Macon Electric Cooperative
- Assets
- $75.5m
- Revenue
- $26.6m
- Investments
- $0.0
- Employees
- 52
- Location
- Macon, MO
- Founding
- 08/1941
- Data as of
- 12/2022
- 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 12/2022, Macon Electric Cooperative employed 52 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 12/2022, Macon Electric Cooperative generated $26.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $27.1m during the year ending 12/2022. While expenses have increased by 1.7% per year over the past 8 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
2022
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 | $162,577 |
Kenneth Fuller Construction Foreman | 46 | $113,474 | |
Rick Farmer Lead Lineman | 46 | $109,214 | |
Lucas Roberts Lineman | 47 | $108,762 | |
Danny Orbin Mgr Of Operations | 50 | $105,694 | |
Nick Stueve Lead Lineman | 44 | $103,335 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Scobee Powerline Construction Llc Line Construction | 12/30/22 | $960,054 |
T And T Tree Service Row Maintenance | 12/30/22 | $502,114 |
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 | $26,594,861 |
| Investment income | $38,196 |
| 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 | $26,633,057 |
| 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 | $1,407,416 |
| Compensation of current officers, directors, key employees. | $429,282 |
| 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 | $1,139,761 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,483,678 |
| Insurance | $0 |
| All other expenses | $898,497 |
| Total functional expenses | $27,061,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $975,627 |
| Savings and temporary cash investments | $279,472 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,166,602 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $381,452 |
| Prepaid expenses and deferred charges | $831,209 |
| Net Land, buildings, and equipment | $55,496,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,411,266 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $75,542,614 |
| Accounts payable and accrued expenses | $3,407,290 |
| Grants payable | $0 |
| Deferred revenue | $280,249 |
| 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 | $39,940,419 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $354,074 |
| Total liabilities | $43,982,032 |
| 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 | $31,560,582 |
| Total liabilities and net assets/fund balances | $75,542,614 |