Lost River Electric Cooperative Inc
- Assets
- $11.1m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 21
- Location
- Mackay, ID
- Founding
- 04/1943
- Data as of
- 12/2021
- EIN
- 82-0139694
Organization Overview
Lost River Electric Cooperative Inc is located in Mackay, 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 12/2021, Lost River Electric Cooperative Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lost River 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, Lost River Electric Cooperative Inc generated $7.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $6.2m during the year ending 12/2021. While expenses have increased by 2.1% 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
DISTRIBUTE POWER TO THE LOST RIVER VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRICITY DISTRIBUTION TO LOST RIVER VALLEY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Gamett CEO | 40 | $140,482 | |
Donald E Betzer Operations Manager | 40 | $117,891 | |
Linda Kimball Controller | 40 | $108,748 | |
Randy R Purser President | OfficerTrustee | 6 | $13,258 |
Susan M Harris Vice President | OfficerTrustee | 6 | $13,071 |
Maddie Mocettini-Hansen Director | Trustee | 6 | $12,984 |
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 | $7,350,789 |
| Investment income | $31,175 |
| 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 | $7,381,964 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $476,366 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $712,119 |
| Pension plan accruals and contributions | $497,654 |
| Other employee benefits | $0 |
| Payroll taxes | $89,340 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $446,260 |
| Insurance | $0 |
| All other expenses | $197,790 |
| Total functional expenses | $6,168,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $878,082 |
| Savings and temporary cash investments | $464,188 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $135,239 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $537,537 |
| Prepaid expenses and deferred charges | $54,080 |
| Net Land, buildings, and equipment | $8,666,309 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $340,949 |
| Total assets | $11,076,384 |
| Accounts payable and accrued expenses | $879,947 |
| 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 | $1,218,014 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1 |
| Total liabilities | $2,097,962 |
| 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 | $8,978,422 |
| Total liabilities and net assets/fund balances | $11,076,384 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Electric Co-Op Inc Heyburn, ID | $23,389,299 | $19,882,483 |
Elmhurst Mutual Power And Light Co Tacoma, WA | $32,294,963 | $19,833,230 |
Hill County Electric Cooperative Inc Havre, MT | $40,815,029 | $18,033,515 |
Douglas Electric Cooperative Inc Roseburg, OR | $72,257,465 | $22,631,556 |
Ravalli County Electric Cooperative Inc Victor, MT | $44,767,170 | $17,487,477 |
Wheatland Rural Electric Association Wheatland, WY | $32,258,120 | $17,112,530 |
Park Electric Cooperative Incorporated Livingston, MT | $27,938,575 | $16,763,973 |
Lakeview Light & Power Lakewood, WA | $50,109,948 | $24,172,277 |
Glacier Electric Cooperative Inc Cut Bank, MT | $41,325,088 | $16,181,346 |
Harney Electric Cooperative Inc Hines, OR | $32,154,008 | $16,091,631 |
Carbon Power & Light Inc Saratoga, WY | $55,820,091 | $15,960,147 |
Big Horn Rural Electric Company Basin, WY | $40,876,204 | $16,016,362 |