Cavalier Rural Electric Cooperative Inc
- Assets
- $18.1m
- Revenue
- $5.7m
- Investments
- $194.6k
- Employees
- 14
- Location
- Langdon, ND
- Founding
- 10/1952
- Data as of
- 12/2021
- EIN
- 45-0217426
Organization Overview
Cavalier Rural Electric Cooperative Inc is located in Langdon, ND. The organization was established in 1952. 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, Cavalier Rural Electric Cooperative Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cavalier Rural 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, Cavalier Rural Electric Cooperative Inc generated $5.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. While expenses have increased by 2.1% 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
ELECTRIC DISTRIBUTION COOPERATIVE SERVING 1,172 MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRIC DISTRIBUTION COOPERATIVE SERVING 1,172 MEMBERS WITH 1,622 SERVICES IN PLACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Riesen General Manager | Officer | 40 | $104,256 |
Nicole Koons Finance Manager (left August 2021) | Officer | 40 | $53,935 |
Tiffany Pritchard Finance Manager (started August 2021) | Officer | 40 | $23,778 |
Tim Devine Vice President | Trustee | 1 | $6,600 |
Anthony Ottem Director | Trustee | 1 | $2,250 |
Del Gage Director | Trustee | 1 | $2,250 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $307,000 |
| 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 | $307,000 |
| Total Program Service Revenue | $5,001,550 |
| Investment income | $12,924 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $117,011 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,676,895 |
| 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 | $405,148 |
| Compensation of current officers, directors, key employees. | $249,105 |
| 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 | $231,165 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $526,830 |
| Insurance | $0 |
| All other expenses | $6,084 |
| Total functional expenses | $5,240,175 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $793,423 |
| Savings and temporary cash investments | $431,581 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $603,523 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $250,000 |
| Inventories for sale or use | $523,255 |
| Prepaid expenses and deferred charges | $29,193 |
| Net Land, buildings, and equipment | $13,852,624 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $194,558 |
| Investments—program-related | $1,164,176 |
| Intangible assets | $0 |
| Other assets | $290,847 |
| Total assets | $18,133,180 |
| Accounts payable and accrued expenses | $394,462 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $10,029,548 |
| Other liabilities | $20,402 |
| Total liabilities | $10,444,412 |
| 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 | $7,688,768 |
| Total liabilities and net assets/fund balances | $18,133,180 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lake Region Electric Association Inc Webster, SD | $46,798,980 | $19,860,340 |
Black Hills Electric Cooperative Inc Custer, SD | $75,104,972 | $23,022,656 |
Roseau Electric Cooperative Inc Roseau, MN | $41,619,663 | $19,513,008 |
Hill County Electric Cooperative Inc Havre, MT | $40,815,029 | $18,033,515 |
Lewis And Clark Rural Water System Inc Tea, SD | $426,307,061 | $39,792,007 |
West Central Electric Cooperative Incorporated Murdo, SD | $53,451,686 | $18,722,038 |
Midwest Reliability Organization Inc St Paul, MN | $14,721,870 | $17,505,130 |
Ravalli County Electric Cooperative Inc Victor, MT | $44,767,170 | $17,487,477 |
Park Electric Cooperative Incorporated Livingston, MT | $27,938,575 | $16,763,973 |
Renville-Sibley Cooperative Power Association Danube, MN | $38,100,201 | $16,486,591 |
Glacier Electric Cooperative Inc Cut Bank, MT | $41,325,088 | $16,181,346 |
Mclean Electric Cooperative Inc Garrison, ND | $49,036,124 | $16,168,310 |