Prairie Land Electric Cooperative Inc
- Assets
- $193.6m
- Revenue
- $87.4m
- Investments
- $0.0
- Employees
- 96
- Location
- Norton, KS
- Founding
- 11/1939
- Data as of
- 12/2021
- EIN
- 48-0354623
Organization Overview
Prairie Land Electric Cooperative Inc is located in Norton, KS. The organization was established in 1939. 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, Prairie Land Electric Cooperative Inc employed 96 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prairie Land 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, Prairie Land Electric Cooperative Inc generated $87.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $87.4m during the year ending 12/2021. While expenses have increased by 4.7% 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
TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 24,677 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirk Girard CEO | Officer | 50 | $246,344 |
Alisha Stark CFO | Officer | 40 | $174,399 |
Lon Dean Wiseman Operations Manager - West | Officer | 43 | $171,831 |
James Coash Operations Manager - East | Officer | 40 | $169,510 |
Shane Schumaker Director Of Technical Serv | 40 | $136,323 | |
April Karnopp Director Of Administration | 45 | $128,749 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Solida Tree Service Inc Tree Trimming | 12/30/21 | $418,301 |
National Information Solutions Cooperati Software Provider & Other Services | 12/30/21 | $367,735 |
Electricomm Inc Ocr & Transformer Maintenance & Engineer | 12/30/21 | $134,993 |
Marksnelson Consulting For Property Tax Valuation | 12/30/21 | $110,221 |
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 | $85,017,745 |
| Investment income | $67,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $22,594 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $87,385,850 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,959 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $8,268,107 |
| Compensation of current officers, directors, key employees. | $1,515,490 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,372,165 |
| Pension plan accruals and contributions | $946,896 |
| Other employee benefits | $997,915 |
| Payroll taxes | $317,160 |
| 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 | $3,986,189 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,034,108 |
| Insurance | $0 |
| All other expenses | $1,017,515 |
| Total functional expenses | $87,385,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,310,530 |
| Savings and temporary cash investments | $1,593,054 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,493,027 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $138,310 |
| Inventories for sale or use | $1,831,769 |
| Prepaid expenses and deferred charges | $1,309,335 |
| Net Land, buildings, and equipment | $121,740,814 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $49,732,516 |
| Intangible assets | $0 |
| Other assets | $9,457,679 |
| Total assets | $193,607,034 |
| Accounts payable and accrued expenses | $6,290,409 |
| 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 | $101,422,527 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,122,654 |
| Total liabilities | $108,835,590 |
| 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 | $84,771,444 |
| Total liabilities and net assets/fund balances | $193,607,034 |
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 |