Darke Rural Electric Cooperative Inc
- Assets
- $41.2m
- Revenue
- $16.4m
- Investments
- $0.0
- Employees
- 19
- Location
- Greenville, OH
- Founding
- 10/1938
- Data as of
- 12/2021
- EIN
- 34-4215670
Organization Overview
Darke Rural Electric Cooperative Inc is located in Greenville, 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 12/2021, Darke Rural Electric Cooperative Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Darke Rural 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 12/2021, Darke Rural Electric Cooperative Inc generated $16.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $16.4m during the year ending 12/2021. While expenses have increased by 1.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DARKE RURAL ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC COOPERATIVE, PROVIDING ELECTRIC SERVICE TO OVER 4,300 MEMBERS IN DARKE, PREBLE AND MERCER COUNTIES IN OHIO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SAFE, AFFORDABLE AND RELIABLE ELECTRIC TO THE RURAL AREAS OF DARKE AND PREBLE COUNTIES IN OHIO
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ted Holsapple CEO | Officer | 45.6 | $151,354 |
Niles Swank Director Of Operations | 41.3 | $118,939 | |
Brad Flora CFO | Officer | 43.7 | $115,027 |
Tyler Goettemoeller Lineman | 44.4 | $110,084 | |
John Blinn Line Foreman | 43.7 | $110,049 | |
Bruce Burke Director Of Engineering/it | 48.2 | $102,035 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fitzwater Tree & Lawn Care Tree Trimming | 12/30/21 | $356,973 |
Vaughn Industries Line Construction | 12/30/21 | $318,257 |
Pioneer Rural Electric It And Safety Support | 12/30/21 | $108,595 |
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 | $15,950,990 |
| Investment income | $15,722 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,217 |
| 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 | $16,435,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $731,943 |
| Compensation of current officers, directors, key employees. | $743,858 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $847,738 |
| Pension plan accruals and contributions | $500,000 |
| Other employee benefits | $357,581 |
| Payroll taxes | $238,917 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,900 |
| Fees for services: Accounting | $22,700 |
| 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 | $66,823 |
| Information technology | $225,966 |
| 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 | $520,165 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $124,002 |
| Insurance | $0 |
| All other expenses | $158,336 |
| Total functional expenses | $16,435,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,000 |
| Savings and temporary cash investments | $456,951 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,165,183 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $421,017 |
| Prepaid expenses and deferred charges | $99,264 |
| Net Land, buildings, and equipment | $30,541,764 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,791,417 |
| Intangible assets | $0 |
| Other assets | $733,911 |
| Total assets | $41,219,507 |
| Accounts payable and accrued expenses | $5,184,546 |
| 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 | $19,285,375 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,469,921 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $43,760 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $16,705,826 |
| Total liabilities and net assets/fund balances | $41,219,507 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shelby Energy Cooperative Inc Shelbyville, KY | $128,023,912 | $48,869,118 |
Cumberland Valley Electric Co-Op Corp Gray, KY | $124,042,321 | $47,250,559 |
Kosciusko Rural Electric Membership Corporation Warsaw, IN | $103,207,559 | $50,256,556 |
Carroll White Remc Monticello, IN | $77,626,690 | $46,434,460 |
Rushshelby Energy Rural Electric Cooperative Inc Manilla, IN | $101,755,271 | $47,128,138 |
Utilities District Of Western Ind Rural Electric Membership Corp Bloomfield, IN | $108,840,667 | $45,748,725 |
Paulding-Putnam Electric Cooperative Inc Paulding, OH | $113,731,744 | $45,501,402 |
Hancock-Wood Electric Cooperative North Baltimore, OH | $133,031,141 | $50,854,119 |
Bartholomew County Rural Electric Membership Corporation Columbus, IN | $73,524,777 | $45,185,369 |
Buckeye Rural Electric Co-Op Inc Rio Grande, OH | $133,098,121 | $42,883,645 |
Southern Indiana Power Tell City, IN | $70,453,737 | $39,497,094 |
Lorain-Medina Rural Electric Coop Inc Wellington, OH | $103,003,393 | $43,488,454 |