Coles-Moultrie Electric Cooperative
- Assets
- $65.1m
- Revenue
- $31.5m
- Investments
- $0.0
- Employees
- 35
- Location
- Mattoon, IL
- Founding
- 02/1940
- Data as of
- 12/2023
- EIN
- 37-0223453
Organization Overview
Coles-Moultrie Electric Cooperative is located in Mattoon, IL. The organization was established in 1940. 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 12/2023, Coles-Moultrie Electric Cooperative employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coles-Moultrie Electric Cooperative 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 12/2023, Coles-Moultrie Electric Cooperative generated $31.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $29.7m during the year ending 12/2023. While expenses have increased by 1.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE RELIABLE ELECTRIC POWER & RELATED SERVICES TO OUR MEMBERS AT THE MOST AFFORDABLE COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Metzger Chairman | OfficerTrustee | 2.09 | $7,424 |
Billy Voyles Vice Chairman | OfficerTrustee | 0.37 | $2,220 |
Andrew Fearn Secretary | OfficerTrustee | 1.92 | $5,000 |
Thomas Sherman Treasurer | OfficerTrustee | 1.76 | $4,200 |
Mike Love Director | Trustee | 0.83 | $3,330 |
Colt Roderick Director | Trustee | 0.57 | $2,220 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fletcher-reinhardt Co New Ami System | 12/30/23 | $2,063,761 |
Anixter Power Solutions Llc Vendor Managed Inventory | 12/30/23 | $1,778,690 |
Endrizzi Contracting Inc Line Clearance | 12/30/23 | $648,809 |
National Information Solutions Cooperati Computer Software | 12/30/23 | $235,543 |
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 | $30,273,395 |
| Investment income | $47,480 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,527,987 |
| 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 | $1,903,068 |
| 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 | $836,537 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,119,794 |
| Insurance | $0 |
| All other expenses | $42,069 |
| Total functional expenses | $29,705,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,342,995 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,546,324 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $392,547 |
| Inventories for sale or use | $313,657 |
| Prepaid expenses and deferred charges | $138,598 |
| Net Land, buildings, and equipment | $42,134,477 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $16,249,940 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $65,118,538 |
| Accounts payable and accrued expenses | $3,064,857 |
| Grants payable | $0 |
| Deferred revenue | $160,730 |
| 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 | $16,268,409 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,802,069 |
| Total liabilities | $23,296,065 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $3,018,962 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $38,803,511 |
| Total liabilities and net assets/fund balances | $65,118,538 |