Butler County Rural Electric Cooperative
- Assets
- $77.1m
- Revenue
- $31.3m
- Investments
- -$15.3k
- Employees
- 43
- Location
- Allison, IA
- Founding
- 09/1938
- Data as of
- 12/2021
- EIN
- 42-0163705
Organization Overview
Butler County Rural Electric Cooperative is located in Allison, IA. The organization was established in 1938. 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 12/2021, Butler County Rural Electric Cooperative employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Butler County Rural 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 12/2021, Butler County Rural Electric Cooperative generated $31.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $30.6m during the year ending 12/2021. While expenses have increased by 2.7% 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
PROVIDING ELECTRICAL SERVICE TO THE MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTE ELECTRICITY TO APPROXIMATELY 5000 MEMBERS IN NORTHEAST IOWA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Codner CEO | Officer | 40 | $171,366 |
Sandra Miller Hr/office Manager | 40 | $107,888 | |
Lori Beach Financial Accountant | 40 | $102,626 | |
Jane Bradley Recording Secretary | Officer | 40 | $81,664 |
Duane Rieckenberg President | OfficerTrustee | 4.26 | $9,825 |
Share Brandt Assistant Secretary-Treasu | OfficerTrustee | 3.38 | $8,420 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Highline Construction Construction | 12/30/16 | $363,307 |
Tjader-highstrom Services Llc Construction | 12/30/16 | $236,997 |
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 | $29,519,979 |
| Investment income | $135,259 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $64,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$44,943 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,307,954 |
| 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 | $1,692,154 |
| Compensation of current officers, directors, key employees. | $481,537 |
| 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 | $1,038,243 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,833,156 |
| Insurance | $0 |
| All other expenses | $1,065,321 |
| Total functional expenses | $30,604,627 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,964,999 |
| Savings and temporary cash investments | $11,656,308 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,888,446 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,089,933 |
| Prepaid expenses and deferred charges | $401,133 |
| Net Land, buildings, and equipment | $38,186,818 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$15,295 |
| Investments—program-related | $19,763,096 |
| Intangible assets | $0 |
| Other assets | $1,200,000 |
| Total assets | $77,135,438 |
| Accounts payable and accrued expenses | $2,701,317 |
| Grants payable | $0 |
| Deferred revenue | $1,324,873 |
| 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 | $40,496,384 |
| Unsecured mortgages and notes payable | $5,000 |
| Other liabilities | $807,291 |
| Total liabilities | $45,334,865 |
| 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 | $31,800,573 |
| Total liabilities and net assets/fund balances | $77,135,438 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Wright-Hennepin Cooperative Electric Association Rockford, MN | $233,547,306 | $112,957,716 |
Northwest Iowa Power Cooperative Le Mars, IA | $209,144,882 | $97,805,529 |
Minnesota Valley Electric Cooperative Jordan, MN | $225,562,606 | $97,633,848 |
Sioux Valley-Southwestern Electric Cooperative Inc Colman, SD | $299,619,509 | $95,033,427 |
Lake Country Power Cohasset, MN | $343,138,601 | $92,478,659 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
Southeastern Illinois Electric Carrier Mills, IL | $211,832,578 | $85,978,289 |
Corn Belt Electric Cooperative Inc Bloomington, IL | $225,280,163 | $84,317,914 |
Crow Wing Cooperative Power & Light Company Brainerd, MN | $238,884,299 | $79,431,443 |
Mienergy Cooperative Rushford, MN | $203,461,309 | $76,660,548 |
Adams-Columbia Electric Co-Op Friendship, WI | $247,246,792 | $77,428,375 |