Citizens Electric Corporation
- Assets
- $189.6m
- Revenue
- $140.0m
- Investments
- $0.0
- Employees
- 90
- Location
- Perryville, MO
- Founding
- 03/1953
- Data as of
- 12/2023
- EIN
- 43-0634203
Organization Overview
Citizens Electric Corporation is located in Perryville, MO. The organization was established in 1953. 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, Citizens Electric Corporation employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Citizens Electric Corporation 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, Citizens Electric Corporation generated $140.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $132.8m during the year ending 12/2023. While expenses have increased by 1.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SALE OF ELECTRIC ENERGY TO THE COOPERATIVE'S MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE TO AN AVERAGE OF 27,525 MEMBERS WITH GROSS CONSUMPTION OF 1.649 BILLION KWH'S.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason D Cates CEO | Officer | 62 | $226,806 |
Curt Iffert VP Of Operations | 45 | $136,750 | |
Kent Kassel Superintendent | 55 | $123,726 | |
Steve Hlavek Engineering Supervisor | 48 | $128,366 | |
Steven Rohan Lineman Tech | 46 | $127,200 | |
Eric Besand Lineman Journeyman | 46 | $124,588 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Townsend Tree Service Line Clearing | 12/30/23 | $1,239,348 |
Paul Hastings Llp Consulting | 12/30/23 | $977,192 |
Milbank Llp Consultant | 12/30/23 | $229,879 |
Bridgewell Resources Supplier | 12/30/23 | $559,080 |
Cape Electrical Supply Supplier | 12/30/23 | $465,512 |
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 | $136,940,727 |
| Investment income | $3,077,354 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $122,608 |
| 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 | $140,040,021 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $1,098,489 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,590,207 |
| Pension plan accruals and contributions | $1,457,442 |
| Other employee benefits | $1,586,247 |
| Payroll taxes | $557,043 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,497,708 |
| Fees for services: Accounting | $24,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $335,731 |
| Advertising and promotion | $56,279 |
| Office expenses | $660,903 |
| Information technology | $995,340 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $457,908 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,846 |
| Interest | $1,728,623 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,863,889 |
| Insurance | $494,866 |
| All other expenses | $0 |
| Total functional expenses | $132,807,137 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,574,925 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,563,498 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,513,643 |
| Prepaid expenses and deferred charges | $117,280 |
| Net Land, buildings, and equipment | $125,651,164 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $34,600,733 |
| Intangible assets | $0 |
| Other assets | $533,277 |
| Total assets | $189,554,520 |
| Accounts payable and accrued expenses | $9,536,693 |
| 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 | $50,827,163 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,273,567 |
| Total liabilities | $67,637,423 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $82,645 |
| Paid-in or capital surplus, or land, building, or equipment fund | $15,059 |
| Retained earnings, endowment, accumulated income, or other funds | $121,819,393 |
| Total liabilities and net assets/fund balances | $189,554,520 |