Civic Intelligence

Consolidated Electric Cooperative

990 • Fiscal year 2017 • EIN 31-4259080

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

5255 State Route 95 PO Box 111MT Gilead, OH 43338

(419) 947-3055

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

0.68x

Higher debt load relative to assets than 89% of similar nonprofits.

2017 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

69th percentile

1.59x

Higher debt load relative to revenue than 69% of similar nonprofits.

2017 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2017

Net Margin

52nd percentile

0.1%

Higher net margin than 52% of similar nonprofits.

2017 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

32nd percentile

$262,230

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2017 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2017

Asset Growth

62nd percentile

3.8%

Faster asset growth than 62% of similar nonprofits.

2017 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

65th percentile

3.7%

Faster revenue growth than 65% of similar nonprofits.

2017 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Up

$112,691,755

Up $4,172,847 (+3.8%) from 2016

Net Assets

Down

$36,546,273

Down $1,053,981 (-2.8%) from 2016

Liabilities

Up

$76,145,482

Up $5,226,828 (+7.4%) from 2016

Revenue

Up

$47,903,255

Up $1,697,494 (+3.7%) from 2016

Expenses

Up

$47,843,854

Up $2,716,032 (+6.0%) from 2016

Net Income

Down

$59,401

Down $1,018,538 (-94%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2014: $97,062,248Liabilities 2014: $60,878,631Net Assets 2014: $36,183,6172014Assets 2015: $104,645,454Liabilities 2015: $67,221,807Net Assets 2015: $37,423,6472015Assets 2016: $108,518,908Liabilities 2016: $70,918,654Net Assets 2016: $37,600,2542016Assets 2017: $112,691,755Liabilities 2017: $76,145,482Net Assets 2017: $36,546,2732017Assets 2019: $129,227,028Liabilities 2019: $87,202,422Net Assets 2019: $42,024,6062019Assets 2020: $130,784,994Liabilities 2020: $87,439,457Net Assets 2020: $43,345,5372020Assets 2021: $135,336,279Liabilities 2021: $90,077,498Net Assets 2021: $45,258,7812021Assets 2022: $147,465,342Liabilities 2022: $99,551,874Net Assets 2022: $47,913,4682022Assets 2024: $158,025,674Liabilities 2024: $101,643,180Net Assets 2024: $56,382,4942024

Highlighted filing

2017

Assets$112,691,755
Liabilities$76,145,482
Net Assets$36,546,273

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$80M$60M$40M$20M$0Revenue 2014: $45,503,997Expenses 2014: $43,954,948Net Income 2014: $1,549,0492014Revenue 2015: $46,281,878Expenses 2015: $44,265,912Net Income 2015: $2,015,9662015Revenue 2016: $46,205,761Expenses 2016: $45,127,822Net Income 2016: $1,077,9392016Revenue 2017: $47,903,255Expenses 2017: $47,843,854Net Income 2017: $59,4012017Revenue 2019: $51,009,121Expenses 2019: $46,766,593Net Income 2019: $4,242,5282019Revenue 2020: $51,931,421Expenses 2020: $49,711,646Net Income 2020: $2,219,7752020Revenue 2021: $58,791,301Expenses 2021: $54,834,618Net Income 2021: $3,956,6832021Revenue 2022: $62,840,671Expenses 2022: $58,991,444Net Income 2022: $3,849,2272022Revenue 2024: $67,836,790Expenses 2024: $67,836,790Net Income 2024: $02024

Highlighted filing

2017

Revenue$47,903,255
Expenses$47,843,854
Net Income$59,401
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.3
Gross Receipts
$47,919,087
Mission and Program Overview

Mission

Dedicated to improving the quality of life for our members and communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$75,526,254$81,394,134▲ $5,867,880
Cap Stk Tr Prin Current Funds$36,927,777$35,465,321▼ $1,462,456
Investments Program Related$19,837,469$21,297,930▲ $1,460,461
Accounts Receivable$7,459,977$5,377,315▼ $2,082,662
Inventories for Sale or Use$2,052,669$1,588,242▼ $464,427
Prepaid Expenses and Deferred Charges$1,539,595$1,458,718▼ $80,877
Rtn Earn Endowment Incm Other Fnds$672,477$1,080,952▲ $408,475
Cash and Non-Interest-Bearing Accounts$915,803$830,559▼ $85,244
Other Notes and Loans Receivable, Net$1,176,014$733,143▼ $442,871
Savings and Temporary Cash Investments$11,127$11,714▲ $587
Total Assets$108,518,908$112,691,755▲ $4,172,847
Liabilities
Mortgage Notes Payable Secured by Investment Property$55,666,993$60,373,427▲ $4,706,434
Accounts Payable and Accrued Expenses$14,356,286$14,643,815▲ $287,529
Other Liabilities$895,375$1,128,240▲ $232,865
Total Liabilities$70,918,654$76,145,482▲ $5,226,828
Net Assets / Fund Balance
Total Net Assets Fund Balance$37,600,254$36,546,273▼ $1,053,981
Total Liabilities and Net Assets / Fund Balance$108,518,908$112,691,755▲ $4,172,847

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$72,917,908$23,685,590$96,603,498
Buildings$6,034,406$2,340,879$8,375,285
Other Land Buildings$1,376,791$1,812,194$3,188,985
Land$1,065,029-$1,065,029
Investment Program Related Org$758,192--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Phillip CaskeyCEOFT$201,244$60,986$262,230
Douglas PayauysCOO Fiber SeFT$139,419$56,864$196,283
Douglas PayauysCOO Fiber Services-$139,419$56,864$196,283
Timothy ApplegateCOO Elect. SFT$132,119$54,313$186,432
Timothy ApplegateCOO Elect. Services-$132,119$54,313$186,432
Joseph L Churilla JrCFOFT$141,128$34,169$175,297
Pamela HawkChroFT$117,327$51,907$169,234
Richard MillerSecretaryPT$15,359-$15,359
Mike ShusterTrusteePT$14,691-$14,691
Larry RoofChairmanPT$13,616-$13,616
Don MccrackenVice ChairmaPT$11,257-$11,257
Michael StruckAssistant S-$9,816-$9,816
Charles LynnTreasurer-$9,102-$9,102
Jim BursonTrustee-$7,615-$7,615
Donald BreeceTrustee-$6,311-$6,311
Kent KramerTrustee-$4,909-$4,909

Highest Paid Contractors

ContractorServicesLocationCompensation
Vaughn IndustriesPlant Construct1201 E FINDLAY ST, STE 410, Carey, OH 43316$736,728
Middleton MechanicalGas Line Instal84 HURON ST, Bellville, OH 44813$361,809
Stafford Resource LLCSharepnt Setup485 METRO PLACE S, Dublin, OH 43017$167,033
Keith McwherterVehicle Fuel84 ROSS ST, Delaware, OH 43015$146,107
Douglas B LoudonBuildng Remodel6798 GOLDEN WAY, Powell, OH 43065$117,854
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$45,337,872
Investment Income
$149,459
Other Revenue
$2,415,924
Change in Net Assets
$59,401

Audited Revenue Reconciliation

Revenue per Audited Statements
$47,903,255
Total Revenue per Audited Statements
$47,903,255
Total Revenue per Form 990
$47,903,255
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,019,941
Salaries, Compensation, and Employee Benefits$823,913
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$4,923,175
Depreciation Depletion---$3,542,865
Other Expenses---$2,773,835
Interest---$1,976,773
Current Officers, Directors, Trustees, and Key Employees---$823,913
Total Functional Expenses$0$0$0$47,843,854

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$47,843,854
Total Expenses per Audited Statements$47,843,854
Total Expenses per Form 990$47,843,854
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Consumer Deposits$1,128,240
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

MEMBERS/OWNERS.

Form 990, Page 6, Part VI, Line 7A

Members elect trustees at the annual meeting.

Form 990, Page 6, Part VI, Line 7B

Per consolidated electric cooperative's (cec) code of regulations - any person, whether a natural person or a firm, association, corporation, partnership, body politic or subdivision thereof, will become a member of cec upon receipt of electric, natural gas, propane, oil or telecommunications products, commodities, or services from the cooperative. Unless otherwise provided by law, by the articles of incorporation, or by this code of regulations, each member is entitled to one vote upon each matter submitted to a vote of the members, provided the matter has been included in the notice detailing the business to be transacted.

Form 990, Page 6, Part VI, Line 11B

The form 990 is placed on the board extranet for review prior to filing.

Form 990, Page 6, Part VI, Line 12C

Among other qualifications, to be qualified to become and remain a member of the board ("trustee"), an individual: 1. Must comply with the policy and 2. Must annually complete and sign the conflict of interest certification and disclosure form attached to this policy ("form"), and submit the completed and signed form to cec immediately providing to consolidated's board chair all completed and signed forms any fact, notation, mark or alteration other than a trustee's printed name, a trustee's signature, or the date.

Form 990, Page 6, Part VI, Line 15A

There is a board policy to review wages that states: 1. The board of trustees, with the assistance of the president/ceo, shall annually approve the compensation pay plans. 2. The president/ceo shall be responsible for the administration of this policy and may make further delegation to the staff to implement this policy. Further there is written policy stating the board of trustees recognizes its responsibility for the employment and compensation of a president/ceo, and appraisal of the president/ceo's performance upon occasion, in order that growth, development and effective improvement are encouraged.

Form 990, Page 6, Part VI, Line 15B

There is a board policy to review wages that states: 1. The board of trustees, with the assistance of the president/ceo, shall annually approve the compensation pay plans. 2. The president/ceo shall be responsible for the administration of this policy and may make further delegation to the staff to implement this policy. Further there is written policy stating the board of trustees recognizes its responsibility for the employment and compensation of a president/ceo, and appraisal of the president/ceo's performance upon occasion, in order that growth, development and effective improvement are encouraged.

Form 990, Page 6, Part VI, Line 19

There is a policy on inspection of cooperative records that in part states, "the cooperative shall permit a current member of the cooperative to inspect certain records of the cooperative, at a reasonable time and for a proper purpose.." the organization's governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Consolidated Electric Cooperative
EIN
31-4259080
Phone
4199473055
Address
5255 STATE ROUTE 95 PO BOX 111, MT GILEAD, OH 43338

Signing Officer

Name
Terilyn Wallis
Title
CFO
Phone
4199473055
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Shuster
Formed
1996
Legal Domicile
Oh
Voting Board Members
9
Independent Board Members
9
Employees
70

Preparer

Firm
Bhm CPA Group Inc
Address
PO BOX 875, CIRCLEVILLE, OH 43113-0875
Preparer
Jeffrey a Harr
Phone
7404745210
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Administrative/general 1,776,126 0 0 excise tax 1,509,690 0 0 real estate taxes 1,388,743 0 0 general plant maintenance 248,616 0 0 total 4,923,175 0 0

Form 990, Part XI, Line 9

Patronage capital returned to members -1,113,382

Financial Statement Notes

Schedule D, Page 3, Part X

The cooperative complies with asc 740-10 related to uncertain tax positions. Asc 740-10 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return. Management is not aware of any positions taken by the cooperative on its tax returns that they consider to be uncertain or that would jeopardize its tax exempt status. Tax returns for the years ended 2014, 2015 and 2016 are still open and subject to examination by the internal revenue service.

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IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10COO ELECT. S
IRS990/Form990PartVIISectionAGrp/TitleTxt11CHRO
IRS990/Form990PartVIISectionAGrp/TitleTxt12COO FIBER SE
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS IN BUCKEYE POWER
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1INVESTMENTS IN SUBSIDIARIES
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2INVESTMENTS IN VARIOUS COOP BANKS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3SOFTWARE, INSURANCE & INTERNET CO
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONSUMER DEPOSITS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COOPERATIVE COMPLIES WITH ASC 740-10 RELATED TO UNCERTAIN TAX POSITIONS. ASC 740-10 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. MANAGEMENT IS NOT AWARE OF ANY POSITIONS TAKEN BY THE COOPERATIVE ON ITS TAX RETURNS THAT THEY CONSIDER TO BE UNCERTAIN OR THAT WOULD JEOPARDIZE ITS TAX EXEMPT STATUS. TAX RETURNS FOR THE YEARS ENDED 2014, 2015 AND 2016 ARE STILL OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PHILLIP CASKEY

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