Central Electric Cooperative Inc
- Assets
- $128.0m
- Revenue
- $50.3m
- Investments
- $0.0
- Employees
- 82
- Location
- Parker, PA
- Founding
- 02/1943
- Data as of
- 12/2023
- EIN
- 25-0397695
Organization Overview
Central Electric Cooperative Inc is located in Parker, PA. The organization was established in 1943. 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, Central Electric Cooperative Inc employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central 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, Central Electric Cooperative Inc generated $50.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $51.3m during the year ending 12/2023. While expenses have increased by 13.3% per year over the past 8 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
PROVISION OF ELECTRIC DISTRIBUTION SERVICE ON A COOPERATIVE BASIS TO MEMBERS IN RURAL PA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDSION OF ELECTRIC DISTRIBUTION SERVICE ON A COOPERATIVE BASIS TO MEMBERS IN RURAL PENNSYLVANIA. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER: 23,373,328 DISTRIBUTION MAINTENANCE & DISTRIBUTION OPERATION : 7,594,673 OTHER SALARIES AND WAGES: 6,265,687
PROVISION OF ELECTRIC DISTRIBUTION SERVICE ON A COOPERATIVE BASIS TO MEMBERS IN RURAL PENNSYLVANIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Boshaw Ceo/general | Officer | 40 | $272,146 |
Fred Terwilliger Assistant Gm | Officer | 40 | $195,784 |
Chester Conti CFO | Officer | 40 | $154,730 |
Lisa A Hoover Director Of | 40 | $154,058 | |
Christopher W Kossman Director Of | 40 | $147,019 | |
Terry A Kriebel Lineman | 40 | $136,437 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wright Tree Service Tree Trimming | 12/30/23 | $3,665,531 |
The Davey Tree Expert Company Tree Trimming | 12/30/23 | $1,401,665 |
Hazlett Tree Service Tree Trimming | 12/30/23 | $1,353,281 |
Thayer Power And Communication Construction | 12/30/23 | $1,184,175 |
O'connell Electric Co Inc Construction | 12/30/23 | $761,166 |
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 | $48,482,789 |
| Investment income | $472,181 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,229,543 |
| Net Gain/Loss on Asset Sales | $97,189 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,342,119 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $143,019 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,335,578 |
| Compensation of current officers, directors, key employees. | $956,451 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,265,687 |
| Pension plan accruals and contributions | $1,015,930 |
| Other employee benefits | $364,356 |
| Payroll taxes | $551,069 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,620 |
| 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 | $1,680,097 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,739 |
| Interest | $1,954,386 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,046,963 |
| Insurance | $0 |
| All other expenses | -$3,999,043 |
| Total functional expenses | $51,333,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,126,400 |
| Savings and temporary cash investments | $5,274,905 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,888,715 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,314,710 |
| Prepaid expenses and deferred charges | $600,994 |
| Net Land, buildings, and equipment | $95,114,932 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $17,689,979 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $128,010,635 |
| Accounts payable and accrued expenses | $4,169,307 |
| 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 | $63,750,266 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,179,530 |
| Total liabilities | $77,099,103 |
| 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 | $13,028,331 |
| Retained earnings, endowment, accumulated income, or other funds | $37,883,201 |
| Total liabilities and net assets/fund balances | $128,010,635 |
Grants Awarded
Over the last fiscal year, Central Electric Cooperative Inc has awarded $11,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PETROLEUM VALLEY YOUTH CENTER PURPOSE: GENERAL SUPPORT | $6,200 |
SUGARCREEK TOWNSHIP VOL FIRE COMPANY PURPOSE: GENERAL SUPPORT | $5,300 |