Mckenzie Electric Cooperative Inc
- Assets
- $393.5m
- Revenue
- $335.9m
- Investments
- $0.0
- Employees
- 64
- Location
- Watford City, ND
- Founding
- 09/1961
- Data as of
- 12/2019
- EIN
- 45-0217439
Mckenzie Electric Cooperative Inc Overview
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.
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Mckenzie Electric Cooperative Inc Board, Officers & Key Employees
| 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 |
Mckenzie Electric Cooperative Inc Vendors
| 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 |
Financial Statements
| 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 |
Mckenzie Electric Cooperative Inc Peer Organizations
| 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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