Richland Electric Cooperative
- Assets
- $29.3m
- Revenue
- $9.1m
- Investments
- $295.1k
- Employees
- 18
- Location
- Richland Center, WI
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 39-0568995
Organization Overview
Richland Electric Cooperative is located in Richland Center, WI. The organization was established in 0000. 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, Richland Electric Cooperative employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richland 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 12/2023, Richland Electric Cooperative generated $9.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $8.7m during the year ending 12/2023. While expenses have increased by 0.8% 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
PROVIDE ELECTRIC ENERGY TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC ENERGY TO ITS MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shannon Clark Vice Preside | Officer | 40 | $271,421 |
Amy Martin Ceo/gm | Officer | 60 | $149,327 |
Larry Hallett Coo/agm | 40 | $125,405 | |
Mark Miller Dir Of Energ | 43 | $120,002 | |
Dave Darling Journeymanli | 43 | $119,419 | |
James Kaderavek Journeymanli | 43 | $123,252 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zielies Tree Service Inc Maintenance | 12/30/23 | $150,500 |
Asplundh Tree Expert Co Maintenance | 12/30/23 | $193,232 |
Midwest Builders Building Addit | 12/30/23 | $418,592 |
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 | $8,946,558 |
| Investment income | $16,319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $62,693 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,059,286 |
| 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 | $45,940 |
| Compensation of current officers, directors, key employees. | $608,609 |
| 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 | $13,800 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $589,036 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,011,854 |
| Insurance | $0 |
| All other expenses | $738,614 |
| Total functional expenses | $8,740,282 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $992,164 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $873,788 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $248,993 |
| Inventories for sale or use | $451,996 |
| Prepaid expenses and deferred charges | $40,387 |
| Net Land, buildings, and equipment | $22,089,505 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $295,124 |
| Investments—program-related | $4,295,284 |
| Intangible assets | $0 |
| Other assets | $11,742 |
| Total assets | $29,298,983 |
| Accounts payable and accrued expenses | $459,158 |
| 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 | $15,354,045 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,695,986 |
| Total liabilities | $17,509,189 |
| 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 | $11,789,794 |
| Total liabilities and net assets/fund balances | $29,298,983 |