Washington Electric Cooperative Inc
- Assets
- $69.3m
- Revenue
- $22.8m
- Investments
- $8.9m
- Employees
- 33
- Location
- Marietta, OH
- Founding
- 10/1942
- Data as of
- 12/2022
- EIN
- 31-4335585
Organization Overview
Washington Electric Cooperative Inc is located in Marietta, OH. 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 12/2022, Washington Electric Cooperative Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington 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 12/2022, Washington Electric Cooperative Inc generated $22.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $21.6m during the year ending 12/2022. While expenses have increased by 3.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING ELECTRIC POWER TO COOPERATIVE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL DISTRIBUTION OF ELECTRIC ENERGY AND RELATED SERVICES TO 10,524 CONSUMER ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Triplett General Mgr/ | Officer | 40 | $195,869 |
Jamie Hummerich Service Crew | 52 | $138,841 | |
Kenneth Angle Service Crew | 49 | $124,191 | |
Ross Wallace Construction | 48 | $119,810 | |
Dakota Hornak Service Crew | 49 | $116,923 | |
Larry Nalley Service Crew | 47 | $120,610 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
United Utility Supply Material | 12/30/22 | $1,262,483 |
Fila's Tree Service Llc Row Clearing | 12/30/22 | $1,152,362 |
Nreca Employee Insur | 12/30/22 | $531,279 |
New River Electric Corp Line/constrctn | 12/30/22 | $984,574 |
Asplundh Tree Expert Co Row Clearing | 12/30/22 | $459,911 |
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 | $21,828,430 |
| Investment income | $44,594 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $270,917 |
| Net Gain/Loss on Asset Sales | $2,157 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,812,534 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,750 |
| Grants and other assistance to domestic individuals. | $6,150 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $240,069 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,758,343 |
| Pension plan accruals and contributions | $403,393 |
| Other employee benefits | $429,201 |
| Payroll taxes | $139,460 |
| Fees for services: Management | $46,860 |
| Fees for services: Legal | $3,182 |
| Fees for services: Accounting | $21,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,320 |
| Advertising and promotion | $7,885 |
| Office expenses | $147,215 |
| Information technology | $174,492 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $33,783 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $48,167 |
| Interest | $1,213,060 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,931,163 |
| Insurance | $74,690 |
| All other expenses | $481,279 |
| Total functional expenses | $21,604,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,227,259 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,570,817 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $783,381 |
| Prepaid expenses and deferred charges | $938,416 |
| Net Land, buildings, and equipment | $51,922,394 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,853,873 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $69,296,140 |
| Accounts payable and accrued expenses | $3,806,727 |
| 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 | $37,043,424 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $40,850,151 |
| 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 | $28,445,989 |
| Total liabilities and net assets/fund balances | $69,296,140 |