Overview
What is Lorain-Medina Rural Electric Cooperative Inc?
Lorain-Medina Rural Electric Cooperative Inc is a nonprofit organization based in Wellington, Ohio. Their primary mission is to provide electricity and related services to their member-owners. With a team of 46 employees, they aim to deliver highly reliable electric service, superior customer service, and innovative energy solutions at competitive prices. The cooperative values its commitment to its members and strives to meet their power needs effectively.
Official website here: www.lmre.org
What are the reviews and ratings of this charity?
The Lorain-Medina Rural Electric Cooperative Inc is not currently rated by Charity Navigator. This lack of rating arises because the organization has not yet been evaluated; it does not imply a positive or negative assessment. Charity Navigator evaluates nonprofit organizations registered as 501(c)(3) entities, a category this cooperative does not belong to. Consequently, critical evaluation metrics such as Accountability & Finance, Impact & Measurement, and Leadership & Adaptability are not provided.
The organization is noted to be an independent entity, which suggests it operates on its own without any parent organization or auxiliary. However, specific data such as total revenue, expenses, and salaries of key personnel are not available. This absence of financial transparency information may limit stakeholders’ ability to comprehensively assess its financial health and management effectiveness from an external viewpoint.
Without a Charity Navigator rating or user feedback from GreatNonprofits, there is limited information available to conclusively evaluate the strengths or weaknesses of Lorain-Medina Rural Electric Cooperative Inc. Interested parties might need to consult other sources directly related to the organization for more insights.
This AI summary has been generated from information found on Charity Navigator.
Is Lorain-Medina Rural Electric Cooperative Inc legitimate?
Lorain-Medina Rural Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lorain-Medina Rural Electric Cooperative Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lmre.org
What is the mission statement of Lorain-Medina Rural Electric Cooperative Inc?
Lorain-Medina Rural Electric Cooperative Inc is dedicated to providing electricity and related services to its member-owners. The cooperative strives to deliver highly reliable electric service, superior customer service, and innovative energy solutions at competitive prices. It aims to meet the energy needs of its members, ensuring they have consistent access to power for their daily lives. Additionally, the cooperative explores and implements advanced energy solutions, enhancing the overall value it offers to its member-owners.
Official website here: www.lmre.org
Who is the CEO of Lorain-Medina Rural Electric Cooperative Inc?
Edward Vanhoose is the Chair of Lorain-Medina Rural Electric Cooperative Inc. The CEO's salary of Lorain-Medina Rural Electric Cooperative Inc is $207,119 and their total compensation is $225,032.
Official website here: www.lmre.org
What is the revenue of Lorain-Medina Rural Electric Cooperative Inc?
Lorain-Medina Rural Electric Cooperative Inc's revenue in 2022 was $48,347,059.
Official website here: www.lmre.org
Who are the executives of Lorain-Medina Rural Electric Cooperative Inc and what are their salaries?
There are 46 employees at Lorain-Medina Rural Electric Cooperative Inc.
Here are 17 key members and their salaries (Lorain-Medina Rural Electric Cooperative Inc's CEO's salary is $207,119 and their total compensation is $225,032):
- Compensation: $18,475
- Related: $0
- Other: $0
- Compensation: $10,500
- Related: $0
- Other: $0
- Compensation: $11,175
- Related: $0
- Other: $0
- Compensation: $15,800
- Related: $0
- Other: $0
- Compensation: $12,575
- Related: $0
- Other: $0
- Compensation: $11,100
- Related: $0
- Other: $0
- Compensation: $9,800
- Related: $0
- Other: $0
- Compensation: $3,575
- Related: $0
- Other: $0
- Compensation: $5,100
- Related: $0
- Other: $0
- Compensation: $3,850
- Related: $0
- Other: $0
- Compensation: $5,525
- Related: $0
- Other: $0
- Compensation: $207,119
- Related: $0
- Other: $17,913
- Compensation: $118,504
- Related: $0
- Other: $18,967
- Compensation: $127,064
- Related: $0
- Other: $11,195
- Compensation: $115,315
- Related: $0
- Other: $13,423
- Compensation: $106,069
- Related: $0
- Other: $13,376
- Compensation: $102,179
- Related: $0
- Other: $7,314
Official website here: www.lmre.org
Where can I find the form 990 for Lorain-Medina Rural Electric Cooperative Inc?
Lorain-Medina Rural Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lmre.org
Learn more at the official website: www.lmre.org
Mission Statement of Lorain-Medina Rural Electric Cooperative Inc
Lorain-Medina Rural Electric Cooperative Inc is committed to delivering electricity and related services to its member-owners. The cooperative's mission goes beyond just supplying power; it strives to provide reliable electric service, superior customer service, and innovative energy solutions at competitive prices.
In practice, this means that Lorain-Medina Rural Electric Cooperative Inc is dedicated to ensuring that its members have access to a consistent power supply, minimizing power outages and restoring service promptly when disruptions occur. The cooperative also values excellent customer service, responding to inquiries and concerns in a timely and professional manner.
Moreover, Lorain-Medina Rural Electric Cooperative Inc is at the forefront of energy innovation, constantly exploring new ways to meet the evolving energy needs of its members. By offering competitive prices, the cooperative makes advanced energy solutions accessible to a wider audience, empowering members to make informed choices about their energy usage and ultimately reducing their carbon footprint.
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Impact
October, 2024
Lorain-Medina Rural Electric Cooperative Inc plays a vital role in delivering highly reliable electric service to the communities it serves in Wellington, Ohio, and the surrounding areas. By focusing on superior customer service and innovative energy solutions, the cooperative enhances the quality of life for its member-owners.
The cooperative's commitment to providing electricity and related services ensures that residents and businesses have access to the essential power they need for daily activities and operations. Its competitive pricing models make electricity more affordable, fostering economic growth and stability within the region. By investing in innovative energy solutions, Lorain-Medina Rural Electric Cooperative also supports sustainability efforts, helping to pave the way for a greener future.
Overall, the cooperative's impact extends beyond just electricity supply; it contributes to community resilience, economic development, and energy efficiency, ultimately improving the well-being of its members.
This information is meant to be a general summary of Lorain-Medina Rural Electric Cooperative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $240,401
- Program Service Revenue: $46,684,500
- Gross Receipts: $48,347,059
Assets and Liabilities:
- Total Assets: $106,860,497
- Total Liabilities: $42,897,149
- Net Assets: $63,963,348
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENTIAL SALES
Revenue
$35,169,133
COMMERCIAL SALES - LARGE
Revenue
$4,849,181
COMMERCIAL SALES - SMALL
Revenue
$4,392,075
PUBLIC REVENUES
Revenue
$1,313,540
OTHER ELECTRIC REVENUES
Revenue
$960,571
Organization Details
Founding Year
1936
Phone
(440) 647-2133Principal Officer
Edward Vanhoose
Main Address
PO BOX 158, WELLINGTON, OH, 44090
Website
www.lmre.orgIf you are a representative of Lorain-Medina Rural Electric Cooperative Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.