Howard Electric Cooperative
- Assets
- $26.6m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 16
- Location
- Fayette, MO
- Founding
- 06/1939
- Data as of
- 12/2020
- EIN
- 43-0330970
Organization Overview
Howard Electric Cooperative is located in Fayette, MO. 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 12/2020, Howard Electric Cooperative employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Howard 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 12/2020, Howard Electric Cooperative generated $7.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $7.7m during the year ending 12/2020. While expenses have increased by 3.2% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE PROUD TO PROVIDE SAFE, RELIABLE, AFFORDABLE AND CLEAN ELECTRIC POWER TO OUR MEMBER-OWNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO THE MEMBERS OF THE COOPERATIVE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Fowler General Manager | Officer | 50 | $231,513 |
Chad Westhues Construction Foreman | 46 | $104,265 | |
Amber Overfelt Assistant Manager | Officer | 45 | $93,574 |
Bill Westfall Director | Trustee | 3 | $5,000 |
George Frink Director | Trustee | 5 | $4,200 |
Dale Kirby President | OfficerTrustee | 5 | $4,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Burbridge Tree Service Row Clearing | 12/30/20 | $394,675 |
Kiowa Line Builders Line Construction | 12/30/20 | $413,320 |
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 | $7,764,547 |
| Investment income | $109,970 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,850,430 |
| 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 | $266,347 |
| Compensation of current officers, directors, key employees. | $438,873 |
| 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 | $435,319 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,037,758 |
| Insurance | $0 |
| All other expenses | $675,458 |
| Total functional expenses | $7,674,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,724 |
| Savings and temporary cash investments | $1,528,063 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $602,273 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $564,037 |
| Prepaid expenses and deferred charges | $379,525 |
| Net Land, buildings, and equipment | $19,683,681 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,654,389 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $26,616,692 |
| Accounts payable and accrued expenses | $549,295 |
| Grants payable | $0 |
| Deferred revenue | $805,000 |
| 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 | $13,007,940 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $300,093 |
| Total liabilities | $14,662,328 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $68,875 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $11,885,489 |
| Total liabilities and net assets/fund balances | $26,616,692 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Missouri Rural Electric Cooperative Palmyra, MO | $37,368,089 | $19,573,881 |
Sedgwick County Electric Cooperative Association Inc Cheney, KS | $36,473,709 | $18,891,382 |
Monroe County Electric Coop Inc Waterloo, IL | $48,641,421 | $17,977,778 |
Gascosage Electric Cooperative Dixon, MO | $57,774,455 | $19,748,899 |
North Central Missouri Electric Cooperative Inc Milan, MO | $39,341,969 | $18,294,115 |
Rathbun Regional Water Association Inc Centerville, IA | $143,535,509 | $19,524,917 |
City Corporation Russellville, AR | $192,508,552 | $18,660,828 |
Clinton County Electric Cooperative Inc Breese, IL | $36,047,909 | $16,814,895 |
T I P Rural Electric Cooperative Brooklyn, IA | $57,344,467 | $17,059,790 |
Nishnabotna Valley Rural Electric Cooperative Harlan, IA | $46,708,124 | $17,798,413 |
Lewis County Rural Electric Cooperative Association Lewistown, MO | $54,864,852 | $16,122,435 |
Lyon-Coffey Electric Cooperative Inc Burlington, KS | $47,592,400 | $15,534,958 |