T I P Rural Electric Cooperative
- Assets
- $57.3m
- Revenue
- $17.1m
- Investments
- $0.0
- Employees
- 33
- Location
- Brooklyn, IA
- Founding
- 08/1939
- Data as of
- 12/2022
- EIN
- 42-0557125
Organization Overview
T I P Rural Electric Cooperative is located in Brooklyn, 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 12/2022, T I P Rural Electric Cooperative employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. T I P 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, T I P Rural Electric Cooperative generated $17.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $17.0m during the year ending 12/2022. While expenses have increased by 0.8% 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
PROVIDING ELECTRIC SERVICE TO 5,039 MEMBERS (6,553 ACCOUNTS)
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE SOLD 148,489,757 KILOWATT HOURS OF ELECTRIC ENERGY TO ITS 5,039 MEMBER CONSUMERS DURING 2022 FOR RECORDED PROGRAM SERVICE REVENUE OF $16,403,258. THIS REPRESENTS 96% OF THE TOTAL REVENUE FOR THE COOPERATIVE FOR CALENDAR YEAR 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Huls General Manager | Officer | 48.4 | $188,611 |
Terry Kloppenburg Financial Manager | 49.3 | $111,992 | |
Scott Long Operations Manager | 53.1 | $110,640 | |
Nathan Hopwood It Manager | 42.2 | $105,028 | |
Cole Calkins Staking Technician/member | 43.5 | $104,815 | |
Gene Von Ahsen President | OfficerTrustee | 9.1 | $21,333 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Martin Gardner Architecture Construction | 12/30/22 | $664,188 |
Merit Construction Company Construction | 12/30/22 | $224,427 |
Schrader Excavating & Grading Construction | 12/30/22 | $215,025 |
Sbs Inspections Inc Pole Testing & Treating | 12/30/22 | $102,993 |
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 | $16,403,257 |
| Investment income | $236,555 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $17,059,790 |
| 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 | $938,786 |
| Compensation of current officers, directors, key employees. | $393,977 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,062,325 |
| Pension plan accruals and contributions | $489,076 |
| Other employee benefits | $72,158 |
| Payroll taxes | $170,865 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,477 |
| Fees for services: Accounting | $24,624 |
| 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 | $1,091,367 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,275,249 |
| Insurance | $0 |
| All other expenses | -$1,098,047 |
| Total functional expenses | $17,010,678 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,948 |
| Savings and temporary cash investments | $5,185,350 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,869,867 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,345,314 |
| Prepaid expenses and deferred charges | $1,302,731 |
| Net Land, buildings, and equipment | $36,196,392 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,610,237 |
| Intangible assets | $0 |
| Other assets | $4,780,628 |
| Total assets | $57,344,467 |
| Accounts payable and accrued expenses | $2,663,394 |
| 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 | $27,464,250 |
| Other liabilities | $6,131 |
| Total liabilities | $30,133,775 |
| 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 | $27,210,692 |
| Total liabilities and net assets/fund balances | $57,344,467 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Tri-County Electric Cooperative Mount Vernon, IL | $133,948,921 | $48,522,537 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Semo Electric Cooperative Sikeston, MO | $155,297,219 | $43,598,236 |
Oakdale Electric Cooperative Oakdale, WI | $108,949,694 | $41,848,166 |
Norris Electric Cooperative Newton, IL | $122,679,839 | $43,756,656 |
Barron Electric Cooperative Barron, WI | $83,238,959 | $40,823,389 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
Egyptian Electric Cooperative Association Murphysboro, IL | $103,786,705 | $42,170,209 |
Riverland Energy Cooperative Arcadia, WI | $120,553,523 | $39,958,076 |