Central Power Electric Coop Inc
- Assets
- $453.1m
- Revenue
- $181.6m
- Investments
- $0.0
- Employees
- 65
- Location
- Minot, ND
- Founding
- 05/1957
- Data as of
- 12/2022
- EIN
- 45-0226179
Organization Overview
Central Power Electric Coop Inc is located in Minot, ND. The organization was established in 1957. 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 12/2022, Central Power Electric Coop Inc employed 65 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Power Electric Coop 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 12/2022, Central Power Electric Coop Inc generated $181.6m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $164.2m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING WHOLESALE ALL-REQUIREMENTS ELECTRIC SERVICE TO OUR SIX MEMBER RURAL ELECTRIC COOPERATIVES IN NORTH DAKOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING WHOLESALE ALL-REQUIREMENTS ELECTRIC SERVICE TO OUR SIX MEMBER RURAL ELECTRIC COOPERATIVES IN NORTH DAKOTA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arden Fuher Director | Trustee | 4 | $18,400 |
Mark Brehm Secretary Treasurer | OfficerTrustee | 4 | $20,800 |
Troy Presser Director | Trustee | 4 | $14,400 |
Robert Wolf President | OfficerTrustee | 7 | $17,200 |
Jean Brandt Vice President | OfficerTrustee | 4 | $23,600 |
David Straley Director | Trustee | 4 | $13,200 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Roers Constructions Joint Venture Llc General Contractor | 12/30/22 | $3,613,140 |
Synergy Powerline Construction Inc Line Construction Contractor | 12/30/22 | $2,396,010 |
Widseth Smith Nolting And Assoc Line Design Consultant | 12/30/22 | $567,006 |
Mattson Construction General Contractor | 12/30/22 | $138,055 |
Mmi Excavation Llc General Contractor | 12/30/22 | $236,502 |
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 | $165,224,712 |
| Investment income | $47,132 |
| 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 | $181,588,678 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $7,083,424 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,545,517 |
| Insurance | $0 |
| All other expenses | $245,888 |
| Total functional expenses | $164,161,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $146,394 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,149,768 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $217,000 |
| Inventories for sale or use | $19,748,464 |
| Prepaid expenses and deferred charges | $1,333,635 |
| Net Land, buildings, and equipment | $297,807,085 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $117,666,847 |
| Total assets | $453,069,193 |
| Accounts payable and accrued expenses | $14,109,805 |
| Grants payable | $0 |
| Deferred revenue | $7,256,348 |
| 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 | $282,147,763 |
| Unsecured mortgages and notes payable | $417,000 |
| Other liabilities | $2,138,458 |
| Total liabilities | $306,069,374 |
| Net assets without donor restrictions | $146,999,819 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $453,069,193 |