Morgan County Rural Electric Association is located in Fort Morgan, CO. The organization was established in 1938. 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, Morgan County Rural Electric Association employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morgan County Rural Electric Association 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, Morgan County Rural Electric Association generated $45.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $45.1m during the year ending 12/2021. While expenses have increased by 5.2% 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
MORGAN COUNTY RURAL ELECTRIC ASSOCIATION IS A COOPERATIVE THAT PROVIDES DISTRIBUTION AND SALES OF ELECTRIC ENERGY ON A RETAIL BASIS TO THE RURAL AREAS OF SIX COUNTIES IN COLORADO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRICAL POWER TO 9089 METERS. DELIVERED AND SOLD 379,751,007 KWH TO OUR MEMBER OWNERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
David Frick General Manager | Officer | 45 | $203,619 |
Steve Sundet Manager Of Engineering | 45 | $134,668 | |
Bobby Brenton Manager Of Operations | 45 | $122,550 | |
Robb Shaver Manager Of Office Services | Officer | 45 | $121,249 |
Rodney Rhoades Lineman | 40 | $117,302 | |
Brad Boppre Lineman | 40 | $111,211 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Great Plains Power Power Line Construction | 12/30/21 | $1,410,768 |
United Tree Service Tree Trimming | 12/30/21 | $156,240 |
Altitude Energy Power Line Construction | 12/30/21 | $453,437 |
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 | $44,842,575 |
Investment income | $159,116 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $100,326 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $799 |
Miscellaneous Revenue | $0 |
Total Revenue | $45,102,816 |
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 | $5,359,374 |
Compensation of current officers, directors, key employees. | $713,872 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $3,094,488 |
Pension plan accruals and contributions | $195,163 |
Other employee benefits | $0 |
Payroll taxes | $250,882 |
Fees for services: Management | $0 |
Fees for services: Legal | $14,305 |
Fees for services: Accounting | $15,500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $9,645 |
Office expenses | $4,664 |
Information technology | $43,232 |
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 | $17,591 |
Interest | $1,506,760 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,093,302 |
Insurance | $0 |
All other expenses | $86,711 |
Total functional expenses | $45,102,816 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,604,812 |
Savings and temporary cash investments | $11,551,582 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $3,533,757 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $1,628,581 |
Prepaid expenses and deferred charges | $1,077,004 |
Net Land, buildings, and equipment | $62,809,016 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $21,859,615 |
Intangible assets | $0 |
Other assets | $215,388 |
Total assets | $104,279,755 |
Accounts payable and accrued expenses | $2,408,370 |
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 | $47,893,711 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $5,344,065 |
Total liabilities | $55,646,146 |
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 | $4,832,204 |
Retained earnings, endowment, accumulated income, or other funds | $43,801,405 |
Total liabilities and net assets/fund balances | $104,279,755 |
Organization Name | Assets | Revenue |
---|---|---|
Sulphur Springs Valley Electric Cooperative Inc Willcox, AZ | $321,892,538 | $124,995,046 |
Trico Electric Cooperative Inc Marana, AZ | $268,045,549 | $107,861,208 |
La Plata Electric Association Inc Durango, CO | $287,521,885 | $109,650,926 |
Tri-County Electric Cooperative Inc Hooker, OK | $321,398,945 | $100,998,279 |
Pioneer Electric Cooperative Inc Ulysses, KS | $284,468,248 | $104,061,245 |
Lea County Electric Cooperative Inc Lovington, NM | $232,536,118 | $95,597,033 |
Prairie Land Electric Cooperative Inc Norton, KS | $193,607,034 | $87,385,850 |
Victory Electric Cooperative Association Inc Dodge City, KS | $181,839,680 | $85,802,968 |
Northeast Oklahoma Electric Cooperative Inc Vinita, OK | $249,522,381 | $85,761,419 |
Moon Lake Electric Association Inc Roosevelt, UT | $157,473,371 | $84,270,268 |
Mohave Electric Cooperative Inc Bullhead City, AZ | $252,184,313 | $80,080,972 |
Verdigris Valley Electric Cooperative Incorporated Collinsville, OK | $207,857,115 | $78,783,085 |