Consumers Energy
- Assets
- $55.0m
- Revenue
- $20.9m
- Investments
- $0.0
- Employees
- 29
- Location
- Marshalltown, IA
- Founding
- 08/1939
- Data as of
- 12/2021
- EIN
- 42-0396598
Organization Overview
Consumers Energy is located in Marshalltown, IA. The organization was established in 1939. 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, Consumers Energy employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Consumers Energy 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, Consumers Energy generated $20.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $20.4m during the year ending 12/2021. While expenses have increased by 5.4% 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
SAFELY PROVIDING MEMBERS WITH RELIABLE ELECTRIC ENERGY SERVICE AT AFFORDABLE AND EQUITABLE RATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE PROVIDED ELECTRIC SERVICE TO A TOTAL OF 6,098 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bridget Itzen Ceo/general Manager | Officer | 55 | $145,804 |
Kevin Peterson Coo/operations Manager | Officer | 55 | $139,280 |
Steve Armstrong Area Supervisor | 40 | $106,601 | |
Elliot Mayland Area Supervisor | 40 | $105,321 | |
Rick Dolash Assistant Area Supervisor | 40 | $103,779 | |
Denny Beckman Vice President | OfficerTrustee | 9 | $7,487 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beckstrom Construction Inc Electrical Contractor | 12/30/21 | $124,400 |
Trenchless Solutions Iowa Boring Contractor | 12/30/21 | $288,775 |
Bolar & Gill Tree Service Tree Contractor | 12/30/21 | $265,165 |
National Information Solutions Cooperati Software Vendor | 12/30/21 | $119,734 |
Legacy Power Line Inc Electrical Contractor | 12/30/21 | $688,423 |
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 | $20,885,849 |
| Investment income | $26,066 |
| 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 | -$17,801 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,894,114 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $608 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,889,746 |
| Compensation of current officers, directors, key employees. | $431,274 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,778,674 |
| Pension plan accruals and contributions | $424,571 |
| Other employee benefits | $0 |
| Payroll taxes | $158,564 |
| 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 | $1,118,345 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,841,095 |
| Insurance | $0 |
| All other expenses | -$1,892,318 |
| Total functional expenses | $20,384,114 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,840,563 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,154,514 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,615,727 |
| Inventories for sale or use | $2,010,706 |
| Prepaid expenses and deferred charges | $212,073 |
| Net Land, buildings, and equipment | $36,281,177 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $8,797,042 |
| Intangible assets | $0 |
| Other assets | $105,313 |
| Total assets | $55,017,115 |
| Accounts payable and accrued expenses | $2,215,516 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,481 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $23,553,053 |
| Unsecured mortgages and notes payable | $500,000 |
| Other liabilities | $1,654,123 |
| Total liabilities | $27,924,173 |
| 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 | $27,092,942 |
| Total liabilities and net assets/fund balances | $55,017,115 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Tri-County Electric Cooperative Mount Vernon, IL | $133,948,921 | $48,522,537 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Semo Electric Cooperative Sikeston, MO | $155,297,219 | $43,598,236 |
Oakdale Electric Cooperative Oakdale, WI | $108,949,694 | $41,848,166 |
Norris Electric Cooperative Newton, IL | $122,679,839 | $43,756,656 |
Barron Electric Cooperative Barron, WI | $83,238,959 | $40,823,389 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
Egyptian Electric Cooperative Association Murphysboro, IL | $103,786,705 | $42,170,209 |
Riverland Energy Cooperative Arcadia, WI | $120,553,523 | $39,958,076 |