Powder River Energy Corporation
- Assets
- $476.3m
- Revenue
- $160.0m
- Investments
- $17.0m
- Employees
- 140
- Location
- Sundance, WY
- Founding
- 02/1956
- Data as of
- 12/2021
- EIN
- 83-0162161
Organization Overview
Powder River Energy Corporation is located in Sundance, WY. 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, Powder River Energy Corporation employed 140 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Powder River Energy Corporation 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, Powder River Energy Corporation generated $160.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $160.0m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 7 years. 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
DISTRIBUTES ELECTRIC SERVICE TO RURAL CUSTOMERS IN NORTHEAST WYOMING AND SOUTHEASTERN MONTANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY FUNCTION OF POWDER RIVER ENERGY CORPORATION, A NONPROFIT COOPERATIVE ORGANIZATION, IS THE DISTRIBUTION OF ELECTRICITY TO ITS 12,686 MEMBER-OWNERS UNDER 501 (C) (12). IN 2021, THE COMPANY SOLD ITS MEMBER-OWNERS 1,887,771,550 KWH OF ELECTRICITY WITH A PEAK CONICIDENT LOAD OF 313,579 KW IN DECEMBER. THE COMPANY ADDED ROUGHLY $15 MILLION IN UTILITY PLANT IN ORDER TO EXTEND AND IMPROVE SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Easley Chief Executive Officer | Officer | 43 | $679,328 |
Quentin Rogers Vice President Of Engineering & Technical | Officer | 44 | $155,043 |
Brian Mills Deputy Gm And Human Resource Officer | Officer | 41 | $152,029 |
Bill Mertz III Beg 8121 Chief Finance & Admin Officer | Officer | 50 | $149,600 |
Michael Bingham District Foreman | 49 | $148,115 | |
Jeffery Bumgarner Vice President Of Member Services | 43 | $147,955 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wilson Power & Tree Service Llc Contract Labor | 12/30/21 | $295,657 |
Intermoutain Electric Service Contract Labor | 12/30/21 | $241,348 |
Schulte Ta Inc Contract Labor | 12/30/21 | $1,164,471 |
Interstate Companies Inc Vehicle Part & Service | 12/30/21 | $368,735 |
Northeast Wy Construction Inc Contract Labor | 12/30/21 | $262,487 |
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 | $159,494,404 |
| Investment income | $499,888 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,510 |
| Net Gain/Loss on Asset Sales | $24,286 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $160,024,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $177,094 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $5,240,392 |
| Compensation of current officers, directors, key employees. | $1,767,217 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,745,724 |
| Pension plan accruals and contributions | $2,358,500 |
| Other employee benefits | $1,867,228 |
| Payroll taxes | $647,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $89,000 |
| Fees for services: Accounting | $39,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129,780 |
| Advertising and promotion | $41,339 |
| 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 | $5,164,848 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,935,720 |
| Insurance | $0 |
| All other expenses | $1,049,445 |
| Total functional expenses | $160,024,088 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,700 |
| Savings and temporary cash investments | $14,776,514 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,020,795 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,491,492 |
| Inventories for sale or use | $5,649,975 |
| Prepaid expenses and deferred charges | $1,126,235 |
| Net Land, buildings, and equipment | $212,424,475 |
| Investments—publicly traded securities | $19,082,097 |
| Investments—other securities | $16,983,387 |
| Investments—program-related | $143,432,439 |
| Intangible assets | $137,599 |
| Other assets | $45,157,972 |
| Total assets | $476,284,680 |
| Accounts payable and accrued expenses | $17,253,035 |
| Grants payable | $0 |
| Deferred revenue | $7,000,000 |
| 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 | $173,611,590 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $49,588,145 |
| Total liabilities | $247,452,770 |
| 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 | $228,831,910 |
| Total liabilities and net assets/fund balances | $476,284,680 |
Grants Awarded
Over the last fiscal year, Powder River Energy Corporation has awarded $54,028 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Sundance, WY PURPOSE: CHARITABLE DONATION | $40,278 |
Sundance, WY PURPOSE: CHARITABLE DONATION | $13,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Upper Missouri G & T Electric Cooperative Inc Sidney, MT | $346,340,988 | $649,145,791 |
Intermountain Rural Electric Association Sedalia, CO | $1,228,049,117 | $331,307,918 |
United Power Inc Brighton, CO | $596,297,380 | $312,195,991 |
East River Electric Power Cooperative Inc Madison, SD | $750,935,062 | $299,322,334 |
Nebraska Electric Generation And Transmission Cooperative Inc Columbus, NE | $24,698,351 | $237,875,387 |
Powder River Energy Corporation Sundance, WY | $476,284,680 | $160,024,088 |
Holy Cross Electric Assoc Inc Glenwood Springs, CO | $346,769,060 | $143,962,151 |
Poudre Valley Rural Electric Association Inc Fort Collins, CO | $294,330,752 | $138,618,060 |
Mountain View Electric Assoc Inc Limon, CO | $390,883,600 | $130,263,584 |
Flathead Electric Cooperative Inc Kalispell, MT | $284,506,383 | $127,930,773 |
La Plata Electric Association Inc Durango, CO | $287,521,885 | $109,650,926 |
Sioux Valley-Southwestern Electric Cooperative Inc Colman, SD | $299,619,509 | $95,033,427 |