Which funders back the same organizations as National Rural Utilities Cooperative Finance Corporation?

Its strongest co-funders, measured against what their size predicts, include Cooperative Development Foundation.

National Rural Utilities Cooperative Finance Corporation

National Rural Utilities Cooperative Finance Corporation at a glance Also receives grants: funding profile →

· Public charity

National Rural Utilities Cooperative Finance Corporation

Q: How much does National Rural Utilities Cooperative Finance Corporation give?

National Rural Utilities Cooperative Finance Corporation reported 43 grants totaling $1,124,281 in its FY2025 IRS filing. It funded between 40 and 50 organizations a year over FY2018 to FY2024.

Q: What does National Rural Utilities Cooperative Finance Corporation fund?

By grant dollars over FY2017 to FY2025, its largest causes are Environment (31%), Community Improvement (31%), Youth Development (16%).

Q: Who are National Rural Utilities Cooperative Finance Corporation's largest grantees?

By total granted over FY2017 to FY2025: National Rural Electric Cooperative Association ($1.8M), Texas Electric Cooperatives Inc ($462k), Missouri Electric Cooperatives Association of Mo Electric Cooperatives ($433k).

Q: Does National Rural Utilities Cooperative Finance Corporation fund new organizations?

In FY2024, 5% of the organizations it funded were first-time grantees.

Q: Where is National Rural Utilities Cooperative Finance Corporation based?

National Rural Utilities Cooperative Finance Corporation is based in VA.

To bridge the financial needs of the rural electric network with the expectations of the global capital markets, one cooperative at a time.

$1.1M

Granted FY2025still arriving

Grants FY2025still arriving

States reached

$155k

Largest

01What it funds

01100% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2017 to 2025.

Environment$3.8MCommunity Improvement$3.7MYouth Development$1.9MEducation$948kEmployment$927kMembership Benefit$313kPublic Benefit$299kFood & Nutrition$187kOther$0

02FY2025 · 43 grants

Where the money goes

Grants by size, and the largest recipients.

By grant size · FY2025

Under $10k3 grants · $20k
$10k–50k37 grants · $812k
$50k–250k3 grants · $290k

$22,250

Median grant

States reached

$38.3B

Total assets

Largest grants
Recipient	Amount
NRECA	$154,659
MI020 ALGER-DELTA CO-OPERATIVE ELECTRIC ASSOCIATION	$71,372
TEXAS ELECTRIC COOPERATIVES INC	$63,500
MISSOURI ELECTRIC COOPERATIVES	$37,750
INDIANA ELECTRIC COOPERATIVES	$35,750
GEORGIA ELECTRIC MEMBERSHIP CORPORATION	$33,250
IOWA ASSOCIATION OF ELECTRIC COOPERATIVES	$32,250
MINNESOTA RURAL ELECTRIC ASSOCIATION	$32,000
ASSOCIATION OF ILLINOIS ELECTRIC COOPERATIVES	$30,000
OHIO'S ELECTRIC COOPERATIVES	$26,750
WISCONSIN ELECTRIC COOPERATIVE ASSOCIATION	$26,750
PENNSYLVANIA RURAL ELECTRIC ASSOCIATION	$26,250
NORTHEAST ASSOCIATION OF ELECTRIC COOPERATIVES INC	$25,500
KANSAS ELECTRIC COOPERATIVES INC	$25,250
VA MD & DE ASSOCIATION OF ELECTRIC COOPERATIVES	$25,250

02The need

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Dollar for dollar, its grants (FY17–25) land where the poverty rate runs at 12%, against an area that typically sits at 10%. 68% of its dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

grant to an above-average-need area below average· circle size = grant amount

How this is measured

Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.

Which US states its grants reach

How this is measured

US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.

Where the work is directed

The same grants placed two ways: where each recipient sits, and where its stated purpose sends the money.

About 9% of National Rural Utilities Cooperative Finance Corporation’s grant dollars are earmarked for a different county than the recipient’s own address.

National Rural Utilities Cooperative Finance Corporationlessmore of its giving

Placed by recipient address

How this is measured

Recipient view: each grant at its grantee’s ZIP, mapped to a county. Directed view: each grant at the county its stated purpose names, falling back to the recipient’s county when the purpose names no place; US grants only. A county shows only if it carries the top 95% of that view’s dollars. Purposes are read from the funder’s own 990 grant descriptions.

03Its grantees

repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

86%of every dollar goes to organizations it has funded before.

$10M · 58 repeat orgs$1.7M to everyone else

Grantees it renews have grown median revenue +36% since the first grant, against +12% for those funded once.

58 repeat relationships: 42 still active in FY2025, 16 since wound down; 1 grantees were first funded in FY2025 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

Total granted

$10M

$1.6M

Median revenue growth · since first grant

+36%

+12%

Still filing today

91%

92%

New vs renewed · share of each year

In FY2025, 94% of grant dollars renewed an existing relationship; $71k went to new ones.

RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

Community ImprovementMembership BenefitHealthEmploymentOther

How this is measured

First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

NR
NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION
9× · 2017–2025 · $1.8M · revenue +17%
ME
MISSOURI ELECTRIC COOPERATIVES ASSOCIATION OF MO ELECTRIC COOPERATIVES
9× · 2017–2025 · $433k · revenue +23%
TE
TENNESSEE ELECTRIC COOPERATIVE ASSOC
9× · 2017–2025 · $294k · revenue +67%

Funded once

RG
RIO GRANDE ELECTRIC COOP INCgraduated
one grant, 2020 · $229k · revenue +43%
CV
CONCHO VALLEY ELECTRIC COOPERATIVE INC
one grant, 2023 · $150k · revenue +1%
SE
SAWNEE ELECTRIC MEMBERSHIP CORPORATION
one grant, 2023 · $150k · revenue +10%

How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

Central Electric Cooperative

Make electric energy available to our members at the lowest cost consistent with sound economy and good management.

—

Umatilla Electric Cooperative

Umatilla electric cooperative is a member-owned electric utility that sells energy and other services to improve the quality of life in its service communities.

—

South Central Power Company

South central power company exists to add value to the lives of our members by delivering safe and dependable service.

—

Southwest Mississippi Electric Power Association

Member owned electric cooperative.

—

Missoula Electric Cooperative Inc

Missoula Electric Cooperative, Inc. strives to uphold a commitment to service excellence, while delivering safe, affordable and reliable electricty to its members.

—

Ravalli County Electric Cooperative Inc

To provide electrical power and services to its members located in its service area

—

United Electric Cooperative Inc

Providing affordable electricity to members

Public Benefit

Kootenai Electric Cooperative Inc

Provide our member-owners dependable electric power and exceptional service at competitive rates.

—

Henry County Rural Electric Membership Corporation

Provide reliable, safe and cost-competitive electric service to enhance the lives of our members and the communities we serve.

—

San Luis Valley Rural Electric Cooperative Inc

Sales of Electric power to Members. We had 13,355 meters in place at the end of 2024.

—

Core Electric Cooperative

The following mission statement guides the cooperative in fulfilling its tax exempt purpose of providing quality and reliable electric service to our member-consumers: improving lives and communities through choice and innovation.

—

Vermont Electric Cooperative Inc

Vermont electric cooperative is a member owned not-for-profit whose mission is to provide safe, affordable, and reliable energy services to its members.

—

How this is measured

The grantee most central to the portfolio’s shape is Northwestern Electric Cooperative Inc; the most unlike its peers is Blood Cancer United Inc. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.

05the grantee network

77 grantees tracked through their own filings, 2017–2026.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2026, not grant rows in a single year, so this will not match the grant count on the cover. 77 of the 84 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

Load-bearing (≥25% of a budget)

Early backer (in before they grew)

77/77

Grantees still filing

72/77

Grew since first funded

Where the money sits, by cause and then by grantee

Other$11,852,152Community Improvement$151,900Membership Benefit$141,954Health$15,000Employment$7,100Philanthropy$5,000

Each grantee by its size and the funder’s share of it; top left is load-bearing

Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a set of overlaps that mostly run through this funder rather than between each other.

Cooperative Development FoundationDC13.5× affinity4 shared granteesties to 0 of 0Hover any node to trace its alignments.Compare side by side →

Open a dossier: Cooperative Development Foundation

How this is measured

Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization National Rural Utilities Cooperative Finance Corporation funds: left to right is the share of its income from government, bottom to top the share from National Rural Utilities Cooperative Finance Corporation. Bigger dots raise more.

2024

’20’21’22’23’24’25

no gov moneyreceives it· size = income

3get no government money at all

5report government grants on their 990 we could not trace to a source (not plotted)

0rely on government for over half their income

typical government reliance, FY20–25

How this is measured

Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.

Play a game based on National Rural Utilities Cooperative Finance’s filings →

More from the funding graph

The unnamed billions

grants reported with no recipient in the public record

The regranting layer

51% of grant dollars land in the regranting layer

The DAF merry-go-round

$9.7B circulates between donor-advised funds

The endowment market

who holds foundation money, and what just moved

The camps

funders cluster by geography, not ideology

By state

where grant money is based, and what stays home