately in the rural ares of Montgomery and Wilson Counties.

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: 71
  • Accountability: 86
  • Sustainability: 46
  • Growth: 20

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: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 3.06; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -6.2% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $245K · 9 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.5M reported
  • Consistency: 13 of 14 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2018 to 2019
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.