Hemingford Co-Op Telephone Company
- Assets
- $16.4m
- Revenue
- $2.8m
- Investments
- $24.6k
- Employees
- 23
- Location
- Hemingford, NE
- Founding
- Data as of
- 12/2023
- EIN
- 47-0187450
Organization Overview
Hemingford Co-Op Telephone Company is located in Hemingford, NE. As of 12/2023, Hemingford Co-Op Telephone Company employed 23 individuals. Hemingford Co-Op Telephone Company 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, Hemingford Co-Op Telephone Company generated $2.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $2.7m during the year ending 12/2023. While expenses have increased by 0.2% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE TELECOMMUNICATIONS SERVICE TO RESIDENTS IN WESTERN NEBRASKA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE COMMUNICATIONS SERVICE OVER A WIRELINE NETWORK TO SUBSCRIBERS IN NORTHWEST NEBRASKA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Gasseling President | Trustee | 1 | $4,760 |
Brad Delsing Secretary | Trustee | 1 | $4,480 |
David Roes Director | Trustee | 1 | $4,165 |
Greg Hansen Vice Preside | Trustee | 1 | $3,920 |
Bruce Winten Director | Trustee | 1 | $4,165 |
Ed Wernke Director | Trustee | 1 | $2,695 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tca Consulting | 12/30/20 | $145,203 |
Midwest Contractors Construction | 12/30/20 | $190,348 |
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 | $2,693,942 |
| Investment income | $83,092 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,189 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,794,223 |
| 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 | $738,407 |
| Pension plan accruals and contributions | $94,564 |
| Other employee benefits | $101,142 |
| 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 | $193,176 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $466,326 |
| Insurance | $0 |
| All other expenses | $30,778 |
| Total functional expenses | $2,744,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $595,064 |
| Savings and temporary cash investments | $100,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $328,053 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $27,583 |
| Net Land, buildings, and equipment | $4,221,862 |
| Investments—publicly traded securities | $2,629,278 |
| Investments—other securities | $24,643 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,448,471 |
| Total assets | $16,374,954 |
| Accounts payable and accrued expenses | $331,617 |
| 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 | $0 |
| Other liabilities | $3,848,435 |
| Total liabilities | $4,180,052 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $5,750 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$459 |
| Retained earnings, endowment, accumulated income, or other funds | $12,189,611 |
| Total liabilities and net assets/fund balances | $16,374,954 |