Missoula Electric Cooperative Inc
- Assets
- $75.8m
- Revenue
- $26.4m
- Investments
- $1.7m
- Employees
- 46
- Location
- Missoula, MT
- Founding
- 09/1944
- Data as of
- 12/2022
- EIN
- 81-0168065
Organization Overview
Missoula Electric Cooperative Inc is located in Missoula, MT. The organization was established in 1944. 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 12/2022, Missoula Electric Cooperative Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Missoula 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 12/2022, Missoula Electric Cooperative Inc generated $26.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $25.9m during the year ending 12/2022. While expenses have increased by 3.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MISSOULA ELECTRIC COOPERATIVE, INC. STRIVES TO UPHOLD A COMMITMENT TO SERVICE EXCELLENCE, WHILE DELIVERING SAFE, AFFORDABLE AND RELIABLE ELECTRICIY TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE PROVIDES ELECTRIC SERVICE TO APPROXIMATELY 13,300 MEMBERS IN MONTANA (SIX COUNTIES) AND IDAHO (ONE COUNTY).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Hayden General Manager | Officer | 40 | $292,225 |
Keelie Montalban CFO | Officer | 40 | $143,158 |
Erik Langaunet Engineering Manage | 40 | $137,666 | |
Keven Kuhn Cto | 40 | $145,701 | |
Nicholas Labbe Dir. Of Operations | 40 | $134,800 | |
Mitchell Dupree Foreman | 40 | $133,266 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rocky Mountain Contractors Inc Line Contractor | 12/30/22 | $2,002,252 |
Montana Electric Coop Association Membership Association | 12/30/22 | $179,233 |
Asplundh Tree Expert Co Right Of Way Tree Cl | 12/30/22 | $456,050 |
Rml Inc Line Contractor | 12/30/22 | $289,800 |
Altec Industries Inc Line Equipment | 12/30/22 | $453,710 |
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 | $25,056,978 |
| Investment income | $319,180 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $63,220 |
| Net Gain/Loss on Asset Sales | $42,920 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,435,058 |
| 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 | $1,785,059 |
| Compensation of current officers, directors, key employees. | $961,095 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,561,054 |
| Pension plan accruals and contributions | $786,434 |
| Other employee benefits | $760,068 |
| Payroll taxes | $377,042 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,723 |
| Fees for services: Accounting | $17,625 |
| Fees for services: Lobbying | $2,131 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $160,789 |
| Advertising and promotion | $233,653 |
| Office expenses | $71,645 |
| Information technology | $277,860 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,409 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $195,349 |
| Interest | $1,162,620 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,510,233 |
| Insurance | $249,702 |
| All other expenses | -$4,968,650 |
| Total functional expenses | $25,898,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,494,464 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,877,943 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,522,543 |
| Prepaid expenses and deferred charges | $939,129 |
| Net Land, buildings, and equipment | $60,412,604 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,749,268 |
| Investments—program-related | $4,825,914 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $75,821,865 |
| Accounts payable and accrued expenses | $5,061,882 |
| 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 | $32,263,971 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,547,964 |
| Total liabilities | $40,873,817 |
| 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 | $9,412,058 |
| Retained earnings, endowment, accumulated income, or other funds | $25,535,990 |
| Total liabilities and net assets/fund balances | $75,821,865 |