Buckeye Rural Electric Co-Op Inc
- Assets
- $133.1m
- Revenue
- $42.9m
- Investments
- $0.0
- Employees
- 57
- Location
- Rio Grande, OH
- Founding
- 08/1944
- Data as of
- 12/2021
- EIN
- 31-4137520
Organization Overview
Buckeye Rural Electric Co-Op Inc is located in Rio Grande, OH. The organization was established in 1944. 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, Buckeye Rural Electric Co-Op Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buckeye Rural Electric Co-Op 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, Buckeye Rural Electric Co-Op Inc generated $42.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $42.9m 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 MISSION OF THE COOPERATIVE IS TO PROVIDE ELECTRIC SERVICE TO THE MEMBERS OF THE COOPERATIVE IN THE NINE COUNTIES OF SOUTHERN OHIO. THE COOPERATIVE IS A MEMBER-OWNED, LOCALLY MANAGED AND DEMOCRATICALLY- CONTROLLED UTILITY WITH ROOTS GOING BACK TO THE MID-1930S.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NUMBER OF MEMBERS SERVED = 14,834, MONTHLY PUBLICATION-OHIO COOPERATIVE LIVING, COOPERATIVE IS AN INTERGRAL PART OF THE COMMUNITY, PROVIDING ELECTRIC SERVICE TO THE MEMBERS IN 9 OHIO COUNTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tonda Meadows Evp.gm | Officer | 40 | $186,273 |
Maggie Rucker CFO | Officer | 40 | $163,928 |
Jeffrey Haner Line Supervi | 40 | $145,418 | |
James Stapleton Lineman | 54.64 | $141,143 | |
Timothy Tucker Lineman | 52.6 | $132,962 | |
James Walker Lineman | 51.43 | $126,923 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Power System Engineering Inc Engineering | 12/30/21 | $382,345 |
New River Electrical Corp Construction | 12/30/21 | $4,536,671 |
Jaflo Inc Row | 12/30/21 | $645,712 |
Career Connections Inc Employee Leasin | 12/30/21 | $389,696 |
Wildfire Pipeline Contractors Row | 12/30/21 | $857,460 |
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 | $41,703,190 |
| Investment income | $44,797 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,822 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,883,645 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,200 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,689,056 |
| Compensation of current officers, directors, key employees. | $623,590 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,727,353 |
| Pension plan accruals and contributions | $154,398 |
| Other employee benefits | $0 |
| Payroll taxes | $321,718 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $163,394 |
| Fees for services: Accounting | $30,877 |
| 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 | $85,686 |
| Information technology | $324,456 |
| 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 | $2,742,794 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,629,221 |
| Insurance | $43,649 |
| All other expenses | $1,274,678 |
| Total functional expenses | $42,883,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,487,146 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,574,829 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,906,972 |
| Prepaid expenses and deferred charges | $2,474,944 |
| Net Land, buildings, and equipment | $102,127,383 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,509,675 |
| Intangible assets | $0 |
| Other assets | $17,172 |
| Total assets | $133,098,121 |
| Accounts payable and accrued expenses | $4,282,060 |
| 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 | $77,490,094 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,439,195 |
| Total liabilities | $87,211,349 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $45,886,772 |
| Total liabilities and net assets/fund balances | $133,098,121 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northeastern Rural Electric Membership Corporation Columbia City, IN | $154,005,839 | $126,158,719 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |
South Central Indiana Rural Electric Membership Corporation Martinsville, IN | $273,130,010 | $92,514,436 |
West Kentucky Rural Electric Cooperative Corporation Mayfield, KY | $175,044,197 | $94,020,746 |
Nolin Rural Electric Cooperative Corporation Elizabethtown, KY | $169,060,241 | $80,995,142 |
Fleming-Mason Energy Cooperative Inc Flemingsburg, KY | $142,667,683 | $79,467,396 |
Cloverland Electric Cooperative Inc Sault Ste Marie, MI | $210,343,579 | $87,157,838 |
Tipmont Rural Electric Membership Corporation Linden, IN | $238,009,464 | $75,841,839 |
Adams Electric Cooperative Inc Gettysburg, PA | $218,291,432 | $70,869,610 |
Pioneer Rural Electric Cooperative Inc Piqua, OH | $137,811,122 | $72,827,818 |