Glasford Telephone Co
- Assets
- $5.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 6
- Location
- Glasford, IL
- Founding
- 09/1955
- Data as of
- 12/2021
- 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 12/2021, Glasford Telephone Co employed 6 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 12/2021, Glasford Telephone Co generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 2.4% 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
PROVIDE TELEHONE SERVICE TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE TELEPHONE SERVICE TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Goetze President-Di | OfficerTrustee | 4 | $4,125 |
Marsha Shafer Director | Trustee | 4 | $3,125 |
Bruce Scarcliff Director | Trustee | 2 | $1,625 |
William Pilgrim Director | Trustee | 2 | $1,625 |
Bob Hammerich Director | Trustee | 2 | $1,500 |
Damon Spenny Director | Trustee | 2 | $1,125 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $66,885 |
| 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 | $66,885 |
| Total Program Service Revenue | $1,484,134 |
| Investment income | $12,952 |
| 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 | $1,563,971 |
| 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 | $33,417 |
| Other employee benefits | $71,011 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $789 |
| Fees for services: Accounting | $16,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $173,203 |
| 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 | $271,301 |
| Insurance | $0 |
| All other expenses | $150,079 |
| Total functional expenses | $1,203,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $126,129 |
| Savings and temporary cash investments | $930,636 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,520 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $77,364 |
| Prepaid expenses and deferred charges | $38,093 |
| Net Land, buildings, and equipment | $3,785,695 |
| Investments—publicly traded securities | $5,100 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $333,509 |
| Total assets | $5,332,046 |
| Accounts payable and accrued expenses | $28,686 |
| 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 | $5,900 |
| Total liabilities | $34,586 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $31,080 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $5,266,380 |
| Total liabilities and net assets/fund balances | $5,332,046 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vernon Communications Cooperative Inc Westby, WI | $43,756,692 | $18,296,533 |
Telecommunication Facilities Corporation St Louis, MO | $37,705,343 | $20,079,070 |
Wabash Telephone Cooperative Inc Louisville, IL | $76,292,242 | $16,908,239 |
Mid Century Telephone Cooperative -Inc- Fairview, IL | $76,982,945 | $10,851,505 |
Kalona Cooperative Telephone Company Kalona, IA | $16,733,268 | $7,276,052 |
Daviess-Martin County Rural Telephone Corporation Montgomery, IN | $38,835,355 | $7,744,077 |
Nelson Communications Cooperative Durand, WI | $35,266,110 | $8,238,356 |
Richland-Grant Telephone Cooperative Inc Blue River, WI | $18,746,059 | $6,374,669 |
Illnois Fiber Resources Group Nfp Sycamore, IL | $36,396,135 | $3,347,168 |
La Valle Telephone Cooperative La Valle, WI | $13,091,792 | $4,810,156 |
Lehigh Valley Co-Operative Telephone Association Lehigh, IA | $19,306,008 | $3,317,069 |
Cooperative Telephone Company Victor, IA | $13,828,846 | $3,362,885 |