Farmers Rural Electric Cooperative Corporation
501(c)(12)
100% goes to programs Strong reserves Growing revenue
Farmers Rural Electric Cooperative Corporation is a 501(c)(12) organization based in Glasgow, Kentucky, registered in 1940, with $65,789,619 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
Po Box 1298, Glasgow, KY, 42142 EIN 61-0189417 Since 1940
Revenue (FY2024)
$65.8M
▲ 6.6% vs prior year
Expenses (FY2024)
$65.8M
Net assets
$56.0M
Employees
68
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Farmers Rural Electric Cooperative Corporation: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating10 mo reserves · +0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Farmers Rural Electric Cooperative Corporation: 10 mo reserves · +0% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Farmers Rural Electric Cooperative Corporation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Farmers Rural Electric Cooperative Corporation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
The cooperative is a rural electric distribution system with a mission of providing reliable electric service to its member-owners in a cost effective manner.
Contact & location
Financial trends
Revenue grew from $57.0M (FY2018) to $65.8M (FY2024) across 7 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $80.7MNet assets $56.0M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$136.8M
Total liabilities
$80.7M
Net assets
$56.0M
Salaries & benefits
$5.3M
8% of expenses
Board members
7
4 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $65,789,619▲6.6% | $65,789,619▲6.6% | $56,033,555▲3.1% | $136,750,515▲2.9% | 990 |
| 2023 | $61,713,920▼8.4% | $61,713,920▼8.4% | $54,322,892▼0.1% | $132,886,341▲2.6% | 990 |
| 2022 | $67,395,267▲18.0% | $67,395,267▲18.0% | $54,375,403▲3.6% | $129,515,239▲4.5% | 990 |
| 2021 | $57,120,734▲14.0% | $57,120,734▲14.0% | $52,483,179▲4.5% | $123,977,998▲3.4% | 990 |
| 2020 | $50,087,988▼8.4% | $50,087,988▼8.4% | $50,214,710▲4.1% | $119,856,022▲2.1% | 990 |
| 2019 | $54,653,011▼4.1% | $54,653,011▼4.1% | $48,234,392▲5.0% | $117,399,165▲5.4% | 990 |
| 2018 | $56,997,596 | $56,997,596 | $45,957,452 | $111,373,545 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Tobias Moss — $220,327 (0.33% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Tobias Moss | President & Ceo | 45 | $220,327 |
| Scott Lester | Vice President, Operations | 45 | $138,191 |
| Chuck Bishop | Vice President, Engineerin | 45 | $136,892 |
| Jennie Phelps | Vice President, Finance & | 45 | $135,755 |
| Steve Morrison | Fepp Plant Manager | 45 | $124,172 |
| Corey Jackson | Vice President, Member & C | 45 | $121,563 |
| Jason Riggs | Vice President, Technology | 45 | $118,281 |
| Randy London | Chairman | 4 | $17,650 |
| Brandi Williams | Secretary Treasurer | 3 | $16,750 |
| Cornelius Faulkner | Vice Chairman | 5 | $15,850 |
| Ronnie Smith | Director | 4 | $15,400 |
| Paul Hawkins | Director | 4 | $14,350 |
| Randy Sexton | Director | 4 | $14,050 |
| Cf Martin Jr | Director | 3 | $13,750 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Townsend Tree Service | Right of Way Clearing | $1,400,332 |
| Greatsouthwestern Construction | Construction of Electric Plant | $831,957 |
| Wa Kendall & Company LLC | Right of Way Clearing | $588,540 |
| Gds Associates | Electric Plant Inspector | $121,942 |
| Sage Right of Way Inc | Right of Way Clearing | $114,130 |
Frequently asked questions
- Is Farmers Rural Electric Cooperative Corporation a legitimate nonprofit?
- Yes. Farmers Rural Electric Cooperative Corporation is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 61-0189417, based in Glasgow, Kentucky.
- What is Farmers Rural Electric Cooperative Corporation's EIN?
- Farmers Rural Electric Cooperative Corporation's Employer Identification Number (EIN) is 61-0189417.
- How much revenue does Farmers Rural Electric Cooperative Corporation report?
- Farmers Rural Electric Cooperative Corporation reported $65,789,619 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Farmers Rural Electric Cooperative Corporation's spending goes to programs?
- Farmers Rural Electric Cooperative Corporation spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Farmers Rural Electric Cooperative Corporation have?
- CharityIndex grades Farmers Rural Electric Cooperative Corporation A+, based on program efficiency and fundraising cost.
- How much does Farmers Rural Electric Cooperative Corporation's highest-paid employee make?
- The highest reported compensation on Farmers Rural Electric Cooperative Corporation's latest Form 990 is $220,327, paid to Tobias Moss (President & Ceo).
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Data for Farmers Rural Electric Cooperative Corporation (EIN 61-0189417) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.