Prairie Land Electric Cooperative Inc
- Assets
- $197.7m
- Revenue
- $65.6m
- Investments
- $0.0
- Employees
- 97
- Location
- Norton, KS
- Founding
- 11/1939
- Data as of
- 12/2023
- 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 12/2023, Prairie Land Electric Cooperative Inc employed 97 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 12/2023, Prairie Land Electric Cooperative Inc generated $65.6m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $65.6m during the year ending 12/2023. 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
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 24,630 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandra Benoit Secretary | OfficerTrustee | 16.9 | $17,500 |
Ivan Bohl Trustee | Trustee | 7.1 | $11,550 |
Jerry Gallagher Trustee (jan-Mar) | Trustee | 8.8 | $3,150 |
Ronald Griffith President | OfficerTrustee | 16 | $20,650 |
Otto Levin Trustee | Trustee | 6.5 | $10,150 |
Robert Paxson Treasurer | OfficerTrustee | 7 | $11,900 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sunflower Electric Power Corp Engineering Services & Substation Mainte | 12/30/23 | $3,408,715 |
National Information Solutions Cooperati Software Provider & Other Services | 12/30/23 | $411,886 |
Solida Tree Service Inc Tree Trimming | 12/30/23 | $538,657 |
Midwest Electric Transformer Services Transformer Repairs | 12/30/23 | $154,407 |
Senger Construction Llc Construction Contractor | 12/30/23 | $131,627 |
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 | $65,129,534 |
| Investment income | $147,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $118,958 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $65,588,314 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,164 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,114,578 |
| Compensation of current officers, directors, key employees. | $1,553,107 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,648,493 |
| Pension plan accruals and contributions | $1,111,208 |
| Other employee benefits | $1,238,023 |
| Payroll taxes | $403,906 |
| 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 | $4,235,239 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,260,202 |
| Insurance | $0 |
| All other expenses | -$1,874,775 |
| Total functional expenses | $65,588,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,757,406 |
| Savings and temporary cash investments | $54,596 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,418,535 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $173,476 |
| Inventories for sale or use | $3,768,363 |
| Prepaid expenses and deferred charges | $472,358 |
| Net Land, buildings, and equipment | $130,728,284 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $52,020,677 |
| Intangible assets | $0 |
| Other assets | $2,286,347 |
| Total assets | $197,680,042 |
| Accounts payable and accrued expenses | $9,192,167 |
| 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 | $96,716,111 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,244,211 |
| Total liabilities | $107,152,489 |
| 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 | $90,527,553 |
| Total liabilities and net assets/fund balances | $197,680,042 |