Civic Intelligence

Consolidated Electric Cooperative

990 • Fiscal year 2023 • EIN 31-4259080

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 31, 2024

5255 State Route 95MT Gilead, OH 43338

(419) 947-3055

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.66x

Higher debt load relative to assets than 83% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

62nd percentile

1.57x

Higher debt load relative to revenue than 62% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Net Margin

46th percentile

0.0%

Higher net margin than 46% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

86th percentile

$508,552

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2023

Asset Growth

29th percentile

1.9%

Faster asset growth than 29% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

29th percentile

-0.1%

Faster revenue growth than 29% of similar nonprofits.

2023 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Assets

Up

$150,255,898

Up $2,790,556 (+1.9%) from 2022

Net Assets

Up

$51,643,005

Up $3,729,537 (+7.8%) from 2022

Liabilities

Down

$98,612,893

Down $938,981 (-0.9%) from 2022

Revenue

Down

$62,802,775

Down $37,896 (-0.1%) from 2022

Expenses

Up

$62,802,775

Up $3,811,331 (+6.5%) from 2022

Net Income

Down

$0

Down $3,849,227 (-100%) from 2022

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 2023: $150,255,898Liabilities 2023: $98,612,893Net Assets 2023: $51,643,0052023Assets 2024: $158,025,674Liabilities 2024: $101,643,180Net Assets 2024: $56,382,4942024

Highlighted filing

2023

Assets$150,255,898
Liabilities$98,612,893
Net Assets$51,643,005

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 2023: $62,802,775Expenses 2023: $62,802,775Net Income 2023: $02023Revenue 2024: $67,836,790Expenses 2024: $67,836,790Net Income 2024: $02024

Highlighted filing

2023

Revenue$62,802,775
Expenses$62,802,775
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 31, 2024
Return Version
2023v5.0
Gross Receipts
$64,642,413
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$85,143,594$92,762,888▲ $7,619,294
Rtn Earn Endowment Incm Other Fnds$1,964,817$51,643,005▲ $49,678,188
Cap Stk Tr Prin Current Funds$45,948,651$0▼ $45,948,651
Investments Program Related$24,328,415$25,171,078▲ $842,663
Investments in Publicly Traded Securities$14,900,000$11,853,119▼ $3,046,881
Accounts Receivable$9,534,707$8,521,680▼ $1,013,027
Cash and Non-Interest-Bearing Accounts$10,193,442$8,254,338▼ $1,939,104
Inventories for Sale or Use$2,586,710$2,838,669▲ $251,959
Prepaid Expenses and Deferred Charges$366,141$508,220▲ $142,079
Other Notes and Loans Receivable, Net$399,059$332,562▼ $66,497
Savings and Temporary Cash Investments$13,274$13,344▲ $70
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Intangible Assets$0--
Loans From Officers Directors$0$0→ $0
Total Assets$147,465,342$150,255,898▲ $2,790,556
Other Assets Total$0--
Liabilities
Mortgage Notes Payable Secured by Investment Property$81,597,203$79,789,480▼ $1,807,723
Accounts Payable and Accrued Expenses$9,058,854$10,982,722▲ $1,923,868
Deferred Revenue$8,500,000$7,500,000▼ $1,000,000
Other Liabilities$395,817$340,691▼ $55,126
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$99,551,874$98,612,893▼ $938,981
Net Assets / Fund Balance
Total Net Assets Fund Balance$47,913,468$51,643,005▲ $3,729,537
Total Liabilities and Net Assets / Fund Balance$147,465,342$150,255,898▲ $2,790,556

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$87,554,624$47,453,322$135,007,946
Buildings$3,994,700$3,571,421$7,566,121
Other Land Buildings$148,535$2,467,355$2,615,890
Land$1,065,029-$1,065,029
Investment Program Related Org$928,707--
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Philip CaskeyCEOFT$270,378$238,174$508,552
Timothy ApplegateCOOFT$179,077$140,019$319,096
Jaimey BurdenVP Operations & SafetyFT$160,129$145,801$305,930
Daniel JonesSpecial Project AdministratorFT$133,524$109,725$243,249
Daniel BoyselCommunity & Government Relations Vice PresidentFT$122,246$117,510$239,756
Christina ShoffnerVP Information SystemsFT$142,056$97,563$239,619
Amanda PridemoreCFOFT$167,948$71,232$239,180
Jennifer BargerCMOFT$128,627$104,034$232,661
Carrie BessingerFinancial Services ManagerFT$123,396$96,188$219,584
Daniel AmatoEngineering ManagerFT$124,296$87,212$211,508
Aimee JantzChief People OfficerFT$116,181$86,052$202,233
James TuppsDistrict Operations SupervisorFT$115,406$69,799$185,205
Michael ShusterVice ChairmanPT$32,466-$32,466
Michael StruckChairman-$20,016-$20,016
Timothy G BachelderTrusteePT$18,541-$18,541
Larry RoofTrusteePT$16,366-$16,366
David EricksonAssistant Secretary-$14,541-$14,541
Mary FullerSecretary-$13,691-$13,691
Kent KramerTreasurer-$13,166-$13,166
Donald BreeceTrustee-$12,841-$12,841
Michael HustonTrustee-$7,091-$7,091

Highest Paid Contractors

ContractorServicesLocationCompensation
Harris & Heavener ExcavatingFiber Plant Const149 HUMPHRIES DRIVE, Reynoldsburg, OH 43068$2,681,843
Ashplundh Tree ExpertsTree Trimming/clearingPO BOX 532729, Atlanta, GA 30353$1,700,556
New River Electrical CorpElectric Plant ConstPO BOX 70, Cloverdale, VA 24077$953,445
Trc Environmental CorporationElectric Engineering Services21 GRIFFIN ROAD NORTH, Windsor, CT 06095$166,425
Final Touch Painting ServicesPainting/maintenance3883 US 42 S, Delaware, OH 43015$152,574
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$58,477,631
Investment Income
$679,075
Other Revenue
$3,646,069
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$62,802,775
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,839,639
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$64,642,414
Total Revenue per Form 990
$62,802,775
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$48,651,582
Salaries, Compensation, and Employee Benefits$8,506,066
Grants and Similar Amounts Paid$8,200
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$5,636,927
All Other Expenses---$4,882,791
Depreciation Depletion---$3,951,115
Other Salaries and Wages---$3,649,024
Interest---$2,170,159
Other Employee Benefits---$2,084,185
Current Officers, Directors, Trustees, and Key Employees---$1,317,088
Pension Plan Contributions---$1,099,522
Other Expenses---$857,218
Information Technology---$524,212
Payroll Taxes---$356,247
Fees for Services Accounting---$173,874
Conferences and Meetings---$159,020
Insurance---$134,368
Fees for Services Legal---$64,956
Travel---$14,518
Office Expenses---$11,481
Grants to Domestic Individuals---$8,200
Total Functional Expenses$0$0$0$62,802,775

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$62,802,775
Total Expenses per Audited Statements$59,005,487
Expenses per Audited Statements$57,165,848
Expenses Not Reported on Financial Statements$5,636,927
Other Expense Adjustments$5,636,927
Expenses Not Reported on Form 990$1,839,639
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Consumer Deposits$208,328
Leases$132,363
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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, Part VI, Section A, Line 6

MEMBERS/OWNERS.

Form 990, Part VI, Section A, Line 7A

Members elect trustees at the annual meeting.

Form 990, Part VI, Section A, Line 7B

Per consolidated cooperative's (cc) 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 cc 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 incoproation, 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, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section B, 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 cerification 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, Part VI, Section B, Line 15

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, Part VI, Section C, 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 Cooperative
EIN
31-4259080
Phone
4199473055
Address
5255 STATE ROUTE 95, MT GILEAD, OH 43338

Signing Officer

Name
Amanda Pridemore
Title
CFO
Phone
4199473055
Signed
2024-10-31

Organization Details

Principal Officer
Michael Struck
Formed
1996
Legal Domicile
Oh
Voting Board Members
9
Independent Board Members
9
Employees
84
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Current year margins and capital credit retirements

Financial Statement Notes

Schedule D, Part X, Line 2

The cooperative complies with accounting standards codification (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 tax 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 2020, 2021, and 2022 are still open and subject to examination by the internal revenue service.

Schedule D, Part XI, Line 2D

Rental expenses $1,811,038 cost of goods sold $28,600

Schedule D, Part XII, Line 2D

Rental expenses $1,811,038 cost of goods sold $28,600

Schedule D, Part XII, Line 4B

This amount equals the total operating and non-operating margins at year-end to be allocated to members

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5COMMUNITY & GOVERNMENT RELATIONS VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6VP INFORMATION SYSTEMS
IRS990/Form990PartVIISectionAGrp/TitleTxt7FINANCIAL SERVICES MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt8CMO
IRS990/Form990PartVIISectionAGrp/TitleTxt9ENGINEERING MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHIEF PEOPLE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt11DISTRICT OPERATIONS SUPERVISOR
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