Lane-Scott Electric Cooperative Inc
- Assets
- $64.7m
- Revenue
- $22.0m
- Investments
- $0.0
- Employees
- 26
- Location
- Dighton, KS
- Founding
- 03/1952
- Data as of
- 12/2021
- EIN
- 48-0526038
Organization Overview
Lane-Scott Electric Cooperative Inc is located in Dighton, KS. The organization was established in 1952. 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, Lane-Scott Electric Cooperative Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lane-Scott 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, Lane-Scott Electric Cooperative Inc generated $22.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $21.6m during the year ending 12/2021. While expenses have increased by 3.9% 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 5,792 ACTIVE SERVICES AT YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Mcleon General Manager | Officer | 50 | $230,905 |
Katherine E Lewis Finance Manager | Officer | 43 | $124,088 |
Benjamin Mann Crew Foreman | 43 | $108,426 | |
Kasey Jenkinson Crew Foreman | 44 | $107,344 | |
Kevin Bradstreet Journeyman | 44 | $106,664 | |
Chris Terhune Journeyman | 44 | $106,051 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ies Commercial Inc Pole Change Outs | 12/30/20 | $172,927 |
Solida Tree Service Inc Tree Trimming | 12/30/20 | $126,132 |
Electricomm Inc Substation Contractor | 12/30/20 | $114,041 |
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 | $20,436,633 |
| Investment income | $160,696 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,000 |
| Net Gain/Loss on Asset Sales | -$16,119 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,993,870 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,775 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,134,442 |
| Compensation of current officers, directors, key employees. | $645,866 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $964,447 |
| Pension plan accruals and contributions | $248,563 |
| Other employee benefits | $205,826 |
| Payroll taxes | $89,428 |
| 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 | $1,338,351 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,844,094 |
| Insurance | $0 |
| All other expenses | $165,867 |
| Total functional expenses | $21,614,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,427 |
| Savings and temporary cash investments | $5,599,781 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,610,859 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $473,727 |
| Prepaid expenses and deferred charges | $2,921,268 |
| Net Land, buildings, and equipment | $40,519,192 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,253,022 |
| Intangible assets | $0 |
| Other assets | $178,090 |
| Total assets | $64,691,366 |
| Accounts payable and accrued expenses | $1,675,925 |
| 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 | $37,593,001 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $886,577 |
| Total liabilities | $40,155,503 |
| 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 | $24,535,863 |
| Total liabilities and net assets/fund balances | $64,691,366 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Y W Electric Association Inc Colorado Rea 38 Akron, CO | $130,403,627 | $47,254,335 |
Rural Electric Co Op Inc Lindsay, OK | $94,050,768 | $47,989,459 |
Kiamichi Electric Cooperative Inc Wilburton, OK | $118,158,279 | $46,432,215 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |
Morgan County Rural Electric Association Fort Morgan, CO | $104,279,755 | $45,102,816 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |
Western Cooperative Electric Association Inc Wakeeney, KS | $116,000,475 | $44,441,643 |
Semo Electric Cooperative Sikeston, MO | $155,297,219 | $43,598,236 |
Freestate Electric Cooperative Inc Topeka, KS | $115,006,207 | $43,505,372 |
Red River Valley Rural Electric Association Marietta, OK | $87,688,171 | $43,444,812 |
Southeastern Electric Cooperative Inc Durant, OK | $83,173,851 | $40,665,061 |