North Central Electric Cooperative Inc
- Assets
- $91.5m
- Revenue
- $24.4m
- Investments
- $322.7k
- Employees
- 37
- Location
- Bottineau, ND
- Founding
- 07/1953
- Data as of
- 12/2021
- EIN
- 45-0173086
Organization Overview
North Central Electric Cooperative Inc is located in Bottineau, ND. The organization was established in 1953. 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, North Central Electric Cooperative Inc employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Central 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 12/2021, North Central Electric Cooperative Inc generated $24.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $24.4m during the year ending 12/2021. While expenses have increased by 0.5% 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
THE EXEMPT PURPOSE OF THE ORGANIZATION IS TO PROVIDE ELECTRICITY TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICITY AND ELECTRICAL SERVICES TO OVER 4,700 RESIDENTIAL AND COMMERCIAL MEMBERS. SERVICE ENCOMPASSES OVER 3,300 MILES OF UTILITY LINE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Martian Term 621 General Manager | Officer | 50 | $219,949 |
Jonathan Beyer Eff 621 General Manager | Officer | 40 | $157,757 |
Pete Erickson Member Service Manager | 40 | $121,814 | |
Sarah Dawson Business Manager | Officer | 50 | $121,654 |
William Sadowsky Asst Engineering & Operations Manager | 40 | $108,622 | |
Tyler Liebelt Line Crew Foreman | 40 | $108,614 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Parisien's Tree Service Trimming Trees | 12/30/21 | $209,250 |
Central Trenching Inc Trenching And Boring | 12/30/21 | $232,509 |
Dakota Tree Service Inc Trimming Trees | 12/30/21 | $174,419 |
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 | $24,317,482 |
| Investment income | $62,252 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,000 |
| Net Gain/Loss on Asset Sales | $21,180 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$34,239 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,381,675 |
| 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 | $1,369,500 |
| Compensation of current officers, directors, key employees. | $776,681 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,543,240 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,096,117 |
| Payroll taxes | $248,443 |
| 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 | $1,598,641 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,765,973 |
| Insurance | $0 |
| All other expenses | -$4,483,893 |
| Total functional expenses | $24,381,675 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,717,143 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,732,388 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,297,211 |
| Prepaid expenses and deferred charges | $535,456 |
| Net Land, buildings, and equipment | $61,320,445 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $322,733 |
| Investments—program-related | $17,466,577 |
| Intangible assets | $0 |
| Other assets | $138,493 |
| Total assets | $91,530,446 |
| Accounts payable and accrued expenses | $3,231,915 |
| Grants payable | $0 |
| Deferred revenue | $2,832,035 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,797 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $53,634,073 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $138,477 |
| Total liabilities | $59,838,297 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $31,692,149 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $91,530,446 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that North Central Electric Cooperative Inc has recieved totaling $37,980.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $37,980 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Capital Electric Cooperative Inc Bismarck, ND | $133,692,620 | $42,124,624 |
Northern Plains Electric Cooperative Carrington, ND | $137,367,234 | $41,884,973 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
District Energy St Paul Inc St Paul, MN | $133,953,246 | $38,563,375 |
Steele Waseca Cooperative Electric Owatonna, MN | $93,180,056 | $37,750,212 |
Yellowstone Valley Electric Cooperative Inc Huntley, MT | $80,881,351 | $39,379,515 |
Consolidated Telephone Company Brainerd, MN | $86,072,377 | $35,653,081 |
Federated Rural Electric Association Jackson, MN | $74,873,988 | $36,024,282 |
Wild Rice Electric Cooperative Inc Mahnomen, MN | $71,183,231 | $34,569,574 |
Runestone Electric Association Alexandria, MN | $99,235,935 | $31,252,692 |