Norris Electric Cooperative
- Assets
- $122.7m
- Revenue
- $43.8m
- Investments
- $0.0
- Employees
- 54
- Location
- Newton, IL
- Founding
- 09/1941
- Data as of
- 12/2021
- EIN
- 37-0442695
Organization Overview
Norris Electric Cooperative is located in Newton, IL. The organization was established in 1941. 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, Norris Electric Cooperative employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norris 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 12/2021, Norris Electric Cooperative generated $43.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $41.7m during the year ending 12/2021. While expenses have increased by 0.7% 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
DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS OF THE COOPERATIVE
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 |
|---|---|---|---|
Tami Phillips CEO | Officer | 52.5 | $183,258 |
Steve Hunzinger Lineman | 49.19 | $138,345 | |
Ian Moore Lineman | 48.65 | $136,595 | |
Douglas Casey Maint Lineman | 47.14 | $127,406 | |
Connor Walters Lineman | 46.1 | $123,257 | |
Ralph Bowersock Jr Lineman | 45.82 | $122,936 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Henkels & Mccoy Inc Utility Construction | 12/30/21 | $3,779,113 |
Gill Tree Inc Tree Clearing | 12/30/21 | $384,017 |
Jw Didado Electric Electrical Contracting | 12/30/21 | $427,449 |
Big D Electrical Contractors Inc Electrical Contracting | 12/30/21 | $302,130 |
Asplundh Tree Experts Co Right Of Way Clearing | 12/30/21 | $1,401,637 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,375,039 |
| 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 | $1,375,039 |
| Total Program Service Revenue | $42,409,340 |
| Investment income | -$7,577 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $87,770 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,756,656 |
| 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. | $68,984 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $268,314 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,914 |
| Fees for services: Accounting | $15,120 |
| 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 | $496,443 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,794,173 |
| Insurance | $0 |
| All other expenses | $1,809,231 |
| Total functional expenses | $41,658,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,192,679 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,037,519 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,342,784 |
| Prepaid expenses and deferred charges | $136,622 |
| Net Land, buildings, and equipment | $109,336,532 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,633,703 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $122,679,839 |
| Accounts payable and accrued expenses | $13,090,995 |
| 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 | $29,431,443 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,936,913 |
| Total liabilities | $46,459,351 |
| 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 | $6,413,265 |
| Retained earnings, endowment, accumulated income, or other funds | $69,807,223 |
| Total liabilities and net assets/fund balances | $122,679,839 |
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 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
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 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
West Kentucky Rural Electric Cooperative Corporation Mayfield, KY | $175,044,197 | $94,020,746 |
Southeastern Illinois Electric Carrier Mills, IL | $211,832,578 | $85,978,289 |
Corn Belt Electric Cooperative Inc Bloomington, IL | $225,280,163 | $84,317,914 |
Nolin Rural Electric Cooperative Corporation Elizabethtown, KY | $169,060,241 | $80,995,142 |