Consolidated Telephone Company
- Assets
- $86.1m
- Revenue
- $35.7m
- Investments
- $2.1m
- Employees
- 82
- Location
- Brainerd, MN
- Founding
- 05/1968
- Data as of
- 12/2021
- EIN
- 41-0721924
Organization Overview
Consolidated Telephone Company is located in Brainerd, MN. The organization was established in 1968. 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, Consolidated Telephone Company employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Consolidated Telephone Company 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, Consolidated Telephone Company generated $35.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $35.9m during the year ending 12/2021. While expenses have increased by 4.8% 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
PROVIDE COMMUNICATION SOLUTIONS PROVIDING PRODUCTS AND SERVICES ENHANCING OUR CUSTOMERS' LIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH TECHNOLOGY LEADERSHIP, SMART GROWTH, AND COMMUNITY ENGAGEMENT, OUR COOPERATIVE DEMONSTRATES EXTRAORDINARY FOCUS TO POSITIVELY TRANSFORM THOSE WE SERVE, OUR 15,979 MEMBERS. CTC EMPOWERS OUR MEMBERS, EMPLOYEES AND COMMUNITIES THROUGH EXCEPTIONAL SERVICES AND LIFE CHANGING TECHNOLOGY SOLUTIONS FOR A SUSTAINABLE FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark N Roach CFO | Officer | 40 | $338,973 |
Kristi Westbrock Ceo/general Manager | Officer | 40 | $323,751 |
Lauren Johnson Account Executive | 40 | $187,726 | |
Joseph Butteiler Director Of Business Devel | 40 | $164,702 | |
Andrew Isackson Director Of Member Operati | 40 | $161,726 | |
Jason Atwater Director Of Network Operat | 40 | $157,503 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
North Central Services Inc Fiber Construction | 12/30/21 | $4,486,105 |
Ramstad Technologies Inc Fiber Splicing | 12/30/21 | $832,086 |
Eric's Excavating Inc Fiber Construction | 12/30/21 | $377,347 |
Cooperative Network Services Engineering | 12/30/21 | $300,324 |
Elite Underground Inc Fiber Construction | 12/30/21 | $1,924,426 |
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 | $34,789,235 |
| Investment income | $14,625 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $598,778 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,653,081 |
| 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 | $5,444,667 |
| Compensation of current officers, directors, key employees. | $1,017,866 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,240,296 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,586 |
| Fees for services: Accounting | $65,585 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $649,279 |
| 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 | $572,426 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,237,658 |
| Insurance | $0 |
| All other expenses | $1,845,583 |
| Total functional expenses | $35,870,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,702,463 |
| Savings and temporary cash investments | $2,033,424 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,589,466 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $312,064 |
| Inventories for sale or use | $2,605,013 |
| Prepaid expenses and deferred charges | $4,108,266 |
| Net Land, buildings, and equipment | $64,492,889 |
| Investments—publicly traded securities | $100,000 |
| Investments—other securities | $2,128,792 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $86,072,377 |
| Accounts payable and accrued expenses | $3,297,765 |
| Grants payable | $300,000 |
| Deferred revenue | $853,037 |
| 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 | $26,272,230 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,062,009 |
| Total liabilities | $31,785,041 |
| 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 | $54,287,336 |
| Total liabilities and net assets/fund balances | $86,072,377 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Consolidated Telephone Company has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Initiative Foundation Little Falls, MN PURPOSE: SUPPORT BROADBAND RESOURCES FOR EDUCATION NEEDS AND TELEHEALTH NEEDS RELATED TO COVID-19. | $10,000 |
Initiative Foundation Little Falls, MN PURPOSE: SUPPORT BROADBAND RESOURCES FOR EDUCATION NEEDS AND TELEHEALTH NEEDS RELATED TO COVID-19. | $10,000 |
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 |