Central Power Electric Coop Inc
- Assets
- $390.2m
- Revenue
- $178.3m
- Investments
- $0.0
- Employees
- 63
- Location
- Minot, ND
- Founding
- 05/1957
- Data as of
- 12/2019
- EIN
- 45-0226179
Central Power Electric Coop Inc Overview
Central Power Electric Coop Inc is located in Minot, ND. The organization was established in 1957. 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 12/2019, Central Power Electric Coop Inc employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Power Electric Coop 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, Central Power Electric Coop Inc generated $178.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $170.1m during the year ending 12/2019. While expenses have increased by 3.6% 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
TO ASSIST OUR MEMBER SYSTEMS TO BECOME ELECTRIC SUPPLIERS OF CHOICE BY SERVING AS A LEADING & UNIFYING FORCE AMONG OUR MEMBERSHIP, PROVIDING RELIABLE, ECONOMICAL AND EFFICIENT ELECTRIC SUPPLY, AND PERFORMING THOSE FUNCTIONS THAT CAN MOST EFFICIENTLY BE PROVIDED AS A UNITED EFFORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRICITY TO SIX RURAL ELECTRIC DISTRIBUTION COOPERATIVES IN NORTH DAKOTA.
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Central Power Electric Coop Inc Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas L Meland General Manager | Officer | 40 | $384,433 |
Mark A Sherman Manager Of Operations & Engineering | Officer | 40 | $256,860 |
Michael J Kossan Manager Of Accounting & Finance | Officer | 40 | $223,567 |
Ryan P Callahan Chief Transmission Engineer | 40 | $165,974 | |
Dennis M Olson Chief Substation Engineer | 40 | $161,125 | |
Todd T Ahmann Network Administrator | 40 | $157,991 |
Central Power Electric Coop Inc Vendors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Primoris T&d Services Llc Line Contractor | 12/30/19 | $2,313,465 |
Embloms Midwest Powerline Construction Inc Line Contractor | 12/30/19 | $2,221,917 |
Veit & Company Inc Foundation Contractor | 12/30/19 | $902,500 |
Widseth Smith Nolting & Associates Inc Line Design Consultant | 12/30/19 | $766,869 |
Northstar Steel Inc Steel Building Contractor | 12/30/19 | $403,524 |
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 | $173,153,694 |
| Investment income | $21,655 |
| 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 | $178,336,721 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| 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 | $6,221,791 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,755,222 |
| Insurance | $0 |
| All other expenses | $309,060 |
| Total functional expenses | $170,053,338 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $324,949 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,925,714 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $237,000 |
| Inventories for sale or use | $17,986,395 |
| Prepaid expenses and deferred charges | $2,196,428 |
| Net Land, buildings, and equipment | $255,727,544 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $94,815,062 |
| Total assets | $390,213,092 |
| Accounts payable and accrued expenses | $15,497,730 |
| 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 | $218,241,274 |
| Unsecured mortgages and notes payable | $30,537,000 |
| Other liabilities | $2,044,328 |
| Total liabilities | $266,320,332 |
| Net assets without donor restrictions | $123,892,760 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $390,213,092 |
Central Power Electric Coop 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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