Boone Electric Cooperative
- Assets
- $200.8m
- Revenue
- $65.1m
- Investments
- $0.0
- Employees
- 106
- Location
- Columbia, MO
- Founding
- 02/1938
- Data as of
- 12/2021
- 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 12/2021, Boone Electric Cooperative employed 106 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 12/2021, Boone Electric Cooperative generated $65.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $59.2m during the year ending 12/2021. While expenses have increased by 1.1% per year over the past 7 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
2021
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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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Culley CEO | Officer | 50 | $254,434 |
Vicki Kemna Assistant Manager | Officer | 42 | $185,290 |
Ryan Euliss Cfo/manager Of Finance | Officer | 50 | $170,661 |
Andrew Petri Manager Of Engineering And | 42 | $141,047 | |
James Goodnight Operations Manager | 42 | $137,804 | |
Robert Hawkins Line Foreman | 47 | $128,366 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Graybar Electric Co Electric Distribution Equipment | 12/30/21 | $912,429 |
Vegetation Management & Control Llc Row Clearing | 12/30/21 | $451,150 |
Burbridge Tree Service Llc Row Clearing | 12/30/21 | $389,742 |
Selcon Const Construction | 12/30/21 | $275,766 |
Hentges Tree Service Inc Row Clearing | 12/30/21 | $380,479 |
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 | $65,926,513 |
| Investment income | $135,639 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$947,347 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,114,805 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $217,735 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,293,080 |
| Compensation of current officers, directors, key employees. | $788,587 |
| 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 | $4,441,439 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,159,638 |
| Insurance | $0 |
| All other expenses | $2,762,295 |
| Total functional expenses | $59,198,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,809,885 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,331,656 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $36,000 |
| Inventories for sale or use | $1,987,424 |
| Prepaid expenses and deferred charges | $105,510 |
| Net Land, buildings, and equipment | $139,776,366 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $37,356,059 |
| Intangible assets | $0 |
| Other assets | $422,836 |
| Total assets | $200,825,736 |
| Accounts payable and accrued expenses | $10,312,414 |
| 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 | $106,865,711 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,247,277 |
| Total liabilities | $118,425,402 |
| 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 | $82,400,334 |
| Total liabilities and net assets/fund balances | $200,825,736 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Tri-County Electric Cooperative Inc Hooker, OK | $321,398,945 | $100,998,279 |
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Holston Electric Cooperative Inc Rogersville, TN | $140,432,181 | $97,958,544 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
Sequachee Valley Electric Cooperative South Pittsburg, TN | $165,775,520 | $105,669,415 |