Platte-Clay Electric Cooperative Inc
- Assets
- $192.7m
- Revenue
- $76.9m
- Investments
- $45.2m
- Employees
- 80
- Location
- Kearney, MO
- Founding
- 04/1940
- Data as of
- 12/2022
- EIN
- 44-0392918
Organization Overview
Platte-Clay Electric Cooperative Inc is located in Kearney, 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 12/2022, Platte-Clay Electric Cooperative Inc employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Platte-Clay 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 12/2022, Platte-Clay Electric Cooperative Inc generated $76.9m 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 $72.6m during the year ending 12/2022. While expenses have increased by 1.1% 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
PROVIDE THE DISTRIBUTION OF ELECTRIC SERVICE TO RURAL CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICAL SERVICE TO RURAL CUSTOMERS - TOTAL CONNECTIONS APPROXIMATELY 25,800
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Parkhurst Board Member - Vice-Presid | OfficerTrustee | 12 | $14,400 |
Edward Barger Board Member | Trustee | 10 | $5,600 |
Kendall Davis Board Member - Presid | OfficerTrustee | 12 | $23,800 |
Dennis Fulk Board Member | Trustee | 10 | $9,700 |
Mark Baker Board Member | Trustee | 20 | $3,600 |
Larry Leachman Board Member | OfficerTrustee | 4.2 | $9,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arkansas Electric Material Supplier | 12/30/22 | $4,250,542 |
Mitchell Tree Company Llc Tree Trimming | 12/30/22 | $1,584,351 |
Scobee Powerline Construction Distribution Maintenance | 12/30/22 | $1,200,149 |
Rm Pole Line Distribution Maintenance | 12/30/22 | $1,064,869 |
Northwest Missouri Tree Service Distribution Maintenance | 12/30/22 | $774,215 |
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 | $74,234,760 |
| Investment income | $39,637 |
| 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 | $76,880,883 |
| 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 | $3,324,635 |
| Compensation of current officers, directors, key employees. | $1,645,002 |
| 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 | $2,999,870 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,649,900 |
| Insurance | $0 |
| All other expenses | $6,034,380 |
| Total functional expenses | $72,595,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,655,695 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,175,975 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $232,229 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $136,392,806 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $45,172,998 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,055,563 |
| Total assets | $192,685,266 |
| Accounts payable and accrued expenses | $169,596 |
| 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 | $72,645,929 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,322,598 |
| Total liabilities | $85,138,123 |
| 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 | $107,547,143 |
| Total liabilities and net assets/fund balances | $192,685,266 |