Pella Cooperative Electric Association
- Assets
- $30.8m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 19
- Location
- Pella, IA
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 42-0461075
Organization Overview
Pella Cooperative Electric Association is located in Pella, IA. The organization was established in 1937. 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 12/2022, Pella Cooperative Electric Association employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pella Cooperative Electric Association 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 12/2022, Pella Cooperative Electric Association generated $8.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $7.7m during the year ending 12/2022. While expenses have increased by 2.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION COOPERATIVE PROVIDING ELECTRIC SERVICE FOR FIVE COUNTIES IN SOUTH CENTRAL IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE PROVIDES ELECTRIC DISTRIBUTION SERVICE TO APPROXIMATELY 3000 MEMBER-CONSUMERS IN JASPER, MAHASKA, MARION, POWESHIEK, AND WARREN COUNTIES, IOWA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Duane Ver Ploeg President | OfficerTrustee | 3.36 | $6,550 |
Steve Inskeep Vice President | OfficerTrustee | 7.9 | $11,810 |
Robert Van Soelen Treasurer | OfficerTrustee | 4.43 | $9,360 |
Bryce Arkema Secretary | OfficerTrustee | 6.15 | $14,170 |
Darrell Boot Asst Secretary/treasurer | OfficerTrustee | 2.86 | $6,855 |
Jon Van Woerkom Director | Trustee | 7.11 | $8,930 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pike Electric Llc Electrical Construction Contractor Used | 12/30/15 | $4,287,006 |
Coddington Inc Tree Trimming | 12/30/15 | $153,610 |
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 | $7,970,040 |
| Investment income | $42,605 |
| 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 | $28 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,189,747 |
| 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 | $191,912 |
| Compensation of current officers, directors, key employees. | $244,249 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $415,224 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $567,394 |
| Insurance | $0 |
| All other expenses | $611,622 |
| Total functional expenses | $7,741,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $689,955 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,781,435 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $452,059 |
| Prepaid expenses and deferred charges | $54,887 |
| Net Land, buildings, and equipment | $21,878,640 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $5,892,395 |
| Intangible assets | $4,820 |
| Other assets | $48,319 |
| Total assets | $30,802,510 |
| Accounts payable and accrued expenses | $846,646 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $14,394,955 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $47,810 |
| Total liabilities | $15,289,411 |
| 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 | $15,513,099 |
| Total liabilities and net assets/fund balances | $30,802,510 |