Harney Electric Cooperative Inc
- Assets
- $33.6m
- Revenue
- $13.5m
- Investments
- $0.0
- Employees
- 25
- Location
- Hines, OR
- Founding
- 10/1959
- Data as of
- 12/2023
- EIN
- 93-0454456
Organization Overview
Harney Electric Cooperative Inc is located in Hines, OR. The organization was established in 1959. 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 12/2023, Harney Electric Cooperative Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harney 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, Harney Electric Cooperative Inc generated $13.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $13.5m during the year ending 12/2023. While expenses have increased by 1.1% per year over the past 9 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 LOW COST ELECTRICITY TO OUR MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARNEY ELECTRIC COOPERATIVE, INC., IS A RURAL ELECTRIC COOPERATIVE PROVIDING ELECTRIC SERVICES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Flippence General Manager | Officer | 40 | $225,469 |
Jason Hill Operations Mngr | 40 | $167,320 | |
Michael Estrada Foreman | 46 | $147,343 | |
Charles Knox Foreman | 45 | $146,569 | |
Jason Radinovich Line Super | 40 | $145,006 | |
Bruce Rickman Foreman | 44 | $135,844 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Estrada Consultants Llc Line Inspections | 12/30/23 | $100,660 |
Bki Engineerng Services Engineering | 12/30/23 | $192,019 |
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 | $13,161,298 |
| Investment income | $305,237 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $54,419 |
| 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 | $13,519,428 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,587,465 |
| Compensation of current officers, directors, key employees. | $546,493 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,204,522 |
| Pension plan accruals and contributions | $269,545 |
| Other employee benefits | $512,728 |
| Payroll taxes | $190,241 |
| 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 | $314,935 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,403,380 |
| Insurance | $0 |
| All other expenses | -$3,146,175 |
| Total functional expenses | $13,519,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,089,392 |
| Savings and temporary cash investments | $1,750,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $973,969 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,112,340 |
| Prepaid expenses and deferred charges | $93,276 |
| Net Land, buildings, and equipment | $22,282,391 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $310,113 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $33,611,481 |
| Accounts payable and accrued expenses | $1,228,834 |
| 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 | $9,305,480 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,520,058 |
| Total liabilities | $12,054,372 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12,440 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,202,074 |
| Retained earnings, endowment, accumulated income, or other funds | $20,342,595 |
| Total liabilities and net assets/fund balances | $33,611,481 |