Overview
What is Lyon Rural Electric Cooperative?
Lyon Rural Electric Cooperative, based in Rock Rapids, Iowa, is a nonprofit utility company dedicated to delivering reliable and affordable electrical services to its member-consumers. Through strategic long-term planning and investment in the electrical plant, the cooperative achieved an impressive 99.97% of continuous service in 2022. Residential, small commercial, and large commercial members enjoyed electricity rates that ranked among the lowest in their respective categories within the cooperative sector in the United States. The cooperative's primary goal is to provide top-notch services to its members at the most affordable prices, ensuring ongoing evaluations to meet evolving needs and long-term objectives. The entity employs a team of 15 individuals to maintain and enhance its operations.
Official website here: www.lyonrec.coop
Is Lyon Rural Electric Cooperative legitimate?
Lyon Rural Electric Cooperative is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lyon Rural Electric Cooperative 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: $343,069
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lyonrec.coop
What is the mission statement of Lyon Rural Electric Cooperative?
The Lyon Rural Electric Cooperative is dedicated to delivering superior services to its member-consumers at the most affordable cost. This commitment to quality and affordability is pursued in accordance with sound business practices. The cooperative's offerings to its membership are regularly assessed to cater to evolving needs while aligning with the cooperative's long-term objectives.
Official website here: www.lyonrec.coop
Who is the CEO of Lyon Rural Electric Cooperative?
David Huff is the President of Lyon Rural Electric Cooperative.
Official website here: www.lyonrec.coop
What is the revenue of Lyon Rural Electric Cooperative?
Lyon Rural Electric Cooperative's revenue in 2022 was $13,182,606.
Official website here: www.lyonrec.coop
Who are the executives of Lyon Rural Electric Cooperative and what are their salaries?
The average compensation at Lyon Rural Electric Cooperative during 2022 was $22,871. There are 15 employees at Lyon Rural Electric Cooperative.
Here are 11 key members and their salaries:
- Compensation: $7,800
- Related: $0
- Other: $5
- Compensation: $5,600
- Related: $0
- Other: $5
- Compensation: $4,600
- Related: $0
- Other: $5
- Compensation: $7,850
- Related: $0
- Other: $5
- Compensation: $7,600
- Related: $0
- Other: $5
- Compensation: $5,850
- Related: $0
- Other: $5
- Compensation: $6,350
- Related: $0
- Other: $5
- Compensation: $3,650
- Related: $0
- Other: $0
- Compensation: $5,650
- Related: $0
- Other: $5
- Compensation: $3,550
- Related: $0
- Other: $5
- Compensation: $147,440
- Related: $0
- Other: $137,084
Official website here: www.lyonrec.coop
Where can I find the form 990 for Lyon Rural Electric Cooperative?
Lyon Rural Electric Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lyonrec.coop
Learn more at the official website: www.lyonrec.coop
Mission Statement of Lyon Rural Electric Cooperative
Lyon Rural Electric Cooperative, a rural utility service organization, is dedicated to delivering the highest quality electrical services to its member-consumers at the most affordable price. The cooperative's mission is to continually evaluate and improve its offerings to meet the evolving needs of its membership while contributing to the long-term objectives of the cooperative.
In simple terms, Lyon Rural Electric Cooperative strives to provide reliable and affordable electricity to its rural community members. This commitment to quality and affordability is a top priority for the cooperative, and it consistently works to maintain this standard. The cooperative's team is always assessing the changing needs of its member-consumers to ensure that its services stay relevant and beneficial in the long run.
Lyon Rural Electric Cooperative's primary goal is to provide essential electrical services to its members, ensuring a consistent and uninterrupted power supply. This commitment extends beyond just delivering electricity. The organization is always seeking ways to enhance its offerings and adapt to the evolving needs of its members, making it an invaluable resource for the rural community it serves.
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Impact
October, 2024
Lyon Rural Electric Cooperative has made a significant impact by ensuring reliable and affordable electrical service to its member-consumers in Rock Rapids, IA. In 2022, the cooperative achieved an impressive 99.97% continuous service rate, underscoring its commitment to providing high-quality utilities.
The cooperative’s pricing structure is particularly advantageous, with residential rates ranking in the lowest 10% nationally among cooperatives. Small commercial members also benefit from rates within the lowest 10%, while large commercial members enjoy rates in the lowest 50%. This pricing strategy not only makes electricity accessible for its members but also supports local economic growth and stability.
By prioritizing long-term planning and reinvestment in its electrical infrastructure, Lyon Rural Electric Cooperative continues to adapt to the evolving needs of its community. Its mission centers around delivering top-notch services at the lowest possible cost, reflecting a strong dedication to the public benefit and the well-being of its membership.
This information is meant to be a general summary of Lyon Rural Electric Cooperative. 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: $36,244
- Program Service Revenue: $12,152,949
- Gross Receipts: $13,344,588
Assets and Liabilities:
- Total Assets: $28,323,833
- Total Liabilities: $15,562,641
- Net Assets: $12,761,192
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALE OF POWER
Revenue
$12,152,949
Organization Details
Founding Year
1938
Phone
(712) 472-2506Principal Officer
David Huff
Main Address
116 SOUTH MARSHALL PO BOX 629, ROCK RAPIDS, IA, 51246
Website
www.lyonrec.coopNTEE Category
Code: W80 - Public benefit
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