Rural Utility Solutions
- Assets
- $132.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Spencer, IA
- Founding
- 01/1978
- Data as of
- 03/2022
- EIN
- 42-1084280
Organization Overview
Rural Utility Solutions is located in Spencer, IA. The organization was established in 1978. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rural Utility Solutions 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 03/2022, Rural Utility Solutions generated $210.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (28.2%) each year. All expenses for the organization totaled $662.0 during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (36.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PROVIDING ASSISTANCE FOR RURAL COUNTIES IN NORTHWEST IOWA TO AID IN THE ECONOMIC DEVELOPMENT THROUGH THE INVOLVEMENT OF WATER AND WASTEWATER SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Hanson Chair | 1 | $0 | |
Richard Dirkx Treasurer | 1 | $0 | |
Peter Maisenbach Board Member | 1 | $0 | |
Bill Moore Vice Chair | 1 | $0 | |
Kathy Day Secretary | 1 | $0 | |
Jason Espenson Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $210 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $210 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $100 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $562 |
| Total expenses | $662 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $132,127 |
| Other assets | $0 |
| Total assets | $132,127 |
| Total liabilities | $39 |
| Net assets or fund balances | $132,088 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Illinois Electrical Coop Carthage, IL | $25,735,291 | $9,998,239 |
Taylor Electric Cooperative Medford, WI | $26,668,317 | $9,925,424 |
Grundy County Rural Electric Cooperative Grundy Center, IA | $25,480,735 | $9,712,208 |
North Itasca Electric Coop Inc Bigfork, MN | $32,719,376 | $9,276,458 |
Woodbury Co Rural Electric Cooperative Moville, IA | $29,447,926 | $9,801,005 |
Clay-Union Electric Corporation Vermillion, SD | $38,295,961 | $9,060,805 |
Rosebud Electric Cooperative Inc Gregory, SD | $32,506,970 | $8,797,386 |
Franklin Rural Electric Coop Hampton, IA | $19,806,688 | $8,127,748 |
Rushmore Electric Power Cooperative Inc Rapid City, SD | $66,615,714 | $7,530,453 |
Nebraska Municipal Power Pool Lincoln, NE | $2,106,439 | $8,125,325 |
Richland Electric Cooperative Richland Center, WI | $27,318,323 | $8,213,321 |
Howard Electric Cooperative Fayette, MO | $26,616,692 | $7,850,430 |