Lake Region Electric Cooperative Foundation Inc
- Assets
- $263.5k
- Revenue
- $85.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Hulbert, OK
- Founding
- 08/2007
- Data as of
- 12/2021
- EIN
- 11-3793478
Organization Overview
Lake Region Electric Cooperative Foundation Inc is located in Hulbert, OK. The organization was established in 2007. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Region Electric Cooperative Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Lake Region Electric Cooperative Foundation Inc generated $85.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $67.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Lake Region Electric Cooperative Foundation Inc has awarded 24 individual grants totaling $198,922. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION OF CHARITABLE DONATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION RECEIVES FUNDS FROM THE MEMBERSHIP OF LAKE REGION ELECTRIC COOPERATIVE. THE ORGANIZATION DIRECTS THESE FUNDS FOR CHARITABLE PURPOSES AT THE DISCRETION OF THE BOARD WITHIN THE SERVICE AREA OF LAKE REGION ELECTRIC COOPERATIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jimmy Hall President | OfficerTrustee | 1 | $0 |
Stanley Young Secretary/tr | OfficerTrustee | 1 | $0 |
Sandy Campbell Vice Preside | OfficerTrustee | 1 | $0 |
Hamid Vahdatipour Principal Of | Officer | 1 | $0 |
Elaine Henderson Director | Trustee | 1 | $0 |
John Rogers Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $84,866 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $84,866 |
| Total Program Service Revenue | $0 |
| Investment income | $631 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,497 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,292 |
| Grants and other assistance to domestic individuals. | $2,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $67,792 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,487 |
| Savings and temporary cash investments | $117,900 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,134 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $263,521 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $263,521 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $263,521 |
Grants Awarded
Over the last fiscal year, Lake Region Electric Cooperative Foundation Inc has awarded $31,790 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
LOWREY PUBLIC SCHOOL PURPOSE: EDUCATION | $10,000 |
Wagoner, OK PURPOSE: EDUCATION | $10,000 |
Muskogee, OK PURPOSE: DP IMAGINATION PROG | $6,000 |
HULBERT PUBLIC SCHOOLS PURPOSE: BAND INSTRUMENTS | $5,790 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Livestrong Foundation Austin, TX | $32,201,486 | $2,234,840 |
Peopleforbikes Foundation Boulder, CO | $3,836,789 | $4,747,548 |
Olathe Health System Inc Olathe, KS | $604,759,622 | $8,223,691 |
Adopt A Platoon San Benito, TX | $2,311,218 | $7,326,430 |
Coxhealth Foundation Springfield, MO | $33,244,463 | $11,374,415 |
Colorado Springs Health Foundation Colorado Springs, CO | $192,761,783 | $20,158,263 |
Bass Pro Shops & Cabelas Outdoor Fund Springfield, MO | $14,575,213 | $9,618,697 |
Community Clinics At Mrh Craig, CO | $2,546,314 | $4,871,469 |
Love Family Affiliated Fund Of The Oklahoma City Community Foundation Oklahoma City, OK | $15,024,266 | $3,226,115 |
Cnm Ingenuity Incoproration Albuquerque, NM | $23,986,328 | $5,524,320 |
The Summit Foundation Breckenridge, CO | $22,333,564 | $6,446,939 |
Delta Dental Plan Of Colorado Foundation Inc Centennial, CO | $49,407,538 | $7,354,088 |