Laclede Electric Cooperative
- Assets
- $230.2m
- Revenue
- $74.7m
- Investments
- $0.0
- Employees
- 135
- Location
- Lebanon, MO
- Founding
- 06/1940
- Data as of
- 12/2023
- EIN
- 44-0319785
Organization Overview
Laclede Electric Cooperative is located in Lebanon, 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 12/2023, Laclede Electric Cooperative employed 135 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laclede 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 12/2023, Laclede Electric Cooperative generated $74.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $74.7m during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 9 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
PROVIDE ELECTRICITY SERVICE TO RURAL MEMBERS ON A NON-PROFIT COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICITY SERVICE TO RURAL MEMBERS ON A NON-PROFIT COOPERATIVE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth D Bishop Vice President | OfficerTrustee | 8.31 | $32,681 |
Joel Cravens President | OfficerTrustee | 9.31 | $24,226 |
Jack W Harris Jr Director | Trustee | 8.19 | $22,451 |
W Melvin Hoffman Treasurer | OfficerTrustee | 4.94 | $30,581 |
Randall Little Director | Trustee | 12.48 | $15,596 |
Carl Lowrance Director | Trustee | 10.11 | $19,815 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Asplundh Tree Expert Company Right Of Way Clearing | 12/30/23 | $3,567,423 |
Consolidated Oil Field Services Inc Electric Line Construction Work | 12/30/23 | $1,292,872 |
National Information Solutions Provide Software Support,print And Mailr | 12/30/23 | $721,209 |
Ce Meyer Llc Excavation And Line Repair | 12/30/23 | $469,390 |
True Construction Inc Headquarters Remodel Project | 12/30/23 | $274,655 |
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 | $73,393,501 |
| Investment income | $349,267 |
| 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 | $74,741,807 |
| 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 | $2,963,260 |
| Compensation of current officers, directors, key employees. | $747,997 |
| 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 | $3,702,318 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,194,696 |
| Insurance | $0 |
| All other expenses | $366,678 |
| Total functional expenses | $74,741,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,378,111 |
| Savings and temporary cash investments | $2,473,327 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,912,512 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,506,204 |
| Prepaid expenses and deferred charges | $691,269 |
| Net Land, buildings, and equipment | $185,948,780 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,267,575 |
| Total assets | $230,177,778 |
| Accounts payable and accrued expenses | $10,426,170 |
| 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 | $95,738,958 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,040,843 |
| Total liabilities | $129,205,971 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $597,495 |
| Paid-in or capital surplus, or land, building, or equipment fund | $100,374,312 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $230,177,778 |