Boone Valley Elec Co-Op
- Assets
- $1.4m
- Revenue
- $228.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Renwick, IA
- Founding
- 04/1937
- Data as of
- 12/2023
- EIN
- 42-0147800
Organization Overview
Boone Valley Elec Co-Op is located in Renwick, IA. The organization was established in 1937. 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, Boone Valley Elec Co-Op employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boone Valley Elec 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, Boone Valley Elec Co-Op generated $228.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $154.8k during the year ending 12/2023. While expenses have increased by 2.7% 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
PROVIDE AFFORDABLE ELECTRIC SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AFFORDABLE ELECTRIC SERVICE.
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 |
|---|---|---|---|
Curtis Meinke Director | Trustee | 20 | $12,840 |
Doug Martin Secretary | Trustee | 1 | $1,870 |
Dave Odland President | Trustee | 1 | $800 |
Tom Huntley Director | Trustee | 1 | $725 |
Travis Tate Director | Trustee | 1 | $591 |
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 | $0 |
| Investment income | $93,004 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $126,057 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $228,181 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $16,827 |
| 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 | $1,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,249 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $191 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,490 |
| Insurance | $6,244 |
| All other expenses | $3,933 |
| Total functional expenses | $154,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,569 |
| Savings and temporary cash investments | $298,166 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $72,007 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,730 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $199,880 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $622,330 |
| Total assets | $1,354,682 |
| Accounts payable and accrued expenses | $60,498 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,858 |
| Total liabilities | $67,356 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $560 |
| Paid-in or capital surplus, or land, building, or equipment fund | $398,451 |
| Retained earnings, endowment, accumulated income, or other funds | $888,315 |
| Total liabilities and net assets/fund balances | $1,354,682 |