Alger Delta Co-Op Electric Association
- Assets
- $56.4m
- Revenue
- $18.5m
- Investments
- $0.0
- Employees
- 22
- Location
- Gladstone, MI
- Founding
- 07/1939
- Data as of
- 12/2023
- 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 12/2023, Alger Delta Co-Op Electric Association employed 22 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 12/2023, Alger Delta Co-Op Electric Association generated $18.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $18.5m during the year ending 12/2023. While expenses have increased by 2.8% 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
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 9,099 MEMBERS WERE SERVED IN 2023.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Lawless President | OfficerTrustee | 1.52 | $5,550 |
Karen Alholm Vice President | OfficerTrustee | 1.38 | $4,650 |
Jesse Betters Secretary/treasurer | OfficerTrustee | 2.88 | $6,150 |
Kirk Bruno Director | Trustee | 5.02 | $9,600 |
Darryl Small Director | Trustee | 1.58 | $5,050 |
Don Johnson Director | Trustee | 4.12 | $10,550 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jmca Construction Llc Contractor Of Boring/underground Wire | 12/30/23 | $147,339 |
Michigan Electric Cooperative Associatio Various Shared Services | 12/30/23 | $117,477 |
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 | $18,501,800 |
| Investment income | $14,071 |
| 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 | $18,515,871 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $355 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,021,975 |
| Compensation of current officers, directors, key employees. | $457,901 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,601,295 |
| Pension plan accruals and contributions | $269,780 |
| Other employee benefits | $0 |
| Payroll taxes | $143,484 |
| 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 | $1,058,794 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,141,426 |
| Insurance | $0 |
| All other expenses | -$1,743,978 |
| Total functional expenses | $18,515,871 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $572,377 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,701,685 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,207,228 |
| Prepaid expenses and deferred charges | $141,912 |
| Net Land, buildings, and equipment | $49,786,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,940,357 |
| Intangible assets | $0 |
| Other assets | $3,450 |
| Total assets | $56,353,683 |
| Accounts payable and accrued expenses | $2,041,049 |
| 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 | $34,324,214 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $837,581 |
| Total liabilities | $37,202,844 |
| 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 | $19,069,916 |
| Total liabilities and net assets/fund balances | $56,353,683 |