Slope Electric Cooperative Inc
- Assets
- $119.8m
- Revenue
- $23.9m
- Investments
- $23.2m
- Employees
- 15
- Location
- New England, ND
- Founding
- 08/1954
- Data as of
- 12/2023
- EIN
- 45-0217360
Organization Overview
Slope Electric Cooperative Inc is located in New England, ND. The organization was established in 1954. 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, Slope Electric Cooperative Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Slope 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, Slope Electric Cooperative Inc generated $23.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $23.9m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 9 years. 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
THE EXEMPT PURPOSE OF THE ORGANIZATION IS TO DISTRIBUTE RELIABLE ELECTRIC SERVICE TO MEMBERS IN SLOPE, ADAMS, HETTINGER, AND BOWMAN COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC ENERGY TO MEMBERS IN RURAL AREAS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Wegner President | OfficerTrustee | 3.19 | $6,600 |
Anthony Larson Vice President | OfficerTrustee | 7.98 | $9,050 |
Angela Carlson Secretary | OfficerTrustee | 7.88 | $15,590 |
Henry Fischer Treasurer | OfficerTrustee | 4.67 | $8,775 |
Lauren Klewin Director | Trustee | 2.81 | $6,150 |
Jerome Caron Director | Trustee | 4.69 | $7,350 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
3c Construction Llc Construction Services | 12/30/23 | $485,594 |
Innovative Energy Alliance Cooperative Professional Services | 12/30/23 | $815,873 |
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 | $22,044,184 |
| Investment income | $1,028,465 |
| 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 | $23,943,650 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $42,556 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,354,207 |
| Compensation of current officers, directors, key employees. | $72,015 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $208,862 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $272,764 |
| 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 | $866,939 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,890,130 |
| Insurance | $0 |
| All other expenses | $760,102 |
| Total functional expenses | $23,943,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,837,890 |
| Savings and temporary cash investments | $28,646,553 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,546,001 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $366,625 |
| Inventories for sale or use | $1,921,830 |
| Prepaid expenses and deferred charges | $133,343 |
| Net Land, buildings, and equipment | $57,864,736 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $23,226,179 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $214,189 |
| Total assets | $119,757,346 |
| Accounts payable and accrued expenses | $1,852,698 |
| 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 | $29,925,501 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,749,547 |
| Total liabilities | $44,527,746 |
| 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 | $75,229,600 |
| Total liabilities and net assets/fund balances | $119,757,346 |
Grants Awarded
Over the last fiscal year, Slope Electric Cooperative Inc has awarded $70,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
WEST RIVER HEALTH SERVICES PURPOSE: INSTALLMENT OF $100,000 DONATION TO BE PAID OVER 5 YEARS FOR EMERGENCY SERVICES CONTINGENT UPON BEING INVOICED ANNUALLY | $20,000 |
SOUTHWEST HEALTHCARE SERVICES PURPOSE: INSTALLMENT OF $250,000 DONATION TO BE PAID OVER 5 YEARS FOR EMERGENCY SERVICES CONTINGENT UPON BEING INVOICED ANNUALLY. LAST INSTALLMENT PAID IN 2018. | $50,000 |