Northeast Oklahoma Electric Cooperative Inc
- Assets
- $249.5m
- Revenue
- $85.8m
- Investments
- $32.5m
- Employees
- 214
- Location
- Vinita, OK
- Founding
- 06/1940
- Data as of
- 12/2021
- EIN
- 73-0375582
Organization Overview
Northeast Oklahoma Electric Cooperative Inc is located in Vinita, OK. The organization was established in 1940. 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, Northeast Oklahoma Electric Cooperative Inc employed 214 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Oklahoma 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, Northeast Oklahoma Electric Cooperative Inc generated $85.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $82.6m during the year ending 12/2021. While expenses have increased by 1.7% 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
TO PROVIDE ELECTRICITY TO ITS MEMBERS ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY TO OUR MEMBERS - 40,685 ACTIVE METERS SERVED AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Webster General Manager/ceo | Officer | 48 | $304,308 |
Erik Feighner CFO | Officer | 42 | $173,798 |
Stanley Crawford Facilities Supervisor | 42 | $149,659 | |
Connie Porter Controller | 45 | $136,217 | |
Nick Sutton Mgr Of Oper & Eng Srv | 45 | $133,950 | |
David W Cusick Row Service Manager | 41 | $121,829 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nisc Computer Services/software Fees | 12/30/21 | $548,645 |
Sparks Line Construction/retirement | 12/30/21 | $2,816,776 |
Northeast Rural Services Row Clearing | 12/30/21 | $482,655 |
Allegiant Utility Services Meter Installer | 12/30/21 | $293,459 |
Riggs Tree Service Row Clearing | 12/30/21 | $1,500,520 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,067,811 |
| 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 | $4,067,811 |
| Total Program Service Revenue | $79,116,558 |
| Investment income | $449,242 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,011,750 |
| Net Gain/Loss on Asset Sales | $1,383,116 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $85,761,419 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $54,964 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,503,496 |
| Compensation of current officers, directors, key employees. | $599,058 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,552,024 |
| 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 | $3,949,275 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,918,443 |
| Insurance | $0 |
| All other expenses | $2,384,524 |
| Total functional expenses | $82,628,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,868,284 |
| Savings and temporary cash investments | $671,356 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,657,907 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,288,810 |
| Prepaid expenses and deferred charges | $1,153,581 |
| Net Land, buildings, and equipment | $162,703,560 |
| Investments—publicly traded securities | $11,239,897 |
| Investments—other securities | $32,496,631 |
| Investments—program-related | $6,855,865 |
| Intangible assets | $0 |
| Other assets | $3,586,490 |
| Total assets | $249,522,381 |
| Accounts payable and accrued expenses | $12,405,234 |
| 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 | $114,280,648 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,952,145 |
| Total liabilities | $152,638,027 |
| 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 | $4,476,263 |
| Retained earnings, endowment, accumulated income, or other funds | $92,408,091 |
| Total liabilities and net assets/fund balances | $249,522,381 |
Grants Awarded
Over the last fiscal year, Northeast Oklahoma Electric Cooperative Inc has awarded $53,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
Vinita, OK PURPOSE: GENERAL ASSISTANCE | $25,000 |
Vinita, OK PURPOSE: COBANK MATCHING SUCCESS | $10,000 |
DELAWARE COUNTY PURPOSE: YOUTH AG PROGRAM | $6,000 |
MAYES COUNTY PURPOSE: YOUTH AG PROGRAM | $6,000 |
OTTAWA COUNTY PURPOSE: YOUTH AG PROGRAM | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pedernales Electric Cooperative Inc Johnson City, TX | $2,029,870,184 | $830,415,690 |
Golden Spread Electric Cooperative Inc Amarillo, TX | $1,251,228,427 | $703,244,105 |
Denton County Electric Cooperative Inc Corinth, TX | $1,535,737,864 | $639,082,515 |
South Texas Electric Cooperative Inc Nursery, TX | $1,458,906,185 | $553,923,230 |
East Texas Electric Cooperative Inc Nacogdoches, TX | $1,118,534,652 | $504,330,746 |
Intermountain Rural Electric Association Sedalia, CO | $1,228,049,117 | $331,307,918 |
Tri-County Electric Cooperative Inc Aledo, TX | $737,055,460 | $308,529,771 |
United Power Inc Brighton, CO | $596,297,380 | $312,195,991 |
Northeast Texas Electric Coop Inc Longview, TX | $329,483,821 | $288,674,270 |
Magic Valley Electric Cooperative Inc Mercedes, TX | $542,158,549 | $266,758,522 |
Electric Reliability Council Of Texas Inc 10-10-90 Austin, TX | $3,229,605,813 | $252,635,175 |
Bluebonnet Electric Cooperative Inc Bastrop, TX | $657,902,626 | $247,741,918 |