Oconto Electric Cooperative
- Assets
- $45.6m
- Revenue
- $17.3m
- Investments
- $0.0
- Employees
- 38
- Location
- Oconto Falls, WI
- Founding
- 06/1941
- Data as of
- 12/2022
- EIN
- 39-0513423
Organization Overview
Oconto Electric Cooperative is located in Oconto Falls, WI. The organization was established in 1941. 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, Oconto Electric Cooperative employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oconto 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, Oconto Electric Cooperative generated $17.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $17.5m during the year ending 12/2022. While expenses have increased by 1.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRICITY TO MEMBERS IN AN EFFICIENT MANNER UTILIZING COOPERATIVE PRINCIPLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATIONS ARE BASED UPON THE COOPERATIVE PRINCIPLES PROVIDED ELECTRICITY SOURCE TO MEMBERS OF THE COOPERATIVE BY PURCHASING WHOLESALE POWER; BUILDING, MAINTAINING, AND OPERATING AN ELECTRICAL DISTRIBUTION SYSTEM; AND OPERATED MEMBER INFORMATION AND CUSTOMER SUPPORT OPERATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Byron Nolde CEO | Officer | 40 | $290,598 |
John Havemeier Line Foreman | 40 | $131,018 | |
Brian Arndt Lineman | 40 | $125,392 | |
Jack Pardy Line Superin | 40 | $125,037 | |
Ben Wilcox Lineman | 40 | $122,663 | |
Kent Lyng System Engin | 40 | $123,724 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Michels Power Engineering | 12/30/22 | $753,864 |
Zielies Tree Service Tree Removal | 12/30/22 | $427,801 |
Power Systems Engineering Inc Engineering | 12/30/22 | $124,288 |
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 | $17,160,748 |
| Investment income | $22,839 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $136,451 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,335,038 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $585,913 |
| 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 | $675,130 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,087,523 |
| Insurance | $0 |
| All other expenses | $1,304,449 |
| Total functional expenses | $17,504,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,083 |
| Savings and temporary cash investments | $214,309 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,234,692 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,186,925 |
| Prepaid expenses and deferred charges | $114,603 |
| Net Land, buildings, and equipment | $39,799,087 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,749,065 |
| Intangible assets | $0 |
| Other assets | $166,009 |
| Total assets | $45,641,773 |
| Accounts payable and accrued expenses | $1,049,127 |
| 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 | $21,931,315 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,116,097 |
| Total liabilities | $24,096,539 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $19,611,156 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,934,078 |
| Total liabilities and net assets/fund balances | $45,641,773 |