Oneida-Madison Electric Cooperative Inc
- Assets
- $6.8m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Bouckville, NY
- Founding
- 10/1964
- Data as of
- 12/2023
- EIN
- 15-0405592
Organization Overview
Oneida-Madison Electric Cooperative Inc is located in Bouckville, NY. The organization was established in 1964. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Oneida-Madison Electric Cooperative Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oneida-Madison Electric Cooperative Inc 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 12/2023, Oneida-Madison Electric Cooperative Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $3.3m during the year ending 12/2023. While expenses have increased by 2.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE AIM OF ONEIDA-MADISON ELECTRIC COOPERATIVE, INC. IS TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 2141 ELECTRIC SERVICES TO 1766 MEMBERS OVER 264.19 MILES OF DISTRIBUTION LINE.ELECTRIC SERVICE WAS PROVIDED ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL TO ALL CUSTOMERS PURCHASING ELECTRIC SERVICE FROM THE COOPERATIVE DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Bell CEO | Officer | 42.89 | $123,400 |
Barry Tallman Jr Line Foreman | 40 | $104,604 | |
Rudy Brouillette President | OfficerTrustee | 7.24 | $12,712 |
Daniel Saulsgiver Sec - Treasurer | OfficerTrustee | 4.29 | $10,962 |
Thomas Stone Vice President | OfficerTrustee | 1.47 | $3,960 |
James Nassimos Director | Trustee | 1.22 | $3,960 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,266,105 |
| Investment income | $18,860 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,557 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,299,294 |
| 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 | $288,166 |
| Compensation of current officers, directors, key employees. | $214,533 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $428,241 |
| Pension plan accruals and contributions | $98,490 |
| Other employee benefits | $73,217 |
| Payroll taxes | $43,490 |
| 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 | $112,344 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $261,380 |
| Insurance | $0 |
| All other expenses | $63,317 |
| Total functional expenses | $3,299,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $179,296 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $496,007 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $164,629 |
| Prepaid expenses and deferred charges | $76,220 |
| Net Land, buildings, and equipment | $5,590,535 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $322,331 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,829,018 |
| Accounts payable and accrued expenses | $170,846 |
| Grants payable | $0 |
| Deferred revenue | $49,358 |
| 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 | $2,588,901 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $499,490 |
| Total liabilities | $3,308,595 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $14,555 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,505,868 |
| Total liabilities and net assets/fund balances | $6,829,018 |