Mcdonough Power Cooperative Inc
- Assets
- $32.3m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Macomb, IL
- Founding
- 01/1940
- Data as of
- 12/2021
- EIN
- 37-0408325
Organization Overview
Mcdonough Power Cooperative Inc is located in Macomb, IL. The organization was established in 1940. 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 12/2021, Mcdonough Power Cooperative Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mcdonough Power 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 12/2021, Mcdonough Power Cooperative Inc generated $12.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $12.2m during the year ending 12/2021. While expenses have increased by 2.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MCDONOUGH POWER COOPERATIVE IS A MEMBER-OWNED AND LOCALLY CONTROLLED COOPERATIVE BUSINESS WHOSE MISSION IS TO PROVIDE HIGH QUALITY ELECTRIC AND RELATED SERVICES IN A SAFE, RELIABLE AND FINANCIALLY RESPONSIBLE MANNER FOR THE BETTERMENT OF THE MEMBERSHIP AND THE AREA IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MCDONOUGH POWER COOPERATIVE SUPPLIES ELECTRIC POWER TO MEMBERS IN PORTIONS OF FULTON, HANCOCK, HENDERSON, KNOX, MCDONOUGH, SCHUYLER AND WARREN COUNTIES IN WEST-CENTRAL ILLINOIS. MORE THAN 5,000 HOUSEHOLDS AND BUSINESSES RECEIVE POWER FROM MCDONOUGH POWER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert M Smith President & | Officer | 40 | $164,617 |
Scott Traser CFO | Officer | 40 | $114,165 |
Clay Wiemerslage Journeyman L | 43 | $111,122 | |
Doug Bear Line Superin | 40 | $109,535 | |
Joseph Wernsman Journeyman L | 45 | $108,367 | |
Brandon Cousins Journeyman L | 43 | $104,588 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prarie Power Inc Power Bills | 12/30/21 | $6,100,045 |
Nreca Insurance & Ben | 12/30/21 | $585,034 |
Spoon River Electric Cooperative Right-of-way Cl | 12/30/21 | $320,539 |
United Utility Supply Materials | 12/30/21 | $250,086 |
Croft Electrical Contractors Electrical Cont | 12/30/21 | $294,754 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $396,517 |
| 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 | $396,517 |
| Total Program Service Revenue | $11,689,751 |
| Investment income | $17,548 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $11,177 |
| Net Gain/Loss on Asset Sales | $69,400 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,220,126 |
| 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 | $1,320,822 |
| Compensation of current officers, directors, key employees. | $518,709 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $667,546 |
| 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 | $633,601 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,131,441 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,220,126 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,854 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $977,637 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $190,704 |
| Prepaid expenses and deferred charges | $181,362 |
| Net Land, buildings, and equipment | $24,406,506 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,214,711 |
| Intangible assets | $0 |
| Other assets | $31,463 |
| Total assets | $32,292,237 |
| Accounts payable and accrued expenses | $1,374,642 |
| Grants payable | $0 |
| Deferred revenue | $19,806 |
| 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 | $15,454,164 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $153,634 |
| Total liabilities | $17,002,246 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $114,025 |
| Paid-in or capital surplus, or land, building, or equipment fund | $673,807 |
| Retained earnings, endowment, accumulated income, or other funds | $14,502,159 |
| Total liabilities and net assets/fund balances | $32,292,237 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Shelby Energy Cooperative Inc Shelbyville, KY | $128,023,912 | $48,869,118 |
Tri-County Electric Cooperative Mount Vernon, IL | $133,948,921 | $48,522,537 |
Cumberland Valley Electric Co-Op Corp Gray, KY | $124,042,321 | $47,250,559 |
Kosciusko Rural Electric Membership Corporation Warsaw, IN | $103,207,559 | $50,256,556 |
Carroll White Remc Monticello, IN | $77,626,690 | $46,434,460 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |
Rushshelby Energy Rural Electric Cooperative Inc Manilla, IN | $101,755,271 | $47,128,138 |
Utilities District Of Western Ind Rural Electric Membership Corp Bloomfield, IN | $108,840,667 | $45,748,725 |
Bartholomew County Rural Electric Membership Corporation Columbus, IN | $73,524,777 | $45,185,369 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |
Semo Electric Cooperative Sikeston, MO | $155,297,219 | $43,598,236 |