Cloverland Electric Cooperative Inc is located in Sault Ste Marie, MI. The organization was established in 1942. 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, Cloverland Electric Cooperative Inc employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cloverland Electric Cooperative Inc 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, Cloverland Electric Cooperative Inc generated $87.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $77.9m during the year ending 12/2021. 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
ELECTRIC COOPERATIVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC POWER TO OVER 44,000 CONSUMERS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Michael Heise President/ceo | Officer | 40 | $348,116 |
Elizabeth Castilho CFO | Officer | 40 | $164,627 |
Roger Line Dir Of Generation | 40 | $138,779 | |
Brian Lavey Dir Of Engineering | 40 | $135,908 | |
Michael Talsma Line Foreman | 40 | $129,417 | |
Jared Kangas Line Foreman | 40 | $129,167 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Asplundh Tree Expert Llc Tree Trimming Services | 12/30/21 | $2,743,806 |
Pickford Solar Llc Solar Energy | 12/30/21 | $440,114 |
Robert Schallip Reimburse Retirement Distribution | 12/30/21 | $119,170 |
Metis Energy Llc Consulting | 12/30/21 | $110,659 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $3,481,519 |
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 | $3,481,519 |
Total Program Service Revenue | $82,242,536 |
Investment income | $1,450,336 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | -$40,429 |
Net Gain/Loss on Asset Sales | $23,876 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $87,157,838 |
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 | $407,668 |
Compensation of current officers, directors, key employees. | $583,543 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $687,285 |
Pension plan accruals and contributions | $271,586 |
Other employee benefits | $127,523 |
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 | $137,632 |
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 | $3,952,332 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $6,766,839 |
Insurance | $0 |
All other expenses | $13,469,933 |
Total functional expenses | $77,884,316 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,500 |
Savings and temporary cash investments | $2,178,536 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $9,765,522 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $3,965,272 |
Prepaid expenses and deferred charges | $435,727 |
Net Land, buildings, and equipment | $168,513,311 |
Investments—publicly traded securities | $0 |
Investments—other securities | $16,918,950 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $8,563,761 |
Total assets | $210,343,579 |
Accounts payable and accrued expenses | $9,979,277 |
Grants payable | $0 |
Deferred revenue | $681,096 |
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 | $125,873,252 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $10,658,182 |
Total liabilities | $147,191,807 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $176,805 |
Paid-in or capital surplus, or land, building, or equipment fund | $2,030,704 |
Retained earnings, endowment, accumulated income, or other funds | $60,944,263 |
Total liabilities and net assets/fund balances | $210,343,579 |
Organization Name | Assets | Revenue |
---|---|---|
Buckeye Power Inc Columbus, OH | $1,739,976,540 | $814,420,643 |
Wabash Valley Power Association Inc Indianapolis, IN | $1,308,025,251 | $757,452,533 |
Wolverine Power Supply Cooperative Inc Cadillac, MI | $963,621,114 | $556,306,485 |
Dairyland Power Cooperative La Crosse, WI | $1,543,973,952 | $466,517,279 |
Midcontinent Independent System Operator Inc Carmel, IN | $2,446,006,704 | $407,489,988 |
South Central Power Company Lancaster, OH | $695,490,462 | $352,992,911 |
Great Lakes Energy Cooperative Boyne City, MI | $794,670,914 | $238,017,889 |
Northeastern Rural Electric Membership Corporation Columbia City, IN | $154,005,839 | $126,158,719 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |
South Central Indiana Rural Electric Membership Corporation Martinsville, IN | $273,130,010 | $92,514,436 |
Cloverland Electric Cooperative Inc Sault Ste Marie, MI | $210,343,579 | $87,157,838 |
Tipmont Rural Electric Membership Corporation Linden, IN | $238,009,464 | $75,841,839 |