Nishnabotna Valley Rural Electric Cooperative
- Assets
- $49.2m
- Revenue
- $18.9m
- Investments
- $493.8k
- Employees
- 24
- Location
- Harlan, IA
- Founding
- 11/1940
- Data as of
- 12/2022
- EIN
- 42-0519838
Organization Overview
Nishnabotna Valley Rural Electric Cooperative is located in Harlan, IA. The organization was established in 1940. 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, Nishnabotna Valley Rural Electric Cooperative employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nishnabotna Valley Rural Electric 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 12/2022, Nishnabotna Valley Rural Electric Cooperative generated $18.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $18.0m during the year ending 12/2022. While expenses have increased by 1.5% 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
PROVIDE SAFE AND RELIABLE ELECTRIC SERVICES TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 175,384,585 KWH OF ELECTRICITY TO APPROXIMATELY 2,556 MEMBERS, WHILE MAINTAINING SYSTEM RELIABILITY AS A WHOLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darrell Stamp President | OfficerTrustee | 2.8 | $7,700 |
Gene Kenkel Vice President | OfficerTrustee | 2.5 | $7,475 |
Bryan Greve Secretary-Treasurer | OfficerTrustee | 1.6 | $3,875 |
Donna Olson Director | Trustee | 4.4 | $7,025 |
Thomas Pattee Director | Trustee | 2.2 | $4,325 |
Galen Grabill Director | Trustee | 1.1 | $5,450 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Enovus Management Coop Management Services | 12/30/22 | $443,079 |
Schraeder Electric Llc Contractor | 12/30/22 | $268,510 |
National Information Solutions Coop Software Contractor | 12/30/22 | $107,926 |
Loosbrock Digging Service Contractor | 12/30/22 | $104,156 |
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 | $18,908,234 |
| Investment income | $44,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$36,231 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,916,306 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,144 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,442,342 |
| Compensation of current officers, directors, key employees. | $166,755 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $829,431 |
| Pension plan accruals and contributions | $234,958 |
| Other employee benefits | $151,860 |
| Payroll taxes | $67,775 |
| Fees for services: Management | $140,199 |
| Fees for services: Legal | $6,221 |
| Fees for services: Accounting | $15,180 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $307,102 |
| Advertising and promotion | $2,958 |
| Office expenses | $38,110 |
| Information technology | $20,088 |
| 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 | $103,021 |
| Interest | $871,482 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,555,417 |
| Insurance | $9,067 |
| All other expenses | $234,423 |
| Total functional expenses | $18,045,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,324,295 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,594,924 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $302,640 |
| Inventories for sale or use | $1,945,149 |
| Prepaid expenses and deferred charges | $216,135 |
| Net Land, buildings, and equipment | $35,096,679 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $493,840 |
| Investments—program-related | $8,251,715 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,225,377 |
| Accounts payable and accrued expenses | $1,310,449 |
| Grants payable | $0 |
| Deferred revenue | $328,005 |
| 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 | $21,842,282 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $89,188 |
| Total liabilities | $23,569,924 |
| 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 | $25,655,453 |
| Total liabilities and net assets/fund balances | $49,225,377 |