Polk-Burnett Electric Cooperative
- Assets
- $110.8m
- Revenue
- $39.0m
- Investments
- $3.9m
- Employees
- 53
- Location
- Centuria, WI
- Founding
- 02/1943
- Data as of
- 12/2023
- EIN
- 39-0544115
Organization Overview
Polk-Burnett Electric Cooperative is located in Centuria, WI. The organization was established in 1943. 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, Polk-Burnett Electric Cooperative employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Polk-Burnett 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, Polk-Burnett Electric Cooperative generated $39.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $37.6m during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 9 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 BENEFIT MEMBER-OWNERS BY PROVIDING RELIABLE ELECTRICITY WITH EFFICIENCY AND EXTRAORDINARY SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE-SALE OF ELECTRICITY AND MERCHANDISE TO MEMBERS OF THE COOPERATIVE.
BOARD MEMBER COMPENSATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Stroshane Gm/ceo | Officer | 55 | $235,473 |
Jesse Seering Operations M | 51 | $138,678 | |
Heather Gerber Accounting M | Officer | 43 | $108,465 |
Matthew Kurtzhals Is Manager | 45 | $129,451 | |
Travis Gingras Lineman | 43 | $116,506 | |
Cody Engstrand Lineman | 42 | $117,014 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Zielie's Tree Service Tree Cutting | 12/30/23 | $571,885 |
Push Inc Line Constructi | 12/30/23 | $490,566 |
A-1 Power Line Constr | 12/30/23 | $360,868 |
Badgerland Utilities Herbicide App | 12/30/23 | $239,220 |
Tjader And Highstrom Utility Service Overhead Line | 12/30/23 | $230,109 |
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 | $36,337,183 |
| Investment income | $68,850 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $56,880 |
| Net Gain/Loss on Asset Sales | $46,468 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$105,482 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,989,288 |
| 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 | $3,822,140 |
| Compensation of current officers, directors, key employees. | $404,988 |
| 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 | $1,468,202 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,228,780 |
| Insurance | $0 |
| All other expenses | $1,831,896 |
| Total functional expenses | $37,586,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $509,570 |
| Savings and temporary cash investments | $402,233 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,501,628 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,034,380 |
| Prepaid expenses and deferred charges | $340,517 |
| Net Land, buildings, and equipment | $84,523,976 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,890,198 |
| Investments—program-related | $17,645,298 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $110,847,800 |
| Accounts payable and accrued expenses | $5,798,568 |
| 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 | $35,330,850 |
| Unsecured mortgages and notes payable | $1,000,000 |
| Other liabilities | $2,783,502 |
| Total liabilities | $44,912,920 |
| 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 | $65,934,880 |
| Total liabilities and net assets/fund balances | $110,847,800 |