Kiamichi Electric Cooperative Inc
- Assets
- $129.6m
- Revenue
- $52.1m
- Investments
- $3.5k
- Employees
- 78
- Location
- Wilburton, OK
- Founding
- 08/1949
- Data as of
- 12/2023
- EIN
- 73-0539216
Organization Overview
Kiamichi Electric Cooperative Inc is located in Wilburton, OK. The organization was established in 1949. 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, Kiamichi Electric Cooperative Inc employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kiamichi 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, Kiamichi Electric Cooperative Inc generated $52.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $52.1m during the year ending 12/2023. While expenses have increased by 2.5% 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 SAFE, RELIABLE ELECTRIC SERVICE TO ALL MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Parr Director | Trustee | 18 | $27,988 |
Mark Ichord Director | Trustee | 21 | $37,080 |
Ron Pelanconi President | OfficerTrustee | 26 | $49,359 |
Larry Culwell Director | Trustee | 28 | $31,809 |
Amy Miller Secretary/treasurer | OfficerTrustee | 20 | $37,950 |
David Ray Director | Trustee | 26 | $38,109 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gordon Construction Oh Line Construction/maintenance | 12/30/23 | $3,005,327 |
Bdg Trees Llc Right-of-way Maintenance | 12/30/23 | $1,178,100 |
Riggs Tree Service Right-of-way Maintenance | 12/30/23 | $527,023 |
West Tree Service Inc Right-of-way Maintenance | 12/30/23 | $1,510,499 |
Ricky Crane Construction Llc Ug Line Construction | 12/30/23 | $462,400 |
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 | $51,444,394 |
| Investment income | $39,336 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $317,257 |
| Net Gain/Loss on Asset Sales | $109,005 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $52,089,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,200 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,965,093 |
| Compensation of current officers, directors, key employees. | $688,436 |
| 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 | $2,642,807 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,085,272 |
| Insurance | $0 |
| All other expenses | $2,945,888 |
| Total functional expenses | $52,089,166 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,774 |
| Savings and temporary cash investments | $22,099 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,771,645 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,132,816 |
| Prepaid expenses and deferred charges | $429,091 |
| Net Land, buildings, and equipment | $96,790,888 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,470 |
| Investments—program-related | $23,366,412 |
| Intangible assets | $0 |
| Other assets | $7,691 |
| Total assets | $129,638,886 |
| Accounts payable and accrued expenses | $4,266,515 |
| 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 | $59,567,367 |
| Unsecured mortgages and notes payable | $795,361 |
| Other liabilities | $14,653,964 |
| Total liabilities | $79,283,207 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $87,125 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $50,268,554 |
| Total liabilities and net assets/fund balances | $129,638,886 |