Panhandle Rural Electric Membership Association
- Assets
- $41.2m
- Revenue
- $16.4m
- Investments
- $0.0
- Employees
- 29
- Location
- Alliance, NE
- Founding
- 03/1957
- Data as of
- 12/2021
- EIN
- 47-0348046
Organization Overview
Panhandle Rural Electric Membership Association is located in Alliance, NE. 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 12/2021, Panhandle Rural Electric Membership Association employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Panhandle Rural Electric Membership Association 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, Panhandle Rural Electric Membership Association generated $16.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $15.1m during the year ending 12/2021. While expenses have increased by 3.7% 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
PREMA BELIEVES THAT ITS MEMBERS ARE ENTITLED TO SAFE, RELIABLE, EFFICIENT AND REASONABLY PRICED ELECTRICITY AND SERVICES THAT WILL IMPROVE THEIR QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRICITY TO RURAL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Reiber General Manager | Officer | 40 | $167,316 |
Paul Grosz Ops Manager | 40 | $121,642 | |
Dale Knapp Staking Engineer | 40 | $105,807 | |
Doug Hickcox Lineman | 40 | $104,928 | |
Burton Anthony Lineman | 40 | $102,595 | |
Rd Sutphen President | OfficerTrustee | 1 | $3,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $540,497 |
| 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 | $540,497 |
| Total Program Service Revenue | $15,568,140 |
| Investment income | $266,719 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,403 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,400,067 |
| 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 | $342,778 |
| Compensation of current officers, directors, key employees. | $264,639 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,495,666 |
| Pension plan accruals and contributions | $341,160 |
| Other employee benefits | $482,484 |
| Payroll taxes | $172,357 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,707 |
| Fees for services: Accounting | $11,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $41,772 |
| Office expenses | $35,511 |
| Information technology | $176,620 |
| Royalties | $0 |
| Occupancy | $164,050 |
| Travel | $194,520 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $683,137 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,128,299 |
| Insurance | $157,686 |
| All other expenses | $0 |
| Total functional expenses | $15,111,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $344,825 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $829,444 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,092,133 |
| Prepaid expenses and deferred charges | $369,519 |
| Net Land, buildings, and equipment | $29,144,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $9,443,918 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,224,706 |
| Accounts payable and accrued expenses | $1,209,735 |
| Grants payable | $0 |
| Deferred revenue | $14,102 |
| 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 | $17,730,090 |
| Unsecured mortgages and notes payable | $3,000,000 |
| Other liabilities | $488,243 |
| Total liabilities | $22,442,170 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,515,458 |
| Paid-in or capital surplus, or land, building, or equipment fund | $17,267,078 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $41,224,706 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Black River Electric Cooperative Fredericktown, MO | $138,131,330 | $49,558,459 |
Y W Electric Association Inc Colorado Rea 38 Akron, CO | $130,403,627 | $47,254,335 |
New Mac Electric Cooperative Inc Neosho, MO | $135,294,797 | $45,962,047 |
Morgan County Rural Electric Association Fort Morgan, CO | $104,279,755 | $45,102,816 |
Three Rivers Electric Cooperative Linn, MO | $111,680,117 | $44,711,641 |
Western Cooperative Electric Association Inc Wakeeney, KS | $116,000,475 | $44,441,643 |
Semo Electric Cooperative Sikeston, MO | $155,297,219 | $43,598,236 |
Freestate Electric Cooperative Inc Topeka, KS | $115,006,207 | $43,505,372 |
San Luis Valley Rural Electric Cooperative Inc Monte Vista, CO | $146,227,571 | $40,584,660 |
Mountain Parks Electric Inc Granby, CO | $112,547,054 | $41,154,955 |
West River Electric Association Inc Wall, SD | $136,764,788 | $38,874,089 |
Osage Valley Electric Cooperative Association Butler, MO | $105,740,013 | $38,029,728 |