Heartland Rural Electric Cooperative Inc
- Assets
- $72.6m
- Revenue
- $26.6m
- Investments
- $0.0
- Employees
- 58
- Location
- Girard, KS
- Founding
- 05/1998
- Data as of
- 12/2023
- EIN
- 74-2805422
Organization Overview
Heartland Rural Electric Cooperative Inc is located in Girard, KS. The organization was established in 1998. 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, Heartland Rural Electric Cooperative Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heartland Rural 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, Heartland Rural Electric Cooperative Inc generated $26.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $26.9m during the year ending 12/2023. While expenses have increased by 1.2% 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 MEET OUR MEMBERS' NEEDS AND EXPECTATIONS FOR RELIABLE ELECTRICITY, SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT REASONABLE PRICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY TO OUR MEMBERS - 11,930 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 |
|---|---|---|---|
Mark Scheibe CEO | Officer | 65 | $258,687 |
Anthony Washington Elec System | 48 | $129,988 | |
Dan Avery Dir Of Opera | 48 | $141,642 | |
Justin Weimer It Manager | 43 | $121,259 | |
Larissa Bowman Director Of | 60 | $118,610 | |
Steve Mcfarland Director | Trustee | 3 | $14,711 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Apex Row Herbicide Spray | 12/30/23 | $1,777,206 |
Jk Fencing Row Clearing | 12/30/23 | $544,499 |
Osmose Utilities Services Inc Utility Pole Ch | 12/30/23 | $421,973 |
Poor Boy Tree Service Row Clearing | 12/30/23 | $105,706 |
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 | $26,331,195 |
| Investment income | $156,651 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,198 |
| Net Gain/Loss on Asset Sales | $31,765 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,562,326 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,101 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,389,166 |
| Compensation of current officers, directors, key employees. | $402,941 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $804,708 |
| 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 | $1,211,407 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,598,320 |
| Insurance | $0 |
| All other expenses | $527,946 |
| Total functional expenses | $26,857,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,496,632 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,238,735 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $133,945 |
| Prepaid expenses and deferred charges | $1,080,760 |
| Net Land, buildings, and equipment | $52,515,761 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $14,174,844 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $72,640,677 |
| Accounts payable and accrued expenses | $2,134,289 |
| Grants payable | $0 |
| Deferred revenue | $646,000 |
| 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 | $38,417,235 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,366,257 |
| Total liabilities | $42,563,781 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $42,335 |
| Paid-in or capital surplus, or land, building, or equipment fund | $5,355,793 |
| Retained earnings, endowment, accumulated income, or other funds | $24,678,768 |
| Total liabilities and net assets/fund balances | $72,640,677 |