West Oregon Electric Cooperative Inc
- Assets
- $51.8m
- Revenue
- $15.1m
- Investments
- $0.0
- Employees
- 30
- Location
- Vernonia, OR
- Founding
- 09/1945
- Data as of
- 12/2023
- EIN
- 93-0324524
Organization Overview
West Oregon Electric Cooperative Inc is located in Vernonia, OR. The organization was established in 1945. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, West Oregon Electric Cooperative Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. West Oregon 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 12/2023, West Oregon Electric Cooperative Inc generated $15.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $15.1m during the year ending 12/2023. While expenses have increased by 6.2% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC ENERGY TO ITS MEMBERS IN THE SERVICE TERRITORY OF NORTHWEST OREGON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRIC ENERGY TO ITS MEMBERS IN THE SERVICE TERRITORY OF NORTHWEST OREGON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia M Jordan Vice President | OfficerTrustee | 2 | $5,919 |
Paul Seamons Director | Trustee | 2 | $2,100 |
James Buxton President | OfficerTrustee | 2 | $3,750 |
Robert B Costley Director | Trustee | 2 | $2,250 |
Jolene Jonas Director | Trustee | 2 | $3,600 |
Mark Ludeman Secretary/treasurer | OfficerTrustee | 2 | $2,700 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pngc Purchased Power | 12/30/23 | $2,748,592 |
Dj's Electrical Inc High Voltage Electrical Work | 12/30/23 | $1,859,301 |
Cobank Financial Services | 12/30/23 | $1,000,000 |
Robinson Brothers Construction Right Of Way Maintenance | 12/30/23 | $842,534 |
Nreca Employee Benefits | 12/30/23 | $1,434,306 |
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 | $14,578,901 |
| Investment income | $527,587 |
| 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 | $15,106,488 |
| 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 | $1,381,940 |
| Compensation of current officers, directors, key employees. | $1,189,051 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $869,956 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,369,558 |
| Insurance | $0 |
| All other expenses | $638,775 |
| Total functional expenses | $15,106,488 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,183,117 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,700,038 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,056,044 |
| Prepaid expenses and deferred charges | $403,459 |
| Net Land, buildings, and equipment | $25,299,965 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $11,522,378 |
| Intangible assets | $0 |
| Other assets | $10,663,192 |
| Total assets | $51,828,193 |
| Accounts payable and accrued expenses | $710,263 |
| 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 | $22,115,816 |
| Unsecured mortgages and notes payable | $2,000,000 |
| Other liabilities | $608,676 |
| Total liabilities | $25,434,755 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $10,344 |
| Paid-in or capital surplus, or land, building, or equipment fund | $25,895,513 |
| Retained earnings, endowment, accumulated income, or other funds | $487,581 |
| Total liabilities and net assets/fund balances | $51,828,193 |