Southeast Electric Cooperative Inc
- Assets
- $24.1m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Ekalaka, MT
- Founding
- 07/1952
- Data as of
- 12/2022
- EIN
- 81-0228814
Organization Overview
Southeast Electric Cooperative Inc is located in Ekalaka, MT. The organization was established in 1952. 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, Southeast Electric Cooperative Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeast 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, Southeast Electric Cooperative Inc generated $8.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $8.2m during the year ending 12/2022. While expenses have increased by 3.2% 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
MISSION STATEMENT: THROUGH DEDICATION, COOPERATION, COMMUNITY INVOLVEMENT AND LOCAL CONTROL, WE PROVIDE SAFE, DEPENDABLE, AFFORDABLE ENEGY, AND INNOVATIONS FOR THE BETTERMENT OF OUR MEMEBERS TO IMPROVE THE QUALITY OF LIFE AND CREATE A BRIGHTER FUTURE FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURCHASE OF POWER TO DISTRIBUTE TO OUR MEMBERS
BUILDING AND MAINTENANCE OF DISTRIBUTION AND TRANSMISSION POWER LINES TO SERVE OUR MEMEBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack E Hamblin Project Manager | Officer | 40 | $199,352 |
Samuel Erfman Crew Foreman | 40 | $103,384 | |
Jake Hammel Line Foreman | 40 | $101,012 | |
Adam Kuntz Lead Lineman | 40 | $101,319 | |
Tye B Williams General Manager | Officer | 40 | $99,290 |
Albert Paul President, Director | OfficerTrustee | 4.1 | $8,938 |
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 | $8,066,862 |
| Investment income | $137,110 |
| 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 | $137 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,204,109 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,980 |
| Grants and other assistance to domestic individuals. | $24,249 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,599,463 |
| Compensation of current officers, directors, key employees. | $512,387 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $819,105 |
| Pension plan accruals and contributions | $194,421 |
| Other employee benefits | $264,615 |
| Payroll taxes | $78,286 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,388 |
| Fees for services: Accounting | $8,400 |
| Fees for services: Lobbying | $391 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,748 |
| Fees for services: Other | $11,791 |
| Advertising and promotion | $6,179 |
| Office expenses | $21,250 |
| Information technology | $66,759 |
| Royalties | $0 |
| Occupancy | $254,281 |
| Travel | $166,006 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,002 |
| Interest | $372,036 |
| Payments to affiliates | $48,980 |
| Depreciation, depletion, and amortization | $750,239 |
| Insurance | $43,368 |
| All other expenses | -$30,365 |
| Total functional expenses | $8,204,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,083,959 |
| Savings and temporary cash investments | $5,689,006 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $911,790 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $483,302 |
| Prepaid expenses and deferred charges | $19,124 |
| Net Land, buildings, and equipment | $12,174,011 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,741,147 |
| Other assets | $4,284 |
| Total assets | $24,106,623 |
| Accounts payable and accrued expenses | $834,454 |
| 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 | $9,097,692 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,932,146 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $14,174,477 |
| 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 | $24,106,623 |