Access Energy Cooperative
- Assets
- $108.8m
- Revenue
- $39.6m
- Investments
- $21.2m
- Employees
- 46
- Location
- Mt Pleasant, IA
- Founding
- 10/1939
- Data as of
- 12/2023
- EIN
- 42-0503322
Organization Overview
Access Energy Cooperative is located in Mt Pleasant, 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, Access Energy Cooperative employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Access Energy Cooperative 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, Access Energy Cooperative generated $39.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $37.6m during the year ending 12/2023. While expenses have increased by 4.5% 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
DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMER
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Barker Director | Trustee | 7.9 | $11,135 |
Robert Chestnut III Vice President | OfficerTrustee | 6 | $9,385 |
Fred Hickenbottom Director | Trustee | 5 | $9,635 |
Dave Hollingsworth Director | Trustee | 8.2 | $9,135 |
Mike Holtkamp Secretary | OfficerTrustee | 5.4 | $10,385 |
Marvin Larson President | OfficerTrustee | 5.9 | $10,620 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kiowa Line Builders Inc Construction | 12/30/23 | $878,339 |
Wilderness Land Management Brush | 12/30/23 | $821,145 |
Crc Trenching Co Boring | 12/30/23 | $144,676 |
Usic Receivables Llc Locating | 12/30/23 | $115,573 |
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 | $39,120,352 |
| Investment income | $485,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,751 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,618,237 |
| 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 | $1,257,170 |
| Compensation of current officers, directors, key employees. | $454,883 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $995,379 |
| 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 | $1,690,945 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,341,918 |
| Insurance | $0 |
| All other expenses | $656,985 |
| Total functional expenses | $37,555,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $796,399 |
| Savings and temporary cash investments | $6,633,019 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,417,262 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,101,012 |
| Inventories for sale or use | $1,647,915 |
| Prepaid expenses and deferred charges | $78,704 |
| Net Land, buildings, and equipment | $70,021,040 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $21,212,891 |
| Investments—program-related | $0 |
| Intangible assets | $10,861 |
| Other assets | $888,040 |
| Total assets | $108,807,143 |
| Accounts payable and accrued expenses | $4,178,364 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $43,302,441 |
| Other liabilities | $2,486,662 |
| Total liabilities | $49,967,467 |
| 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 | $6,027 |
| Retained earnings, endowment, accumulated income, or other funds | $58,833,649 |
| Total liabilities and net assets/fund balances | $108,807,143 |