Mid Yellowstone Electric Co-Op Inc
- Assets
- $10.8m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 13
- Location
- Hysham, MT
- Founding
- 07/1941
- Data as of
- 12/2023
- EIN
- 81-0166465
Organization Overview
Mid Yellowstone Electric Co-Op Inc is located in Hysham, MT. The organization was established in 1941. 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, Mid Yellowstone Electric Co-Op Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mid Yellowstone Electric Co-Op 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, Mid Yellowstone Electric Co-Op Inc generated $3.9m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $3.7m during the year ending 12/2023. While expenses have increased by 4.5% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RURAL ELECTRIC COOPERATIVE PROVIDING ELECTRIC POWER AND SERVICES TO ITS MEMBERS LOCATED IN RURAL EASTERN MONTANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC SERVICE TO APPROXIMATELY 2040 METERS BELONGING TO APPROXIMATELY 740 MEMBERS IN RURAL AREAS OF MONTANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Decock Trustee | Trustee | 0.6 | $1,250 |
Timothy J Fulton Trustee-President | OfficerTrustee | 3 | $5,000 |
Arlo F Jensen Trustee | Trustee | 0.3 | $750 |
Steven F Nile Trustee | Trustee | 1 | $3,250 |
Richard E Pinkerton Trustee | Trustee | 6 | $9,750 |
Joseph J Schiffer Trustee- Vice President | OfficerTrustee | 4 | $5,500 |
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 | $3,768,863 |
| Investment income | $11,916 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$8,717 |
| 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 | $3,867,096 |
| 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 | $269,312 |
| Compensation of current officers, directors, key employees. | $340,092 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $398,463 |
| Pension plan accruals and contributions | $94,536 |
| Other employee benefits | $166,681 |
| Payroll taxes | $53,392 |
| Fees for services: Management | $139,350 |
| Fees for services: Legal | $20,881 |
| Fees for services: Accounting | $8,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,564 |
| Advertising and promotion | $6,612 |
| Office expenses | $16,739 |
| Information technology | $44,378 |
| Royalties | $0 |
| Occupancy | $16,771 |
| Travel | $123,553 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,669 |
| Interest | $119,040 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $465,399 |
| Insurance | $31,529 |
| All other expenses | $42,159 |
| Total functional expenses | $3,731,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,045 |
| Savings and temporary cash investments | $4,647 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $210,972 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $449,347 |
| Prepaid expenses and deferred charges | $190,059 |
| Net Land, buildings, and equipment | $9,205,365 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $631,200 |
| Intangible assets | $0 |
| Other assets | $70,408 |
| Total assets | $10,772,043 |
| Accounts payable and accrued expenses | $441,247 |
| 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 | $2,338,909 |
| Unsecured mortgages and notes payable | $397,242 |
| Other liabilities | $194,174 |
| Total liabilities | $3,371,572 |
| 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 | $7,022,702 |
| Retained earnings, endowment, accumulated income, or other funds | $377,769 |
| Total liabilities and net assets/fund balances | $10,772,043 |