Boone Electric Cooperative
- Assets
- $219.6m
- Revenue
- $72.7m
- Investments
- $0.0
- Employees
- 103
- Location
- Columbia, MO
- Founding
- 02/1938
- Data as of
- 12/2023
- EIN
- 43-0188985
Organization Overview
Boone Electric Cooperative is located in Columbia, MO. The organization was established in 1938. 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 12/2023, Boone Electric Cooperative employed 103 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boone 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 12/2023, Boone Electric Cooperative generated $72.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $68.2m during the year ending 12/2023. While expenses have increased by 2.5% per year over the past 9 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 ELECTRICITY TO OUR COOPERATIVE MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RETAIL SALE OF ELECTRICITY TO MEMBERS, OWNERS AND CONSUMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Culley CEO | Officer | 50 | $322,976 |
Vicki Kemna Assistant Manager | Officer | 50 | $218,430 |
Ryan Euliss Cfo/manager Of Finance | Officer | 50 | $197,584 |
James Goodnight Operations Manager | Officer | 45 | $171,077 |
Andrew Petri Manager Of Engineering And | Officer | 45 | $165,281 |
Laura Baker Mgr Member Svcs | 45 | $144,654 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hentges Tree Service Inc Row Clearing | 12/30/23 | $639,291 |
Burbridge Tree Service Llc Row Clearing | 12/30/23 | $637,725 |
Coil Construction Co Construction | 12/30/23 | $583,402 |
Nisc Software | 12/30/23 | $522,500 |
Vegetation Management & Control Llc Row Clearing | 12/30/23 | $484,825 |
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 | $72,517,881 |
| Investment income | $206,880 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,743 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $72,698,018 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $248,913 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,314,309 |
| Compensation of current officers, directors, key employees. | $932,432 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $4,822,200 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,706,373 |
| Insurance | $0 |
| All other expenses | $3,168,029 |
| Total functional expenses | $68,204,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,035,488 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,525,794 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,849,644 |
| Prepaid expenses and deferred charges | $141,720 |
| Net Land, buildings, and equipment | $166,468,519 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $39,588,728 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $219,609,893 |
| Accounts payable and accrued expenses | $9,076,475 |
| 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 | $117,391,644 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,179,911 |
| Total liabilities | $127,648,030 |
| 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 | $91,961,863 |
| Total liabilities and net assets/fund balances | $219,609,893 |