Citizens Electric Corporation
- Assets
- $190.2m
- Revenue
- $155.5m
- Investments
- $0.0
- Employees
- 88
- Location
- Perryville, MO
- Founding
- 03/1953
- Data as of
- 12/2022
- EIN
- 43-0634203
Organization Overview
Citizens Electric Corporation is located in Perryville, MO. The organization was established in 1953. 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, Citizens Electric Corporation employed 88 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Citizens Electric Corporation 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, Citizens Electric Corporation generated $155.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $152.9m during the year ending 12/2022. While expenses have increased by 3.4% 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
SALE OF ELECTRIC ENERGY TO THE COOPERATIVE'S MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE TO AN AVERAGE OF 27,922 MEMBERS WITH GROSS CONSUMPTION OF 1.687 BILLION KWH'S.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Van R Robinson CEO | Officer | 45 | $411,110 |
Jason D Cates Manager Of Engineering & Operations | 50 | $155,862 | |
Curt Iffert VP Of Operations | 45 | $130,456 | |
Joan M Huck Manager Of Finance | Officer | 42 | $127,789 |
Steve Hlavek Engineering Supervisor | 45 | $119,798 | |
Steven Rohan Lineman Tech | 45 | $118,651 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Le Myers Company Line Construction | 12/30/22 | $274,048 |
Asplundh Brush Control Line Clearing | 12/30/22 | $789,733 |
Townsend Tree Service Line Clearing | 12/30/22 | $865,315 |
Power Line Consultants Llc Construction | 12/30/22 | $1,360,003 |
Electric Power Systems Testing | 12/30/22 | $351,987 |
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 | $152,970,252 |
| Investment income | $1,528,741 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $128,173 |
| 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 | $155,506,076 |
| 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. | $1,303,210 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,225,555 |
| Pension plan accruals and contributions | $1,475,859 |
| Other employee benefits | $1,327,866 |
| Payroll taxes | $547,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $159,636 |
| Fees for services: Accounting | $16,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,264 |
| Advertising and promotion | $35,236 |
| Office expenses | $437,059 |
| Information technology | $723,794 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $62,962 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,811,880 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,485,963 |
| Insurance | $546,802 |
| All other expenses | $0 |
| Total functional expenses | $152,945,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,324,295 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,635,222 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,608,048 |
| Prepaid expenses and deferred charges | $460,511 |
| Net Land, buildings, and equipment | $123,070,616 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $31,856,991 |
| Intangible assets | $0 |
| Other assets | $282,751 |
| Total assets | $190,238,434 |
| Accounts payable and accrued expenses | $13,336,490 |
| 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 | $52,730,224 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,681,361 |
| Total liabilities | $72,748,075 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $83,785 |
| Paid-in or capital surplus, or land, building, or equipment fund | $15,059 |
| Retained earnings, endowment, accumulated income, or other funds | $117,391,515 |
| Total liabilities and net assets/fund balances | $190,238,434 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Cumberland Electric Membership Corp Clarksville, TN | $559,882,187 | $327,722,843 |
Volunteer Energy Cooperative Decatur, TN | $369,462,846 | $270,037,507 |
Midwest Energy Inc Hays, KS | $627,319,066 | $242,109,196 |
Carroll Electric Cooperative Corporation Berryville, AR | $756,571,061 | $239,227,342 |
Nebraska Electric Generation And Transmission Cooperative Inc Columbus, NE | $24,698,351 | $237,875,387 |
First Electric Cooperative Corporation Jacksonville, AR | $572,577,962 | $234,356,715 |
Central Electric Power Cooperative Jefferson City, MO | $478,589,080 | $224,762,707 |
Duck River Electric Membership Corporation Shelbyville, TN | $294,861,810 | $219,371,768 |
Mississippi County Electric Cooperative Inc Blytheville, AR | $148,581,171 | $213,607,546 |