Civic Intelligence

Monroe County Electric Cooperative Inc

990 • Fiscal year 2019 • EIN 37-0425335

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 12, 2020

Organization Profilewww.mcec.org
PO Box 128Waterloo, IL 62298

(618) 939-7171

Siviq Scores

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

Liabilities / Assets

94th percentile

0.68x

Higher debt load relative to assets than 94% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

60th percentile

1.70x

Higher debt load relative to revenue than 60% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Net Margin

41st percentile

0.0%

Higher net margin than 41% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

85th percentile

$281,716

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2019

Asset Growth

65th percentile

4.2%

Faster asset growth than 65% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

44th percentile

-0.0%

Faster revenue growth than 44% of similar nonprofits.

2019 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$45,420,527

Up $1,841,497 (+4.2%) from 2018

Net Assets

Up

$14,492,987

Up $722,370 (+5.2%) from 2018

Liabilities

Up

$30,927,540

Up $1,119,127 (+3.8%) from 2018

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin41st percentile

Revenue

Down

$18,224,104

Down $4,247 (-0.0%) from 2018

Expenses

Down

$18,224,104

Down $4,247 (-0.0%) from 2018

Net Income

Flat

$0

Flat from 2018

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$60M$40M$20M$0Assets 2010: $34,771,900Liabilities 2010: $24,330,250Net Assets 2010: $10,441,6502010Assets 2011: $35,599,359Liabilities 2011: $24,846,788Net Assets 2011: $10,752,5712011Assets 2013: $39,306,976Liabilities 2013: $28,836,240Net Assets 2013: $10,470,7362013Assets 2014: $40,080,316Liabilities 2014: $29,127,051Net Assets 2014: $10,953,2652014Assets 2015: $41,103,595Liabilities 2015: $29,948,192Net Assets 2015: $11,155,4032015Assets 2016: $41,876,695Liabilities 2016: $30,068,924Net Assets 2016: $11,807,7712016Assets 2017: $42,630,282Liabilities 2017: $29,833,128Net Assets 2017: $12,797,1542017Assets 2018: $43,579,030Liabilities 2018: $29,808,413Net Assets 2018: $13,770,6172018Assets 2019: $45,420,527Liabilities 2019: $30,927,540Net Assets 2019: $14,492,9872019Assets 2020: $46,857,499Liabilities 2020: $31,069,452Net Assets 2020: $15,788,0472020Assets 2021: $48,641,421Liabilities 2021: $31,386,315Net Assets 2021: $17,255,1062021Assets 2022: $51,924,602Liabilities 2022: $33,745,989Net Assets 2022: $18,178,6132022Assets 2023: $52,959,364Liabilities 2023: $33,916,005Net Assets 2023: $19,043,3592023Assets 2024: $54,529,806Liabilities 2024: $34,302,843Net Assets 2024: $20,226,9632024

Highlighted filing

2019

Assets$45,420,527
Liabilities$30,927,540
Net Assets$14,492,987
Open 2019 Filing

Operations Trend

Revenue Growth44th percentile

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

$30M$20M$10M$0Expenses 2010: $13,272,5682010Expenses 2011: $13,816,6342011Revenue 2013: $15,331,118Expenses 2013: $14,538,080Net Income 2013: $793,0382013Revenue 2014: $15,774,334Expenses 2014: $15,774,334Net Income 2014: $02014Revenue 2015: $16,441,737Expenses 2015: $16,335,706Net Income 2015: $106,0312015Revenue 2016: $16,895,870Expenses 2016: $16,350,917Net Income 2016: $544,9532016Revenue 2017: $17,173,699Expenses 2017: $17,045,176Net Income 2017: $128,5232017Revenue 2018: $18,228,351Expenses 2018: $18,228,351Net Income 2018: $02018Revenue 2019: $18,224,104Expenses 2019: $18,224,104Net Income 2019: $02019Revenue 2020: $17,665,583Expenses 2020: $17,665,583Net Income 2020: $02020Revenue 2021: $17,977,778Expenses 2021: $17,977,778Net Income 2021: $02021Revenue 2022: $18,269,028Expenses 2022: $18,269,028Net Income 2022: $02022Revenue 2023: $18,872,783Expenses 2023: $18,872,783Net Income 2023: $02023Revenue 2024: $20,020,326Expenses 2024: $19,839,463Net Income 2024: $180,8632024

Highlighted filing

2019

Revenue$18,224,104
Expenses$18,224,104
Net Income$0
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 12, 2020
Return Version
2019v5.0
Gross Receipts
$18,224,104
Mission and Program Overview

Mission

As a member owned organization, Monroe County Electric Cooperative's mission is to provide and maintain quality electric and related services for the benefit and well-being of its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$35,550,699$36,715,955▲ $1,165,256
Rtn Earn Endowment Incm Other Fnds$12,923,702$13,740,872▲ $817,170
Investments Program Related$5,075,906$5,617,220▲ $541,314
Accounts Receivable$1,544,874$1,501,728▼ $43,146
Pd in Cap Srpls Land Bldg Eqp Fund$846,915$752,115▼ $94,800
Prepaid Expenses and Deferred Charges$765,618$713,145▼ $52,473
Cash and Non-Interest-Bearing Accounts$230,231$473,797▲ $243,566
Inventories for Sale or Use$391,702$361,462▼ $30,240
Savings and Temporary Cash Investments$20,000$20,000→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$43,579,030$45,420,527▲ $1,841,497
Other Assets Total-$17,220-
Liabilities
Mortgage Notes Payable Secured by Investment Property$27,846,366$28,772,317▲ $925,951
Accounts Payable and Accrued Expenses$1,585,499$1,347,031▼ $238,468
Other Liabilities$268,221$405,766▲ $137,545
Deferred Revenue$108,327$402,426▲ $294,099
Total Liabilities$29,808,413$30,927,540▲ $1,119,127
Net Assets / Fund Balance
Total Net Assets Fund Balance$13,770,617$14,492,987▲ $722,370
Total Liabilities and Net Assets / Fund Balance$43,579,030$45,420,527▲ $1,841,497

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$32,651,244$17,789,212$50,440,456
Buildings$2,260,098$1,549,551$3,809,649
Land$1,804,613-$1,804,613
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Alan WattlesPresident & CEOFT$181,854$99,862$281,716
Christopher ScottOps SupFT$127,752$44,149$171,901
Ronald RustebergForemanFT$112,246$51,915$164,161
Robert GrossForemanFT$111,252$47,744$158,996
Steven DrennanLinemanFT$108,365$44,799$153,164
Gary GilbertForemanFT$107,556$36,556$144,112
Alisa Wood Office ManagerControllerFT$102,431$39,799$142,230
Larry KraftDirectorPT$11,232-$11,232
Richard LieferDirectorPT$10,732-$10,732
Richard NeffDirector-$7,632-$7,632
George ObernagelDirector-$6,932-$6,932
Rich HollisDirector-$6,782-$6,782
Ross MuellerDirector-$6,471-$6,471
Gary GregsonDirector-$5,482-$5,482
Joel HarresDirector-$5,182-$5,182
Amy Hoffman-RohlfingDirector-$3,906-$3,906
Manlee KnoblochDirector-$1,557-$1,557

Highest Paid Contractors

ContractorServicesLocationCompensation
National Information Solutions CooperativeComputer support1 Innovation Circle, Lake St Louis, MO 63367$140,088
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$18,117,547
Investment Income
$16,080
Other Revenue
$90,477
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,670,548
Salaries, Compensation, and Employee Benefits$489,854
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,537,346
Interest---$1,106,431
Benefits to Members---$1,063,702
Current Officers, Directors, Trustees, and Key Employees---$489,854
Other Expenses---$486,948
Total Functional Expenses$0$0$0$18,224,104
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post Retirement Benefits$405,766
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 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, Line 6: Explanation of Classes of Members or Shareholder

“Monroe County Electric cooperative is a member owned cooperative.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Monroe county Electric cooperative, Inc. members elect the board of directors.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Bylaw changes are to be voted on by the membership”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The President/CEO & Office Manager review the Form 990 for reasonableness and consistency with prior years Form 990's and it is reviewed by the Board of Directors prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Reviewed annually at the monthly board meeting in addition to the BOD signing a conflict of interest form”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Annual review and salary comparisons are based upon the NRECA Wage & Salary Survey with all salary amounts being approved by the Board of Directors.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Bylaws are offered to all new members and are posted on our website. All other documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Monroe County Electric Cooperative Inc
EIN
37-0425335
Phone
6189397171
Address
PO Box 128, Waterloo, IL 62298

Signing Officer

Name
Alan Wattles
Title
President & CEO
Signed
2020-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alan Wattles
Formed
1938
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
26

Preparer

Firm
Kevin S Kelso CPA PC PA
Address
6700 Squibb Road Suite 215, Mission, KS 66202
Preparer
George Lynch
Phone
9138311150
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Increases

“Assignment of Net Margins to Members = $1063702”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Change in AOCI = -$132228”

Other Changes In Net Assets Or Fund Balances - Other Increases

“Other Changes = $37428”

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Retirement of Capital Credits = -$246532”

Form 990, Part IX, Line 4

“The instructions to the 2019 Form 990 indicate that organizations exempt under Section 501(c)(12) should report "patronage dividends paid" to their members in Part IX, LIne 4 of the Form 990. The Cooperative has interpreted the words "patronage dividends paid" in the instructinos to mean margins that are assigned or assignable to the members. The Cooperatve assigns the net margins to its members each year. therefore, the amount listed in Part IX, LIne 4 represents the net margins assignable to the members for the calendar year ended December 31, 2019.”

Financial Statement Notes

Part X : FIN48 Footnote

“An evaluation of whether or not it has any uncertain tax positions is determined on an annual basis by the Association. While the Association believes it has adequately provided for all tax positions, amounts asserted by taxing authorities could be different than the positions taken by the Association. The Association recognizes any interest and penalties assessed by taxing authorities in income tax expense and, with few exceptions, is no longer subject to federal, state or local income tax examinations by taxing authorities for years before 2016.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1Ops Sup
IRS990/Form990PartVIISectionAGrp/TitleTxt2Foreman
IRS990/Form990PartVIISectionAGrp/TitleTxt3Foreman
IRS990/Form990PartVIISectionAGrp/TitleTxt4Lineman
IRS990/Form990PartVIISectionAGrp/TitleTxt5Foreman
IRS990/Form990PartVIISectionAGrp/TitleTxt6Controller
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
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IRS990/LandBldgEquipCostOrOtherBssAmt056054718
IRS990/LegalDomicileStateCd0IL
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IRS990/LocalChaptersInd0false
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IRS990/MembersAndShrGrossIncomeAmt017616048
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0As a member owned organization, Monroe County Electric Cooperative's mission is to provide and maintain quality electric and related services for the benefit and well-being of its members.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt028772317
IRS990/NetAssetsOrFundBalancesBOYAmt013770617
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt063001
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt063001
IRS990/NetUnrelatedBusTxblIncmAmt0-32
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IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
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IRS990/OtherChangesInNetAssetsAmt0722370
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IRS990/OtherExpensesGrp/TotalAmt11998693
IRS990/OtherExpensesGrp/TotalAmt21200863
IRS990/OtherExpensesGrp/TotalAmt3486948
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IRS990/OtherLiabilitiesGrp/EOYAmt0405766
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Misc Non Electric
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt027476
IRS990/OtherRevenueTotalAmt027476
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OtherSourcesGrossIncomeAmt0655599
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
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IRS990/PayrollTaxesGrp/TotalAmt00
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0752115
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0765618
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0713145
IRS990/PrincipalOfficerNm0Alan Wattles
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc0Captial Credits
IRS990/ProgramServiceRevenueGrp/Desc1Misc Electric Revenue
IRS990/ProgramServiceRevenueGrp/Desc2Sale of Electricity
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1138493
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt217370253
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1138493
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt217370253
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IRS990/PYOtherRevenueAmt064306
IRS990/PYProgramServiceRevenueAmt018133603
IRS990/PYSalariesCompEmpBnftPaidAmt0467711
IRS990/PYTotalExpensesAmt018228351
IRS990/PYTotalRevenueAmt018228351
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IRS990/RelatedOrganizationCtrlEntInd0true
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IRS990/ReportProgramRelatedInvstInd0true
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Post Retirement Benefits
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0An evaluation of whether or not it has any uncertain tax positions is determined on an annual basis by the Association. While the Association believes it has adequately provided for all tax positions, amounts asserted by taxing authorities could be different than the positions taken by the Association. The Association recognizes any interest and penalties assessed by taxing authorities in income tax expense and, with few exceptions, is no longer subject to federal, state or local income tax examinations by taxing authorities for years before 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt228476
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt340541
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt425631
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt021245
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt119792
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt219268
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt311374
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt419168
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Alan Wattles

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$45,420,527
Liabilities
$30,927,540
Net assets
$14,492,987
Revenue
$18,224,104
Expenses
$18,224,104
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.5$34.3$20.2$20.0$19.8$0.18
2023Detailed filing. Detailed filing data is available for this year.$53.0$33.9$19.0$18.9$18.9$0.00
2022Detailed filing. Detailed filing data is available for this year.$51.9$33.7$18.2$18.3$18.3$0.00
2021Detailed filing. Detailed filing data is available for this year.$48.6$31.4$17.3$18.0$18.0$0.00
2020Detailed filing. Detailed filing data is available for this year.$46.9$31.1$15.8$17.7$17.7$0.00
2019Detailed filing. Detailed filing data is available for this year.$45.4$30.9$14.5$18.2$18.2$0.00
2018Detailed filing. Detailed filing data is available for this year.$43.6$29.8$13.8$18.2$18.2$0.00
2017Detailed filing. Detailed filing data is available for this year.$42.6$29.8$12.8$17.2$17.0$0.13
2016Detailed filing. Detailed filing data is available for this year.$41.9$30.1$11.8$16.9$16.4$0.54
2015Detailed filing. Detailed filing data is available for this year.$41.1$29.9$11.2$16.4$16.3$0.11
2014Detailed filing. Detailed filing data is available for this year.$40.1$29.1$11.0$15.8$15.8$0.00
2013Detailed filing. Detailed filing data is available for this year.$39.3$28.8$10.5$15.3$14.5$0.79
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.6$24.8$10.8$13.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.8$24.3$10.4$13.3