National Rural Electric Cooperative
501(c)(9)
100% goes to programs Strong reserves Growing revenue
National Rural Electric Cooperative is a 501(c)(9) organization based in Arlington, Virginia, registered in 1980, with $838,293,694 in FY2024 revenue. CharityIndex grades it A, and it directs about 100% of spending to programs.
4301 Wilson Boulevard, Arlington, VA, 22203 EIN 56-6208927 Since 1980
Revenue (FY2024)
$838.3M
▲ 1.6% vs prior year
Expenses (FY2024)
$844.1M
Net assets
$694.6M
Employees
0
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 National Rural Electric Cooperative: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating10 mo reserves · -1% 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 National Rural Electric Cooperative: 10 mo reserves · -1% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 National Rural Electric Cooperative: 5 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 National Rural Electric Cooperative: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
A group benefit trust designed to provide health and welfare benefits for members of nreca.
Contact & location
Financial trends
Revenue grew from $751.8M (FY2020) to $838.3M (FY2024) across 5 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $167.6MNet assets $694.6M
Operating margin
-0.7%
Spent more than it raised in the latest fiscal year.
Total assets
$862.3M
Total liabilities
$167.6M
Net assets
$694.6M
Salaries & benefits
$69K
0% of expenses
Board members
10
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $838,293,694▲1.6% | $844,136,338▲10.4% | $694,636,251▲13.7% | $862,266,478▲10.9% | 990 |
| 2023 | $824,688,034▲13.6% | $764,466,134▲6.7% | $610,863,762▲16.7% | $777,585,780▲11.9% | 990 |
| 2022 | $725,995,934 | $716,314,025▼0.5% | $523,483,868▼9.9% | $694,733,318▼8.7% | 990 |
| 2021 | $725,806,986▼3.5% | $719,852,096▲6.9% | $580,844,037▲1.4% | $760,805,496▲2.5% | 990 |
| 2020 | $751,839,593 | $673,295,810▲15.2% | $572,821,540▲176% | $742,011,711▲92.5% | 990 |
| 2010 | — | $584,487,999 | $207,742,288 | $385,464,504 | 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: State Street Corporation — $69,168 (0.01% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| State Street Corporation | Institutional Trustee | 5 | $69,168 |
| Bryan Case | Chairman | 2 | — |
| David Spradlin | Member | 2 | — |
| Don Douglas | Member | 1 | — |
| Gene Morris | Member (as of 03/24) | 1 | — |
| Hunter Emory | Vice Chairman (thru 03/24) | 1 | — |
| James Webb | Member | 1 | — |
| Jennifer Meason | Member (as of 03/24) | 1 | — |
| Lynn Jacobson | Member | 1 | — |
| Mel Coleman | Vice Chairman | 1 | — |
| Peter Baxter | Senior Vice President | 20 | — |
| Randall Kleaving | Member (as of 03/24) | 2 | — |
| Steven W Walter | Member (thru 03/24) | 1 | — |
| Timothy J Smith | Member (thru 03/24) | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Umr | Claims Processing | $22,811,451 |
| Optomi LLC | Consulting Services | $1,738,319 |
| Caremark | Managed Care Services | $1,629,072 |
| Experis It Services Us LLC | Consultant | $1,457,658 |
| Decisionpath Consulting | Consultant | $911,626 |
Frequently asked questions
- Is National Rural Electric Cooperative a legitimate nonprofit?
- Yes. National Rural Electric Cooperative is a 501(c)(9) organization registered with the U.S. Internal Revenue Service under EIN 56-6208927, based in Arlington, Virginia.
- What is National Rural Electric Cooperative's EIN?
- National Rural Electric Cooperative's Employer Identification Number (EIN) is 56-6208927.
- How much revenue does National Rural Electric Cooperative report?
- National Rural Electric Cooperative reported $838,293,694 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of National Rural Electric Cooperative's spending goes to programs?
- National Rural Electric Cooperative spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does National Rural Electric Cooperative have?
- CharityIndex grades National Rural Electric Cooperative A, based on program efficiency and fundraising cost.
- How much does National Rural Electric Cooperative's highest-paid employee make?
- The highest reported compensation on National Rural Electric Cooperative's latest Form 990 is $69,168, paid to State Street Corporation (Institutional Trustee).
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Data for National Rural Electric Cooperative (EIN 56-6208927) 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.