Oneida-Madison Electric Cooperative Inc
- Assets
- $7.5m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 10
- Location
- Bouckville, NY
- Founding
- 10/1964
- Data as of
- 12/2021
- EIN
- 15-0405592
Organization Overview
Oneida-Madison Electric Cooperative Inc is located in Bouckville, NY. The organization was established in 1964. 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, Oneida-Madison Electric Cooperative Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oneida-Madison 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, Oneida-Madison Electric Cooperative Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. While expenses have increased by 1.4% 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
THE AIM OF ONEIDA-MADISON ELECTRIC COOPERATIVE, INC. IS TO MAKE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 2109 ELECTRIC SERVICES TO 1743 MEMBERS OVER 263.67 MILES OF DISTRIBUTION LINE.ELECTRIC SERVICE WAS PROVIDED ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL TO ALL CUSTOMERS PURCHASING ELECTRIC SERVICE FROM THE COOPERATIVE DURING THE YEAR.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith D Pitman Pe Ceo/gen Manager | Officer | 37.8 | $123,781 |
Daniel Saulsgiver Sec - Treasurer | OfficerTrustee | 2.8 | $6,380 |
Rudy Brouillette President | OfficerTrustee | 3.6 | $5,642 |
Thomas Stone Vice President | OfficerTrustee | 2.2 | $3,356 |
James Nassimos Director | Trustee | 1.8 | $3,341 |
John Lehr Director | Trustee | 1.8 | $3,171 |
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 | $2,837,473 |
| Investment income | $4,717 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $14,100 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,856,346 |
| 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 | $191,039 |
| Compensation of current officers, directors, key employees. | $189,109 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $384,710 |
| Pension plan accruals and contributions | $82,103 |
| Other employee benefits | $83,717 |
| Payroll taxes | $40,503 |
| 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 | $108,868 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $259,494 |
| Insurance | $0 |
| All other expenses | $40,385 |
| Total functional expenses | $2,856,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,036 |
| Savings and temporary cash investments | $473,905 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $514,142 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $127,503 |
| Prepaid expenses and deferred charges | $85,168 |
| Net Land, buildings, and equipment | $5,850,807 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $322,856 |
| Intangible assets | $0 |
| Other assets | $99,300 |
| Total assets | $7,515,717 |
| Accounts payable and accrued expenses | $126,647 |
| Grants payable | $0 |
| Deferred revenue | $68,099 |
| 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 | $2,649,336 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,021,197 |
| Total liabilities | $3,865,279 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12,890 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,637,548 |
| Total liabilities and net assets/fund balances | $7,515,717 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rea Energy Cooperative Inc Indiana, PA | $139,260,164 | $26,641,958 |
Claverack Rural Electric Cooperative Inc Wysox, PA | $106,788,216 | $23,056,414 |
Northwestern Rural Electric Cooperative Association Inc Cambridge Springs, PA | $114,436,291 | $21,945,807 |
Valley Rural Electric Cooperative Inc Huntingdon, PA | $99,255,907 | $22,053,014 |
Bedford Rural Electric Cooperative Inc Bedford, PA | $56,175,004 | $11,935,648 |
Steuben Rural Electric Cooperative Inc Bath, NY | $38,467,203 | $11,402,118 |
Griffiss Utility Services Corporation Rome, NY | $55,633,471 | $10,494,870 |
Otsego Electric Cooperative Inc Hartwick, NY | $49,068,805 | $10,412,060 |
Warren Electric Cooperative Inc Youngsville, PA | $26,381,433 | $10,468,215 |
Delaware County Electric Cooperative Inc Delhi, NY | $31,160,673 | $9,563,968 |
Sullivan County Rural Electric Cooperative Inc Forksville, PA | $24,524,984 | $10,662,179 |
New Enterprise Rural Electric Cooperative Inc New Enterprise, PA | $5,292,225 | $8,515,711 |