Mccone Electric Co-Op Inc
- Assets
- $37.9m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Circle, MT
- Founding
- 11/1965
- Data as of
- 12/2021
- EIN
- 81-0216629
Organization Overview
Mccone Electric Co-Op Inc is located in Circle, MT. The organization was established in 1965. 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, Mccone Electric Co-Op Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mccone 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 12/2021, Mccone Electric Co-Op Inc generated $10.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $9.3m during the year ending 12/2021. While expenses have increased by 1.3% 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
A NON-PROFIT, MEMBER-OWNED RURAL ELECTRIC COOPERATIVE FORMED TO DISTRIBUTE ELECTRIC POWER TO ITS MEMBERS AT THE LEAST POSSIBLE COST CONSISTENT WITH SOUND BUSINESS PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED ELECTRIC POWER TO APPROXIMATELY 5,400 SERVICE LOCATIONS TO COOPERATIVE MEMBERS IN RURAL EASTERN MONTANA, 365 DAYS PER YEAR, 24 HOURS PER DAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Hoy General Manager | Officer | 43 | $139,314 |
Edward Crockett Manager Of Engineering | 41 | $103,675 | |
Theresa Haynie Manager Of Finance & Administration | Officer | 43 | $99,057 |
Carla Delp President | OfficerTrustee | 14 | $33,659 |
Brent Mcrae Director | Trustee | 8 | $29,948 |
Conrad Moline President | OfficerTrustee | 6 | $29,610 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shennum Construction Company Powerline Construction | 12/30/21 | $860,398 |
Red Rock Power Company Powerline Construction | 12/30/21 | $512,136 |
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 | $9,823,205 |
| Investment income | $49,034 |
| 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 | $10,690,087 |
| 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. | $838,567 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,623,997 |
| Pension plan accruals and contributions | $275,455 |
| Other employee benefits | $342,751 |
| Payroll taxes | $115,968 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,947 |
| Fees for services: Accounting | $8,785 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $101,975 |
| 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 | $794,759 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,271,180 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,268,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,115,396 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,129,366 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $829,872 |
| Prepaid expenses and deferred charges | $15,470 |
| Net Land, buildings, and equipment | $32,083,787 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,682,857 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $37,856,748 |
| Accounts payable and accrued expenses | $4,095,777 |
| Grants payable | $0 |
| Deferred revenue | $66,799 |
| 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 | $19,479,918 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $51,755 |
| Total liabilities | $23,694,249 |
| 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 | $14,162,499 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $37,856,748 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Electric Co-Op Inc Heyburn, ID | $23,389,299 | $19,882,483 |
Lake Region Electric Association Inc Webster, SD | $46,798,980 | $19,860,340 |
Black Hills Electric Cooperative Inc Custer, SD | $75,104,972 | $23,022,656 |
Hill County Electric Cooperative Inc Havre, MT | $40,815,029 | $18,033,515 |
Lewis And Clark Rural Water System Inc Tea, SD | $426,307,061 | $39,792,007 |
West Central Electric Cooperative Incorporated Murdo, SD | $53,451,686 | $18,722,038 |
Ravalli County Electric Cooperative Inc Victor, MT | $44,767,170 | $17,487,477 |
Wheatland Rural Electric Association Wheatland, WY | $32,258,120 | $17,112,530 |
Park Electric Cooperative Incorporated Livingston, MT | $27,938,575 | $16,763,973 |
Glacier Electric Cooperative Inc Cut Bank, MT | $41,325,088 | $16,181,346 |
Mclean Electric Cooperative Inc Garrison, ND | $49,036,124 | $16,168,310 |
Carbon Power & Light Inc Saratoga, WY | $55,820,091 | $15,960,147 |