Paulding-Putnam Electric Cooperative Inc
- Assets
- $120.6m
- Revenue
- $48.0m
- Investments
- $24.8m
- Employees
- 49
- Location
- Paulding, OH
- Founding
- 06/1939
- Data as of
- 12/2022
- EIN
- 34-4325955
Organization Overview
Paulding-Putnam Electric Cooperative Inc is located in Paulding, OH. The organization was established in 1939. 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, Paulding-Putnam Electric Cooperative Inc employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paulding-Putnam 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, Paulding-Putnam Electric Cooperative Inc generated $48.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $48.0m during the year ending 12/2022. While expenses have increased by 2.6% per year over the past 8 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
DISTRIBUTE ELECTRICITY SAFELY, RELIABLY AND AFFORDABLY TO OUR MEMBERS/CONSUMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICAL ENERGY TO 13,490 CONSUMERS AT 13,841 SERVICE POINTS AND THE MAINTENANCE OF APPROXIMATELY 1,707 MILES OF OVERHEAD AND UNDERGROUND DISTRIBUTION LINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Carter CEO | Officer | 40 | $286,171 |
Steven Kahle Engineering | 40 | $163,635 | |
Heather Hunt Hr Manager | 40 | $133,577 | |
Timothy Bowley Operations M | 40 | $132,451 | |
Doug Johanns Senior Staki | 40 | $121,240 | |
Rob Weisenburger System Engin | 40 | $117,178 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Frankart Power Line Services Llc Line Rebuilds | 12/30/22 | $2,200,613 |
Mint City Utility Services Tree Trimming | 12/30/22 | $400,184 |
National Information Solutions Cooperative It Services | 12/30/22 | $255,239 |
Aunalytics Inc Software Prov. | 12/30/22 | $280,573 |
Osmose Utility Services Inc Pole Inspection | 12/30/22 | $269,577 |
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 | $45,965,082 |
| Investment income | $1,749,961 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $168,857 |
| 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 | $47,973,353 |
| 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 | $4,528,491 |
| Compensation of current officers, directors, key employees. | $165,256 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,074,602 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,457 |
| Payroll taxes | $192,723 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,011 |
| Fees for services: Accounting | $20,500 |
| 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 | $25,462 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,054,197 |
| Travel | $37,178 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $124,090 |
| Interest | $1,527,386 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,644,622 |
| Insurance | $36,349 |
| All other expenses | $1,476,611 |
| Total functional expenses | $47,973,353 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $811,300 |
| Savings and temporary cash investments | $482,421 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,917,721 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,622 |
| Inventories for sale or use | $1,006,240 |
| Prepaid expenses and deferred charges | $171,403 |
| Net Land, buildings, and equipment | $90,371,350 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,788,703 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,045 |
| Total assets | $120,578,805 |
| Accounts payable and accrued expenses | $6,068,989 |
| 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 | $39,843,708 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $172,125 |
| Total liabilities | $46,084,822 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $63,293 |
| Paid-in or capital surplus, or land, building, or equipment fund | $74,430,690 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $120,578,805 |