Kootenai Electric Cooperative Inc
- Assets
- $242.1m
- Revenue
- $60.1m
- Investments
- $0.0
- Employees
- 129
- Location
- Rathdrum, ID
- Founding
- 02/1943
- Data as of
- 12/2022
- EIN
- 82-0136983
Organization Overview
Kootenai Electric Cooperative Inc is located in Rathdrum, ID. The organization was established in 1943. 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, Kootenai Electric Cooperative Inc employed 129 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kootenai 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, Kootenai Electric Cooperative Inc generated $60.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $62.1m during the year ending 12/2022. While expenses have increased by 5.7% per year over the past 8 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 MEMBER-OWNERS DEPENDABLE ELECTRIC POWER AND EXCEPTIONAL SERVICE AT COMPETITIVE RATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KOOTENAI ELECTRIC COOPERATIVE, INC. IS A MEMBER-OWNED ELECTRIC UTILITY WHICH PROVIDES RELIABLE ELECTRIC SERVICE TO APPROXIMATELY 27,500 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Swick Chairperson | OfficerTrustee | 12 | $36,202 |
Tim Meyer Vice Chairperson | OfficerTrustee | 13 | $28,852 |
Roger Tinkey Director | OfficerTrustee | 7 | $27,102 |
David Bobbitt Director | OfficerTrustee | 8.7 | $7,127 |
James Robbins Director | Trustee | 13.8 | $36,289 |
Todd Hoffman Director | Trustee | 6 | $7,127 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cooperative Building Solutions Building Design & Construction Contracto | 12/30/22 | $22,299,720 |
Energyneering Solutions Inc Labor & Supplies For Methane Plant | 12/30/22 | $738,388 |
Palouse Power Llc Electric Utility Line Construction | 12/30/22 | $684,432 |
Associated Arborists Tree Trimming | 12/30/22 | $3,665,016 |
Potelco Inc Electric Utility Line Construction | 12/30/22 | $669,378 |
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 | $57,923,391 |
| Investment income | $27,409 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,327 |
| Net Gain/Loss on Asset Sales | $404,576 |
| Net Income from Fundraising Events | $15,976 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,958 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,097,457 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,642 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,357,060 |
| Compensation of current officers, directors, key employees. | $901,423 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,452,671 |
| Pension plan accruals and contributions | $2,698,154 |
| Other employee benefits | $0 |
| Payroll taxes | $889,209 |
| 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 | $4,219,940 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,431,543 |
| Insurance | $0 |
| All other expenses | -$9,173,140 |
| Total functional expenses | $62,113,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,059,586 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,029,204 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,249,991 |
| Inventories for sale or use | $10,577,602 |
| Prepaid expenses and deferred charges | $5,547,531 |
| Net Land, buildings, and equipment | $210,659,309 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,721,340 |
| Intangible assets | $72,419 |
| Other assets | $1,142,506 |
| Total assets | $242,059,488 |
| Accounts payable and accrued expenses | $16,317,505 |
| Grants payable | $0 |
| Deferred revenue | $4,000,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $5,869 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $117,856,205 |
| Unsecured mortgages and notes payable | $12,700,000 |
| Other liabilities | $5,281,545 |
| Total liabilities | $156,161,124 |
| 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 | $53,667,626 |
| Retained earnings, endowment, accumulated income, or other funds | $32,230,738 |
| Total liabilities and net assets/fund balances | $242,059,488 |
Grants Awarded
Over the last fiscal year, Kootenai Electric Cooperative Inc has awarded $92,702 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KOOTENAI ELECTRIC TRUST INC PURPOSE: GENERAL SUPPORT | $85,202 |
COMMUNITY ACTION PARTNERSHIP PURPOSE: PROVIDES ASSISTANCE TO LOCAL COMMUNITY POPULATION IN PAYING UTILITY BILLS | $7,500 |