Northwestern Electric Cooperative Inc
- Assets
- $131.7m
- Revenue
- $40.5m
- Investments
- $0.0
- Employees
- 61
- Location
- Woodward, OK
- Founding
- 07/1941
- Data as of
- 12/2023
- EIN
- 73-0375825
Organization Overview
Northwestern Electric Cooperative Inc is located in Woodward, 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, Northwestern Electric Cooperative Inc employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwestern 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, Northwestern Electric Cooperative Inc generated $40.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $40.5m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 8 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 - 11,933 ACTIVE SERVICES AT YEAR END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marvin Wilkinson Trustee | Trustee | 4.5 | $30,123 |
Kenneth Knowles President | OfficerTrustee | 6.6 | $27,747 |
Jeff Mcintosh Trustee | Trustee | 3.8 | $26,047 |
John Bruce Jr Secretary/treasurer | OfficerTrustee | 5 | $25,060 |
Clair Craighead Trustee | Trustee | 4.3 | $23,347 |
Gilbert Perkins Vice President | OfficerTrustee | 6.4 | $23,316 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Riggs Tree Service Inc Tree Trimming And Right Of Way Maint. | 12/30/23 | $721,309 |
Panhandle Line Services Electric Dist. Construction | 12/30/23 | $827,539 |
R&r Powerline Construction Inc Electric Dist. Construction | 12/30/23 | $484,422 |
Skyhelm Inc It Monitoring, Updates, Back Up | 12/30/23 | $188,623 |
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 | $40,145,316 |
| Investment income | $61,482 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $133 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $197,761 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $38,470 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,527,928 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $21,997 |
| Grants and other assistance to domestic individuals. | $5,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,336,159 |
| Compensation of current officers, directors, key employees. | $1,051,487 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,999,652 |
| Pension plan accruals and contributions | $674,229 |
| Other employee benefits | $945,787 |
| Payroll taxes | $253,906 |
| 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 | $2,487,831 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,658,180 |
| Insurance | $0 |
| All other expenses | $520,248 |
| Total functional expenses | $40,527,928 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,905,575 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,073,578 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $359,006 |
| Inventories for sale or use | $2,688,303 |
| Prepaid expenses and deferred charges | $242,298 |
| Net Land, buildings, and equipment | $106,552,913 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,861,282 |
| Intangible assets | $0 |
| Other assets | $987,436 |
| Total assets | $131,670,391 |
| Accounts payable and accrued expenses | $3,687,021 |
| 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 | $87,032,281 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,504,222 |
| Total liabilities | $93,223,524 |
| 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 | $5,439,823 |
| Retained earnings, endowment, accumulated income, or other funds | $33,007,044 |
| Total liabilities and net assets/fund balances | $131,670,391 |