Riverland Energy Cooperative
- Assets
- $129.2m
- Revenue
- $45.8m
- Investments
- $0.0
- Employees
- 50
- Location
- Arcadia, WI
- Founding
- 09/1937
- Data as of
- 12/2023
- EIN
- 39-0663435
Organization Overview
Riverland Energy Cooperative is located in Arcadia, WI. The organization was established in 1937. 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, Riverland Energy Cooperative employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverland Energy 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, Riverland Energy Cooperative generated $45.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $45.7m during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 5 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
TO PROVIDE COOPERATIVE MEMBERS WITH ELECTRICITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE COOPERATIVE MEMBERS WITH ELECTRICITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Holtan CEO | Officer | 40 | $196,044 |
Tyler Vitse Lineman | 48.55 | $131,049 | |
Todd Anibas Lineman | 48.5 | $125,352 | |
Royce Kosik Lineman | 48.24 | $124,950 | |
Adam Pronschinske Lineman | 48.04 | $124,516 | |
Dale Kircher Lineman | 48.11 | $135,481 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zielie's Tree Service Right Of Way Cl | 12/30/23 | $806,488 |
Kohnen Underground Utilities Cable Locates | 12/30/23 | $253,412 |
Tjader & Highstorm Utility Overhead Contra | 12/30/23 | $685,642 |
A-1 Power Overhead Contra | 12/30/23 | $237,184 |
Karcz Utility Service Pole Inspection | 12/30/23 | $248,471 |
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 | $43,737,505 |
| Investment income | $1,982,151 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,457 |
| 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 | $1,266 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,807,235 |
| 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 | $3,822,439 |
| Compensation of current officers, directors, key employees. | $1,352,880 |
| 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 | $2,874,153 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $600,262 |
| Total functional expenses | $45,727,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,208,793 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,629,892 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,576,813 |
| Prepaid expenses and deferred charges | $120,608 |
| Net Land, buildings, and equipment | $98,443,873 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $22,426,978 |
| Intangible assets | $0 |
| Other assets | $749,156 |
| Total assets | $129,156,113 |
| Accounts payable and accrued expenses | $5,251,821 |
| 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 | $70,580,369 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $156,655 |
| Total liabilities | $75,988,845 |
| 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 | $53,167,268 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $129,156,113 |