Illinois Electric Cooperative
- Assets
- $152.8m
- Revenue
- $44.3m
- Investments
- $331.2k
- Employees
- 64
- Location
- Winchester, IL
- Founding
- 12/1937
- Data as of
- 12/2023
- EIN
- 37-0345145
Organization Overview
Illinois Electric Cooperative is located in Winchester, IL. 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 12/2023, Illinois Electric Cooperative employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Electric Cooperative 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, Illinois Electric Cooperative generated $44.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $42.3m during the year ending 12/2023. While expenses have increased by 4.0% per year over the past 9 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
DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR MEMBERS THROUGH DEPENDABILITY AND INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE PROVIDED 194,530,000 KILOWATT HOURS OF ELECTRICITY TO APPROXIMATELY 10,200 RURAL ACCOUNTS IN ALL OR PART OF TEN COUNTIES IN THE STATE OF ILLINOIS AND WILL CONTINUE THIS IN THE FUTURE.
WE PROVIDED INTERNET SERVICES TO APPROXIMATELY 6,250 CONSUMERS IN ALL OR PART OF TEN COUNTIES IN THE STATE OF ILLINOIS.
IN 2015 WE BEGAN OFFERING INTERNET AND PHONE THROUGH OUR NEWLY CONSTRUCTED FIBER INFRASTRUCTURE IN THE TOWNS OF WINCHESTER AND BLUFFS, SERVING 700 CONSUMERS. WE HAVE EXPANDED THIS SERVICE IN TO CALHOUN COUNTY SERVING AN ADDITIONAL 1,000 CONSUMERS. WE EXPECT OUR PHONE AND INTERNET PROGRAM TO CONTINUE GROWING IN THE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas D Meehan III President | OfficerTrustee | 12.3 | $18,700 |
Julia Eberlin Vice-President | OfficerTrustee | 4.6 | $9,250 |
Jim Freeman Treasurer | OfficerTrustee | 2.6 | $8,000 |
Kevin Brannan Secretary | OfficerTrustee | 6.9 | $10,500 |
Luke Fraley Assistant Treasurer | OfficerTrustee | 1.2 | $5,200 |
Julie Rhoads Assistant Secretary | OfficerTrustee | 4.6 | $5,900 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ervin Cable Construction Llc Fiber Contractor | 12/30/23 | $781,891 |
Wiemelt Plumbing & Excavating Inc Fiber Contractor | 12/30/23 | $2,475,991 |
Gound Outdoor Management Inc Row Tree Trimming And Spraying | 12/30/23 | $408,227 |
Scobee Powerline Construction Llc Electric Line Contractor | 12/30/23 | $382,082 |
Vantagepoint Engineering Contractor | 12/30/23 | $302,316 |
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 | $42,738,948 |
| Investment income | $204,222 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $180,529 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,327,895 |
| 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 | $2,358,837 |
| Compensation of current officers, directors, key employees. | $613,086 |
| 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 | $3,214,254 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,741,758 |
| Insurance | $0 |
| All other expenses | $2,728,153 |
| Total functional expenses | $42,334,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $594,141 |
| Savings and temporary cash investments | $2,507,077 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,066,467 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $741,903 |
| Inventories for sale or use | $3,104,156 |
| Prepaid expenses and deferred charges | $283,876 |
| Net Land, buildings, and equipment | $123,349,072 |
| Investments—publicly traded securities | $2,518,292 |
| Investments—other securities | $331,233 |
| Investments—program-related | $14,055,294 |
| Intangible assets | $9,169 |
| Other assets | $3,235,359 |
| Total assets | $152,796,039 |
| Accounts payable and accrued expenses | $3,165,793 |
| 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 | $83,366,312 |
| Unsecured mortgages and notes payable | $4,006,899 |
| Other liabilities | $3,509,431 |
| Total liabilities | $94,048,435 |
| 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 | $58,747,604 |
| Total liabilities and net assets/fund balances | $152,796,039 |