Capital Electric Cooperative Inc
- Assets
- $133.7m
- Revenue
- $42.1m
- Investments
- $0.0
- Employees
- 41
- Location
- Bismarck, ND
- Founding
- 12/1949
- Data as of
- 12/2021
- EIN
- 45-0217628
Organization Overview
Capital Electric Cooperative Inc is located in Bismarck, ND. The organization was established in 1949. 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, Capital Electric Cooperative Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capital 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, Capital Electric Cooperative Inc generated $42.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $42.1m during the year ending 12/2021. While expenses have increased by 4.0% 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
CAPITAL ELECTRIC COOPERATIVE SERVES OUR COMMUNITY AND MEMBER-OWNERS AS THEIR TRUSTED ENERGY PROVIDER AND PARTNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE AN ELECTRICAL DISTRIBUTION COOPERATIVE SUPPLYING ELECTRIC POWER TO OUR MEMBER CONSUMERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Fitterer General Manager | Officer | 46 | $209,260 |
Luke Steen Business Manager | Officer | 46 | $134,843 |
Rick Dressler Operations Manager | 40 | $126,134 | |
Gregory Owen Manager Of Engineering | 40 | $116,358 | |
Steven Kuball Journeyman Lineworker | 40 | $108,859 | |
Seth Lothspeich Lead Lineman | 40 | $108,531 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fischer Contracting Line Construction | 12/30/21 | $837,226 |
Vetsch Independent Power Inc Line Construction | 12/30/21 | $816,568 |
Gieser Utility Contracting Inc Line Construction | 12/30/21 | $549,744 |
Verizon Metering | 12/30/21 | $226,569 |
Summit Utility Locating Line Location Services | 12/30/21 | $208,576 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $907,595 |
| 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 | $907,595 |
| Total Program Service Revenue | $39,046,970 |
| Investment income | $101,473 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $533,435 |
| Net Gain/Loss on Asset Sales | $23,587 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$6,801 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,124,624 |
| 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 | $2,555,987 |
| Compensation of current officers, directors, key employees. | $437,144 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $815,346 |
| 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 | $1,828,421 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,569,893 |
| Insurance | $0 |
| All other expenses | -$1,252,490 |
| Total functional expenses | $42,124,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,491,191 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,174,805 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,603,168 |
| Prepaid expenses and deferred charges | $435,934 |
| Net Land, buildings, and equipment | $98,294,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,693,099 |
| Total assets | $133,692,620 |
| Accounts payable and accrued expenses | $2,742,283 |
| 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 | $74,002,441 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,415,596 |
| Total liabilities | $81,160,320 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $40,536,453 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $11,995,847 |
| Total liabilities and net assets/fund balances | $133,692,620 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Capital Electric Cooperative Inc has recieved totaling $12,187.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $12,187 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nodak Electric Cooperative Inc Grand Forks, ND | $162,149,817 | $119,843,322 |
Wright-Hennepin Cooperative Electric Association Rockford, MN | $233,547,306 | $112,957,716 |
Minnesota Valley Electric Cooperative Jordan, MN | $225,562,606 | $97,633,848 |
Sioux Valley-Southwestern Electric Cooperative Inc Colman, SD | $299,619,509 | $95,033,427 |
Lake Country Power Cohasset, MN | $343,138,601 | $92,478,659 |
Crow Wing Cooperative Power & Light Company Brainerd, MN | $238,884,299 | $79,431,443 |
Roughrider Electric Cooperative Inc Hazen, ND | $306,147,341 | $78,571,891 |
Mienergy Cooperative Rushford, MN | $203,461,309 | $76,660,548 |
Stearns Cooperative Electric Association Melrose, MN | $153,957,017 | $65,381,947 |
Beltrami Electric Cooperative Bemidji, MN | $132,948,143 | $58,653,821 |
Lake Region Electric Cooperative Pelican Rapids, MN | $144,282,112 | $56,997,078 |
Verendrye Electric Cooperative Inc Velva, ND | $164,038,117 | $53,998,395 |