Mor-Gran-Sou Electric Cooperative Inc
- Assets
- $111.8m
- Revenue
- $24.3m
- Investments
- $11.8m
- Employees
- 25
- Location
- Flasher, ND
- Founding
- 07/1950
- Data as of
- 12/2023
- 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 12/2023, Mor-Gran-Sou Electric Cooperative Inc employed 25 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 12/2023, Mor-Gran-Sou Electric Cooperative Inc generated $24.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $24.3m during the year ending 12/2023. While expenses have increased by 2.5% 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
PROVIDE ELECTRIC UTILITY SERVICE
Describe the Organization's Program Activity:
Part 3 - Line 4a
MOR-GRAN-SOU PROVIDES RELIABLE, AFFORDABLE ENERGY TO ITS MEMBERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Tomac Chairman | Trustee | 7.44 | $11,900 |
Chad Harrison Vice Chair | OfficerTrustee | 4.56 | $12,425 |
Pam Geiger Secretary-Treasurer | Trustee | 5.85 | $9,363 |
Mark Doll Director | Trustee | 2.04 | $5,950 |
Rodney Froelich Director | Trustee | 1.46 | $7,000 |
Robert Leingang Director | Trustee | 5.96 | $9,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Innovative Energy Alliance Cooperative Professional Services | 12/30/23 | $1,648,985 |
3c Construction Line Construction | 12/30/23 | $741,645 |
Fischer Contracting Heavy/highway Civil Contractor | 12/30/23 | $669,988 |
Maintenance Solutions Cooperation Line Construction | 12/30/23 | $270,759 |
Northwest Contracting Inc General Construction | 12/30/23 | $706,106 |
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 | $22,615,905 |
| Investment income | $210,879 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,260,085 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,266 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,155,997 |
| Compensation of current officers, directors, key employees. | $83,563 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $432,191 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $298,520 |
| 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 | $2,447,617 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,885,947 |
| Insurance | $0 |
| All other expenses | $1,491,024 |
| Total functional expenses | $24,260,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,000,299 |
| Savings and temporary cash investments | $6,750,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,981,968 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,820,349 |
| Prepaid expenses and deferred charges | $27,281 |
| Net Land, buildings, and equipment | $84,396,411 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,783,723 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $111,760,031 |
| Accounts payable and accrued expenses | $1,929,643 |
| 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 | $62,562,190 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,784,127 |
| Total liabilities | $66,275,960 |
| 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 | $45,484,071 |
| Total liabilities and net assets/fund balances | $111,760,031 |