Wellman Cooperative Telephone Association

Nonprofit profile at a glance

EIN
420591540
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Wellman, IA, USA
Phone
3196466075
Rating confidence
Limited
Sector
Homeowners & Tenants Associations

Official website

Reported finances

Revenue
$3,187,954
Expenses
$3,102,779
Assets
$12,882,514
Liabilities
$6,419,114

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JEREMY STATLER (VICE PRESIDENT)
  • TONY STUTZMAN (PRESIDENT)

Highest reported compensation

  • DION SCHMINKE (COO): $181,622 total reported compensation
  • TONY STUTZMAN (PRESIDENT): $3,210 total reported compensation
  • NICOLE SLABAUGH (DIRECTOR): $3,150 total reported compensation

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

Overview

Mission

To provide high quality, reliable telecommunications services to its members.

What it reported doing in 2024

The cooperative provides quality services to its member subscribers we have built our entire service area with fiber to provide high speed internet, video, local exchange services and toll services. We provide equipment for sale or lease and installation and maintenance of customer premise wiring and other miscellaneous services. We also provide transport from our towers.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating 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: 67
  • Accountability: 100
  • Sustainability: 51
  • Growth: 60

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; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 2.7%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 4.15; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 6.5%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.8% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $182K · 9 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $2.7M reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.