Glacier Electric Cooperative Inc
- Assets
- $42.0m
- Revenue
- $16.8m
- Investments
- $1.8m
- Employees
- 36
- Location
- Cut Bank, MT
- Founding
- 03/1948
- Data as of
- 12/2023
- EIN
- 81-0218082
Organization Overview
Glacier Electric Cooperative Inc is located in Cut Bank, MT. The organization was established in 1948. 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, Glacier Electric Cooperative Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Glacier 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, Glacier Electric Cooperative Inc generated $16.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $16.8m during the year ending 12/2023. While expenses have increased by 0.7% 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
RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICAL SERVICES AND UTILITIES TO MEMBERS AND PATRONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICAL SERVICES AND UTILITIES TO MEMBERS AND PATRONS LOCATED IN THE NORTHERN PORTION OF MONTANA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Gustafson President | OfficerTrustee | 1.25 | $4,950 |
Jim Taylor Vice President | OfficerTrustee | 2.71 | $11,200 |
Darrol Berkram Secretary/treasurer | OfficerTrustee | 1.45 | $6,750 |
Zita Bremner Trustee | Trustee | 1.34 | $5,400 |
Miles Lewis Trustee | Trustee | 1.31 | $5,200 |
Terry Tatsey Trustee | Trustee | 1.06 | $5,200 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aspen Forestry Right Of Way Clearing | 12/30/16 | $124,714 |
Montana Electric Cooperative Association Representation & Training | 12/30/16 | $109,835 |
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 | $16,479,331 |
| Investment income | $63,954 |
| 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 | $16,811,744 |
| 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 | $1,154,697 |
| Compensation of current officers, directors, key employees. | $360,505 |
| Compensation of current officers, directors, key employees. | $360,505 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $349,677 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $285,286 |
| 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 | $13,813 |
| Office expenses | $227,963 |
| 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 | $784,039 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,980,080 |
| Insurance | $126,978 |
| All other expenses | $1,071,759 |
| Total functional expenses | $16,811,744 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,115,830 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,335,965 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $897,872 |
| Prepaid expenses and deferred charges | $63,848 |
| Net Land, buildings, and equipment | $35,704,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,849,385 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,467 |
| Total assets | $41,969,865 |
| Accounts payable and accrued expenses | $1,955,277 |
| 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 | $19,722,933 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,065,118 |
| Total liabilities | $23,743,328 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $18,226,537 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $41,969,865 |