Midstate Electric Cooperative Inc
- Assets
- $86.1m
- Revenue
- $38.5m
- Investments
- $0.0
- Employees
- 73
- Location
- La Pine, OR
- Founding
- 02/1955
- Data as of
- 12/2022
- EIN
- 93-0389023
Organization Overview
Midstate Electric Cooperative Inc is located in La Pine, OR. The organization was established in 1955. 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, Midstate Electric Cooperative Inc employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midstate 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, Midstate Electric Cooperative Inc generated $38.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $38.5m during the year ending 12/2022. While expenses have increased by 2.3% per year over the past 4 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
DELIVERING AND SELLING ELECTRICITY TO THE MEMBERS OF THE COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO MEMBERS: 17,519 MEMBERS
BPA WEATHERIZATION PROGRAMS:37 JOBS COMPLETED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Anderson General Manager | Officer | 50 | $254,387 |
Jami Steinhauer Chief Financial Officer | Officer | 45 | $173,968 |
Tom Weller Engineering Manager | Officer | 45 | $181,378 |
Pat Barker Working Foreman Area Coordinator | 50 | $213,185 | |
Gary Green Serviceman | 50 | $163,881 | |
James Powers Information Services Manager | 45 | $160,669 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dj's Electrical Inc Line Construction | 12/30/22 | $1,295,103 |
Jensens Tree Service Tree Trimming | 12/30/22 | $853,625 |
Direct Drilling Inc Drilling | 12/30/22 | $360,958 |
Christenson Electric Inc Line Construction | 12/30/22 | $719,167 |
Estrada Consultants Utility Inspection | 12/30/22 | $299,812 |
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 | $38,123,082 |
| Investment income | $292,455 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $40,205 |
| 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 | $38,478,434 |
| 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 | $1,790,147 |
| Compensation of current officers, directors, key employees. | $879,895 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,474,020 |
| Pension plan accruals and contributions | $1,145,052 |
| Other employee benefits | $1,358,055 |
| Payroll taxes | $505,671 |
| Fees for services: Management | $3,800 |
| Fees for services: Legal | $68,875 |
| Fees for services: Accounting | $23,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $944,961 |
| Advertising and promotion | $516,522 |
| Office expenses | $189,209 |
| Information technology | $831,527 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $96,000 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $443,073 |
| Interest | $1,472,515 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,433,089 |
| Insurance | $229,611 |
| All other expenses | $1,640,426 |
| Total functional expenses | $38,478,434 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $439,688 |
| Savings and temporary cash investments | $53,479 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,174,469 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,525,298 |
| Prepaid expenses and deferred charges | $1,988,526 |
| Net Land, buildings, and equipment | $72,291,244 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,606,688 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $86,079,392 |
| Accounts payable and accrued expenses | $3,074,526 |
| 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 | $43,802,166 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,385,806 |
| Total liabilities | $52,262,498 |
| 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 | $4,559,493 |
| Retained earnings, endowment, accumulated income, or other funds | $29,257,401 |
| Total liabilities and net assets/fund balances | $86,079,392 |