Glasford Telephone Co
- Assets
- $5.8m
- Revenue
- $1.6m
- Investments
- $5.1k
- Employees
- 5
- Location
- Glasford, IL
- Founding
- 09/1955
- Data as of
- 12/2023
- EIN
- 37-0772522
Organization Overview
Glasford Telephone Co is located in Glasford, IL. The organization was established in 1955. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Glasford Telephone Co employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glasford Telephone 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 12/2023, Glasford Telephone Co generated $1.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 3.4% 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
PROVIDE TELEHONE AND INTERNET SERVICE TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE TELEPHONE AND INTERNET SERVICE TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marsha Shafer Sec-Treas, D | OfficerTrustee | 2 | $3,000 |
Michael Lanan Director | Trustee | 2 | $1,500 |
William Pilgrim Director | Trustee | 2 | $1,500 |
Bob Hammerich VP & Directo | OfficerTrustee | 2 | $1,375 |
Damon Spenny President & | OfficerTrustee | 2 | $1,375 |
Bruce Scarcliff Director | Trustee | 2 | $1,250 |
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 | $1,527,779 |
| Investment income | $22,285 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,550,064 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $35,668 |
| Other employee benefits | $72,300 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,212 |
| Fees for services: Accounting | $19,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $229,679 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $268,460 |
| Insurance | $0 |
| All other expenses | $172,993 |
| Total functional expenses | $1,382,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $510,440 |
| Savings and temporary cash investments | $754,698 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,309 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $112,233 |
| Prepaid expenses and deferred charges | $45,584 |
| Net Land, buildings, and equipment | $3,987,308 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $328,759 |
| Total assets | $5,779,431 |
| Accounts payable and accrued expenses | $30,380 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,021 |
| Total liabilities | $37,401 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $30,840 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $5,711,190 |
| Total liabilities and net assets/fund balances | $5,779,431 |