Verendrye Electric Cooperative Inc

Organization Overview

Verendrye Electric Cooperative Inc is located in Velva, ND. The organization was established in 1952. 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, Verendrye Electric Cooperative Inc employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Verendrye Electric Cooperative Inc 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, Verendrye Electric Cooperative Inc generated $54.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $52.0m during the year ending 12/2021. While expenses have increased by 0.8% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE QUALITY ELECTRIC SERVICE AT A COMPETITIVE COST STRENGTHEN THE AREA ECONOMY & LEAD IN IMPROVING THE REGION'S QUALITY OF LIFE THROUGH INNOVATION WHILE OPERATING WITHIN THE COOPERATIVE PRINCIPLES

Describe the Organization's Program Activity:

Part 3 - Line 4a

VERENDRYE ELECTRIC COOPERATIVE DISTRIBUTED ELECTRICITY TO 12,751 MEMBERS AT 16,573 METERING POINTS. VERENDRYE HAD 2,415 MILES OF OVERHEAD DISTRIBUTION LINE AND 2,202 MILES OF UNDERGROUND DISTRIBUTION LINE FOR A TOTAL OF 4,617 MILES OF ENERGIZED LINE.


VERENDRYE ELECTRIC COOPERATIVE PROVIDES TO ITS MEMBERS PROGRAMS THAT PROMOTE ENERGY CONSERVATION AND EFFICIENCY SUCH AS WEATHERIZATION LOANS ENERGY AUDITS HIGH EFFICIENCY WATER HEATERS AND HEAT PUMPS. VERENDRYE ALSO HAS RENEWABLE ENERGY PROGRAMS SUCH AS SOLAR WATER PUMPING AND WIND ENERGY.


VERENDRYE ELECTRIC COOPERATIVE PROVIDES ELECTRICAL SAFETY PROGRAMS TO AREA SCHOOLS AND ORGANIZATIONS AND SPONSORS YOUTH PROGRAMS SUCH AS SCHOLARSHIPS AND A YOUTH TOUR TO THE NATION'S CAPITAL.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Dakota Tree Service Inc
Tree Trimming
$193,049
Summit Utility Services Llc
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$285,969
4t Construction
Pole Changes
$147,470
Central Trenching Inc
Digging & Trenching
$1,556,391
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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,267,419
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$1,267,419
Total Program Service Revenue$52,565,173
Investment income $121,614
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $6,096
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $38,093
Miscellaneous Revenue$0
Total Revenue $53,998,395

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