Core Electric Cooperative
- Assets
- $1.3b
- Revenue
- $345.1m
- Investments
- $0.0
- Employees
- 341
- Location
- Sedalia, CO
- Founding
- 08/1939
- Data as of
- 12/2022
- EIN
- 84-0235244
Organization Overview
Core Electric Cooperative is located in Sedalia, CO. The organization was established in 1939. 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, Core Electric Cooperative employed 341 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Core Electric Cooperative 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, Core Electric Cooperative generated $345.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $345.1m during the year ending 12/2022. While expenses have increased by 2.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE COOPERATIVE WAS ESTABLISHED AS A RURAL ELECTRIC DISTRIBUTION COOPERATIVE TO PROVIDE ELECTRIC UTILITY SERVICE WITHIN ITS SERVICE TERRITORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE DISTRIBUTED ELECTRICITY TO 174,006 ACTIVE SERVICE LOCATIONS IN 11 COLORADO COUNTIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy White Director, President | OfficerTrustee | 4 | $65,822 |
James T Anest Director, Secretary/treasurer | OfficerTrustee | 3 | $51,005 |
Robert W Graf Director | Trustee | 3 | $59,524 |
Bruff Shea Director, Vice President | OfficerTrustee | 3 | $54,726 |
Michael Sperry Director | Trustee | 3 | $53,092 |
Michael Kempe Director, Asst Secretary/treasurer | OfficerTrustee | 3 | $40,098 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Colorado Powerline Inc Utility Construction | 12/30/22 | $33,510,470 |
Ward Electric Company Utility Construction | 12/30/22 | $8,976,688 |
Western United Electric Supply Utility Materials Supplier And Services | 12/30/22 | $25,695,175 |
Ulteig Engineers Inc Engineering Consulting | 12/30/22 | $2,447,226 |
Asplundh Tree Expert Co Tree Trimming Service | 12/30/22 | $3,534,898 |
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 | $344,763,000 |
| Investment income | $256,009 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,000 |
| Net Gain/Loss on Asset Sales | $58,926 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $345,089,935 |
| 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 | $15,789,813 |
| Compensation of current officers, directors, key employees. | $4,948,404 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,560,753 |
| Pension plan accruals and contributions | $1,986,396 |
| Other employee benefits | $4,303,346 |
| Payroll taxes | $1,484,232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,865,663 |
| Fees for services: Accounting | $117,242 |
| Fees for services: Lobbying | $115,625 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,615,789 |
| Advertising and promotion | $0 |
| Office expenses | $4,134,724 |
| 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 | $89,579 |
| Interest | $40,595,127 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,155,663 |
| Insurance | $1,417,687 |
| All other expenses | $5,239,445 |
| Total functional expenses | $345,089,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,858,018 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,987,936 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,194,721 |
| Prepaid expenses and deferred charges | $23,572,813 |
| Net Land, buildings, and equipment | $1,113,825,978 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $34,138,806 |
| Intangible assets | $0 |
| Other assets | $32,196 |
| Total assets | $1,250,610,468 |
| Accounts payable and accrued expenses | $61,163,085 |
| Grants payable | $0 |
| Deferred revenue | $15,000,000 |
| 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 | $762,658,678 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $29,657,288 |
| Total liabilities | $868,479,051 |
| 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 | $764,425 |
| Retained earnings, endowment, accumulated income, or other funds | $381,366,992 |
| Total liabilities and net assets/fund balances | $1,250,610,468 |