North Central Electric Cooperative Inc
- Assets
- $77.7m
- Revenue
- $30.2m
- Investments
- $13.6m
- Employees
- 41
- Location
- Attica, OH
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 34-4316639
Organization Overview
North Central Electric Cooperative Inc is located in Attica, OH. The organization was established in 1937. 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, North Central Electric Cooperative Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Central 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, North Central Electric Cooperative Inc generated $30.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $28.2m during the year ending 12/2022. While expenses have increased by 3.7% per year over the past 4 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
TO PROVIDE ELECTRICITY AND RELATED SERVICES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICITY AND RELATED SERVICES TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Bishop Secretary | OfficerTrustee | 3.88 | $11,375 |
Andrew Brose Director | Trustee | 1.37 | $4,600 |
Ronald Frisch Director | Trustee | 2.94 | $8,450 |
David Green Director | Trustee | 1.63 | $7,250 |
Michael Scherger Vice Chair | OfficerTrustee | 3.15 | $11,150 |
Dennis Schindler Director | Trustee | 5.42 | $11,825 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spencer's Tree & Landscape Tree Services | 12/30/22 | $308,342 |
Buckeye Boring And Excavating Llc Boring Services | 12/30/22 | $225,916 |
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 | $30,208,960 |
| Investment income | $36,264 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $30,230,060 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| 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 | $1,285,152 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,781,345 |
| Insurance | $0 |
| All other expenses | $1,513,993 |
| Total functional expenses | $28,163,765 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $363,611 |
| Savings and temporary cash investments | $53,195 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,874,937 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,413 |
| Inventories for sale or use | $1,013,203 |
| Prepaid expenses and deferred charges | $360,999 |
| Net Land, buildings, and equipment | $59,412,013 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,610,401 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $77,695,772 |
| Accounts payable and accrued expenses | $7,332,700 |
| 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 | $33,142,334 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,876,935 |
| Total liabilities | $43,351,969 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $80,980 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $34,262,823 |
| Total liabilities and net assets/fund balances | $77,695,772 |