Chippewa Valley Electric Cooperative
- Assets
- $48.0m
- Revenue
- $16.6m
- Investments
- $7.0k
- Employees
- 26
- Location
- Cornell, WI
- Founding
- 03/1938
- Data as of
- 12/2022
- EIN
- 39-0207312
Organization Overview
Chippewa Valley Electric Cooperative is located in Cornell, WI. The organization was established in 1938. 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, Chippewa Valley Electric Cooperative employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chippewa Valley 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, Chippewa Valley Electric Cooperative generated $16.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $16.4m during the year ending 12/2022. While expenses have increased by 2.2% per year over the past 8 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
SUPPLYING ELECTRICITY TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPLYING ELECTRICITY TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Ortmann President / | Officer | 45 | $194,278 |
Nicolas Alberson Line Superin | 45 | $122,664 | |
Daniel Ferris Lineman | 46.02 | $114,687 | |
Benjamen Modl Lineman | 47.04 | $113,632 | |
Trevin Jensen Lineman | 45.26 | $110,818 | |
Christopher Larson Lineman | 45.66 | $113,401 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zielie's Tree Service Clearing/brush | 12/30/22 | $235,947 |
A-1 Power Ug And Oh Lines | 12/30/22 | $192,303 |
Heartland Business Systems It Services | 12/30/22 | $170,034 |
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 | $16,157,934 |
| Investment income | $176,255 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,279 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$1,772 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,561,051 |
| 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 | $1,300,219 |
| Compensation of current officers, directors, key employees. | $340,633 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| 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 | $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 | $691,127 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,705,593 |
| Insurance | $0 |
| All other expenses | $1,288,561 |
| Total functional expenses | $16,447,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300,614 |
| Savings and temporary cash investments | $1,433 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,597,236 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,500,000 |
| Inventories for sale or use | $491,996 |
| Prepaid expenses and deferred charges | $91,162 |
| Net Land, buildings, and equipment | $33,809,122 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,009 |
| Investments—program-related | $7,181,731 |
| Intangible assets | $0 |
| Other assets | $67,009 |
| Total assets | $48,047,312 |
| Accounts payable and accrued expenses | $2,570,478 |
| 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 | $21,553,889 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $528,475 |
| Total liabilities | $24,652,842 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $23,394,470 |
| Total liabilities and net assets/fund balances | $48,047,312 |