Mckenzie Electric Cooperative Inc is located in Watford City, ND. The organization was established in 1961. 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 12/2018, Mckenzie Electric Cooperative Inc employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mckenzie 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 12/2019, Mckenzie Electric Cooperative Inc generated $335.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $335.9m during the year ending 12/2019. While expenses have increased by 13.9% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE TAX-EXEMPT PURPOSE OF THE ORGANIZATION IS TO DELIVER ELECTRICITY TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COOPERATIVE DELIVERS ELECTRIC ENERGY TO MEMBERS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John Skurupey CEO | Officer | 44 | $259,738 |
Gary Highley COO | 41.4 | $166,157 | |
Steven Lautenschlager Contractor Management | 42.8 | $130,696 | |
Jamie Cross Business Manager | Officer | 45.9 | $128,394 |
Karl Aaker Manager Of Engineering Ser | 42.87 | $127,077 | |
James Hansen Operations Manager | 47.26 | $119,983 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Highmark Erectors Inc Line Construction | 12/30/18 | $4,252,365 |
Badlands Electric Inc Line Construction | 12/30/18 | $4,277,488 |
4t Construction Inc Line Construction | 12/30/18 | $3,501,781 |
Bt Mills Line Construction | 12/30/18 | $3,478,549 |
Mountain Plains Llc Staking Services | 12/30/18 | $2,752,778 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Investment income | $1,677,862 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $2,256 |
Net Gain/Loss on Asset Sales | -$14,511 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $335,917,669 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $30,993,025 |
Compensation of current officers, directors, key employees. | $580,447 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,716,613 |
Pension plan accruals and contributions | $992,376 |
Other employee benefits | $0 |
Payroll taxes | $380,898 |
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 | $1,700,718 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $10,749,407 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $335,917,669 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $36,043,148 |
Savings and temporary cash investments | $74,054,908 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $49,641,406 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $10,033 |
Inventories for sale or use | $4,528,100 |
Prepaid expenses and deferred charges | $52,922 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $96,228,609 |
Intangible assets | $0 |
Other assets | $9,585 |
Total assets | $393,514,370 |
Accounts payable and accrued expenses | $37,098,766 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $193,583,455 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $39,670,359 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $42,399,050 |
Total liabilities | $119,168,175 |
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 |
Total liabilities and net assets/fund balances | $274,346,195 |
Organization Name | Assets | Revenue |
---|---|---|
Upper Missouri G & T Electric Cooperative Inc Sidney, MT | $334,768,198 | $637,652,492 |
Minnkota Power Cooperative Inc Grand Forks, ND | $1,124,833,308 | $402,196,354 |
Mckenzie Electric Cooperative Inc Watford City, ND | $393,514,370 | $335,917,669 |
Mountrail-Williams Electric Cooperative Inc Williston, ND | $717,404,799 | $318,238,351 |
East River Electric Power Cooperative Inc Madison, SD | $592,324,233 | $293,586,852 |
Dakota Electric Association Farmington, MN | $344,083,597 | $207,935,201 |
Central Power Electric Coop Inc Minot, ND | $390,213,092 | $178,336,721 |
Cass County Electric Cooperative Inc Fargo, ND | $289,161,420 | $140,494,536 |
Flathead Electric Cooperative Inc Kalispell, MT | $283,675,251 | $122,789,085 |
Wright-Hennepin Cooperative Electric Association Rockford, MN | $204,039,453 | $109,420,242 |
Nodak Electric Cooperative Inc Grand Forks, ND | $144,864,960 | $104,223,078 |
Lake Country Power Grand Rapids, MN | $327,288,686 | $92,858,618 |
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