Capital Electric Cooperative Inc
- Assets
- $150.2m
- Revenue
- $46.3m
- Investments
- $0.0
- Employees
- 44
- Location
- Bismarck, ND
- Founding
- 12/1949
- Data as of
- 12/2023
- EIN
- 45-0217628
Organization Overview
Capital Electric Cooperative Inc is located in Bismarck, ND. The organization was established in 1949. 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 12/2023, Capital Electric Cooperative Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Capital 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 12/2023, Capital Electric Cooperative Inc generated $46.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $46.3m during the year ending 12/2023. While expenses have increased by 4.2% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CAPITAL ELECTRIC COOPERATIVE SERVES OUR COMMUNITY AND MEMBER-OWNERS AS THEIR TRUSTED ENERGY PROVIDER AND PARTNER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ARE AN ELECTRICAL DISTRIBUTION COOPERATIVE SUPPLYING ELECTRIC POWER TO OUR MEMBER CONSUMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deon Vilhauer President | OfficerTrustee | 6 | $22,675 |
Kyle Tschosik Assistant Secretary-Treasu | OfficerTrustee | 5 | $15,075 |
David Charles Vice President | OfficerTrustee | 6 | $10,225 |
Kayla Pulvermacher Director | Trustee | 5 | $8,675 |
Dwight Wrangham Director | Trustee | 6 | $9,625 |
Rex Hollenbeck Director | Trustee | 5 | $6,675 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gieser Utility Contracting Inc Line Construction | 12/30/23 | $1,238,371 |
Fischer Contracting Line Construction | 12/30/23 | $504,814 |
Verizon Metering | 12/30/23 | $320,025 |
Vetsch Independent Power Inc Line Construction | 12/30/23 | $639,716 |
Summit Utility Locating Line Location Services | 12/30/23 | $206,611 |
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 | $43,244,534 |
| Investment income | $261,697 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$250,878 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,315,028 |
| 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 | $3,096,235 |
| Compensation of current officers, directors, key employees. | $486,604 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $957,673 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $2,275,270 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,097,529 |
| Insurance | $0 |
| All other expenses | -$1,444,277 |
| Total functional expenses | $46,315,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,881,782 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,125,986 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,178,622 |
| Prepaid expenses and deferred charges | $315,666 |
| Net Land, buildings, and equipment | $110,323,732 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,324,267 |
| Total assets | $150,150,055 |
| Accounts payable and accrued expenses | $2,812,175 |
| 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 | $80,545,166 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,440,859 |
| Total liabilities | $91,798,200 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $44,105,228 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $14,246,627 |
| Total liabilities and net assets/fund balances | $150,150,055 |