Union Rural Electric Cooperative
Legal name: Union Rural Electric Co-op Inc
Nonprofit profile at a glance
- EIN
- 314329510
- IRS 990 coverage
- 2020–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Marysville, OH, United States
- Phone
- (937) 642-1826
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $65,687,173
- Expenses
- $65,687,910
- Assets
- $120,545,250
- Liabilities
- $60,657,573
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- Anthony P Smith (President/CEO)
Highest reported compensation
- Anthony P Smith (President/CEO): $391,859 total reported compensation
- David G Speicher (VP Finance/CFO): $316,218 total reported compensation
- Michael C Aquillo (CXO): $271,579 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
While much has changed since URE’s incorporation in 1936, our commitment to serving our members remains steadfast. URE continues to be your local member-owned electric and natural gas cooperative, dedicated to serving the community. Our Mission is to make a difference in our community by delivering safe and reliable energy to our members at fair prices. 7-numeral-circle-seven-cooperative-principles. The strength of the cooperative lies in having a qualified and committed board of trustees, so each trustee is required to achieve specific levels of industry education and training provided by our state and national associations. Trustees serve a 3-year term. Map of Districts & Trustees.
What it reported doing in 2024
The cooperative distributes electricity and natural gas to its member/owners and also constructs and mantains facilities to carry out this purpose. Served approximately 12,000 members in the reporting year.
Operating model
- Revenue model
- Other-operating. 100% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 95% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 82
- Accountability: 100
- Sustainability: 39
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th 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: 100%; rating input score 100; 77th 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: 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 27; 27th percentile among comparable filings
- Total-asset coverage ratio: 1.84; rating input score 60; 60th percentile among comparable filings
- Liabilities to assets ratio: 0.5; rating input score 36; 36th percentile among comparable filings
- Officer compensation ratio: 3%; rating input score 39; 39th percentile among comparable filings
Growth
- Program expense growth: 1.9% per year; rating input score 100; 15th percentile among comparable filings
- Revenue growth: 3.6% per year; rating input score 100; 28th percentile among comparable filings
- Asset growth: 3.2% per year; rating input score 100; 22nd percentile among comparable filings
Details
- What they do: 2 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $65.7M in reported program spending
- Leadership: top reported pay $392K · 15 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.5M reported
- Consistency: 22 of 22 current checks pass
- Schedules: 4 filed schedules · includes grants and executive pay
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 19 filed money-flow records
- Related organizations: 4 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 27/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 36/100.
- Moderate — Sustainability: Officer compensation ratio scored 39/100.