New Mac Electric Cooperative Inc
- Assets
- $138.9m
- Revenue
- $48.0m
- Investments
- $0.0
- Employees
- 65
- Location
- Neosho, MO
- Founding
- 04/1940
- Data as of
- 12/2023
- EIN
- 44-0371025
Organization Overview
New Mac Electric Cooperative Inc is located in Neosho, 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, New Mac Electric Cooperative Inc employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mac Electric Cooperative Inc 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, New Mac Electric Cooperative Inc generated $48.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $48.0m during the year ending 12/2023. While expenses have increased by 2.0% 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
TO PROVIDE ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRICITY TO OUR MEMBERS - 19,367 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stanley Irsik Ceo/gm | Officer | 40 | $227,641 |
Bobby Harris Lineman | 59 | $165,885 | |
Kenneth Hickman Lineman | 54 | $150,675 | |
Brandon Bettels Lineman | 56 | $146,551 | |
Anthony Harvey Lineman | 52 | $142,423 | |
Cade Cornett Lineman | 55 | $141,221 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Southwest Tree Llc Right Of Way | 12/30/23 | $1,205,304 |
Arkansas Electric Cooperative Right Of Way | 12/30/23 | $744,779 |
Power Line Consultants Llc Construction | 12/30/23 | $794,144 |
Asplundh Tree Expert Co Right Of Way | 12/30/23 | $639,251 |
National Information Solutions Software Servic | 12/30/23 | $437,296 |
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 | $47,519,981 |
| Investment income | $350,562 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $98,288 |
| Net Gain/Loss on Asset Sales | -$1,381 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $82,197 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,049,781 |
| 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 | $4,565,084 |
| Compensation of current officers, directors, key employees. | $374,552 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $923,854 |
| 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 | $1,685,240 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,233,641 |
| Insurance | $0 |
| All other expenses | $6,565 |
| Total functional expenses | $48,049,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $931,977 |
| Savings and temporary cash investments | $2,000,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,066,462 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,726,722 |
| Prepaid expenses and deferred charges | $511,483 |
| Net Land, buildings, and equipment | $100,971,737 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $27,280,514 |
| Intangible assets | $0 |
| Other assets | $398,229 |
| Total assets | $138,887,124 |
| Accounts payable and accrued expenses | $7,018,449 |
| 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 | $42,772,240 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,584,208 |
| Total liabilities | $51,374,897 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $337,675 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,823,137 |
| Retained earnings, endowment, accumulated income, or other funds | $85,351,415 |
| Total liabilities and net assets/fund balances | $138,887,124 |