Plumas-Sierra Rural Electric Cooperative Inc
- Assets
- $104.0m
- Revenue
- $28.7m
- Investments
- $7.8m
- Employees
- 58
- Location
- Portola, CA
- Founding
- 07/1939
- Data as of
- 12/2021
- EIN
- 94-0775035
Organization Overview
Plumas-Sierra Rural Electric Cooperative Inc is located in Portola, CA. 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 12/2021, Plumas-Sierra Rural Electric Cooperative Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plumas-Sierra Rural 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 12/2021, Plumas-Sierra Rural Electric Cooperative Inc generated $28.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $28.0m during the year ending 12/2021. While expenses have increased by 1.0% 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
PROVIDE ELECTRICAL SERVICE TO COOPERATIVE MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE PROVIDES ELECTRICAL SERVICE TO COOPERATIVE MEMBERS. AS OF DECEMBER 31, 2021 THERE WERE 8,156 CUSTOMERS BILLED FOR SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert W Marshall CEO / General Manager | Officer | 49 | $530,526 |
Jason Harston Manager Of Engineering & O | 62 | $232,570 | |
William Newberg CFO | Officer | 45 | $217,665 |
Aaron Whitfield Telecom COO | 44 | $195,945 | |
Micthell Carr Line Working Foreman | 47 | $191,980 | |
Jason Tow Line Working Foreman | 46 | $180,424 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jimmy D West Jim West Tree Service Tree Trimming | 12/30/21 | $489,420 |
Dave Sims Toppers Tree Service Tree Trimming | 12/30/21 | $499,024 |
Somach Simmons & Dunn Attorney (Legal Services) | 12/30/21 | $103,618 |
James E Koskinen Vehicle Service & Repairs | 12/30/21 | $348,914 |
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 | $28,051,424 |
| Investment income | $484,426 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $157,615 |
| 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 | $28,694,760 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $959 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $345,361 |
| Compensation of current officers, directors, key employees. | $1,129,832 |
| 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 | $1,697,558 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,120,030 |
| Insurance | $0 |
| All other expenses | -$1,150,000 |
| Total functional expenses | $28,023,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,846,971 |
| Savings and temporary cash investments | $3,094,306 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,554,629 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $548,591 |
| Net Land, buildings, and equipment | $70,529,561 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,809,430 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,631,470 |
| Total assets | $104,014,958 |
| Accounts payable and accrued expenses | $4,556,452 |
| Grants payable | $0 |
| Deferred revenue | $255,812 |
| 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 | $52,552,296 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,522,316 |
| Total liabilities | $61,886,876 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $33,540 |
| Paid-in or capital surplus, or land, building, or equipment fund | $42,094,542 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $104,014,958 |
Peer Organizations
| 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 |
Mohave Electric Cooperative Inc Bullhead City, AZ | $252,184,313 | $80,080,972 |
Central Electric Cooperative Inc Redmond, OR | $242,542,165 | $105,052,324 |
Navopache Electric Cooperative Incorporated Lakeside, AZ | $154,873,942 | $59,797,465 |
Oregon Trail Electric Consumers Cooperative Inc Baker City, OR | $131,875,952 | $59,383,158 |
Wells Rural Electric Co Wells, NV | $65,645,854 | $46,093,733 |
Consumers Power Inc Philomath, OR | $143,908,796 | $44,110,626 |
Coos-Curry Electric Cooperative Inc Port Orford, OR | $114,567,418 | $40,713,862 |
Mt Wheeler Power Inc Ely, NV | $62,442,226 | $39,954,685 |
Midstate Electric Cooperative Inc La Pine, OR | $76,704,845 | $36,643,813 |
Salem Electric Salem, OR | $70,962,090 | $31,105,436 |