Nemaha-Marshall Electric Cooperative Assn Inc
- Assets
- $13.4m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 18
- Location
- Axtell, KS
- Founding
- 05/1940
- Data as of
- 12/2022
- EIN
- 48-0350145
Organization Overview
Nemaha-Marshall Electric Cooperative Assn Inc is located in Axtell, KS. The organization was established in 1940. 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, Nemaha-Marshall Electric Cooperative Assn Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nemaha-Marshall Electric Cooperative Assn 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, Nemaha-Marshall Electric Cooperative Assn Inc generated $7.7m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $7.0m during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ELECTRICITY TO RURAL COOPERATIVE MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL MEETING OF MEMBERS-THE COOPERATIVE HELD AN ANNUAL MEETING ON FEBRUARY 22, 2022. A TOTAL OF 2,449 MEMBERS WERE NOTIFIED AND 58 MEMBERS ATTENDED. A LEGAL QUORUM WAS PRESENT. THE COOPERATIVE'S OFFICERS AND MANAGEMENT INFORMED THE CONSUMERS OF THE YEAR'S ACTIVITIES AND THE ELECTION OF TRUSTEES WAS HELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David J Koch President | OfficerTrustee | 3 | $3,920 |
David J Ronnebaum Vice President | OfficerTrustee | 3 | $4,200 |
James G Borgerding Treasurer | OfficerTrustee | 3 | $3,360 |
Robert L Voet Secretary | OfficerTrustee | 3 | $3,640 |
Dean D Becker Trustee | Trustee | 3 | $4,200 |
Melvin D Kruse Trustee | Trustee | 3 | $3,920 |
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 | $7,692,710 |
| Investment income | $37,530 |
| 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 | $17,820 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,748,060 |
| 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. | $181,879 |
| Compensation of current officers, directors, key employees. | $181,879 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $479,393 |
| Pension plan accruals and contributions | $63,265 |
| Other employee benefits | $177,198 |
| Payroll taxes | $45,804 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,807 |
| Fees for services: Accounting | $6,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,217 |
| Office expenses | $36,774 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $17,515 |
| Travel | $128,632 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,042 |
| Interest | $208,480 |
| Payments to affiliates | $69,292 |
| Depreciation, depletion, and amortization | $492,443 |
| Insurance | $23,838 |
| All other expenses | $117,247 |
| Total functional expenses | $7,000,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,667 |
| Savings and temporary cash investments | $115,450 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $726,585 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $787,128 |
| Prepaid expenses and deferred charges | $189,001 |
| Net Land, buildings, and equipment | $10,892,199 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $250,531 |
| Total assets | $13,399,561 |
| Accounts payable and accrued expenses | $646,715 |
| 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 | $4,084,510 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $35,370 |
| Total liabilities | $4,766,595 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $31,955 |
| Paid-in or capital surplus, or land, building, or equipment fund | $8,421,086 |
| Retained earnings, endowment, accumulated income, or other funds | $179,925 |
| Total liabilities and net assets/fund balances | $13,399,561 |