Springville Cooperative Telephone Association Inc
- Assets
- $9.0m
- Revenue
- $2.3m
- Investments
- $1.5m
- Employees
- 7
- Location
- Springville, IA
- Founding
- 01/1989
- Data as of
- 12/2023
- EIN
- 42-0819110
Organization Overview
Springville Cooperative Telephone Association Inc is located in Springville, IA. The organization was established in 1989. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Springville Cooperative Telephone Association Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Springville Cooperative Telephone Association Inc 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, Springville Cooperative Telephone Association Inc generated $2.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $2.1m during the year ending 12/2023. While expenses have increased by 2.9% per year over the past 6 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
TO PROVIDE TELECOMMUNICATIONS EXCHANGE AND LOCAL ACCESS SERVICES AND INTERNET SERVICES IN A SERVICE AREA LOCATED PRIMARILY IN LINN COUNTY, IOWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE TELECOMMUNICATIONS EXCHANGE AND LOCAL ACCESS SERVICES AND INTERNET SERVICES IN A SERVICE AREA LOCATED PRIMARILY IN LINN COUNTY, IOWA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director/vice President | OfficerTrustee | 1 | $1,100 |
Name Not Listed Director/president | OfficerTrustee | 1 | $1,320 |
Name Not Listed Director | Trustee | 1 | $1,100 |
Name Not Listed Director | Trustee | 1 | $1,100 |
Name Not Listed Director | Trustee | 1 | $1,100 |
Name Not Listed Director/secretary | Trustee | 1 | $1,440 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Triple J Construction Fiber Installation | 12/30/23 | $563,112 |
Mark's Underground Fiber Installation | 12/30/23 | $497,209 |
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 | $2,120,399 |
| Investment income | $191,485 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,663 |
| 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 | $2,326,038 |
| 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 | $400,000 |
| Compensation of current officers, directors, key employees. | $88,614 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $167,417 |
| Pension plan accruals and contributions | $27,614 |
| Other employee benefits | $138,331 |
| Payroll taxes | $62,428 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,329 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,966 |
| Office expenses | $1,287 |
| Information technology | $2,979 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $422,604 |
| Insurance | $0 |
| All other expenses | $16,793 |
| Total functional expenses | $2,130,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,967 |
| Savings and temporary cash investments | $990 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,920 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,439 |
| Net Land, buildings, and equipment | $5,069,369 |
| Investments—publicly traded securities | $1,811,583 |
| Investments—other securities | $1,520,075 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $268,059 |
| Total assets | $8,963,402 |
| Accounts payable and accrued expenses | $105,567 |
| Grants payable | $0 |
| Deferred revenue | $10,980 |
| 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 | $199,800 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,010 |
| Total liabilities | $317,357 |
| 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 | $8,646,045 |
| Total liabilities and net assets/fund balances | $8,963,402 |