Mor-Gran-Sou Electric Cooperative Inc
- Assets
- $92.7m
- Revenue
- $23.1m
- Investments
- $10.8m
- Employees
- 23
- Location
- Flasher, ND
- Founding
- 07/1950
- Data as of
- 12/2021
- EIN
- 45-0217935
Organization Overview
Mor-Gran-Sou Electric Cooperative Inc is located in Flasher, ND. The organization was established in 1950. 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, Mor-Gran-Sou Electric Cooperative Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mor-Gran-Sou 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, Mor-Gran-Sou Electric Cooperative Inc generated $23.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $23.1m during the year ending 12/2021. While expenses have increased by 2.5% 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
PROVIDE ELECTRIC UTILITY SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
MOR-GRAN-SOU PROVIDES RELIABLE, AFFORDABLE ENERGY TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacqeline L Miller Chief Of Staff | 40 | $150,873 | |
Cynthia Ternes Manager Of Administrative | 40 | $131,933 | |
Jason Helgeson Senior Engineering Technic | 40 | $120,288 | |
Jason Jahner Leadman | 40 | $114,785 | |
Jesse Kuhn Engineering Technician | 40 | $111,668 | |
Vern Frederick Director | Trustee | 6.48 | $8,375 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jacobsen Tree Experts Inc Tree Removal | 12/30/21 | $137,610 |
3c Construction Line Construction | 12/30/21 | $843,497 |
Boldt Power Inc Line Construction | 12/30/21 | $174,680 |
Innovative Energy Alliance Cooperative Professional Services | 12/30/21 | $1,750,826 |
Fischer Contracting Heavy/highway Civil Contractor | 12/30/21 | $765,961 |
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 | $21,842,819 |
| Investment income | $94,883 |
| 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 | $23,052,537 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,472 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,994,764 |
| Compensation of current officers, directors, key employees. | $685,022 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $549,254 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $252,287 |
| 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 | $1,900,815 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,870,326 |
| Insurance | $0 |
| All other expenses | $1,398,545 |
| Total functional expenses | $23,052,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $482,339 |
| Savings and temporary cash investments | $2,000,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,803,512 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,668,249 |
| Prepaid expenses and deferred charges | $149,528 |
| Net Land, buildings, and equipment | $75,761,087 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,825,245 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $92,689,960 |
| Accounts payable and accrued expenses | $2,025,037 |
| 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 | $46,729,609 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,246,011 |
| Total liabilities | $51,000,657 |
| 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 | $41,689,303 |
| Total liabilities and net assets/fund balances | $92,689,960 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blue Earth Nicollet Faribault Cooperative Electric Association Mankato, MN | $118,260,844 | $45,959,324 |
Capital Electric Cooperative Inc Bismarck, ND | $133,692,620 | $42,124,624 |
Northern Plains Electric Cooperative Carrington, ND | $137,367,234 | $41,884,973 |
Garden Valley Telephone Company Erskine, MN | $115,867,634 | $40,536,799 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
District Energy St Paul Inc St Paul, MN | $133,953,246 | $38,563,375 |
Steele Waseca Cooperative Electric Owatonna, MN | $93,180,056 | $37,750,212 |
Yellowstone Valley Electric Cooperative Inc Huntley, MT | $80,881,351 | $39,379,515 |
Consolidated Telephone Company Brainerd, MN | $86,072,377 | $35,653,081 |
Federated Rural Electric Association Jackson, MN | $74,873,988 | $36,024,282 |
Wild Rice Electric Cooperative Inc Mahnomen, MN | $71,183,231 | $34,569,574 |
Runestone Electric Association Alexandria, MN | $99,235,935 | $31,252,692 |