Alger Delta Co-Op Electric Association
- Assets
- $52.0m
- Revenue
- $17.7m
- Investments
- $0.0
- Employees
- 19
- Location
- Gladstone, MI
- Founding
- 07/1939
- Data as of
- 12/2021
- EIN
- 38-0289531
Organization Overview
Alger Delta Co-Op Electric Association is located in Gladstone, MI. 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 12/2021, Alger Delta Co-Op Electric Association employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alger Delta Co-Op Electric Association 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, Alger Delta Co-Op Electric Association generated $17.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $17.7m during the year ending 12/2021. While expenses have increased by 2.9% 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
ELECTRICAL DISTRIBUTION UTILITY PROVIDING SERVICE TO RURAL AREAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRICAL SERVICE TO THE RURAL AREAS OF MARQUETTE, ALGER, DELTA, DICKINSON, SCHOOLCRAFT AND MENOMINEE COUNTIES IN THE UPPER PENINSULA OF MICHIGAN A TOTAL OF 10,093 MEMBERS WERE SERVED IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Furmanski General Manager | Officer | 40 | $132,644 |
Todd Wilson Working Foreman | 49.71 | $130,261 | |
Jon Conger Lead Lineman | 49.75 | $122,439 | |
Thomas Viitala-Apprentice Lineworke (jan)/lead Lineman (feb-Dec) | 48.73 | $117,069 | |
Troy Tiernan Operations Manager | Officer | 40 | $114,345 |
Cody Warren Lead Lineman | 46.5 | $109,376 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Michigan Electric Cooperative Associatio Board For Cooperatives In Mi | 12/30/21 | $241,790 |
Jmca Construction Llc Contractor | 12/30/21 | $139,022 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $373,600 |
| 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 | $373,600 |
| Total Program Service Revenue | $17,277,469 |
| Investment income | $12,610 |
| 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 | $17,663,679 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $365 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,172,002 |
| Compensation of current officers, directors, key employees. | $529,342 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,227,340 |
| Pension plan accruals and contributions | $166,957 |
| Other employee benefits | $0 |
| Payroll taxes | $118,993 |
| 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 | $1,004,401 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,992,804 |
| Insurance | $0 |
| All other expenses | -$1,467,019 |
| Total functional expenses | $17,663,679 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $385,207 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,709,421 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $709,949 |
| Prepaid expenses and deferred charges | $204,631 |
| Net Land, buildings, and equipment | $46,348,299 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,639,590 |
| Intangible assets | $0 |
| Other assets | $2,332 |
| Total assets | $51,999,429 |
| Accounts payable and accrued expenses | $2,271,694 |
| 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 | $31,574,875 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $649,288 |
| Total liabilities | $34,495,857 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $80,923 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $17,422,649 |
| Total liabilities and net assets/fund balances | $51,999,429 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kosciusko Rural Electric Membership Corporation Warsaw, IN | $103,207,559 | $50,256,556 |
Carroll White Remc Monticello, IN | $77,626,690 | $46,434,460 |
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 |
Paulding-Putnam Electric Cooperative Inc Paulding, OH | $113,731,744 | $45,501,402 |
Hancock-Wood Electric Cooperative North Baltimore, OH | $133,031,141 | $50,854,119 |
Bartholomew County Rural Electric Membership Corporation Columbus, IN | $73,524,777 | $45,185,369 |
Buckeye Rural Electric Co-Op Inc Rio Grande, OH | $133,098,121 | $42,883,645 |
Oakdale Electric Cooperative Oakdale, WI | $108,949,694 | $41,848,166 |
Barron Electric Cooperative Barron, WI | $83,238,959 | $40,823,389 |
Riverland Energy Cooperative Arcadia, WI | $120,553,523 | $39,958,076 |
Southern Indiana Power Tell City, IN | $70,453,737 | $39,497,094 |