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 12/2021, Glacier Electric Cooperative Inc employed 46 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 12/2021, Glacier Electric Cooperative Inc generated $16.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $16.2m during the year ending 12/2021. While expenses have increased by 0.4% per year over the past 7 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
2021
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
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Hugo Anderson Manager | Officer | 40 | $175,000 |
Walter Sharp Line Foreman | 40 | $124,935 | |
Michael Pyette Operations Manager | 40 | $117,146 | |
Les Costel Jr Journeyman | 40 | $115,866 | |
Shane Vasboe Line Foreman | 40 | $106,889 | |
Michael Fugle Journeyman Lineman | 40 | $103,588 |
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 |
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 | $15,881,673 |
Investment income | $50,283 |
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 | $16,181,346 |
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 | $329,800 |
Compensation of current officers, directors, key employees. | $306,810 |
Compensation of current officers, directors, key employees. | $306,810 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $575,197 |
Pension plan accruals and contributions | $145,526 |
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 | $26,645 |
Office expenses | $190,367 |
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 | $795,952 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,911,231 |
Insurance | $107,032 |
All other expenses | $865,340 |
Total functional expenses | $16,181,346 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,325,653 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,333,885 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $678,985 |
Prepaid expenses and deferred charges | $41,725 |
Net Land, buildings, and equipment | $35,941,842 |
Investments—publicly traded securities | $0 |
Investments—other securities | $1,833,218 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $169,780 |
Total assets | $41,325,088 |
Accounts payable and accrued expenses | $1,975,918 |
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 | $18,834,100 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $2,032,999 |
Total liabilities | $22,843,017 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $18,482,071 |
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 | $41,325,088 |
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 |