East Central Energy
- Assets
- $351.0m
- Revenue
- $133.2m
- Investments
- $382.6k
- Employees
- 178
- Location
- Braham, MN
- Founding
- 12/1937
- Data as of
- 12/2021
- EIN
- 41-0480748
Organization Overview
East Central Energy is located in Braham, MN. The organization was established in 1937. According to its NTEE Classification (C99) the organization is classified as: Environment N.E.C., under the broad grouping of Environment and related organizations. As of 12/2021, East Central Energy employed 178 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Central Energy 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, East Central Energy generated $133.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $137.9m during the year ending 12/2021. While expenses have increased by 1.4% per year over the past 6 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
DISTRIBUTE ELECTRIC ENERGY TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC ENERGY TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Jahnz President/ceo | Officer | 45 | $215,800 |
Andy Olson Vp/chief Operating Officer | Officer | 43 | $195,285 |
Lisa Prachar Vp/cfo (appointed 3/1/21) | Officer | 43 | $186,274 |
Ty Houglum Vp/chief Information Officer | Officer | 44 | $173,314 |
Christy Flaspeter Hr Manager | 43 | $157,775 | |
Tanner Olson Line Personnel | 59 | $157,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lakes States Tree Service Inc Tree Trimming/clearing | 12/30/21 | $1,300,585 |
Skyline Utilities Power Line Construction | 12/30/21 | $576,576 |
Yts Companies Power Line Construction | 12/30/21 | $504,577 |
New Age Tree Service Inc Tree Trimming/clearing | 12/30/21 | $499,547 |
R & G Waldhalm Contractors Excavation Work | 12/30/21 | $2,200,068 |
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 | $131,428,684 |
| Investment income | $177,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $179,931 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $133,197,154 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $140,484 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $11,323,942 |
| Compensation of current officers, directors, key employees. | $1,377,840 |
| 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 | $5,782,724 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,888,649 |
| Insurance | $0 |
| All other expenses | $5,202,943 |
| Total functional expenses | $137,894,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,423,441 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,170,959 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,738,816 |
| Inventories for sale or use | $3,359,688 |
| Prepaid expenses and deferred charges | $754,109 |
| Net Land, buildings, and equipment | $238,077,736 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $382,603 |
| Investments—program-related | $71,727,623 |
| Intangible assets | $0 |
| Other assets | $5,393,835 |
| Total assets | $351,028,810 |
| Accounts payable and accrued expenses | $20,716,057 |
| Grants payable | $0 |
| Deferred revenue | $16,731,296 |
| 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 | $176,739,804 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,068,387 |
| Total liabilities | $215,255,544 |
| 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 | $135,773,266 |
| Total liabilities and net assets/fund balances | $351,028,810 |
Grants Awarded
Over the last fiscal year, East Central Energy has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Little Falls, MN PURPOSE: PROVIDE PERMANENT SUPPORT FOR COMMUNITY AND ECONOMIC DEVELOPMENT IN ECE CENTRAL MINNESOTA SERVICE AREA. | $10,000 |
Arlington, VA PURPOSE: PROGRAM ASSISTANCE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Connexus Energy Ramsey, MN | $473,343,536 | $273,978,610 |
East Central Energy Braham, MN | $351,028,810 | $133,197,154 |
Saint Therese Communities St Louis Park, MN | $121,765,844 | $46,911,248 |
Sioux Falls Environmental Access Inc Sioux Falls, SD | $7,756,758 | $3,855,352 |
Minnesota Center For Environmental Advocacy Saint Paul, MN | $4,803,986 | $3,527,564 |
Taliesin Preservation Inc Spring Green, WI | $4,141,300 | $2,912,475 |
Halter Wildlife Inc Pleasant Prairie, WI | $2,698,381 | $1,665,084 |
St Paul Transportation Management Organization Saint Paul, MN | $798,950 | $1,352,019 |
White Earth Rediscovery Center White Earth, MN | $13,477,224 | $170,141 |
Minnesota Forest Industries Inc Duluth, MN | $382,538 | $785,019 |
Clean Energy Economy Minnesota Minneapolis, MN | $198,416 | $664,959 |
Alpha Pi Alliance For The Preserva Tion Of Historic Places Inc Verona, WI | $16,278 | $246,592 |