Bascom Mutual Telephone Co
- Assets
- $19.2m
- Revenue
- $8.5m
- Investments
- $2.3m
- Employees
- 23
- Location
- Bascom, OH
- Founding
- 08/2014
- Data as of
- 12/2023
- EIN
- 34-4183110
Organization Overview
Bascom Mutual Telephone Co is located in Bascom, OH. The organization was established in 2014. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Bascom Mutual Telephone Co employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bascom Mutual Telephone 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 12/2023, Bascom Mutual Telephone Co generated $8.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 7.8% per year over the past 7 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
TO PROVIDE, MAINTAIN AND EXPAND REGULATED LOCAL TELEPHONE, CABLE TV AND HIGH-SPEED INTERNET SERVICES FOR THE BENEFIT OF THE MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE, MAINTAIN AND EXPAND REGULATED LOCAL TELEPHONE, CABLE TV AND HIGH-SPEED INTERNET SERVICES FOR THE BENEFIT OF THE MEMBERS OF THE COOPERATIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nate Brickner Key Employee | 40 | $127,992 | |
Laura Wise Asst. Treasurer | Officer | 40 | $77,406 |
Thomas Daniel President | OfficerTrustee | 0.8 | $560 |
Connie Coppus Secretary/treas | OfficerTrustee | 0.8 | $560 |
Joseph Smith Trustee | Trustee | 0.5 | $560 |
David Coppus Trustee | Trustee | 0.5 | $560 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,000,000 |
| 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 | $3,000,000 |
| Total Program Service Revenue | $5,078,694 |
| Investment income | $396,645 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $72,497 |
| 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 | $8,547,836 |
| 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 | $110,834 |
| Compensation of current officers, directors, key employees. | $210,038 |
| 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 | $18,418 |
| Fees for services: Accounting | $149,686 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $109,213 |
| Office expenses | $6,839 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,500 |
| 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 | $969,423 |
| Insurance | $0 |
| All other expenses | $826,798 |
| Total functional expenses | $5,183,839 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,337,817 |
| Savings and temporary cash investments | $1,948,128 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $234,714 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $373,459 |
| Prepaid expenses and deferred charges | $41,243 |
| Net Land, buildings, and equipment | $9,515,272 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,253,335 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $497,963 |
| Total assets | $19,201,931 |
| Accounts payable and accrued expenses | $1,343,274 |
| Grants payable | $0 |
| Deferred revenue | $3,000,000 |
| 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 | $4,343,274 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $48,580 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $14,810,077 |
| Total liabilities and net assets/fund balances | $19,201,931 |