Isle Au Haut Electric Power Co
- Assets
- $507.7k
- Revenue
- $166.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Isle au Haut, ME
- Founding
- Data as of
- 12/2021
- EIN
- 01-0311701
Organization Overview
Isle Au Haut Electric Power Co is located in Isle au Haut, ME. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Isle Au Haut Electric Power Co employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Isle Au Haut Electric Power Co is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Isle Au Haut Electric Power Co generated $166.6k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $136.3k during the year ending 12/2021. While expenses have increased by 1.2% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF ELECTRIC POWER SERVICES AT LOWEST POSSIBLE COST TO RESIDENTS OF ISLE AU HAUT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRICAL SERVICES AT LOWEST POSSIBLE COST TO RESIDENTS OF ISLE AU HAUT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Nicholas Filler Vice President | OfficerTrustee | 5 | $0 |
Sam Chamberlin Secretary | OfficerTrustee | 1 | $0 |
George Cogan Vice President | OfficerTrustee | 5 | $0 |
William Chamberlin President | OfficerTrustee | 5 | $0 |
Dana Perry Treasurer | OfficerTrustee | 2 | $0 |
James Wilson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,118 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $58,418 |
| Total Program Service Revenue | $10,731 |
| Investment income | $8 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $96,847 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $166,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $36,342 |
| Compensation of current officers, directors, key employees. | $36,342 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,550 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,257 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,083 |
| Fees for services: Accounting | $7,894 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,525 |
| Advertising and promotion | $0 |
| Office expenses | $4,413 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,102 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,817 |
| Insurance | $4,984 |
| All other expenses | $302 |
| Total functional expenses | $136,318 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,561 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,593 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,677 |
| Net Land, buildings, and equipment | $142,146 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $284,761 |
| Total assets | $507,738 |
| Accounts payable and accrued expenses | $7,490 |
| Grants payable | $0 |
| Deferred revenue | $27,092 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $22,500 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $6,000 |
| Other liabilities | $45,199 |
| Total liabilities | $108,281 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,989 |
| Retained earnings, endowment, accumulated income, or other funds | $397,468 |
| Total liabilities and net assets/fund balances | $507,738 |