Hawkeye Tri-County Electric Cooperative DBA Hawkeye REC
- Assets
- $63.8m
- Revenue
- $25.4m
- Investments
- $697.1k
- Employees
- 42
- Location
- Cresco, IA
- Founding
- Data as of
- 12/2015
- EIN
- 42-0320323
Organization Overview
Hawkeye Tri-County Electric Cooperative DBA Hawkeye REC, operating under the name Hawkeye REC, is located in Cresco, IA. As of 12/2015, Hawkeye REC employed 42 individuals. Hawkeye REC 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ACCESS TO SAFE, DEPENDABLE AND AFFORDABLE ELECTRIC SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 5,464 MEMBERS LOCATED PRIMARILY IN RURAL AREAS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Krambeer Chief Executive Officer | Officer | 30 | $112,227 |
Dean Fisher President | OfficerTrustee | 6.6 | $11,590 |
Charles Frana Director | Trustee | 7.5 | $10,525 |
Darla Rance Director | Trustee | 4.9 | $9,025 |
Dennis Young Director | Trustee | 4.4 | $7,950 |
Dennis Ptacek Secretary/treasurer | OfficerTrustee | 2.8 | $6,180 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tjader & Highstrom Utility Services Llc Overhead Line Building | 12/30/15 | $2,432,770 |
Moll's Utility Services Llc Overhead Line Building | 12/30/15 | $1,521,735 |
Asplundh Tree Expert Co Tree Clearing/spraying | 12/30/15 | $523,205 |
Norby Tree Service Tree Clearing/spraying | 12/30/15 | $380,010 |
Tri-county Electric Coop Shared Ceo & Member Services Mgr | 12/30/15 | $342,374 |
View All Vendors
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 | $25,384,557 |
| Investment income | $25,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,505 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,412,318 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,225 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $687,447 |
| Compensation of current officers, directors, key employees. | $205,491 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,143,302 |
| Pension plan accruals and contributions | $386,655 |
| Other employee benefits | $0 |
| Payroll taxes | $163,963 |
| 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 | $1,418,336 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,573,477 |
| Insurance | $0 |
| All other expenses | -$1,697,538 |
| Total functional expenses | $24,724,871 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,988,876 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,129,006 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,864,024 |
| Inventories for sale or use | $1,235,773 |
| Prepaid expenses and deferred charges | $1,973,069 |
| Net Land, buildings, and equipment | $43,561,150 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $697,077 |
| Investments—program-related | $8,365,576 |
| Intangible assets | $0 |
| Other assets | $10,658 |
| Total assets | $63,825,209 |
| Accounts payable and accrued expenses | $2,754,269 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $12,446 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $35,224,671 |
| Unsecured mortgages and notes payable | $600,000 |
| Other liabilities | $2,985,524 |
| Total liabilities | $41,576,910 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $22,248,299 |
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