Consumers Energy
- Assets
- $64.0m
- Revenue
- $24.8m
- Investments
- $0.0
- Employees
- 25
- Location
- Marshalltown, IA
- Founding
- 08/1939
- Data as of
- 12/2023
- EIN
- 42-0396598
Organization Overview
Consumers Energy is located in Marshalltown, 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, Consumers Energy employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Consumers 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 12/2023, Consumers Energy generated $24.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $23.6m during the year ending 12/2023. While expenses have increased by 5.9% 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
SAFELY PROVIDING MEMBERS WITH RELIABLE ELECTRIC ENERGY SERVICE AT AFFORDABLE AND EQUITABLE RATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE PROVIDED ELECTRIC SERVICE TO A TOTAL OF 6,344 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denny Beckman President | OfficerTrustee | 7.5 | $9,545 |
Craig Griffieon Vice President | OfficerTrustee | 1.4 | $3,690 |
Patricia Vonahnen Secretary/treasurer | OfficerTrustee | 4.5 | $7,243 |
Robert Meimann Asst. Secretary/treasurer | OfficerTrustee | 2.4 | $4,430 |
Arden Greiner Director | Trustee | 4.1 | $4,377 |
William Hobson Director | Trustee | 2.3 | $4,045 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bolar & Gill Tree Service Tree Contractor | 12/30/23 | $300,125 |
Legacy Power Line Inc Electrical Contractor | 12/30/23 | $372,743 |
Vannguard Utility Partners Inc Underground Locator | 12/30/23 | $172,406 |
Crossroads Mobile Maintenance Mobile Mechanic | 12/30/23 | $161,614 |
Heartland Underground Underground Locator | 12/30/23 | $161,050 |
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 | $24,885,543 |
| Investment income | $111,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$67,976 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$124,861 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,804,115 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,350 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,008,423 |
| Compensation of current officers, directors, key employees. | $513,116 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,009,890 |
| Pension plan accruals and contributions | $485,211 |
| Other employee benefits | $0 |
| Payroll taxes | $178,714 |
| 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 | $1,272,970 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,266,483 |
| Insurance | $0 |
| All other expenses | -$2,312,661 |
| Total functional expenses | $23,603,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,839,309 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,728,750 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $383,362 |
| Inventories for sale or use | $3,143,769 |
| Prepaid expenses and deferred charges | $1,361,263 |
| Net Land, buildings, and equipment | $41,999,033 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $9,426,391 |
| Intangible assets | $0 |
| Other assets | $142,488 |
| Total assets | $64,024,365 |
| Accounts payable and accrued expenses | $2,327,542 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,907 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $29,413,899 |
| Unsecured mortgages and notes payable | $150,000 |
| Other liabilities | $2,028,385 |
| Total liabilities | $33,921,733 |
| 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 | $30,102,632 |
| Total liabilities and net assets/fund balances | $64,024,365 |