Lorain-medina Rural Electric Coop Inc
501(c)(12)
Only null% goes to programs Strong reserves Growing revenue
Lorain-medina Rural Electric Coop Inc is a 501(c)(12) organization based in Wellington, Ohio, registered in 1938, with $50,615,188 in FY2024 revenue. CharityIndex grades it B.
22898 West Rd, Wellington, OH, 44090 EIN 34-0365430 Since 1938
Revenue (FY2024)
$50.6M
▲ 2.1% vs prior year
Expenses (FY2024)
$43.7M
Net assets
$75.5M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
★★★★
Rated on 2 of 4 criteria — the rest aren't reported in this filing type.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
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. Not scored for Lorain-medina Rural Electric Coop Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating21 mo reserves · +14% 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 Lorain-medina Rural Electric Coop Inc: 21 mo reserves · +14% margin earns a A on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
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. Not scored for Lorain-medina Rural Electric Coop Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
CTransparency10% of the rating2 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 Lorain-medina Rural Electric Coop Inc: 2 of 5 disclosure signals earns a C on this criterion. See the exact thresholds →
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Contact & location
- Address
- 22898 West Rd, Wellington, OH, 44090
- City
- Wellington
- State
- Ohio
- Category
- —
- Subcategory
- —
- Website
- …
Financial trends
Revenue grew from $36.2M (FY2013) to $50.6M (FY2024) across 7 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $47.4MNet assets $75.5M
Operating margin
13.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$122.9M
Total liabilities
$47.4M
Net assets
$75.5M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $50,615,188▲2.1% | $43,688,290▲4.9% | $75,535,993▲6.3% | $122,929,686▲8.6% | 990 |
| 2023 | $49,578,413▲2.5% | $41,651,270▲1.6% | $71,075,000▲11.1% | $113,241,930▲6.0% | 990 |
| 2022 | $48,347,059▲11.2% | $40,980,234▲6.5% | $63,963,348▲8.7% | $106,860,497▲3.7% | 990 |
| 2021 | $43,488,454▲8.2% | $38,490,542▲5.6% | $58,857,009▲5.0% | $103,003,393▲1.6% | 990 |
| 2020 | $40,199,966▼1.5% | $36,447,599▲1.7% | $56,058,681▲2.9% | $101,399,261▲11.4% | 990 |
| 2019 | $40,792,883▲12.6% | $35,831,188▲6.4% | $54,460,640▲43.1% | $90,990,146▲11.2% | 990 |
| 2013 | $36,225,016 | $33,686,251 | $38,052,912 | $81,796,344 | 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.
Frequently asked questions
- Is Lorain-medina Rural Electric Coop Inc a legitimate nonprofit?
- Yes. Lorain-medina Rural Electric Coop Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 34-0365430, based in Wellington, Ohio.
- What is Lorain-medina Rural Electric Coop Inc's EIN?
- Lorain-medina Rural Electric Coop Inc's Employer Identification Number (EIN) is 34-0365430.
- How much revenue does Lorain-medina Rural Electric Coop Inc report?
- Lorain-medina Rural Electric Coop Inc reported $50,615,188 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Lorain-medina Rural Electric Coop Inc have?
- CharityIndex grades Lorain-medina Rural Electric Coop Inc B, based on financial health (reserves and operating margin).
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Data for Lorain-medina Rural Electric Coop Inc (EIN 34-0365430) 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.