New Enterprise Rural Electric Cooperative Inc

Organization Overview

New Enterprise Rural Electric Cooperative Inc is located in New Enterprise, PA. The organization was established in 1943. 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, New Enterprise Rural Electric Cooperative Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Enterprise 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, New Enterprise Rural Electric Cooperative Inc generated $8.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $8.0m during the year ending 12/2021. While expenses have increased by 3.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

COOPERATIVE ELECTRIC ORGANIZATION PROVIDING RELIABLE ELECTRIC SERVICE TO MEMBERS AT THE LOWEST POSSIBLE COST

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDING AFFORDABLE ELECTRICITY TO MORE THAN 3,600 MEMBERS AS ONE OF 750 DISTRIBUTION COOPERATIVES THROUGHOUT THE COUNTRY THAT HAVE CREATED AND ARE MEMBERS OF TOUCHSTONE ENERGY COOPERATIVE.


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Board, Officers & Key Employees

Name (title)Compensation
Mark Morrison
Manager/ceo
$118,953
David Bequeath
Secretary
$4,078
Tim Newman
Vice President
$4,078
Leroy Walls
President
$3,568
Curtis Brant
Treasurer
$3,568
Merle Helsel
Director & Assistant Sec'y
$3,568

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $272,042
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$272,042
Total Program Service Revenue$8,198,265
Investment income $7,875
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $37,529
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,515,711

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