Prairie Power Inc
- Assets
- $704.8m
- Revenue
- $159.9m
- Investments
- $43.1m
- Employees
- 69
- Location
- Springfield, IL
- Founding
- 09/1978
- Data as of
- 12/2021
- EIN
- 37-1013955
Organization Overview
Prairie Power Inc is located in Springfield, IL. The organization was established in 1978. 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, Prairie Power Inc employed 69 individuals. This organization is the central organization for a national or regional group of organizations. Prairie Power 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, Prairie Power Inc generated $159.9m 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 $159.9m during the year ending 12/2021. While expenses have increased by 3.1% 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
MEMBER-OWNED NOT-FOR-PROFIT ELECTRIC GENERATION AND TRANSMISSION COOPERATIVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRIC PURCHASES - PURCHASED AND GENERATED KILOWATT HOURS OF ELECTRICITY FOR SALE TO MEMBER SYSTEMS.
TRANSMISSION OF ELECTRICITY - TRANSMISSION OF ELECTRICITY FROM THE GENERATOR TO OUR MEMBER SYSTEMS
DISTRIBUTION OF ELECTRICITY - DISTRIBUTION OF ELECTRICITY FROM THE SUBSTATION TO OUR MEMBER SYSTEMS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Hobbie President & CEO | Officer | 40 | $439,899 |
Robert Reynolds Sr VP Members & Business Development | Officer | 40 | $219,165 |
Richard Chapman Sr VP Engineering & Operations | Officer | 40 | $218,709 |
Joseph Smith Chief Technology Officer | Officer | 40 | $187,537 |
Crystal Riney VP Finance & Accounting | Officer | 40 | $182,653 |
Micah Bushnell VP Portfolio & Markets | Officer | 40 | $170,087 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jf Electric Inc Electrical Line, Substation, And Utility | 12/30/21 | $5,626,887 |
The Le Myers Company Electrical Line, Substation, And Utility | 12/30/21 | $6,989,384 |
Toth And Associates Inc Engineering Consulting Services | 12/30/21 | $2,406,602 |
L Keeley Construction Co Electrical Line, Substation, And Utility | 12/30/21 | $2,757,224 |
Bhmg Engineers Inc Engineering Consulting Services | 12/30/21 | $1,796,574 |
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 | $158,259,938 |
| Investment income | $1,213,198 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,538 |
| Net Gain/Loss on Asset Sales | $66,943 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $159,851,306 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,264 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $8,000,000 |
| Compensation of current officers, directors, key employees. | $2,269,934 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,851,734 |
| Pension plan accruals and contributions | $1,111,164 |
| Other employee benefits | $1,134,412 |
| Payroll taxes | $506,246 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $478,515 |
| 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 | $2,520 |
| Office expenses | $210,487 |
| Information technology | $860,036 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $32,609 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,311,930 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,033,784 |
| Insurance | $1,152,753 |
| All other expenses | $634,744 |
| Total functional expenses | $159,851,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,103,647 |
| Savings and temporary cash investments | $2,200,669 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,560,514 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $10,983,573 |
| Prepaid expenses and deferred charges | $14,940,012 |
| Net Land, buildings, and equipment | $606,697,987 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $43,059,264 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $301,029 |
| Total assets | $704,846,695 |
| Accounts payable and accrued expenses | $32,485,465 |
| 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 | $450,780,808 |
| Unsecured mortgages and notes payable | $92,769,461 |
| Other liabilities | $4,244,961 |
| Total liabilities | $580,280,695 |
| 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 | $124,566,000 |
| Total liabilities and net assets/fund balances | $704,846,695 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Prairie Power Inc has recieved totaling $72,283.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $72,283 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Wabash Valley Power Association Inc Indianapolis, IN | $1,308,025,251 | $757,452,533 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Dairyland Power Cooperative La Crosse, WI | $1,543,973,952 | $466,517,279 |
Midcontinent Independent System Operator Inc Carmel, IN | $2,446,006,704 | $407,489,988 |
Central Electric Power Cooperative Jefferson City, MO | $478,589,080 | $224,762,707 |
Warren Rural Electric Cooperative Corporation Bowling Green, KY | $321,679,939 | $226,511,221 |
Central Iowa Power Cooperative Cedar Rapids, IA | $899,434,034 | $189,203,690 |
Owen Electric Cooperative Inc Owenton, KY | $280,661,277 | $184,758,521 |
National Electrical Contractors Association Inc Kansas City, MO | $2,543,076 | $175,759,939 |
Corn Belt Power Cooperative Humboldt, IA | $515,608,745 | $168,893,187 |
Southern Illinois Power Cooperative Marion, IL | $684,387,502 | $167,555,011 |