Macon Electric Cooperative
- Assets
- $74.0m
- Revenue
- $26.5m
- Investments
- $0.0
- Employees
- 51
- Location
- Macon, MO
- Founding
- 08/1941
- Data as of
- 12/2021
- EIN
- 43-0388909
Organization Overview
Macon Electric Cooperative is located in Macon, MO. The organization was established in 1941. 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, Macon Electric Cooperative employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Macon 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, Macon Electric Cooperative generated $26.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $26.3m during the year ending 12/2021. While expenses have increased by 1.6% 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
DEDICATED TO PROVIDING OUR MEMBER-OWNERS WITH QUALITY AND RELIABLE ELECTRIC SERVICE AT THE LOWEST POSSIBLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC SERVICE TO THE MEMBERS OF THE COOPERATIVE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Korman General Manager | Officer | 50 | $150,374 |
Kenneth Fuller Construction Foreman | 46 | $111,416 | |
Nick Stueve Lead Lineman | 47 | $110,256 | |
Benjamin Williams Lineman | 47 | $108,072 | |
Lucas Roberts Lineman | 47 | $107,799 | |
Michael Perotti Lineman | 47 | $107,476 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressive Solutions Llc Oh Line Maintenance | 12/30/21 | $115,150 |
T And T Tree Service Row Maintenance | 12/30/21 | $420,137 |
Scobee Powerline Construction Llc Line Construction | 12/30/21 | $738,700 |
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 | $26,495,096 |
| Investment income | $32,790 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $26,527,886 |
| 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 | $1,660,682 |
| Compensation of current officers, directors, key employees. | $490,984 |
| 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 | $1,144,762 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,343,319 |
| Insurance | $0 |
| All other expenses | $866,707 |
| Total functional expenses | $26,277,764 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $873,138 |
| Savings and temporary cash investments | $1,595,283 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,123,145 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $212,735 |
| Prepaid expenses and deferred charges | $1,128,984 |
| Net Land, buildings, and equipment | $52,630,891 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,474,998 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $74,039,174 |
| Accounts payable and accrued expenses | $3,328,505 |
| Grants payable | $0 |
| Deferred revenue | $812,658 |
| 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 | $38,132,558 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $332,624 |
| Total liabilities | $42,606,345 |
| 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 | $31,432,829 |
| Total liabilities and net assets/fund balances | $74,039,174 |
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 |