Vernon Electric Cooperative
- Assets
- $73.1m
- Revenue
- $23.4m
- Investments
- $0.0
- Employees
- 36
- Location
- Westby, WI
- Founding
- 08/1941
- Data as of
- 12/2023
- EIN
- 39-0677390
Organization Overview
Vernon Electric Cooperative is located in Westby, 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 12/2023, Vernon Electric Cooperative employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vernon 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, Vernon Electric Cooperative generated $23.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $23.0m during the year ending 12/2023. While expenses have increased by 1.3% 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
TO PROVIDE ELECTRIC ENERGY TO THE COOPERATIVE'S MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC ENERGY TO THE COOPERATIVE'S MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Buros Ceo/general | Officer | 50 | $212,423 |
Mark See Line Superin | 47 | $120,265 | |
Karla Yanske Director Of | 43 | $115,946 | |
Dan Flock Lineman | 44 | $110,018 | |
Jason Johnson Lineman | 44 | $109,794 | |
Tyler Halverson Lineman | 42 | $107,146 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zielie Tree Service Inc Tree Clearing | 12/30/23 | $621,431 |
A-1 Power Llc Utility Contrac | 12/30/23 | $388,093 |
National Information Solutions Coop Computer Softwa | 12/30/23 | $219,617 |
Kohnen Underground Utilities Civil Engineeri | 12/30/23 | $140,630 |
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 | $23,064,612 |
| Investment income | $189,645 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,080 |
| 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 | $18,510 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,434,167 |
| 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 | $1,433,808 |
| Compensation of current officers, directors, key employees. | $438,454 |
| 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 | $1,007,912 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,485,839 |
| Insurance | $0 |
| All other expenses | $1,094,329 |
| Total functional expenses | $22,966,218 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $486,220 |
| Savings and temporary cash investments | $149,072 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,064,295 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $65,692 |
| Inventories for sale or use | $1,668,212 |
| Prepaid expenses and deferred charges | $112,518 |
| Net Land, buildings, and equipment | $54,715,921 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,739,149 |
| Intangible assets | $808 |
| Other assets | $62,674 |
| Total assets | $73,064,561 |
| Accounts payable and accrued expenses | $2,548,208 |
| 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 | $31,892,764 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,144,174 |
| Total liabilities | $36,585,146 |
| 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 | $8,650,862 |
| Retained earnings, endowment, accumulated income, or other funds | $27,828,553 |
| Total liabilities and net assets/fund balances | $73,064,561 |