Meeker Cooperative Light & Power Association
- Assets
- $105.1m
- Revenue
- $25.7m
- Investments
- $0.0
- Employees
- 50
- Location
- Litchfield, MN
- Founding
- 12/1937
- Data as of
- 12/2021
- 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 12/2021, Meeker Cooperative employed 50 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 12/2021, Meeker Cooperative generated $25.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $27.5m during the year ending 12/2021. While expenses have increased by 4.4% 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 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 7,885 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy N Mergen Ceo/general Manager | Officer | 56 | $305,116 |
Luke Johnson Electric & Broadband Ops M | 46.7 | $164,054 | |
Kari A Miller Finance Manager | Officer | 52 | $151,607 |
Steven Kosbab Energy Services Manager | 45.1 | $145,101 | |
John Grabow Foreman | 42.9 | $118,774 | |
Daniel Schrupp Operations Supervisor | 43.7 | $115,292 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Star Energy Services Llc Engineering Services | 12/30/21 | $415,825 |
Rath Underground Llc Underground Line Construction | 12/30/21 | $657,859 |
Highline Construction Inc Line And Broadband Construction And Main | 12/30/21 | $1,755,096 |
Kivisto West Tree Service Tree Trimming Services | 12/30/21 | $361,996 |
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 | $22,767,987 |
| Investment income | $166,702 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,237 |
| Net Gain/Loss on Asset Sales | $12,476 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,831 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,674,897 |
| 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 | $2,518,244 |
| Compensation of current officers, directors, key employees. | $644,893 |
| 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 | $1,840,029 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,423,960 |
| Insurance | $0 |
| All other expenses | $1,105,649 |
| Total functional expenses | $27,545,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,727 |
| Savings and temporary cash investments | $3,010,578 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,844,517 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $18,082 |
| Inventories for sale or use | $2,756,451 |
| Prepaid expenses and deferred charges | $137,924 |
| Net Land, buildings, and equipment | $83,001,752 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $12,030,661 |
| Intangible assets | $28,472 |
| Other assets | $46,448 |
| Total assets | $105,104,612 |
| Accounts payable and accrued expenses | $7,162,639 |
| 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 | $65,092,589 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $177,559 |
| Total liabilities | $72,432,787 |
| 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 | $32,671,825 |
| Total liabilities and net assets/fund balances | $105,104,612 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Meeker Cooperative Light & Power Association has recieved totaling $15,630.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $15,630 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nodak Electric Cooperative Inc Grand Forks, ND | $162,149,817 | $119,843,322 |
Wright-Hennepin Cooperative Electric Association Rockford, MN | $233,547,306 | $112,957,716 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
Minnesota Valley Electric Cooperative Jordan, MN | $225,562,606 | $97,633,848 |
Sioux Valley-Southwestern Electric Cooperative Inc Colman, SD | $299,619,509 | $95,033,427 |
Lake Country Power Cohasset, MN | $343,138,601 | $92,478,659 |
Crow Wing Cooperative Power & Light Company Brainerd, MN | $238,884,299 | $79,431,443 |
Roughrider Electric Cooperative Inc Hazen, ND | $306,147,341 | $78,571,891 |
Mienergy Cooperative Rushford, MN | $203,461,309 | $76,660,548 |
Adams-Columbia Electric Co-Op Friendship, WI | $247,246,792 | $77,428,375 |
Stearns Cooperative Electric Association Melrose, MN | $153,957,017 | $65,381,947 |
Iowa Lakes Electric Cooperative Estherville, IA | $166,721,612 | $65,953,608 |