Mccone Electric Co-Op Inc
- Assets
- $39.5m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Circle, MT
- Founding
- 11/1965
- Data as of
- 12/2022
- EIN
- 81-0216629
Organization Overview
Mccone Electric Co-Op Inc is located in Circle, MT. The organization was established in 1965. 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, Mccone Electric Co-Op Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mccone Electric Co-Op 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, Mccone Electric Co-Op Inc generated $10.7m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $9.7m during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 4 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
A NON-PROFIT, MEMBER-OWNED RURAL ELECTRIC COOPERATIVE FORMED TO DISTRIBUTE ELECTRIC POWER TO ITS MEMBERS AT THE LEAST POSSIBLE COST CONSISTENT WITH SOUND BUSINESS PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC POWER TO APPROXIMATELY 5,400 SERVICE LOCATIONS TO COOPERATIVE MEMBERS IN RURAL EASTERN MONTANA, 365 DAYS PER YEAR, 24 HOURS PER DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Tilton General Manager | Officer | 46 | $139,615 |
Theresa Haynie Manager Of Finance & Administration | Officer | 43 | $98,613 |
Edward Crockett Manager Of Engineering | 41 | $111,735 | |
Carla Delp President | OfficerTrustee | 8 | $28,479 |
Brent Mcrae Director | OfficerTrustee | 4 | $26,716 |
Conrad Moline Director | Trustee | 4 | $26,566 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shennum Construction Company Powerline Construction | 12/30/22 | $703,983 |
Red Rock Power Company Powerline Construction | 12/30/22 | $654,150 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,143,904 |
| 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 | $1,143,904 |
| Total Program Service Revenue | $9,327,610 |
| Investment income | $45,645 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,684,203 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $704,365 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,661,891 |
| Pension plan accruals and contributions | $398,334 |
| Other employee benefits | $352,479 |
| Payroll taxes | $120,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,728 |
| Fees for services: Accounting | $8,708 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,681 |
| 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 | $875,732 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,318,105 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,668,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,353,164 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,187,896 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,218,513 |
| Prepaid expenses and deferred charges | $21,765 |
| Net Land, buildings, and equipment | $33,036,959 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,698,430 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $39,516,727 |
| Accounts payable and accrued expenses | $2,558,053 |
| Grants payable | $0 |
| Deferred revenue | $63,330 |
| 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 | $22,042,761 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,985 |
| Total liabilities | $24,716,129 |
| 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 | $14,800,598 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $39,516,727 |