Meeker Cooperative Light & Power Association
- Assets
- $113.3m
- Revenue
- $29.6m
- Investments
- $0.0
- Employees
- 54
- Location
- Litchfield, MN
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 41-0404900
Organization Overview
Meeker Cooperative Light & Power Association, operating under the name Meeker Cooperative, is located in Litchfield, MN. 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 12/2022, Meeker Cooperative employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meeker 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, Meeker Cooperative generated $29.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $29.8m during the year ending 12/2022. While expenses have increased by 4.9% per year over the past 8 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 ENERGIZE AND CONNECT THE COOPERATIVE'S MEMBERS AND CUSTOMERS, ENHANCING THEIR LIVES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SAFE, RELIABLE ENERGY AND OTHER VALUE ADDED SERVICES TO 7,942 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Bryant Director | Trustee | 4.3 | $7,870 |
Larry Huhn Director | Trustee | 4.2 | $7,045 |
Paul Bugbee Director | Trustee | 4.2 | $7,430 |
Karl Lundin Secretary | Trustee | 5.3 | $4,380 |
Bradley Donnay Vice President | Trustee | 4.5 | $9,255 |
Stephen Plaisance Director | Trustee | 5.2 | $8,350 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Star Energy Services Llc Engineering Services | 12/30/22 | $512,207 |
Rath Underground Llc Underground Line Construction | 12/30/22 | $719,077 |
Kivisto West Tree Service Tree Trimming Services | 12/30/22 | $231,780 |
Highline Construction Inc Line And Broadband Construction And Main | 12/30/22 | $5,647,994 |
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 | $25,387,352 |
| Investment income | $129,970 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,456 |
| Net Gain/Loss on Asset Sales | $30,439 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $8,746 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,571,990 |
| 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 | $2,758,238 |
| Compensation of current officers, directors, key employees. | $706,737 |
| 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 | $1,825,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,455,801 |
| Insurance | $0 |
| All other expenses | $1,194,576 |
| Total functional expenses | $29,793,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,446 |
| Savings and temporary cash investments | $1,779,253 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,214,549 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,293 |
| Inventories for sale or use | $4,148,616 |
| Prepaid expenses and deferred charges | $218,000 |
| Net Land, buildings, and equipment | $89,391,183 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,875,911 |
| Intangible assets | $898 |
| Other assets | $185,660 |
| Total assets | $113,346,809 |
| Accounts payable and accrued expenses | $7,929,086 |
| 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 | $70,569,313 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $175,394 |
| Total liabilities | $78,673,793 |
| 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 | $34,673,016 |
| Total liabilities and net assets/fund balances | $113,346,809 |