Midwest Energy Cooperative
- Assets
- $334.3m
- Revenue
- $119.3m
- Investments
- $2.8m
- Employees
- 167
- Location
- Cassopolis, MI
- Founding
- 04/2001
- Data as of
- 12/2021
- EIN
- 38-3386126
Organization Overview
Midwest Energy Cooperative, operating under the name Midwest Energy Communications, is located in Cassopolis, MI. The organization was established in 2001. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2021, Midwest Energy Communications employed 167 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midwest Energy Communications 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, Midwest Energy Communications generated $119.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $118.2m during the year ending 12/2021. While expenses have increased by 5.6% 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
PROVIDE ELECTRIC POWER TO MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC POWER TO OVER 30,730 MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Hance Ceo/president | Officer | 65 | $425,801 |
Terry Rubenthaler Cto | Officer | 50 | $325,451 |
Chad Ritchie VP Electric & Fiber Operations | Officer | 50 | $237,329 |
Candy Riem VP Marketing & Member Services | Officer | 50 | $230,400 |
Todd Crandall CFO | Officer | 55 | $227,566 |
Patricia Nowlin VP Of Corporate Communications | 50 | $218,407 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Western Tel-com Inc Contractor - Construction | 12/30/21 | $4,126,409 |
Tree Servants Llc Contractor - Tree Clearing | 12/30/21 | $1,971,563 |
Cc Power Contractor - Construction | 12/30/21 | $4,165,810 |
Ace Cable Contractor - Construction | 12/30/21 | $2,664,146 |
Earthcom Inc Contractor - Construction | 12/30/21 | $2,141,444 |
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 | $111,361,545 |
| Investment income | $120,033 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $33,154 |
| Net Gain/Loss on Asset Sales | $1,393,246 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,858 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $119,294,620 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,807 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $11,733,955 |
| Compensation of current officers, directors, key employees. | $2,059,735 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $265,702 |
| Pension plan accruals and contributions | $828,281 |
| Other employee benefits | $177,783 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $204,815 |
| Fees for services: Accounting | $114,856 |
| 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 | $5,685,660 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,592,900 |
| Insurance | $0 |
| All other expenses | $4,602,824 |
| Total functional expenses | $118,245,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,865,085 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,556,978 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,697,824 |
| Inventories for sale or use | $5,613,659 |
| Prepaid expenses and deferred charges | $5,170,370 |
| Net Land, buildings, and equipment | $248,043,396 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,832,158 |
| Investments—program-related | $43,471,097 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $334,250,567 |
| Accounts payable and accrued expenses | $29,969,975 |
| Grants payable | $0 |
| Deferred revenue | $43,000 |
| 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 | $204,880,106 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,267,677 |
| Total liabilities | $246,160,758 |
| 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 | $88,089,809 |
| Total liabilities and net assets/fund balances | $334,250,567 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Midwest Energy Cooperative Cassopolis, MI | $334,250,567 | $119,294,620 |
Del-Co Water Company Inc Delaware, OH | $318,753,806 | $51,589,765 |
Ohio Farm Bureau Federation Inc Columbus, OH | $50,357,469 | $22,080,243 |
Michigan Farm Bureau Lansing, MI | $21,991,749 | $13,489,298 |
Michigan Dairymens Market Program Novi, MI | $2,715,772 | $11,716,586 |
Indiana Farm Bureau Indianapolis, IN | $22,690,251 | $11,074,675 |
Ohio Soybean Council Worthington, OH | $9,472,196 | $9,336,413 |
National Swine Registry West Lafayette, IN | $2,564,738 | $7,027,546 |
Wisconsin Soybean Marketing Board Inc Madison, WI | $9,285,621 | $7,489,309 |
Indiana Corn Marketing Council Indianapolis, IN | $5,137,582 | $5,167,221 |
Ohio County & Independent Agricultural Societies Delaware, OH | $10,485,071 | $9,270,714 |
Ohio County & Independent Agricultural Societies Canfield, OH | $2,246,488 | $4,939,954 |