Paulding-Putnam Electric Cooperative Inc
- Assets
- $113.7m
- Revenue
- $45.5m
- Investments
- $22.6m
- Employees
- 51
- Location
- Paulding, OH
- Founding
- 06/1939
- Data as of
- 12/2021
- EIN
- 34-4325955
Organization Overview
Paulding-Putnam Electric Cooperative Inc is located in Paulding, OH. The organization was established in 1939. 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, Paulding-Putnam Electric Cooperative Inc employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Paulding-Putnam 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, Paulding-Putnam Electric Cooperative Inc generated $45.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $45.5m during the year ending 12/2021. While expenses have increased by 2.2% 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
DISTRIBUTE ELECTRICITY SAFELY, RELIABLY AND AFFORDABLY TO OUR MEMBERS/CONSUMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICAL ENERGY TO 13,390 CONSUMERS AT 13,872 SERVICE POINTS AND THE MAINTENANCE OF APPROXIMATELY 1,700 MILES OF OVERHEAD AND UNDERGROUND DISTRIBUTION LINES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Carter CEO | Officer | 40 | $252,998 |
Steven Mcmichael Trustee | OfficerTrustee | 8.86 | $18,460 |
John M Saxton Chairman | OfficerTrustee | 8.7 | $17,729 |
Timothy A Derck Vice Chairma | OfficerTrustee | 4.43 | $12,875 |
Joseph Kohnen Trustee | Trustee | 4.99 | $11,660 |
Ronald Black Secretary/tr | OfficerTrustee | 4.66 | $11,544 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Osmose Utility Services Inc Pole Inspection | 12/30/21 | $143,107 |
Frankart Power Line Services Llc Line Rebuilds | 12/30/21 | $3,139,654 |
Netgain It Services | 12/30/21 | $309,493 |
Treecore Llc Sub Rebuild | 12/30/21 | $398,661 |
Nisc Line Rebuilds | 12/30/21 | $283,080 |
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 | $43,965,953 |
| Investment income | $1,331,677 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $103,421 |
| Net Gain/Loss on Asset Sales | $14,350 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,501,402 |
| 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 | $4,781,350 |
| Compensation of current officers, directors, key employees. | $109,995 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,759,953 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $36,892 |
| Payroll taxes | $163,365 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,464 |
| Fees for services: Accounting | $20,500 |
| 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 | $28,698 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,810,275 |
| Travel | $36,705 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,398 |
| Interest | $1,435,634 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,488,972 |
| Insurance | $34,113 |
| All other expenses | $1,416,530 |
| Total functional expenses | $45,501,402 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $269,702 |
| Savings and temporary cash investments | $166,932 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,114,390 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,624 |
| Inventories for sale or use | $687,041 |
| Prepaid expenses and deferred charges | $262,227 |
| Net Land, buildings, and equipment | $86,580,814 |
| Investments—publicly traded securities | $26,481 |
| Investments—other securities | $22,561,292 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,241 |
| Total assets | $113,731,744 |
| Accounts payable and accrued expenses | $5,574,136 |
| 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 | $35,777,476 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $180,900 |
| Total liabilities | $41,532,512 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $65,163 |
| Paid-in or capital surplus, or land, building, or equipment fund | $72,134,069 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $113,731,744 |
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 |