Grundy Electric Cooperative Incorporated
- Assets
- $55.8m
- Revenue
- $15.9m
- Investments
- $0.0
- Employees
- 39
- Location
- Trenton, MO
- Founding
- 01/1940
- Data as of
- 12/2021
- EIN
- 44-0270266
Organization Overview
Grundy Electric Cooperative Incorporated is located in Trenton, MO. The organization was established in 1940. 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, Grundy Electric Cooperative Incorporated employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grundy Electric Cooperative Incorporated 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, Grundy Electric Cooperative Incorporated generated $15.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $14.4m during the year ending 12/2021. While expenses have increased by 1.2% 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
COMMITTED TO PROVIDING THE MEMBERS WITH COMPETITIVELY PRICED, QUALITY ELECTRIC SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC SERVICE TO THE MEMBERSHIP OF THE COOPERATIVE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Wilson CEO & Manager | Officer | 50 | $198,077 |
Cathy Mckay Office Manager | Officer | 50 | $121,274 |
Jeff Pash Operations Manager | 50 | $115,652 | |
Scott Crawford Lead Lineman | 48 | $113,907 | |
Rick Gamble Jrny Lineman | 48 | $108,974 | |
Mason Larson Jrny Lineman | 47 | $108,471 |
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 | $15,859,389 |
| Investment income | $34,351 |
| 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 | $15,893,740 |
| 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 | $361,497 |
| Compensation of current officers, directors, key employees. | $498,472 |
| 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 | $927,490 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,236,171 |
| Insurance | $0 |
| All other expenses | $875,629 |
| Total functional expenses | $14,426,514 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,283,073 |
| Savings and temporary cash investments | $1,484,057 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,382,984 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $676,609 |
| Net Land, buildings, and equipment | $39,987,304 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,995,334 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $55,809,361 |
| Accounts payable and accrued expenses | $1,557,386 |
| 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 | $32,186,338 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,351,501 |
| Total liabilities | $35,095,225 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $25,185 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $20,688,951 |
| Total liabilities and net assets/fund balances | $55,809,361 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Shelby Energy Cooperative Inc Shelbyville, KY | $128,023,912 | $48,869,118 |
Tri-County Electric Cooperative Mount Vernon, IL | $133,948,921 | $48,522,537 |
Cumberland Valley Electric Co-Op Corp Gray, KY | $124,042,321 | $47,250,559 |
Rural Electric Co Op Inc Lindsay, OK | $94,050,768 | $47,989,459 |
Kiamichi Electric Cooperative Inc Wilburton, OK | $118,158,279 | $46,432,215 |
Pickwick Electric Cooperative Selmer, TN | $93,706,292 | $47,229,186 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |
C & L Electric Cooperative Corporation Star City, AR | $139,600,891 | $49,154,793 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |
Western Cooperative Electric Association Inc Wakeeney, KS | $116,000,475 | $44,441,643 |
Tennessee Valley Electric Cooperative Savannah, TN | $70,169,300 | $47,105,536 |