Menard Electric Cooperative
- Assets
- $86.5m
- Revenue
- $35.3m
- Investments
- $0.0
- Employees
- 41
- Location
- Petersburg, IL
- Founding
- 06/1938
- Data as of
- 12/2023
- 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 12/2023, Menard Electric Cooperative employed 41 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 12/2023, Menard Electric Cooperative generated $35.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $35.3m during the year ending 12/2023. While expenses have increased by 3.3% per year over the past 5 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
TO PROVIDE RELIABLE ELECTRIC SERVICE AT A REASONABLE COST WITH CONCERN FOR THE SAFETY AND WELL-BEING OF THE MEMBERS, THE EMPLOYEES, AND THE COMMUNITIES OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICES TO OVER 11,000 MEMBERS IN 8 COUNTIES IN CENTRAL ILLINOIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alisha Anker General Manager | Officer | 40 | $225,386 |
Patricia Michaels Director Of Member Services | 40 | $143,032 | |
Brady Smith Manager Of Engineering | 40 | $132,074 | |
Dalton Whitley Director Of Operations | 40 | $132,800 | |
Brandon Blair Area Serviceman | 43 | $124,197 | |
Robert Hanner Area Serviceman | 42 | $126,004 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wright Tree Service Tree Trimming | 12/30/23 | $1,354,587 |
The L E Myers Company Line Construction | 12/30/23 | $1,302,068 |
Spoon River Electric Coop Tree Trimming | 12/30/23 | $539,312 |
Federated Rural Electric Insurance Insurance | 12/30/23 | $259,673 |
Southeastern Wood Pole Inspectors Pole Inspectors | 12/30/23 | $198,315 |
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 | $35,237,805 |
| Investment income | $75,619 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,337 |
| Net Gain/Loss on Asset Sales | -$26,648 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,313,108 |
| 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 | $2,598,289 |
| Compensation of current officers, directors, key employees. | $506,836 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $49,230 |
| Other salaries and wages | $898,794 |
| 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 | $1,476,074 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,614,436 |
| Insurance | $0 |
| All other expenses | $78,734 |
| Total functional expenses | $35,313,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,154 |
| Savings and temporary cash investments | $716,859 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,835,557 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,680,228 |
| Prepaid expenses and deferred charges | $364,625 |
| Net Land, buildings, and equipment | $64,665,748 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,265,076 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $86,529,247 |
| Accounts payable and accrued expenses | $4,636,047 |
| Grants payable | $0 |
| Deferred revenue | $1,012,354 |
| 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 | $44,458,803 |
| Unsecured mortgages and notes payable | $1,000,000 |
| Other liabilities | $690,252 |
| Total liabilities | $51,797,456 |
| 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 | $3,497,622 |
| Retained earnings, endowment, accumulated income, or other funds | $31,234,169 |
| Total liabilities and net assets/fund balances | $86,529,247 |