Northfork Electric Cooperative Inc
- Assets
- $79.4m
- Revenue
- $22.0m
- Investments
- $0.0
- Employees
- 36
- Location
- Sayre, OK
- Founding
- 07/1964
- Data as of
- 12/2021
- EIN
- 73-0375288
Organization Overview
Northfork Electric Cooperative Inc is located in Sayre, OK. The organization was established in 1964. 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, Northfork Electric Cooperative Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northfork 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, Northfork Electric Cooperative Inc generated $22.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $22.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 7 years. 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 ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY TO OUR MEMBERS - 6,556 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Meador General Mana | Officer | 50 | $252,283 |
Brandon Hickey Trustee | Trustee | 3.48 | $26,699 |
Bandy Silk Trustee | Trustee | 3.6 | $25,799 |
Brad Harrison Trustee | Trustee | 2 | $23,546 |
James C Taylor President | Trustee | 9 | $19,192 |
Larry Smith Trustee | Trustee | 6 | $17,292 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hollis Tree Services Llc Row Clearing | 12/30/21 | $150,447 |
R&r Powerline Construction Power Line Cont | 12/30/21 | $808,653 |
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 | $21,863,109 |
| Investment income | $20,227 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $311 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,595 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $48,700 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,969,942 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,669,262 |
| Compensation of current officers, directors, key employees. | $420,475 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $1,511,873 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,917,306 |
| Insurance | $0 |
| All other expenses | $439,769 |
| Total functional expenses | $21,967,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $719,806 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,777,544 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,023,604 |
| Prepaid expenses and deferred charges | $3,309,602 |
| Net Land, buildings, and equipment | $59,438,411 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $10,098,636 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $79,367,603 |
| Accounts payable and accrued expenses | $2,500,047 |
| 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 | $49,871,804 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $52,371,851 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $139,435 |
| Paid-in or capital surplus, or land, building, or equipment fund | $20,056 |
| Retained earnings, endowment, accumulated income, or other funds | $26,836,261 |
| Total liabilities and net assets/fund balances | $79,367,603 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Jemez Mountains Electric Cooperative Inc Espanola, NM | $130,164,432 | $49,848,005 |
Navarro County Electric Cooperative Inc Corsicana, TX | $102,970,554 | $49,278,830 |
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 |
C & L Electric Cooperative Corporation Star City, AR | $139,600,891 | $49,154,793 |
Houston County Electric Cooperative Inc Crockett, TX | $158,669,671 | $45,143,222 |
Morgan County Rural Electric Association Fort Morgan, CO | $104,279,755 | $45,102,816 |
North Plains Electric Cooperative Incorporated Perryton, TX | $109,565,276 | $41,899,328 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |