Midwest Electric Inc
- Assets
- $73.0m
- Revenue
- $36.5m
- Investments
- $0.0
- Employees
- 30
- Location
- St Marys, OH
- Founding
- 07/1942
- Data as of
- 12/2023
- EIN
- 34-4304217
Organization Overview
Midwest Electric Inc is located in St Marys, OH. The organization was established in 1942. 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, Midwest Electric Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midwest Electric 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, Midwest Electric 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 1.5% each year. All expenses for the organization totaled $34.2m during the year ending 12/2023. While expenses have increased by 2.4% 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
PURCHASE ELECTRIC POWER AS A MEMBER-OWNED ELECTRIC COOPERATIVE AND EFFECTIVELY DELIVER THAT POWER TO OUR MEMBERS WHO ARE LOCATED THROUGHOUT RURAL WEST-CENTRAL OHIO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COOPERATIVE PROVIDING ELECTRICITY TO RURAL CUSTOMERS ON A NON-PROFIT BASIS TO OVER 11,000 METERS AND ENSURING EFFECTIVE DELIVERY OF THE SAME. ALL OF THE METERS ARE LOCATED IN RURAL WEST-CENTRAL OHIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Berry Ceo Assistant Se | Officer | 45 | $224,555 |
Kevin Schmidt Mgr Fin & Cu | Officer | 45 | $149,678 |
Paul Rogers Mgr Engineer | Officer | 45 | $167,664 |
Kecia Schmerge Member Ser S | 45 | $121,292 | |
Julie Marchal Mgr Admin Sv | 43 | $119,325 | |
Andrew Roettinger Lineman Firs | 44 | $116,386 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fitzwater Outdoor Maintenance Tree Trimming | 12/30/23 | $320,771 |
National Info Solutions Corp Computer Supp | 12/30/23 | $228,979 |
Aunalytics Inc Computer Suppor | 12/30/23 | $215,230 |
Lost Time Control West Inspections | 12/30/23 | $195,072 |
Tantalus Systems Inc Meter Support | 12/30/23 | $128,466 |
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 | $34,920,078 |
| Investment income | $90,804 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $115,992 |
| Net Gain/Loss on Asset Sales | $2,956 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $47 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,508,490 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $26,735 |
| Grants and other assistance to domestic individuals. | $65,328 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,940,214 |
| Compensation of current officers, directors, key employees. | $904,242 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,592,458 |
| Pension plan accruals and contributions | $479,931 |
| Other employee benefits | $588,681 |
| Payroll taxes | $233,274 |
| Fees for services: Management | $85,358 |
| Fees for services: Legal | $27,183 |
| Fees for services: Accounting | $19,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,216,390 |
| Advertising and promotion | $147,260 |
| Office expenses | $139,240 |
| Information technology | $417,706 |
| Royalties | $0 |
| Occupancy | $57,690 |
| Travel | $34,665 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $159,759 |
| Interest | $906,740 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,978,389 |
| Insurance | $80,400 |
| All other expenses | $0 |
| Total functional expenses | $34,228,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,657,785 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,964,722 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $896,967 |
| Inventories for sale or use | $803,889 |
| Prepaid expenses and deferred charges | $341,307 |
| Net Land, buildings, and equipment | $46,425,135 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $379,161 |
| Other assets | $19,525,449 |
| Total assets | $72,994,415 |
| Accounts payable and accrued expenses | $3,601,655 |
| 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 | $32,547,633 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,620,851 |
| Total liabilities | $38,770,139 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $34,224,276 |
| Total liabilities and net assets/fund balances | $72,994,415 |