Eastern Illini Electric Cooperative Inc
- Assets
- $94.1m
- Revenue
- $39.4m
- Investments
- $20.6m
- Employees
- 67
- Location
- Paxton, IL
- Founding
- 11/1988
- Data as of
- 12/2022
- EIN
- 36-3526205
Organization Overview
Eastern Illini Electric Cooperative Inc is located in Paxton, IL. The organization was established in 1988. 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, Eastern Illini Electric Cooperative Inc employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Eastern Illini 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, Eastern Illini Electric Cooperative Inc generated $39.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $36.6m during the year ending 12/2022. While expenses have increased by 0.4% 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
SALE AND DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRIC ENERGY TO COOPERATIVE MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Schlatter Director | Trustee | 3.01 | $5,616 |
Kevin Moore Board Chairman | OfficerTrustee | 3.6 | $8,416 |
Brad Ludwig Director | Trustee | 3.97 | $7,716 |
Steve Meenen Secretary/treasurer | OfficerTrustee | 3.74 | $7,366 |
Steve Gordon Director | Trustee | 4.54 | $9,816 |
Chad Larimore Assistant Secretary/treasurer | OfficerTrustee | 4.35 | $8,766 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gound Tree Service Tree Trimming | 12/30/16 | $508,820 |
Lee Inspection And Consulting Service Utility Inspections | 12/30/16 | $124,957 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,257,569 |
| 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 | $1,257,569 |
| Total Program Service Revenue | $36,524,581 |
| Investment income | $110,344 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,539 |
| 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 | $3,407 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,420,065 |
| 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 | $1,021,792 |
| Compensation of current officers, directors, key employees. | $706,339 |
| Compensation of current officers, directors, key employees. | $706,339 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $709,842 |
| 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 | $140,953 |
| Advertising and promotion | $0 |
| Office expenses | $166,954 |
| 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 | $48,881 |
| Interest | $1,364,012 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,366,392 |
| Insurance | $187,520 |
| All other expenses | $1,111,324 |
| Total functional expenses | $36,608,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $682,264 |
| Savings and temporary cash investments | $794,316 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,580,659 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $33,570 |
| Inventories for sale or use | $1,661,707 |
| Prepaid expenses and deferred charges | $106,959 |
| Net Land, buildings, and equipment | $66,897,087 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $20,612,181 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $695,125 |
| Total assets | $94,063,868 |
| Accounts payable and accrued expenses | $3,668,519 |
| 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 | $32,929,334 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,957,674 |
| Total liabilities | $41,555,527 |
| 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 | $52,508,341 |
| Total liabilities and net assets/fund balances | $94,063,868 |