Sheridan Electric Co-Op Inc
- Assets
- $64.2m
- Revenue
- $18.6m
- Investments
- $6.5m
- Employees
- 28
- Location
- Medicine Lake, MT
- Founding
- 08/1951
- Data as of
- 12/2021
- EIN
- 81-0216871
Organization Overview
Sheridan Electric Co-Op Inc is located in Medicine Lake, MT. The organization was established in 1951. 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 12/2021, Sheridan Electric Co-Op Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sheridan 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 12/2021, Sheridan Electric Co-Op Inc generated $18.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $15.3m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RURAL ELECTRIC COOPERATIVE PROVIDES ELECTRIC SERVICES TO CONSUMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE PROVIDES ELECTRIC SERVICES TO CONSUMERS.
RURAL ELECTRIC COOPERATIVE PROVIDES SERVICES TO CONSUMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Westlund Employee | 40 | $134,611 | |
Kory Opp Employee | 40 | $121,530 | |
Bryan Lenz Employee | 40 | $111,340 | |
Nickolas Oelkers Employee | 40 | $108,912 | |
Riley Tommerup Employee | 40 | $105,590 | |
Rodney Smith President | Officer | 1 | $5,600 |
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 | $17,953,802 |
| Investment income | $73,142 |
| 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 | $18,584,978 |
| 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. | $39,200 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,278,339 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $325,157 |
| 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 | $972,937 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,565,197 |
| Insurance | $0 |
| All other expenses | $988,467 |
| Total functional expenses | $15,287,989 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,232,085 |
| Savings and temporary cash investments | $18,951 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,495,618 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $90,959 |
| Inventories for sale or use | $768,799 |
| Prepaid expenses and deferred charges | $36,658 |
| Net Land, buildings, and equipment | $51,972,106 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,525,281 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $47,172 |
| Total assets | $64,187,629 |
| Accounts payable and accrued expenses | $711,010 |
| 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 | $24,059,869 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,159,772 |
| Total liabilities | $26,930,651 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $37,256,978 |
| Total liabilities and net assets/fund balances | $64,187,629 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Capital Electric Cooperative Inc Bismarck, ND | $133,692,620 | $42,124,624 |
Northern Plains Electric Cooperative Carrington, ND | $137,367,234 | $41,884,973 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
Yellowstone Valley Electric Cooperative Inc Huntley, MT | $80,881,351 | $39,379,515 |
Fall River Rural Electric Cooperative Inc Ashton, ID | $121,834,255 | $35,032,975 |
Northern Electric Cooperative Incorporated Bath, SD | $94,862,392 | $30,596,748 |
Lower Yellowstone Rural Electric Association Inc Sidney, MT | $85,844,658 | $30,782,801 |
Slope Electric Cooperative Inc New England, ND | $117,902,274 | $28,340,971 |
Dakota Energy Cooperative Inc Huron, SD | $57,340,254 | $26,541,158 |
Fergus Electric Cooperative Inc Lewistown, MT | $53,583,115 | $31,455,586 |
North Central Electric Cooperative Inc Bottineau, ND | $91,530,446 | $24,381,675 |
Missoula Electric Cooperative Inc Missoula, MT | $70,319,487 | $24,430,918 |