Midcontinent Independent System Operator Inc
- Assets
- $2.4b
- Revenue
- $407.5m
- Investments
- $0.0
- Employees
- 1,131
- Location
- Carmel, IN
- Founding
- 01/2001
- Data as of
- 12/2021
- EIN
- 43-1827033
Organization Overview
Midcontinent Independent System Operator Inc is located in Carmel, IN. The organization was established in 2001. 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, Midcontinent Independent System Operator Inc employed 1,131 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midcontinent Independent System Operator Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Midcontinent Independent System Operator Inc generated $407.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $407.5m during the year ending 12/2021. While expenses have increased by 2.8% 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
MONITOR AND CONTROL ELECTRIC TRANSMISSION SYSTEM TO PROVIDE NON-DISCRIMINATORY OPEN-ACCESS TO ALL COSTUMERS AND ENSURE SAFE, RELIABLE, AND EFFICIENT OPERATION FOR THE BENEFIT OF ALL CUSTOMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ON DECEMBER 19, 2001, MIDCONTINENT INDEPENDENT SYSTEM OPERATOR, INC. (MISO OR THE COMPANY) BECAME THE NATION'S FIRST REGIONAL TRANSMISSION ORGANIZATION (RTO) APPROVED BY THE FEDERAL ENERGY REGULATORY COMMISSION (THE FERC). AS AN RTO, MISO PROVIDES TRANSMISSION SERVICE ON BEHALF OF ITS MEMBERS WHO OWN TRANSMISSION ASSETS. IN ADDITION, MISO IS A NORTH AMERICAN ELECTRIC RELIABILITY CORPORATION (NERC) CERTIFIED RELIABILITY COORDINATOR. IN THAT CAPACITY, MISO MONITORS THE FLOW OF ELECTRICITY OVER THE TRANSMISSION SYSTEMS OF ITS MEMBERS WHO OWN TRANSMISSION ASSETS. MISO WAS INCORPORATED AS A DELAWARE NON-STOCK, NONPROFIT CORPORATION IN MARCH 1998. THE COMPANY IS GOVERNED BY AN INDEPENDENT BOARD OF DIRECTORS. MEMBERSHIP IN MISO IS OPEN TO OWNERS OF ELECTRIC TRANSMISSION FACILITIES AS WELL AS OTHER PARTICIPANTS IN THE ELECTRIC ENERGY MARKET. FIFTY TRANSMISSION OWNERS WITH MORE THAN 71,800 MILES OF TRANSMISSION LINES, 191,000 MEGAWATTS OF ELECTRIC GENERATION, AND APPROXIMATELY $37.9 BILLION IN INSTALLED GROSS TRANSMISSION ASSETS ARE CURRENTLY PARTICIPATING IN MISO. ON DECEMBER 15, 2001, THE COMPANY BEGAN PROVIDING RELIABILITY COORDINATION SERVICES TO THE TRANSMISSION-OWNING MEMBERS OF MISO AND THEIR CUSTOMERS. ON THE SAME DATE, MISO ALSO BEGAN PROVIDING OPERATIONS PLANNING, GENERATION INTERCONNECTION, MAINTENANCE COORDINATION, LONG-TERM REGIONAL PLANNING, MARKET MONITORING, AND DISPUTE RESOLUTION SERVICES. THE COMPANY COMMENCED SUBSTANTIALLY ALL OPERATIONS ON FEBRUARY 1, 2002, THE DATE MISO BEGAN PROVIDING REGIONAL TRANSMISSION SERVICE UNDER ITS FERC-ACCEPTED OPEN ACCESS TRANSMISSION AND ENERGY MARKETS TARIFF (THE TARIFF). ON APRIL 1, 2005, MISO FORMALLY BEGAN OPERATING ITS MARKET-BASED CONGESTION MANAGEMENT SYSTEM WHICH FEATURES THE FOLLOWING:- DAY-AHEAD ENERGY MARKET- REAL-TIME ENERGY MARKET- FINANCIAL TRANSMISSION RIGHTS (FTR) MARKETTHE DAY-AHEAD AND REAL-TIME ENERGY MARKETS ARE DESIGNED TO RELIABLY MAKE THE MOST EFFICIENT USE OF ALL GENERATION AND TRANSMISSION RESOURCES WITHIN THE REGION BASED ON BIDS AND OFFERS SUBMITTED BY MARKET PARTICIPANTS. THE DAY-AHEAD AND REAL-TIME ENERGY MARKETS PRICE TRANSMISSION SYSTEM CONGESTION THROUGH THE USE OF LOCATIONAL MARGINAL PRICING (LMP) ALGORITHMS. THE FINANCIAL TRANSMISSION RIGHTS MARKET PROVIDES A MEANS OF HEDGING LMP-BASED CONGESTION COSTS. ON JANUARY 6, 2009, MISO BEGAN OPERATING A MARKET FOR ANCILLARY SERVICES. THE ANCILLARY SERVICES MARKET INTEGRATES THE PROCUREMENT AND USE OF REGULATION AND CONTINGENCY RESERVES WITH THE EXISTING REAL-TIME ENERGY MARKET. MISO ALSO BECAME AN NERC-CERTIFIED BALANCING AUTHORITY ON JANUARY 6, 2009.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Bear CEO | OfficerTrustee | 40 | $3,240,634 |
Richard Doying Exec VP Markt Dvlpmnt Strategy | Officer | 40 | $1,458,798 |
Clair Moeller President | Officer | 40 | $1,434,161 |
Melissa Brown Senior VP & CFO | Officer | 40 | $996,445 |
Andre Porter VP & General Counsel | Officer | 40 | $944,186 |
Jennifer Curran VP - Plan & Chief Compliance Officer | Officer | 40 | $884,177 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Monument Consulting Professional Services | 12/30/21 | $10,273,427 |
Ge Energy Management Services Llc Software Services | 12/30/21 | $16,253,823 |
Utilicast Professional Services | 12/30/21 | $2,950,237 |
Potomac Economics Independent Market Monitor | 12/30/21 | $7,927,538 |
Technology Site Planners Inc Property Management | 12/30/21 | $5,287,439 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $393,794 |
| 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 | $393,794 |
| Total Program Service Revenue | $406,761,519 |
| Investment income | $334,675 |
| 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 | $407,489,988 |
| 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. | $16,587,900 |
| Compensation of current officers, directors, key employees. | $11,519,521 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $128,213,658 |
| Pension plan accruals and contributions | $11,593,731 |
| Other employee benefits | $19,077,458 |
| Payroll taxes | $10,271,560 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,767,198 |
| Fees for services: Accounting | $177,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,248,699 |
| Advertising and promotion | $0 |
| Office expenses | $8,845,170 |
| Information technology | $25,299,455 |
| Royalties | $0 |
| Occupancy | $14,170,935 |
| Travel | $1,379,366 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $798,563 |
| Interest | $10,866,472 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,450,594 |
| Insurance | $2,565,784 |
| All other expenses | $634,180 |
| Total functional expenses | $407,489,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,453,751 |
| Savings and temporary cash investments | $2,205,515,274 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,951,141 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $19,554,621 |
| Net Land, buildings, and equipment | $86,587,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,944,700 |
| Total assets | $2,446,006,704 |
| Accounts payable and accrued expenses | $90,769,059 |
| Grants payable | $0 |
| Deferred revenue | $15,821,203 |
| 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 | $274,317,852 |
| Other liabilities | $2,065,098,590 |
| Total liabilities | $2,446,006,704 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,446,006,704 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Wabash Valley Power Association Inc Indianapolis, IN | $1,308,025,251 | $757,452,533 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Dairyland Power Cooperative La Crosse, WI | $1,543,973,952 | $466,517,279 |
Midcontinent Independent System Operator Inc Carmel, IN | $2,446,006,704 | $407,489,988 |
Central Electric Power Cooperative Jefferson City, MO | $478,589,080 | $224,762,707 |
Warren Rural Electric Cooperative Corporation Bowling Green, KY | $321,679,939 | $226,511,221 |
Owen Electric Cooperative Inc Owenton, KY | $280,661,277 | $184,758,521 |
National Electrical Contractors Association Inc Kansas City, MO | $2,543,076 | $175,759,939 |
Southern Illinois Power Cooperative Marion, IL | $684,387,502 | $167,555,011 |
Prairie Power Inc Springfield, IL | $704,846,695 | $159,851,306 |
Citizens Electric Corporation Perryville, MO | $190,238,434 | $155,506,076 |