United Electric Co-Op Inc
- Assets
- $27.1m
- Revenue
- $22.1m
- Investments
- $0.0
- Employees
- 29
- Location
- Heyburn, ID
- Founding
- 11/1997
- Data as of
- 12/2022
- EIN
- 84-1424733
Organization Overview
United Electric Co-Op Inc is located in Heyburn, ID. The organization was established in 1997. 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, United Electric Co-Op Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United Electric Co-Op 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, United Electric Co-Op Inc generated $22.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $22.1m during the year ending 12/2022. While expenses have increased by 3.5% 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
ELECTRIC ENERGY SALES TO PATRONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRIC ENERGY SALES AND MAINTENANCE TO 7,322 ACTIVE SERVICES FOR 4,900 MEMBERS. THE COOPERATIVE PURCHASED 373,859,857 KWH OF ELECTRICITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Darrington General Manager | Officer | 40 | $176,754 |
Trevor Parke Engineering & Operations Mana | 40 | $142,240 | |
Frank A Matthews Line Foreman | 40 | $123,726 | |
Ace Jones Lineman | 40 | $127,264 | |
Charles Fleming Working Foreman | 40 | $122,270 | |
Blair Burkman Lineman | 40 | $125,830 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Premier Pole Inspection Pole Testing | 12/30/21 | $133,602 |
Tree Whisper Tree Service Llc Tree Service | 12/30/21 | $127,840 |
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 | $21,783,340 |
| Investment income | $40,287 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,642 |
| Net Gain/Loss on Asset Sales | $228,436 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,126,425 |
| 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 | $1,670,830 |
| Compensation of current officers, directors, key employees. | $522,716 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,998,787 |
| Pension plan accruals and contributions | $446,501 |
| Other employee benefits | $589,371 |
| Payroll taxes | $174,770 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,657 |
| Fees for services: Accounting | $12,995 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,541 |
| Office expenses | $207,402 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,774 |
| Travel | $61,735 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,282 |
| Interest | $190,004 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,672,220 |
| Insurance | $79,942 |
| All other expenses | -$1,370,955 |
| Total functional expenses | $22,126,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,393,034 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,240,744 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,406,155 |
| Prepaid expenses and deferred charges | $169,146 |
| Net Land, buildings, and equipment | $20,519,303 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $413,110 |
| Total assets | $27,141,492 |
| Accounts payable and accrued expenses | $1,862,243 |
| Grants payable | $0 |
| Deferred revenue | $644,034 |
| 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 | $4,266,973 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $76,000 |
| Total liabilities | $6,849,250 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $490,660 |
| Paid-in or capital surplus, or land, building, or equipment fund | $19,116,700 |
| Retained earnings, endowment, accumulated income, or other funds | $684,882 |
| Total liabilities and net assets/fund balances | $27,141,492 |