Cimarron Electric Cooperative Inc
- Assets
- $169.6m
- Revenue
- $67.6m
- Investments
- $0.0
- Employees
- 57
- Location
- Kingfisher, OK
- Founding
- 04/1941
- Data as of
- 12/2021
- EIN
- 73-0195455
Organization Overview
Cimarron Electric Cooperative Inc is located in Kingfisher, OK. The organization was established in 1941. 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, Cimarron Electric Cooperative Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cimarron 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, Cimarron Electric Cooperative Inc generated $67.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $67.6m during the year ending 12/2021. While expenses have increased by 8.5% 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 ELECTRIC POWER TO RURAL AREAS 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 18,471 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Snowden CEO | Officer | 50 | $431,344 |
Jeff Hyatt Coo/cmo | Officer | 45 | $225,298 |
Aaron Roark CFO | Officer | 45 | $221,106 |
Reed Emerson Senior VP Ops/construction | Officer | 45 | $175,470 |
Richard Reherman Senior VP Accounting | Officer | 40 | $153,160 |
Steph Jones Chief Technology Officer | 45 | $119,609 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Riggs Tree Services Inc Right-of-way Clearing | 12/30/21 | $1,620,021 |
Vale Power Lines Electrical Distribution Line Constructio | 12/30/21 | $3,064,561 |
Liberty Line Construction Electrical Distribution Line Constructio | 12/30/21 | $782,753 |
R&r Powerline Construction Electrical Distribution Line Constructio | 12/30/21 | $768,860 |
Machen Enterprises System Engineering Services | 12/30/21 | $418,642 |
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 | $67,277,357 |
| Investment income | $32,162 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $945 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,517 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $262,268 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $67,599,249 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $64,199 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,720,570 |
| Compensation of current officers, directors, key employees. | $1,661,904 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,077,006 |
| Pension plan accruals and contributions | $293,011 |
| Other employee benefits | $505,832 |
| Payroll taxes | $227,219 |
| 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 | $3,927,031 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,946,247 |
| Insurance | $0 |
| All other expenses | $525,023 |
| Total functional expenses | $67,599,249 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $378,223 |
| Savings and temporary cash investments | $3,913 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,893,997 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $53,010 |
| Net Land, buildings, and equipment | $141,400,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,817,071 |
| Intangible assets | $0 |
| Other assets | $1,091,178 |
| Total assets | $169,637,752 |
| Accounts payable and accrued expenses | $5,975,672 |
| 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 | $88,033,376 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,609,774 |
| Total liabilities | $100,618,822 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $440,314 |
| Paid-in or capital surplus, or land, building, or equipment fund | $3,015,750 |
| Retained earnings, endowment, accumulated income, or other funds | $65,562,866 |
| Total liabilities and net assets/fund balances | $169,637,752 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mid-South Electric Cooperative Association Navasota, TX | $452,923,341 | $112,304,236 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
La Plata Electric Association Inc Durango, CO | $287,521,885 | $109,650,926 |
Karnes Electric Cooperative Inc Karnes City, TX | $202,970,400 | $101,891,775 |
Tri-County Electric Cooperative Inc Hooker, OK | $321,398,945 | $100,998,279 |
Deep East Texas Electric Co-Operative Inc San Augustine, TX | $258,283,792 | $99,942,050 |
Upshur-Rural Electric Cooperative Corporation Gilmer, TX | $245,628,727 | $98,243,041 |
San Bernard Electric Cooperative Incorporated Bellville, TX | $290,497,219 | $97,543,303 |
Pioneer Electric Cooperative Inc Ulysses, KS | $284,468,248 | $104,061,245 |
Lea County Electric Cooperative Inc Lovington, NM | $232,536,118 | $95,597,033 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
Bandera Electric Cooperative Inc Bandera, TX | $290,540,608 | $89,188,257 |