Corn Belt Power Cooperative is located in Humboldt, IA. The organization was established in 1949. 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, Corn Belt Power Cooperative employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corn Belt Power 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, Corn Belt Power Cooperative generated $168.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $167.6m during the year ending 12/2022. While expenses have increased by 3.2% 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
GENERATING AND TRANSMITTING ELECTRICAL ENERGY TO OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EACH ACTIVITY IS PART OF THE WHOLE PROCESS OF GENERATING AND TRANSMITTING ELECTRICAL ENERGY TO OUR 9 MEMBER RURAL SERVICE COOPERATIVES AND OUR ONE MEMBER MUNICIPAL ELECTRICAL COOPERATIVE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kenneth H Kuyper Executive VP And General Manager | Officer | 40 | $354,038 |
Karen K Berte Sr VP Finance And Administration | Officer | 40 | $217,165 |
Kevin W Bornhoft VP Engineering And System Operations | Officer | 40 | $200,251 |
Jacob Olberding VP Power Supply | Officer | 40 | $195,429 |
Ryan Cornelius VP Corporate Relations | Officer | 40 | $171,985 |
Patrick Connor Plant Manager | 40 | $155,918 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Sullivan & Ward Pc Legal Services | 12/30/22 | $192,484 |
Burns & Mcdonell Engineering Consulting | 12/30/22 | $158,529 |
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 | $167,546,382 |
Investment income | $350,347 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $4,635 |
Net Gain/Loss on Asset Sales | $991,391 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $168,893,187 |
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 | $23,810,000 |
Compensation of current officers, directors, key employees. | $1,840,582 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,606,416 |
Pension plan accruals and contributions | $1,655,742 |
Other employee benefits | $1,024,836 |
Payroll taxes | $625,014 |
Fees for services: Management | $0 |
Fees for services: Legal | $68,932 |
Fees for services: Accounting | $42,500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $115,042 |
Advertising and promotion | $988,473 |
Office expenses | $148,773 |
Information technology | $281,786 |
Royalties | $0 |
Occupancy | $0 |
Travel | $497,090 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $305,251 |
Interest | $8,014,039 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $13,817,596 |
Insurance | $497,201 |
All other expenses | $1,004,968 |
Total functional expenses | $167,570,093 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $4,004,857 |
Savings and temporary cash investments | $8,355,594 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $15,302,218 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $11,826,763 |
Inventories for sale or use | $16,106,276 |
Prepaid expenses and deferred charges | $9,024 |
Net Land, buildings, and equipment | $277,346,333 |
Investments—publicly traded securities | $57,291,664 |
Investments—other securities | $0 |
Investments—program-related | $2,498,057 |
Intangible assets | $342,494 |
Other assets | $122,525,465 |
Total assets | $515,608,745 |
Accounts payable and accrued expenses | $14,564,343 |
Grants payable | $0 |
Deferred revenue | $3,709,390 |
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 | $207,133,220 |
Unsecured mortgages and notes payable | $32,104,016 |
Other liabilities | $73,057,995 |
Total liabilities | $330,568,964 |
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 | $120,386,828 |
Retained earnings, endowment, accumulated income, or other funds | $64,652,953 |
Total liabilities and net assets/fund balances | $515,608,745 |
Organization Name | Assets | Revenue |
---|---|---|
Dairyland Power Cooperative La Crosse, WI | $1,543,973,952 | $466,517,279 |
East River Electric Power Cooperative Inc Madison, SD | $750,935,062 | $299,322,334 |
Nebraska Electric Generation And Transmission Cooperative Inc Columbus, NE | $24,698,351 | $237,875,387 |
Central Electric Power Cooperative Jefferson City, MO | $478,589,080 | $224,762,707 |
Dakota Electric Association Farmington, MN | $386,937,429 | $228,776,645 |
Central Iowa Power Cooperative Cedar Rapids, IA | $899,434,034 | $189,203,690 |
National Electrical Contractors Association Inc Kansas City, MO | $2,543,076 | $175,759,939 |
Corn Belt Power Cooperative Humboldt, IA | $515,608,745 | $168,893,187 |
Southern Illinois Power Cooperative Marion, IL | $684,387,502 | $167,555,011 |
Prairie Power Inc Springfield, IL | $704,846,695 | $159,851,306 |
Citizens Electric Corporation Perryville, MO | $190,238,434 | $155,506,076 |
Cuivre River Electric Cooperative Incorporated Troy, MO | $339,510,149 | $127,588,100 |