Cimarron Electric Cooperative Inc
- Assets
- $185.2m
- Revenue
- $79.5m
- Investments
- $0.0
- Employees
- 56
- Location
- Kingfisher, OK
- Founding
- 04/1941
- Data as of
- 12/2023
- 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 12/2023, Cimarron Electric Cooperative Inc employed 56 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 12/2023, Cimarron Electric Cooperative Inc generated $79.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $79.5m during the year ending 12/2023. While expenses have increased by 8.5% per year over the past 9 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
2023
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 19,145 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond Flatt Vice President | OfficerTrustee | 7.6 | $18,350 |
Chalentz Hedges Treasurer | OfficerTrustee | 9.5 | $18,000 |
Tom Kloeppel Director | Trustee | 6.5 | $21,500 |
Rudy Patzkowsky Director | Trustee | 5.7 | $18,000 |
Gene Peters Director | Trustee | 3.3 | $19,750 |
Amie Reed Secretary | OfficerTrustee | 5.1 | $18,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
R&r Powerline Construction Electrical Dist. Line Construction | 12/30/23 | $2,100,390 |
Riggs Tree Services Inc Right-of-way Clearing | 12/30/23 | $874,350 |
Liberty Line Construction Electrical Dist. Line Construction | 12/30/23 | $1,313,964 |
Vale Power Lines Electrical Dist. Line Construction | 12/30/23 | $1,793,489 |
Current Utility Services Llc Electrical Dist. Line Construction | 12/30/23 | $1,303,209 |
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 | $78,502,364 |
| Investment income | $115,712 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $565 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $7,756 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $79,539,937 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $78,386 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,617,895 |
| Compensation of current officers, directors, key employees. | $1,573,529 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,626,404 |
| Pension plan accruals and contributions | $380,172 |
| Other employee benefits | $536,688 |
| Payroll taxes | $237,132 |
| 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 | $4,004,362 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,815,006 |
| Insurance | $0 |
| All other expenses | $665,668 |
| Total functional expenses | $79,539,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $213,175 |
| Savings and temporary cash investments | $1,088,054 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,166,991 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $161,281 |
| Prepaid expenses and deferred charges | $68,241 |
| Net Land, buildings, and equipment | $154,258,048 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $21,021,191 |
| Intangible assets | $0 |
| Other assets | $1,230,103 |
| Total assets | $185,207,084 |
| Accounts payable and accrued expenses | $11,955,702 |
| 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 | $83,756,178 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,160,369 |
| Total liabilities | $104,872,249 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $457,895 |
| Paid-in or capital surplus, or land, building, or equipment fund | $3,610,412 |
| Retained earnings, endowment, accumulated income, or other funds | $76,266,528 |
| Total liabilities and net assets/fund balances | $185,207,084 |