Big Flat Electric Cooperative Inc
- Assets
- $11.5m
- Revenue
- $4.3m
- Investments
- $0.0
- Employees
- 12
- Location
- Malta, MT
- Founding
- 08/1948
- Data as of
- 12/2022
- EIN
- 81-0217772
Organization Overview
Big Flat Electric Cooperative Inc is located in Malta, MT. The organization was established in 1948. 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 12/2022, Big Flat Electric Cooperative Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Big Flat 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 12/2022, Big Flat Electric Cooperative Inc generated $4.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $3.8m during the year ending 12/2022. While expenses have increased by 2.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICITY AND UTILITY SERVICES TO ITS MEMBERS AND PATRONS LOCATED IN RURAL MONTANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY & UTILITY SERVICES TO MEMBERS AND PATRONS LOCATED IN THE NORTH CENTRAL AREA OF MONTANA. IT IS A RURAL ELECTRIC COOPERATIVE WHICH SERVES APPROXIMATELY 1,149 MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roger Solberg Vice President | OfficerTrustee | 4 | $4,400 |
Patty Quisno Director | Trustee | 3 | $3,800 |
Alan Wasson President | OfficerTrustee | 5 | $7,500 |
Betty Campbell Secretary- Treasurer | OfficerTrustee | 3 | $1,800 |
Duane Klindworth Director | Trustee | 4 | $5,140 |
Alan Van Voast Director | Trustee | 4 | $5,215 |
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 | $3,993,052 |
| Investment income | $36,979 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,804 |
| 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 | $4,255,494 |
| 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 | $198,852 |
| Compensation of current officers, directors, key employees. | $298,850 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,422 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,916 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,315 |
| Fees for services: Accounting | $11,500 |
| Fees for services: Lobbying | $540 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,337 |
| Advertising and promotion | $0 |
| Office expenses | $24,856 |
| Information technology | $759 |
| 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 | $46,586 |
| Interest | $43,951 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $597,315 |
| Insurance | $9,606 |
| All other expenses | $201,837 |
| Total functional expenses | $3,824,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $382,185 |
| Savings and temporary cash investments | $1,770,643 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $447,645 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $461,344 |
| Prepaid expenses and deferred charges | $85,177 |
| Net Land, buildings, and equipment | $6,918,138 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,425,239 |
| Intangible assets | $0 |
| Other assets | $46,814 |
| Total assets | $11,537,185 |
| Accounts payable and accrued expenses | $136,131 |
| 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 | $1,066,058 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $851,091 |
| Total liabilities | $2,053,280 |
| 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 | $5,121,073 |
| Retained earnings, endowment, accumulated income, or other funds | $4,362,832 |
| Total liabilities and net assets/fund balances | $11,537,185 |