Southeast Electric Cooperative Inc
- Assets
- $22.3m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 15
- Location
- Ekalaka, MT
- Founding
- 07/1952
- Data as of
- 12/2021
- EIN
- 81-0228814
Organization Overview
Southeast Electric Cooperative Inc is located in Ekalaka, MT. The organization was established in 1952. 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, Southeast Electric Cooperative Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeast 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, Southeast Electric Cooperative Inc generated $7.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $7.0m during the year ending 12/2021. While expenses have increased by 0.6% 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
MISSION STATEMENT: THROUGH DEDICATION, COOPERATION, COMMUNITY INVOLVEMENT AND LOCAL CONTROL, WE PROVIDE SAFE, DEPENDABLE, AFFORDABLE ENEGY, AND INNOVATIONS FOR THE BETTERMENT OF OUR MEMEBERS TO IMPROVE THE QUALITY OF LIFE AND CREATE A BRIGHTER FUTURE FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURCHASE OF POWER TO DISTRIBUTE TO OUR MEMBERS
BUILDING AND MAINTENANCE OF DISTRIBUTION AND TRANSMISSION POWER LINES TO SERVE OUR MEMEBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack E Hamblin General Manager | Officer | 40 | $154,862 |
Samuel Erfman Journeyman Lineman | 40 | $103,253 | |
Adam Kuntz Journeyman Lineman | 40 | $101,967 | |
Tye B Williams Assistant Manager | Officer | 40 | $94,386 |
Dave Hayden Director | Trustee | 2.33 | $9,757 |
Douglas Gardner Director | Trustee | 3.23 | $9,303 |
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 | $6,982,027 |
| Investment income | $39,439 |
| 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 | $8,687 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,030,153 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $24,184 |
| Grants and other assistance to domestic individuals. | $12,702 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $799,369 |
| Compensation of current officers, directors, key employees. | $444,177 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $868,131 |
| Pension plan accruals and contributions | $213,655 |
| Other employee benefits | $289,726 |
| Payroll taxes | $81,826 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,183 |
| Fees for services: Accounting | $7,519 |
| Fees for services: Lobbying | $378 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,408 |
| Fees for services: Other | $11,994 |
| Advertising and promotion | $9,333 |
| Office expenses | $17,426 |
| Information technology | $69,270 |
| Royalties | $0 |
| Occupancy | $216,374 |
| Travel | $199,056 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,635 |
| Interest | $336,082 |
| Payments to affiliates | $45,731 |
| Depreciation, depletion, and amortization | $717,317 |
| Insurance | $32,580 |
| All other expenses | $0 |
| Total functional expenses | $7,030,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,922 |
| Savings and temporary cash investments | $3,248,294 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,070,104 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $325,567 |
| Prepaid expenses and deferred charges | $20,178 |
| Net Land, buildings, and equipment | $13,678,213 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,650,956 |
| Other assets | $55,695 |
| Total assets | $22,253,929 |
| Accounts payable and accrued expenses | $794,648 |
| 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 | $8,627,553 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,422,201 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $12,831,728 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $22,253,929 |
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 |