Farmers Mutual Telephone Company
- Assets
- $3.4m
- Revenue
- $963.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Okolona, OH
- Founding
- 12/1945
- Data as of
- 12/2017
- EIN
- 34-4230512
Organization Overview
Farmers Mutual Telephone Company is located in Okolona, OH. The organization was established in 1945. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2017, Farmers Mutual Telephone Company employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farmers Mutual Telephone Company 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 12/2017, Farmers Mutual Telephone Company generated $963.1k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $825.2k during the year ending 12/2017. While expenses have increased by 11.1% per year over the past 3 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE TELEPHONE SERVICE TO LOCAL SUBSCRIBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TELEPHONE SERVICE TO LOCAL SUBSCRIBERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Daman Treasurer | OfficerTrustee | $0 | |
Terry Behnfeldt Vice Preside | OfficerTrustee | $0 | |
Henry Wachtman President | OfficerTrustee | $0 | |
Cheryl Bostelman Manager/secr | Officer | $0 | |
Kenneth Freytag Director | Trustee | $0 | |
Dan Zumfelde Director | Trustee | $0 |
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 | $831,406 |
| Investment income | $3,780 |
| 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 | $963,125 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $4,634 |
| Fees for services: Legal | $160 |
| Fees for services: Accounting | $31,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,425 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,582 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $40,236 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $172,007 |
| Insurance | $0 |
| All other expenses | -$7,457 |
| Total functional expenses | $825,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,736 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,022 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,694 |
| Prepaid expenses and deferred charges | $24,246 |
| Net Land, buildings, and equipment | $2,352,485 |
| Investments—publicly traded securities | $841,655 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,438,838 |
| Accounts payable and accrued expenses | $41,226 |
| Grants payable | $0 |
| Deferred revenue | $17,784 |
| 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 | $997,346 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $44,409 |
| Total liabilities | $1,100,765 |
| Unrestricted restricted net Assets | $0 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $5,564 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $2,338,073 |
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| Organization Name | Assets | Revenue |
|---|---|---|
Hancock Rural Telephone Corporation Greenfield, IN | $147,768,424 | $51,230,558 |
Foothills Rural Telephone Cooperative Corp Inc Staffordsville, KY | $122,987,128 | $34,205,893 |
Merit Network Inc Ann Arbor, MI | $191,780,386 | $28,602,952 |
Mountain Rural Telephone Cooperative Corporation West Liberty, KY | $142,216,155 | $30,956,573 |
Peoples Rural Telephone Cooperative Corporation Inc Mckee, KY | $99,458,138 | $24,354,512 |
Keystone Initiative For Network Based Education & Research Lititz, PA | $86,518,752 | $6,204,433 |
Daviess-Martin County Rural Telephone Corporation Montgomery, IN | $38,835,355 | $7,744,077 |
Wabash Mutual Telephone Co Celina, OH | $16,675,060 | $7,819,409 |
Bascom Mutual Telephone Co Bascom, OH | $15,916,030 | $4,629,697 |
Spruce Knob Seneca Rocks Telephone Inc Riverton, WV | $9,084,789 | $3,420,037 |
Cable Co-Op Oberlin, OH | $1,941,667 | $2,843,130 |
Indiana Telephone Relay Access Corp For The Hearing & Speech Impaired Indianapolis, IN | $10,657,084 | $3,011,868 |