Darke Rural Electric Cooperative Inc
- Assets
- $42.7m
- Revenue
- $18.1m
- Investments
- $0.0
- Employees
- 21
- Location
- Greenville, OH
- Founding
- 10/1938
- Data as of
- 12/2022
- 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 12/2022, Darke Rural Electric Cooperative Inc employed 21 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 12/2022, Darke Rural Electric Cooperative Inc generated $18.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $18.1m during the year ending 12/2022. While expenses have increased by 3.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DARKE RURAL ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC COOPERATIVE, PROVIDING ELECTRIC SERVICE TO OVER 4,370 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 |
|---|---|---|---|
Tim Wombold Lineman | 44.4 | $110,801 | |
John Blinn Line Foreman | 47.5 | $132,869 | |
Ted Holsapple CEO | Officer | 46.5 | $161,536 |
Niles Swank Director Of Operations | 42 | $124,666 | |
Brad Flora CFO | Officer | 44.6 | $122,184 |
Michael Fenstermaker Lineman | 45.5 | $110,458 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fitzwater Tree & Lawn Care Tree Trimming | 12/30/22 | $447,550 |
Davis H Elliot Line Construction | 12/30/22 | $167,316 |
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 | $17,505,966 |
| Investment income | $17,276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $33,559 |
| 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 | $18,112,710 |
| 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 | $621,822 |
| Compensation of current officers, directors, key employees. | $923,332 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $882,432 |
| Pension plan accruals and contributions | $230,125 |
| Other employee benefits | $194,518 |
| Payroll taxes | $274,230 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,200 |
| Fees for services: Accounting | $24,236 |
| 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 | $60,400 |
| Information technology | $220,613 |
| 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 | $619,430 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,106,014 |
| Insurance | $0 |
| All other expenses | $505,007 |
| Total functional expenses | $18,112,710 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,000 |
| Savings and temporary cash investments | $680,689 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,336,572 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $564,788 |
| Prepaid expenses and deferred charges | $107,156 |
| Net Land, buildings, and equipment | $31,395,742 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $7,770,376 |
| Intangible assets | $0 |
| Other assets | $796,727 |
| Total assets | $42,662,050 |
| Accounts payable and accrued expenses | $2,129,954 |
| 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 | $21,921,786 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,051,740 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $43,820 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $18,566,490 |
| Total liabilities and net assets/fund balances | $42,662,050 |