Garland Light & Power Company
- Assets
- $14.8m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Powell, WY
- Founding
- 04/1938
- Data as of
- 12/2023
- EIN
- 83-0119598
Organization Overview
Garland Light & Power Company is located in Powell, WY. The organization was established in 1938. 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, Garland Light & Power Company employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Garland Light & Power Company 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, Garland Light & Power Company generated $5.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $4.7m during the year ending 12/2023. While expenses have increased by 2.6% per year over the past 9 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 SUPPLYING ELECTRICITY AND SERVICES TO ITS MEMBERS LOCATED IN RURAL WYOMING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICAL POWER AND UTILITIES SERVICES TO APPROXIMATELY 2,268 METERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Spencer George Director | Trustee | 1.32 | $2,029 |
Jerry Thompson President | OfficerTrustee | 3.46 | $1,859 |
Peggy A Ruble Vice President | OfficerTrustee | 8.48 | $2,029 |
Ryan Gorsuch Director | Trustee | 1.5 | $2,207 |
Scott Smith Secretary-Treasurer | OfficerTrustee | 8.15 | $7,061 |
Molly K Lynn General Manager | Officer | 40 | $115,370 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Integrated Power Co Substation Construction | 12/30/20 | $266,602 |
Tri State G & T Construction | 12/30/20 | $179,374 |
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 | $4,988,764 |
| Investment income | $98,029 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,369 |
| 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 | $5,132,476 |
| 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 | $256,316 |
| Compensation of current officers, directors, key employees. | $265,474 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,328 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,376 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,885 |
| Fees for services: Accounting | $9,600 |
| Fees for services: Lobbying | $358 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,504 |
| Advertising and promotion | $0 |
| Office expenses | $34,521 |
| Information technology | $63,850 |
| 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 | $3,262 |
| Interest | $331,581 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $350,011 |
| Insurance | $0 |
| All other expenses | $71,847 |
| Total functional expenses | $4,734,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,298 |
| Savings and temporary cash investments | $2,641,365 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $372,661 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $678,013 |
| Prepaid expenses and deferred charges | $12,342 |
| Net Land, buildings, and equipment | $8,420,213 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,464,352 |
| Intangible assets | $0 |
| Other assets | $73,975 |
| Total assets | $14,761,219 |
| Accounts payable and accrued expenses | $49,873 |
| 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 | $7,913,395 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $451,286 |
| Total liabilities | $8,414,554 |
| 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 | $47,931 |
| Retained earnings, endowment, accumulated income, or other funds | $6,298,734 |
| Total liabilities and net assets/fund balances | $14,761,219 |