Allamakee-Clayton Electric Cooperative Inc
- Assets
- $67.7m
- Revenue
- $21.6m
- Investments
- $950.2k
- Employees
- 43
- Location
- Postville, IA
- Founding
- 10/1939
- Data as of
- 12/2021
- 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 12/2021, Allamakee-Clayton Electric Cooperative Inc employed 43 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 12/2021, Allamakee-Clayton Electric Cooperative Inc generated $21.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $21.4m during the year ending 12/2021. While expenses have increased by 1.5% 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
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 MORE THAN 10,000 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.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hollee Mccormick Executive VP & Gen Manager | Officer | 44 | $129,512 |
David Decker CFO | Officer | 52.4 | $112,640 |
Josh Abbott Lead Linemen | 46.9 | $106,039 | |
Jeffrey Bradley President | OfficerTrustee | 5.8 | $9,000 |
Jerry Keleher Director | Trustee | 3.3 | $8,500 |
Roger Arthur Director | Trustee | 5 | $8,250 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
West Union Trenching Underground Trenching Services | 12/30/21 | $4,676,942 |
Tjader & Highstrom Utility Services Electric Line Construction | 12/30/21 | $237,943 |
R&s Fiberoptic Services Consulting And Fiberoptic Internet Devel | 12/30/21 | $999,421 |
Asplundh Tree Expert Company Tree Cutting And Vegetation Management | 12/30/21 | $806,156 |
New Age Tree Service Tree Cutting And Vegetation Management | 12/30/21 | $259,365 |
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 | $21,509,449 |
| Investment income | $110,176 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,886 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,615,739 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,455 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $791,462 |
| Compensation of current officers, directors, key employees. | $399,599 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,730,454 |
| Pension plan accruals and contributions | $667,172 |
| Other employee benefits | $0 |
| Payroll taxes | $228,069 |
| 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 | $995,839 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,086,743 |
| Insurance | $0 |
| All other expenses | -$858,504 |
| Total functional expenses | $21,365,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $796,862 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,533,661 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $735,049 |
| Prepaid expenses and deferred charges | $154,396 |
| Net Land, buildings, and equipment | $46,790,399 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $950,181 |
| Investments—program-related | $11,737,267 |
| Intangible assets | $0 |
| Other assets | $21,846 |
| Total assets | $67,719,661 |
| Accounts payable and accrued expenses | $3,638,172 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $33,372 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $31,160,440 |
| Unsecured mortgages and notes payable | $4,582,149 |
| Other liabilities | $1,136,597 |
| Total liabilities | $40,550,730 |
| 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 | $12,912,847 |
| Retained earnings, endowment, accumulated income, or other funds | $14,255,594 |
| Total liabilities and net assets/fund balances | $67,719,661 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Allamakee-Clayton Electric Cooperative Inc has recieved totaling $630.
| Awarding Organization | Amount |
|---|---|
Mcgregor Community Hospital Mcgregor, IA PURPOSE: LIFELINE | $630 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Tri-County Electric Cooperative Mount Vernon, IL | $133,948,921 | $48,522,537 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Semo Electric Cooperative Sikeston, MO | $155,297,219 | $43,598,236 |
Oakdale Electric Cooperative Oakdale, WI | $108,949,694 | $41,848,166 |
Norris Electric Cooperative Newton, IL | $122,679,839 | $43,756,656 |
Barron Electric Cooperative Barron, WI | $83,238,959 | $40,823,389 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
Egyptian Electric Cooperative Association Murphysboro, IL | $103,786,705 | $42,170,209 |
Riverland Energy Cooperative Arcadia, WI | $120,553,523 | $39,958,076 |