Todd-wadena Electric Cooperative Inc

What it reported doing in 2024

Todd-wadena electric cooperative's enhanced services for its 7,475 members include energy conservation and efficiency grants, rebates, free consultations, an energy analysis service and stand alone generators. We also offer a renewable wind energy option, safety education, a loan program, multiple payment options, a monthly newsletter and an interactive website.about $10,030 was donated to various community groups and organizations, including schools, community action, fire departments, city festivals, and the like. In addition, todd-wadena's members continued to contribute 100% of the funding of its 'operation round up' program, a 501(c)(3) program that funds projects undertaken by local community organizations. Overseen by an independent board of directors, recipient organizations include food shelves, school groups, civic groups, senior centers, historical societies, fire and rescue departments and the like. In 2024, $34,060 was distributed to 22 local service groups through this program.todd-wadena continues to be an avid supporter of local youth. In 2024 twec underwrote $4,050 in support of youth such as sponsoring 4h tshirts, and $3,880 for supporting a youth representative on the nreca youth tour to Washington dc, where they met legislators and learned about government and the cooperative business model. In 2024 todd-wadena supported education through uncashed capital credits checks paying out $6,000.todd-wadena supports the communities they serve through their commitment to community programs. There was $26,725 in sponsorships and employee volunteering time provided.

Financial Efficiency

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

Transparency & Controls

• Consistency checks: 83.3%; rating input score 83; 0th 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: 58.1%; rating input score 58; 12th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 71.4%; rating input score 71; 12th 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: 2.5%; rating input score 44; 44th percentile among comparable filings
• Total-asset coverage ratio: 2.85; rating input score 73; 73rd percentile among comparable filings
• Liabilities to assets ratio: 0.59; rating input score 23; 23rd percentile among comparable filings
• Officer compensation ratio: 7.1%; rating input score 35; 35th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 2.7% per year; rating input score 100; 23rd percentile among comparable filings
• Asset growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings