Rural Electric Convenience Cooperative Co
- Assets
- $42.6m
- Revenue
- $14.5m
- Investments
- $0.0
- Employees
- 28
- Location
- Auburn, IL
- Founding
- 04/1938
- Data as of
- 12/2021
- EIN
- 37-0495772
Organization Overview
Rural Electric Convenience Cooperative Co is located in Auburn, 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, Rural Electric Convenience Cooperative Co employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Electric Convenience Cooperative Co 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, Rural Electric Convenience Cooperative Co generated $14.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $14.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 years. 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
AS AN ENERGY AND SERVICES COOPERATIVE, OUR MEMBERS' NEEDS ARE RURAL ELECTRIC CONVENIENCE COOPERATIVE'S FIRST PRIORITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC CONVENIENCE COOPERATIVE (RECC) SERVES 5,910 CONSUMERS IN SANGAMON, MORGAN, MACOUPIN, CHRISTIAN, AND MONTGOMERY COUNTIES. RECC ALSO SERVES CONSUMERS IN SEVERAL GROWING SUBDIVISIONS AROUND SPRINGFIELD, TAYLORVILLE, LITCHFIELD, AND OTHER TOWNS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David E Stuva President & | Officer | 50 | $208,498 |
Timothy Hemberger Mgr Operatio | Officer | 45 | $95,394 |
Aubrie Megginson Mgr Finance | Officer | 45 | $81,769 |
Melvin Repscher Director | Trustee | 5 | $11,120 |
Lou Weitekamp Director | Trustee | 4 | $10,070 |
Cassie Eigenmann Director | Trustee | 4 | $9,720 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Information Solution Coop Software | 12/30/21 | $138,362 |
Farm Credit Leasing Services Vehicle Leasing | 12/30/21 | $256,401 |
Blue Cross Blue Shiled Of Il Health Ins | 12/30/21 | $330,611 |
Fletcher-reinhardt Co Matl Supplier | 12/30/21 | $255,266 |
United Utility Supply Matl Supplier | 12/30/21 | $202,968 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $510,787 |
| 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 | $510,787 |
| Total Program Service Revenue | $13,812,359 |
| Investment income | $20,936 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,117 |
| Net Gain/Loss on Asset Sales | $104,160 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,477,787 |
| 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 | $779,476 |
| Compensation of current officers, directors, key employees. | $803,801 |
| 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 | $992,864 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,635,108 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $14,477,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $420,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,144,268 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $637,463 |
| Prepaid expenses and deferred charges | $406,504 |
| Net Land, buildings, and equipment | $38,092,950 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,894,683 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,595,868 |
| Accounts payable and accrued expenses | $1,841,957 |
| Grants payable | $0 |
| Deferred revenue | $224,877 |
| 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 | $25,303,842 |
| Unsecured mortgages and notes payable | $950,000 |
| Other liabilities | $301,215 |
| Total liabilities | $28,621,891 |
| 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 | $1,121,276 |
| Retained earnings, endowment, accumulated income, or other funds | $12,852,701 |
| Total liabilities and net assets/fund balances | $42,595,868 |
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 |