Freestate Electric Cooperative Inc
- Assets
- $121.8m
- Revenue
- $47.0m
- Investments
- $974.2k
- Employees
- 94
- Location
- Topeka, KS
- Founding
- 02/2017
- Data as of
- 12/2022
- EIN
- 81-4078510
Organization Overview
Freestate Electric Cooperative Inc is located in Topeka, KS. The organization was established in 2017. 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, Freestate Electric Cooperative Inc employed 94 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freestate 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, Freestate Electric Cooperative Inc generated $47.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $47.0m during the year ending 12/2022. While expenses have increased by 2.4% per year over the past 6 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
PROVIDE ELECTRIC POWER AND RELATED SERVICES TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 15,576 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ralph Phillips Trustee | Trustee | 3 | $12,661 |
Robert Sage Trustee | Trustee | 2.9 | $9,866 |
Don Montgomery Secretary | OfficerTrustee | 2.2 | $13,116 |
Larry Butel Treasurer | OfficerTrustee | 2.8 | $10,416 |
Mark Wulfkuhle Vice President | OfficerTrustee | 2.3 | $8,441 |
Harlan Hunt Trustee Until 04/2022 | Trustee | 2 | $2,402 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Electricomm Inc Repairs, Substation Maint., Engineering, | 12/30/22 | $623,896 |
Kendall Construction Inc Topeka Office Roof & Warehouse Roof, Lab | 12/30/22 | $329,496 |
Nat'l Information Solutions Cooperative Software Maintenance & Support | 12/30/22 | $299,631 |
Kansas Electric Cooperative Inc State Wide Assoc., Apparatus Testing, Mo | 12/30/22 | $271,976 |
Kansas Fencing Inc New Fencing At Two Solar Sites | 12/30/22 | $254,756 |
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 | $46,683,659 |
| Investment income | $78,831 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $217,873 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,565 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $47,018,053 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,197 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,119,427 |
| Compensation of current officers, directors, key employees. | $764,316 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| 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 | $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 | $2,027,881 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,986,893 |
| Insurance | $0 |
| All other expenses | $1,489,840 |
| Total functional expenses | $47,018,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,392 |
| Savings and temporary cash investments | $5,848,226 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,920,913 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $20,475 |
| Inventories for sale or use | $3,803,310 |
| Prepaid expenses and deferred charges | $210,652 |
| Net Land, buildings, and equipment | $93,247,700 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $974,154 |
| Investments—program-related | $7,638,913 |
| Intangible assets | $0 |
| Other assets | $3,971,804 |
| Total assets | $121,824,539 |
| Accounts payable and accrued expenses | $4,630,948 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $17,765 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $58,115,413 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,428,905 |
| Total liabilities | $76,193,031 |
| 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 | $45,631,508 |
| Total liabilities and net assets/fund balances | $121,824,539 |