Shelby Electric Cooperative
- Assets
- $82.6m
- Revenue
- $38.4m
- Investments
- $0.0
- Employees
- 67
- Location
- Shelbyville, IL
- Founding
- 02/1939
- Data as of
- 12/2022
- EIN
- 37-0512347
Organization Overview
Shelby Electric Cooperative is located in Shelbyville, IL. The organization was established in 1939. 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 12/2022, Shelby Electric Cooperative employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shelby 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 12/2022, Shelby Electric Cooperative generated $38.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $38.4m during the year ending 12/2022. While expenses have increased by 2.0% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RELIABLE ELECTRIC POWER AND RELATED SERVICES TO OUR MEMBERS AT AN AFFORDABLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHELBY ELECTRIC COOPERATIVE SERVES ALL OR PARTS OF CHRISTIAN, CUMBERLAND, EFINGHAM, FAYETTE, MACON, MONTGOMERY, MOULTRIE, SANGAMON AND SHELBY COUTIES. THE COOPERATIVE SERVES AROUND 10,000 MEMBER-OWNERS WITH OVER 2,200 MILES OF ENERGIZED LINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Josh M Shallenberger CEO | Officer | 45 | $249,231 |
Brian R Chevalier Operations | 45 | $123,275 | |
Roger W Jones Operations | 45 | $122,061 | |
James A Matlock COO | Officer | 45 | $138,708 |
Terry L Oldham Operations | 45 | $129,286 | |
Troy L Hatfield Controller | Officer | 45 | $97,059 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nisc Software/suppor | 12/30/22 | $258,139 |
Jf Electric Inc Contractor-fibe | 12/30/22 | $256,948 |
Finley Engineering Co Inc Engineering Svc | 12/30/22 | $242,870 |
Fox & Austin Masonary & Concrete Concrete | 12/30/22 | $178,806 |
Toth & Associates Inc Engineering Svc | 12/30/22 | $107,870 |
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 | $36,265,354 |
| Investment income | $151,122 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $73,550 |
| Net Gain/Loss on Asset Sales | -$31,852 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,433,374 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,618,664 |
| Compensation of current officers, directors, key employees. | $756,683 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $548,520 |
| 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 | $1,149,108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,709,472 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $38,433,374 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,704,331 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,156,483 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,834,431 |
| Inventories for sale or use | $1,821,996 |
| Prepaid expenses and deferred charges | $1,326,637 |
| Net Land, buildings, and equipment | $41,121,303 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $21,617,755 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $82,582,936 |
| Accounts payable and accrued expenses | $3,948,928 |
| Grants payable | $0 |
| Deferred revenue | $3,926,382 |
| 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 | $21,351,360 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,458,912 |
| Total liabilities | $30,685,582 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,399,654 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $48,497,700 |
| Total liabilities and net assets/fund balances | $82,582,936 |
Grants Awarded
Over the last fiscal year, Shelby Electric Cooperative has awarded $16,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SHELBY CO PORK PRODUCERS | | | $6,500 |
SHELBY COUNTY CEOOFFICE OF BUSINESS/ECONOMIC DEVELOP | | | $10,000 |