Price Electric Cooperative Inc
- Assets
- $53.4m
- Revenue
- $14.9m
- Investments
- $0.0
- Employees
- 25
- Location
- Phillips, WI
- Founding
- 11/1942
- Data as of
- 12/2022
- EIN
- 39-0548758
Organization Overview
Price Electric Cooperative Inc is located in Phillips, 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 12/2022, Price Electric Cooperative Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Price Electric Cooperative 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 12/2022, Price Electric Cooperative Inc generated $14.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $14.9m during the year ending 12/2022. While expenses have increased by 2.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTE ELECTRIC SERVICE TO RURAL MEMBERS/CONSUMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIMARY EXEMPT PURPOSE IS THE DISTRIBUTION OF ELECTRIC SERVICE TO 8,776 RURAL MEMBERS/CONSUMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isaac D Weik Lineman | 40 | $139,092 | |
Jesse Heinz Lineman | 40 | $151,415 | |
Christopher Burnis Lineman | 40 | $133,416 | |
Loren Erickson Mgr Of Fin A | Officer | 45 | $98,625 |
David Pisca Foreman | 40 | $131,607 | |
Jacob Kraetke Lineman | 40 | $142,526 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Makovsky Brush Service Right Of Way Cl | 12/30/22 | $901,615 |
Tjader & Highstrom Utility Serivces Construction | 12/30/22 | $273,142 |
A-1 Power Construction | 12/30/22 | $139,710 |
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 | $14,432,704 |
| Investment income | $14,413 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $64,843 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $338,430 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,850,390 |
| 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 | $508,744 |
| Compensation of current officers, directors, key employees. | $315,687 |
| 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 | $1,107,725 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,778,645 |
| Insurance | $0 |
| All other expenses | $991,266 |
| Total functional expenses | $14,850,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $99,223 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,582,614 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,985,721 |
| Prepaid expenses and deferred charges | $192,673 |
| Net Land, buildings, and equipment | $43,338,030 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,042,332 |
| Intangible assets | $151,035 |
| Other assets | $24,184 |
| Total assets | $53,415,812 |
| Accounts payable and accrued expenses | $1,962,706 |
| 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 | $29,419,385 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $621,063 |
| Total liabilities | $32,003,154 |
| 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 | $21,412,658 |
| Total liabilities and net assets/fund balances | $53,415,812 |