Goldenwest Electric Co-Op Inc
- Assets
- $21.8m
- Revenue
- $5.9m
- Investments
- $2.1m
- Employees
- 9
- Location
- Wibaux, MT
- Founding
- 05/1956
- Data as of
- 12/2021
- EIN
- 81-0216809
Organization Overview
Goldenwest Electric Co-Op Inc is located in Wibaux, MT. The organization was established in 1956. 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, Goldenwest Electric Co-Op Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Goldenwest 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, Goldenwest Electric Co-Op Inc generated $5.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $5.3m during the year ending 12/2021. 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
RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICAL SERVICES AND UTILITIES TO MEMBERS AND PATRONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICAL SERVICES AND UTILITIES TO MEMBERS AND PATRONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Sokoloski Manager | Officer | 40 | $193,380 |
Robert Makelky Director | OfficerTrustee | 2 | $6,950 |
Don Maus Director | Trustee | 2 | $6,650 |
Charles Miske Director | OfficerTrustee | 2 | $5,750 |
David Franz Director | Trustee | 2 | $5,750 |
Dale Schweigert Director | OfficerTrustee | 2 | $5,600 |
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 | $5,695,467 |
| Investment income | $209,188 |
| 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 | $5,904,655 |
| 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 | $413,267 |
| Compensation of current officers, directors, key employees. | $224,080 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| 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 | $346,130 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $725,176 |
| Insurance | $0 |
| All other expenses | $432,800 |
| Total functional expenses | $5,305,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,337,828 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $439,921 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $340,256 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $14,416,046 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,124,264 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $93,971 |
| Total assets | $21,752,286 |
| Accounts payable and accrued expenses | $273,192 |
| 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 | $12,232,098 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,816,990 |
| Total liabilities | $14,322,280 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $7,430,006 |
| Total liabilities and net assets/fund balances | $21,752,286 |
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 |