Adams-Columbia Electric Co-Op
- Assets
- $255.2m
- Revenue
- $86.2m
- Investments
- $1.5m
- Employees
- 90
- Location
- Friendship, WI
- Founding
- 11/1942
- Data as of
- 12/2023
- EIN
- 39-0121840
Organization Overview
Adams-Columbia Electric Co-Op is located in Friendship, WI. The organization was established in 1942. 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, Adams-Columbia Electric Co-Op employed 90 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adams-Columbia Electric Co-Op 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, Adams-Columbia Electric Co-Op generated $86.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $86.1m during the year ending 12/2023. While expenses have increased by 3.1% 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
TO SUPPLY ELECTRICITY TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPLYING ELECTRICITY TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John West General Mana | Officer | 41 | $250,765 |
Jon Congdon General Mana | 46 | $182,383 | |
Elizabeth Hendricksen Fin Manager | 44 | $154,115 | |
Mindy Kerska Mem Svcs/tra | 41 | $148,311 | |
Joshua Berger Oper & Engr | 47 | $134,232 | |
Shawn Pietrzak Oper Supervi | 49 | $137,969 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zielie Tree Service Inc Line Clearance | 12/30/23 | $1,566,592 |
Mj Electric Ele Cont Sub | 12/30/23 | $1,381,710 |
J & R Underground Llc Install Undergr | 12/30/23 | $874,326 |
Allen Steele Co Inc Install Undergr | 12/30/23 | $783,400 |
Vannguard Utility Partners Inc Location Serv | 12/30/23 | $663,636 |
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 | $83,779,419 |
| Investment income | $403,099 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $782,917 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $42,536 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,231,995 |
| 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 | $6,628,672 |
| Compensation of current officers, directors, key employees. | $383,887 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $5,154,921 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,819,561 |
| Insurance | $0 |
| All other expenses | $4,015,007 |
| Total functional expenses | $86,095,341 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,184,735 |
| Savings and temporary cash investments | $3,133,240 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,104,733 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $933,938 |
| Inventories for sale or use | $3,763,138 |
| Prepaid expenses and deferred charges | $457,561 |
| Net Land, buildings, and equipment | $209,706,960 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,510,854 |
| Investments—program-related | $26,023,600 |
| Intangible assets | $0 |
| Other assets | $348,965 |
| Total assets | $255,167,724 |
| Accounts payable and accrued expenses | $5,017,719 |
| 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 | $132,368,980 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,795,018 |
| Total liabilities | $144,181,717 |
| 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 | $110,986,007 |
| Total liabilities and net assets/fund balances | $255,167,724 |