Warren Electric Cooperative Inc
- Assets
- $26.4m
- Revenue
- $10.5m
- Investments
- $2.7m
- Employees
- 24
- Location
- Youngsville, PA
- Founding
- 12/1942
- Data as of
- 12/2021
- EIN
- 25-0865701
Organization Overview
Warren Electric Cooperative Inc is located in Youngsville, PA. The organization was established in 1942. 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, Warren Electric Cooperative Inc employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Warren 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, Warren Electric Cooperative Inc generated $10.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $9.4m during the year ending 12/2021. While expenses have increased by 0.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
COOPERATIVE ELECTRIC ORGANIZATION PROVIDING ELECTRICITY TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRICITY TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Franklin General Manager & CEO | Officer | 40 | $162,912 |
Todd M Mcclain Administration Manager | Officer | 40 | $111,811 |
Vicki Stec Secretary | Trustee | 2 | $5,090 |
Dennis Johnson Director | Trustee | 2 | $4,125 |
Richard Harrington Director | Trustee | 2 | $3,740 |
John Hagberg Director | Trustee | 2 | $3,740 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hazlett Tree Service R-o-w Clearing | 12/30/20 | $480,091 |
Jaflo Inc R-o-w Clearing | 12/30/20 | $408,490 |
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 | $9,879,090 |
| Investment income | $10,819 |
| 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 | $10,468,215 |
| 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 | $586,116 |
| Compensation of current officers, directors, key employees. | $403,526 |
| 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 | $10,444 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $976,896 |
| Insurance | $0 |
| All other expenses | $713,151 |
| Total functional expenses | $9,356,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $638,905 |
| Savings and temporary cash investments | $2,970,358 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,461,840 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $774,883 |
| Prepaid expenses and deferred charges | $155,769 |
| Net Land, buildings, and equipment | $17,380,728 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,664,958 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $333,992 |
| Total assets | $26,381,433 |
| Accounts payable and accrued expenses | $2,246,161 |
| 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 | $292,635 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $252,312 |
| Total liabilities | $2,791,108 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $11,694,371 |
| Retained earnings, endowment, accumulated income, or other funds | $11,895,954 |
| Total liabilities and net assets/fund balances | $26,381,433 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Licking Rural Electrification Inc Newark, OH | $14,456,355 | $20,280,714 |
Holmes-Wayne Electric Cooperative Inc Millersburg, OH | $106,409,889 | $19,641,088 |
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 |
North Western Electric Cooperative Bryan, OH | $40,775,268 | $17,328,777 |
Frontier Power Company Coshocton, OH | $49,311,017 | $16,508,516 |
Darke Rural Electric Cooperative Inc Greenville, OH | $41,219,507 | $16,435,137 |
Adams Rural Electric Cooperative Inc West Union, OH | $40,089,293 | $17,363,278 |
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 |