Bayfield Electric Cooperative
- Assets
- $40.6m
- Revenue
- $15.6m
- Investments
- $0.0
- Employees
- 22
- Location
- Iron River, WI
- Founding
- 07/1942
- Data as of
- 12/2022
- EIN
- 39-0154234
Organization Overview
Bayfield Electric Cooperative is located in Iron River, WI. 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 12/2022, Bayfield Electric Cooperative employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bayfield Electric Cooperative 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 12/2022, Bayfield Electric Cooperative generated $15.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $15.6m during the year ending 12/2022. While expenses have increased by 1.0% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ELECTRIC ENERGY DISTRIBUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICAL ENERGY TO ITS MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Kopel CEO | Officer | 40 | $195,872 |
Sara Anderson CFO | Officer | 40 | $116,867 |
Robert Lahti Operations Manager | 40 | $114,500 | |
Dustin Mckay Lineman | 48.95 | $119,337 | |
Keith Klobucher Lineman | 46.63 | $116,136 | |
Matthew Tarasewicz Lineman | 49.04 | $127,145 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zielie's Tree Service Right-away Clearing | 12/30/22 | $724,787 |
A-1 Power Llc Urd Plowing | 12/30/22 | $102,616 |
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 | $15,225,740 |
| Investment income | $17,720 |
| 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 | $15,614,627 |
| 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 | $456,051 |
| Compensation of current officers, directors, key employees. | $532,049 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,672,226 |
| Other salaries and wages | $386,670 |
| Pension plan accruals and contributions | $70,054 |
| Other employee benefits | $86,154 |
| Payroll taxes | $143,158 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,916 |
| Fees for services: Accounting | $31,187 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $41,040 |
| Office expenses | $133,807 |
| Information technology | $123,042 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $45,923 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,326 |
| Interest | $732,795 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,662,134 |
| Insurance | $0 |
| All other expenses | $1,401,280 |
| Total functional expenses | $15,617,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,544,737 |
| Savings and temporary cash investments | $443 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,725,432 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $693,977 |
| Prepaid expenses and deferred charges | $155,909 |
| Net Land, buildings, and equipment | $28,961,440 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,553,271 |
| Total assets | $40,635,209 |
| Accounts payable and accrued expenses | $1,007,722 |
| 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 | $23,779,232 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,006,670 |
| Total liabilities | $26,793,624 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $42,265 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $13,799,320 |
| Total liabilities and net assets/fund balances | $40,635,209 |