Lyon-Lincoln Electric Cooperative Inc
- Assets
- $38.5m
- Revenue
- $11.0m
- Investments
- $80.8k
- Employees
- 19
- Location
- Tyler, MN
- Founding
- 11/1940
- Data as of
- 12/2021
- EIN
- 41-0387084
Organization Overview
Lyon-Lincoln Electric Cooperative Inc is located in Tyler, MN. The organization was established in 1940. 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 12/2021, Lyon-Lincoln Electric Cooperative Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lyon-Lincoln Electric Cooperative Inc 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 12/2021, Lyon-Lincoln Electric Cooperative Inc generated $11.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $11.0m during the year ending 12/2021. While expenses have increased by 1.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRICITY TO RURAL AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 3,946 MEMBERS AND ADDED/REPLACED 0.42 MILES OF LINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy O'leary General Manager | Officer | 40 | $160,814 |
Lyle Lamote Line Superintendent | 40 | $100,687 | |
James A Rokeh Director | Trustee | 7.2 | $8,350 |
Sander L Ludeman President | OfficerTrustee | 4.3 | $7,440 |
Mary Gunnink Director | Trustee | 3.4 | $5,900 |
Kathleen Schreurs Secretary & Treasurer | OfficerTrustee | 3.4 | $5,835 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Te Underground Plow In Underground Cable | 12/30/20 | $303,442 |
Usic Locating Services Inc Cable Locating | 12/30/20 | $110,932 |
Te Underground Plow In Underground Cable | 12/30/20 | $303,442 |
Usic Locating Services Inc Cable Locating | 12/30/20 | $110,932 |
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 | $10,938,430 |
| Investment income | $47,829 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,865 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,989,124 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,048 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $870,820 |
| Compensation of current officers, directors, key employees. | $282,217 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,239,333 |
| Pension plan accruals and contributions | $306,044 |
| Other employee benefits | $0 |
| Payroll taxes | $106,178 |
| 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 | $631,460 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,105,243 |
| Insurance | $0 |
| All other expenses | -$1,495,769 |
| Total functional expenses | $10,989,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,813,384 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $814,284 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $33,587 |
| Inventories for sale or use | $1,005,958 |
| Prepaid expenses and deferred charges | $241,130 |
| Net Land, buildings, and equipment | $25,367,514 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $80,822 |
| Investments—program-related | $8,170,955 |
| Intangible assets | $498 |
| Other assets | $4,590 |
| Total assets | $38,532,722 |
| Accounts payable and accrued expenses | $1,063,072 |
| 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 | $20,917,830 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $334,250 |
| Total liabilities | $22,315,152 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $19,790 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $16,197,780 |
| Total liabilities and net assets/fund balances | $38,532,722 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Capital Electric Cooperative Inc Bismarck, ND | $133,692,620 | $42,124,624 |
Oakdale Electric Cooperative Oakdale, WI | $108,949,694 | $41,848,166 |
Barron Electric Cooperative Barron, WI | $83,238,959 | $40,823,389 |
Northern Plains Electric Cooperative Carrington, ND | $137,367,234 | $41,884,973 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
Riverland Energy Cooperative Arcadia, WI | $120,553,523 | $39,958,076 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
District Energy St Paul Inc St Paul, MN | $133,953,246 | $38,563,375 |
Steele Waseca Cooperative Electric Owatonna, MN | $93,180,056 | $37,750,212 |
Maquoketa Valley Rural Electric Cooperative Anamosa, IA | $145,482,750 | $38,262,856 |
Access Energy Cooperative Mt Pleasant, IA | $101,668,176 | $38,281,251 |