Central Rural Electric Cooperative
- Assets
- $303.8m
- Revenue
- $77.6m
- Investments
- $0.0
- Employees
- 105
- Location
- Stillwater, OK
- Founding
- 12/1939
- Data as of
- 12/2023
- EIN
- 73-0177775
Organization Overview
Central Rural Electric Cooperative is located in Stillwater, OK. The organization was established in 1939. 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, Central Rural Electric Cooperative employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Rural Electric Cooperative 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, Central Rural Electric Cooperative generated $77.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $81.6m during the year ending 12/2023. While expenses have increased by 2.3% 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
TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC POWER TO MEMBERS AT COST ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 24,283 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Wells Vice President | OfficerTrustee | 7.9 | $28,500 |
Carol Dvorak President | OfficerTrustee | 8.8 | $24,000 |
Gary Mccune Trustee (jan-Oct) | Trustee | 10.8 | $22,000 |
John Greg Tytenciz Secretary/treasurer | OfficerTrustee | 7.2 | $19,250 |
Sid Sperry Trustee | Trustee | 8.1 | $18,500 |
Bill Davis Trustee (jan-Oct) | Trustee | 4.4 | $9,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ervin Cable Construction Fiber Construction | 12/30/23 | $21,350,531 |
Mdr Construction Electric Construction | 12/30/23 | $8,221,773 |
Davis H Elliot Construction Co Inc Electric Construction | 12/30/23 | $6,643,991 |
Riggs Tree Service Inc Tree Clearing | 12/30/23 | $3,725,439 |
Conexon Llc Fiber Construction, Project Mgt | 12/30/23 | $4,488,843 |
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 | $69,938,099 |
| Investment income | $409,023 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $68,220 |
| 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 | $77,622,846 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,937 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,654,267 |
| Compensation of current officers, directors, key employees. | $906,470 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,909,114 |
| Pension plan accruals and contributions | $1,109,545 |
| Other employee benefits | $1,603,728 |
| Payroll taxes | $477,884 |
| 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 | $6,112,664 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,874,023 |
| Insurance | $0 |
| All other expenses | $2,865,566 |
| Total functional expenses | $81,552,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,912,984 |
| Savings and temporary cash investments | $5,588,519 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,748,696 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $21,120 |
| Inventories for sale or use | $5,488,943 |
| Prepaid expenses and deferred charges | $702,826 |
| Net Land, buildings, and equipment | $241,289,031 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $41,438,981 |
| Intangible assets | $0 |
| Other assets | $2,582,478 |
| Total assets | $303,773,578 |
| Accounts payable and accrued expenses | $9,382,254 |
| 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 | $194,233,563 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,688,325 |
| Total liabilities | $217,304,142 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $894,985 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $85,574,451 |
| Total liabilities and net assets/fund balances | $303,773,578 |