Butler Rural Electric Coop Inc
- Assets
- $96.5m
- Revenue
- $36.5m
- Investments
- $0.0
- Employees
- 54
- Location
- Oxford, OH
- Founding
- 08/1938
- Data as of
- 12/2023
- EIN
- 31-0231070
Organization Overview
Butler Rural Electric Coop Inc is located in Oxford, OH. The organization was established in 1938. 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, Butler Rural Electric Coop Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Butler Rural Electric Coop 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, Butler Rural Electric Coop Inc generated $36.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $36.5m during the year ending 12/2023. While expenses have increased by 0.5% per year over the past 6 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
BUTLER RURAL ELECTRIC COOPERATIVE IS AN ELECTRIC DISTRIBUTION COOPERATIVE PROVIDING ELECTRIC SERVICES TO MEMBERS IN BUTLER HAMILTON PREBLE AND MONTGOMERY COUNTIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE IS AN INTEGRAL PART OF THE COMMUNITY PROVIDING ELECTRIC SERVICE TO THE THE MEMBERS IN BUTLER HAMILTON PREBLE AND MONTGOMERY COUNTINES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Wolfenbarger General Manager | Officer | 45 | $233,984 |
Julie Abbott Director Of Human Resources | 50 | $149,086 | |
Laura Smith Director Of Corporate And Member Services | 45 | $147,624 | |
Michael Murray Director Of Operations | 50 | $146,793 | |
Steven Abrams Lead Lineworker | 48 | $140,236 | |
Raymond Brunner Operations Construction Coordinator | 42 | $140,917 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nreca Insurance & Benefits | 12/30/23 | $2,395,122 |
The Davey Tree Expert Company Tree Trimming | 12/30/23 | $1,245,913 |
United Utility Supply Cooperative Material Supplier | 12/30/23 | $1,046,499 |
Niagara Power Transformer Corp Transformer Supplier | 12/30/23 | $389,863 |
National Information Solutions Software Provider | 12/30/23 | $266,569 |
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 | $35,390,150 |
| Investment income | $240,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $362,964 |
| Net Gain/Loss on Asset Sales | $2,231 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $127,010 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,467,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,795,104 |
| Compensation of current officers, directors, key employees. | $1,089,231 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,060,932 |
| Pension plan accruals and contributions | $461,868 |
| Other employee benefits | $854,650 |
| Payroll taxes | $299,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $111,551 |
| Fees for services: Accounting | $24,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $242,837 |
| Advertising and promotion | $238,280 |
| Office expenses | $288,206 |
| Information technology | $335,085 |
| Royalties | $0 |
| Occupancy | $1,604,581 |
| Travel | $78,819 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $159,274 |
| Interest | $1,584,272 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,830,961 |
| Insurance | $107,799 |
| All other expenses | $1,012,644 |
| Total functional expenses | $36,467,194 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $489,634 |
| Savings and temporary cash investments | $3,061,538 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,983,427 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $841,827 |
| Prepaid expenses and deferred charges | $292,657 |
| Net Land, buildings, and equipment | $69,909,679 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $15,097,836 |
| Intangible assets | $2,382,871 |
| Other assets | $402,974 |
| Total assets | $96,462,443 |
| Accounts payable and accrued expenses | $4,335,898 |
| 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 | $48,468,038 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,101,147 |
| Total liabilities | $53,905,083 |
| 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 | $120,690 |
| Retained earnings, endowment, accumulated income, or other funds | $42,436,670 |
| Total liabilities and net assets/fund balances | $96,462,443 |