Webster Electric Cooperative
- Assets
- $90.6m
- Revenue
- $38.9m
- Investments
- $0.0
- Employees
- 40
- Location
- Marshfield, MO
- Founding
- 10/1948
- Data as of
- 12/2023
- EIN
- 44-0516670
Organization Overview
Webster Electric Cooperative is located in Marshfield, MO. The organization was established in 1948. 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, Webster Electric Cooperative employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Webster 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, Webster Electric Cooperative generated $38.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $38.9m during the year ending 12/2023. While expenses have increased by 3.1% 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
TO PROVIDE ELECTRICITY TO OUR MEMBERS - 23,208 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 |
|---|---|---|---|
Thomas E Houston General Mana | Officer | 50 | $226,484 |
Shannon Beeler Line Superin | Officer | 48 | $130,430 |
Steven Alexander Line Foreman | 50 | $142,282 | |
Alan Letterman Meter Truck | 48 | $122,285 | |
Jeffrey Young Service Truc | 48 | $125,079 | |
Samuel Green Meter Truck | 50 | $129,951 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Asplundh Tree Expert Llc Row Contractor | 12/30/23 | $1,531,339 |
Consolidated Electric Services Pole Change | 12/30/23 | $1,380,989 |
Arkansas Electric Row Contractor | 12/30/23 | $829,968 |
Apex Row Llc Row Contractor | 12/30/23 | $110,233 |
Ditchbiz Mapping & Locating Locating & Map | 12/30/23 | $100,750 |
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 | $37,886,172 |
| Investment income | $528,069 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $425,588 |
| Net Gain/Loss on Asset Sales | $31,999 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,594 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,873,422 |
| 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 | $1,546,512 |
| Compensation of current officers, directors, key employees. | $865,096 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,015,254 |
| 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 | $997,396 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,599,596 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $38,873,422 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,971,435 |
| Savings and temporary cash investments | $5,340,492 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,787,001 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $624,824 |
| Inventories for sale or use | $1,855,766 |
| Prepaid expenses and deferred charges | $627,060 |
| Net Land, buildings, and equipment | $65,427,975 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,974,413 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $90,608,966 |
| Accounts payable and accrued expenses | $4,581,673 |
| 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 | $42,903,245 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $47,484,918 |
| 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 | $43,124,048 |
| Total liabilities and net assets/fund balances | $90,608,966 |