Menard Electric Cooperative
- Assets
- $75.6m
- Revenue
- $31.4m
- Investments
- $0.0
- Employees
- 42
- Location
- Petersburg, IL
- Founding
- 06/1938
- Data as of
- 12/2021
- EIN
- 37-0413095
Organization Overview
Menard Electric Cooperative is located in Petersburg, IL. The organization was established in 1938. 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, Menard Electric Cooperative employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Menard 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 12/2021, Menard Electric Cooperative generated $31.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $31.4m during the year ending 12/2021. While expenses have increased by 1.4% 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
TO PROVIDE HIGH QUALITY ELECTRIC SERVICE AT A REASONABLE COST
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICES TO OVER 11,000 MEMBERS IN 8 COUNTIES IN CENTRAL ILLINOIS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alisha Anker General Mana | Officer | 40 | $212,045 |
Robert Hanner Area Service | 48 | $133,866 | |
Patricia Michaels Dir Of Membe | 40 | $130,662 | |
Christopher Hinton Mgr Of Acctg | Officer | 40 | $129,323 |
Brandon Blair Crew Leader | 48 | $127,746 | |
Jeremy Willis Leadman | 47 | $122,968 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The L E Myers Company Line Build | 12/30/21 | $778,512 |
Wright Tree Service Tree Trimming | 12/30/21 | $1,003,839 |
P H Broughton & Sons Inc Grading/excavat | 12/30/21 | $316,420 |
Spoon River Electric Coop Tree Trimming | 12/30/21 | $835,645 |
Prairie Power Inc Line Build | 12/30/21 | $159,596 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $806,267 |
| 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 | $806,267 |
| Total Program Service Revenue | $30,501,670 |
| Investment income | $45,603 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,911 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,370,231 |
| 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 | $2,782,379 |
| Compensation of current officers, directors, key employees. | $664,584 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $41,726 |
| Other salaries and wages | $953,391 |
| 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 | $1,206,598 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,382,932 |
| Insurance | $0 |
| All other expenses | $15,848 |
| Total functional expenses | $31,370,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,154 |
| Savings and temporary cash investments | $713,786 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,475,540 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $726,425 |
| Prepaid expenses and deferred charges | $222,228 |
| Net Land, buildings, and equipment | $56,137,183 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $15,356,682 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $75,632,998 |
| Accounts payable and accrued expenses | $3,962,145 |
| Grants payable | $0 |
| Deferred revenue | $781,420 |
| 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 | $35,021,388 |
| Unsecured mortgages and notes payable | $2,591,887 |
| Other liabilities | $829,582 |
| Total liabilities | $43,186,422 |
| 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 | $3,302,506 |
| Retained earnings, endowment, accumulated income, or other funds | $29,144,070 |
| Total liabilities and net assets/fund balances | $75,632,998 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Menard Electric Cooperative has recieved totaling $9,308.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $9,308 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northeastern Rural Electric Membership Corporation Columbia City, IN | $154,005,839 | $126,158,719 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |
South Central Indiana Rural Electric Membership Corporation Martinsville, IN | $273,130,010 | $92,514,436 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
West Kentucky Rural Electric Cooperative Corporation Mayfield, KY | $175,044,197 | $94,020,746 |
Southeastern Illinois Electric Carrier Mills, IL | $211,832,578 | $85,978,289 |
Corn Belt Electric Cooperative Inc Bloomington, IL | $225,280,163 | $84,317,914 |
Nolin Rural Electric Cooperative Corporation Elizabethtown, KY | $169,060,241 | $80,995,142 |