Midwest Energy Inc
- Assets
- $627.3m
- Revenue
- $242.1m
- Investments
- $0.0
- Employees
- 308
- Location
- Hays, KS
- Founding
- 04/1985
- Data as of
- 12/2021
- EIN
- 48-0163970
Organization Overview
Midwest Energy Inc is located in Hays, KS. The organization was established in 1985. 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, Midwest Energy Inc employed 308 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midwest Energy 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, Midwest Energy Inc generated $242.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $242.7m 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
MIDWEST ENERGY'S MISSION IS TO: -PROVIDE SAFE, RELIABLE AND EFFICIENT ENERGY SERVICES -DELIVER INNOVATIVE, AFFORDABLE AND ENVIRONMENTALLY SOUND SOLUTIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVE APPROXIMATELY 50,000 ELECTRIC AND 42,000 NATURAL GAS CUSTOMERS IN CENTRAL AND WESTERN KANSAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Parke CEO | Officer | 50 | $371,787 |
William Dowling VP Engineering & Energy Supply | Officer | 50 | $253,011 |
Fredrick Taylor VP Operations | Officer | 55 | $218,770 |
Timothy Flax VP It | Officer | 50 | $212,310 |
Robert Muirhead Secretary | Officer | 50 | $204,869 |
Thomas S Meis VP Finance, CFO | Officer | 40 | $202,928 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Par Electrical Contractors Inc Line Construction | 12/30/21 | $4,892,137 |
Roy Construction Co Substation Construction | 12/30/21 | $2,394,928 |
Burns & Mcdonnell Engineering | 12/30/21 | $1,201,277 |
North American Energy Services Power Plant Management & Staffing | 12/30/21 | $1,881,402 |
Valmont Substations Llc Substation Construction | 12/30/21 | $1,449,745 |
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 | $241,906,525 |
| Investment income | $202,671 |
| 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 | $242,109,196 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $182,227 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $19,690,143 |
| Compensation of current officers, directors, key employees. | $2,518,144 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,261,474 |
| Pension plan accruals and contributions | $3,418,316 |
| Other employee benefits | $2,910,938 |
| Payroll taxes | $1,399,513 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $148,000 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $64,999 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $412,100 |
| 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 | $14,265,543 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,262,486 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $242,708,525 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,297,705 |
| Savings and temporary cash investments | $2,600,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,621,573 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,299,104 |
| Inventories for sale or use | $10,100,607 |
| Prepaid expenses and deferred charges | $18,138,297 |
| Net Land, buildings, and equipment | $539,587,902 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $21,736,730 |
| Intangible assets | $0 |
| Other assets | $937,148 |
| Total assets | $627,319,066 |
| Accounts payable and accrued expenses | $45,119,163 |
| Grants payable | $0 |
| Deferred revenue | $10,465,963 |
| 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 | $308,563,812 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $364,148,938 |
| 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 | $263,170,128 |
| Total liabilities and net assets/fund balances | $627,319,066 |
Grants Awarded
Over the last fiscal year, Midwest Energy Inc has awarded $24,886 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Hays, KS PURPOSE: Fund local non-profit agencies | $14,886 |
Salina, KS PURPOSE: fund grants to non-profits | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Intermountain Rural Electric Association Sedalia, CO | $1,228,049,117 | $331,307,918 |
United Power Inc Brighton, CO | $596,297,380 | $312,195,991 |
Midwest Energy Inc Hays, KS | $627,319,066 | $242,109,196 |
Nebraska Electric Generation And Transmission Cooperative Inc Columbus, NE | $24,698,351 | $237,875,387 |
Central Electric Power Cooperative Jefferson City, MO | $478,589,080 | $224,762,707 |
National Electrical Contractors Association Inc Kansas City, MO | $2,543,076 | $175,759,939 |
Kansas Electric Power Cooperative Inc Topeka, KS | $324,892,215 | $155,298,946 |
Citizens Electric Corporation Perryville, MO | $190,238,434 | $155,506,076 |
Holy Cross Electric Assoc Inc Glenwood Springs, CO | $346,769,060 | $143,962,151 |
Poudre Valley Rural Electric Association Inc Fort Collins, CO | $294,330,752 | $138,618,060 |
Mountain View Electric Assoc Inc Limon, CO | $390,883,600 | $130,263,584 |
Cuivre River Electric Cooperative Incorporated Troy, MO | $339,510,149 | $127,588,100 |