Mcdonough Power Cooperative Inc
- Assets
- $36.3m
- Revenue
- $12.8m
- Investments
- $0.0
- Employees
- 17
- Location
- Macomb, IL
- Founding
- 01/1940
- Data as of
- 12/2023
- 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 12/2023, Mcdonough Power Cooperative Inc employed 17 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 12/2023, Mcdonough Power Cooperative Inc generated $12.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $12.8m during the year ending 12/2023. While expenses have increased by 2.4% 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
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 & CEO | Officer | 40 | $176,825 |
Doug Bear Line Superintendent | 40 | $117,263 | |
Jamison Holthaus Crew Foreman | 44 | $118,704 | |
Tracy Camden CFO | Officer | 40 | $128,108 |
Joseph Wernsman Journeyman Lineman | 45 | $121,526 | |
Clay Wiemerslage Journeyman Lineman | 46 | $125,918 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sellenriek Energy Line Construction | 12/30/23 | $801,192 |
Spoon River Electric Cooperative Tree Trimming | 12/30/23 | $318,243 |
Meridian Cooperative Inc Software | 12/30/23 | $143,981 |
Tharp Brothers Boring | 12/30/23 | $130,114 |
Association Of Illinois Electric Co Service Organizati | 12/30/23 | $114,487 |
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 | $12,742,530 |
| Investment income | $19,085 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,504 |
| 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 | $12,806,237 |
| 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 | $834,114 |
| Compensation of current officers, directors, key employees. | $486,913 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $672,506 |
| 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 | $782,598 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,247,944 |
| Insurance | $0 |
| All other expenses | $58,414 |
| Total functional expenses | $12,806,237 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $525 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,077,107 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $296,261 |
| Prepaid expenses and deferred charges | $58,115 |
| Net Land, buildings, and equipment | $28,173,466 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,630,666 |
| Intangible assets | $0 |
| Other assets | $29,388 |
| Total assets | $36,265,528 |
| Accounts payable and accrued expenses | $1,487,579 |
| Grants payable | $0 |
| Deferred revenue | $155,950 |
| 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 | $18,482,271 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $20,125,800 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $95,012 |
| Paid-in or capital surplus, or land, building, or equipment fund | $802,664 |
| Retained earnings, endowment, accumulated income, or other funds | $15,242,052 |
| Total liabilities and net assets/fund balances | $36,265,528 |