Allamakee-Clayton Electric Cooperative Inc
- Assets
- $73.0m
- Revenue
- $24.3m
- Investments
- $2.5m
- Employees
- 48
- Location
- Postville, IA
- Founding
- 10/1939
- Data as of
- 12/2023
- EIN
- 42-0110380
Organization Overview
Allamakee-Clayton Electric Cooperative Inc is located in Postville, IA. The organization was established in 1939. 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 12/2023, Allamakee-Clayton Electric Cooperative Inc employed 48 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Allamakee-Clayton 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 12/2023, Allamakee-Clayton Electric Cooperative Inc generated $24.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $24.2m during the year ending 12/2023. While expenses have increased by 2.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICES AND RELATED INNOVATIONS IN TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE WAS ORGANIZED IN 1938 BY MEMBERS BECAUSE INVESTOR-OWNED UTILITIES BYPASSED RURAL IOWA DUE TO ITS SPARSE POPULATION. ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE PROVIDES ELECTRIC POWER TO 9,980 CUSTOMERS ON 2,524 MILES OF LINE IN PORTIONS OF EIGHT COUNTIES: ALLAMAKEE, CLAYTON, FAYETTE, WINNESHIEK, CHICKASAW, BREMER, DELAWARE AND DUBUQUE. OUR CUSTOMER BASE IS 95% FARM AND RURAL RESIDENTIAL AND MAINTAINS 24-HOUR AROUND-THE-CLOCK ELECTRIC SERVICE. CREWS ARE AVAILABLE TO ENSURE QUALITY SERVICE AT ALL TIMES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Bradley President | OfficerTrustee | 5.9 | $11,400 |
Michael Gibbs Vice President | OfficerTrustee | 3.9 | $9,000 |
Cynthia Heffern Secretary-Treasurer | OfficerTrustee | 6.2 | $8,550 |
Roger Arthur Director | Trustee | 4.2 | $7,500 |
Nelson Converse Director | Trustee | 3 | $9,600 |
Greg Formanek Director | Trustee | 2.3 | $7,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
R&s Fiberoptic Services Consulting And Fiberoptic Internet Devel | 12/30/23 | $605,578 |
West Union Trenching Underground Trenching Services | 12/30/23 | $1,726,020 |
Asplundh Tree Expert Company Tree Cutting And Vegetation Management | 12/30/23 | $418,849 |
New Age Tree Service Tree Cutting And Vegetation Management | 12/30/23 | $466,067 |
Tjader & Highstom Utility Services Electric Line Construction | 12/30/23 | $386,835 |
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 | $24,189,247 |
| Investment income | $111,040 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,579 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,313,866 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,387 |
| Grants and other assistance to domestic individuals. | $1,046 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $581,360 |
| Compensation of current officers, directors, key employees. | $474,245 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,994,071 |
| Pension plan accruals and contributions | $706,037 |
| Other employee benefits | $0 |
| Payroll taxes | $251,537 |
| 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 | $1,079,111 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,215,060 |
| Insurance | $0 |
| All other expenses | -$343,310 |
| Total functional expenses | $24,213,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $725,969 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,443,870 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,661,441 |
| Prepaid expenses and deferred charges | $409,385 |
| Net Land, buildings, and equipment | $52,734,887 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,491,519 |
| Investments—program-related | $12,513,889 |
| Intangible assets | $0 |
| Other assets | $23,391 |
| Total assets | $73,004,351 |
| Accounts payable and accrued expenses | $1,880,479 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $43,737 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $39,655,713 |
| Unsecured mortgages and notes payable | $2,668,722 |
| Other liabilities | $1,309,102 |
| Total liabilities | $45,557,753 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $490 |
| Paid-in or capital surplus, or land, building, or equipment fund | $13,376,447 |
| Retained earnings, endowment, accumulated income, or other funds | $14,069,661 |
| Total liabilities and net assets/fund balances | $73,004,351 |