Civic Intelligence

Norris Electric Cooperative

990 • Fiscal year 2019 • EIN 37-0442695

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 25, 2020

Organization ProfileWWW.NORRISELECTRIC.COM

View Organization Page

8543 N State Hwy 130Newton, IL 62448

(618) 783-8765

Siviq Scores

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

Liabilities / Assets

7th percentile

0.26x

Higher debt load relative to assets than 7% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

11th percentile

0.62x

Higher debt load relative to revenue than 11% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Net Margin

85th percentile

5.9%

Higher net margin than 85% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

9th percentile

$214,414

Higher top officer pay than 9% of similar nonprofits.

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

2019 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2019

Asset Growth

70th percentile

5.4%

Faster asset growth than 70% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-17%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$100,142,863

Up $5,131,412 (+5.4%) from 2018

Net Assets

Up

$74,589,915

Up $3,384,213 (+4.8%) from 2018

Liabilities

Up

$25,552,948

Up $1,747,199 (+7.3%) from 2018

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin85th percentile

Revenue

Down

$41,106,281

Down $8,224,577 (-17%) from 2018

Expenses

Down

$38,696,559

Down $6,443,317 (-14%) from 2018

Net Income

Down

$2,409,722

Down $1,781,260 (-43%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$150M$100M$50M$0Assets 2016: $84,920,086Liabilities 2016: $17,293,522Net Assets 2016: $67,626,5642016Assets 2017: $87,628,235Liabilities 2017: $18,133,811Net Assets 2017: $69,494,4242017Assets 2018: $95,011,451Liabilities 2018: $23,805,749Net Assets 2018: $71,205,7022018Assets 2019: $100,142,863Liabilities 2019: $25,552,948Net Assets 2019: $74,589,9152019Assets 2020: $112,130,663Liabilities 2020: $36,632,963Net Assets 2020: $75,497,7002020Assets 2021: $122,679,839Liabilities 2021: $46,459,351Net Assets 2021: $76,220,4882021Assets 2022: $134,097,088Liabilities 2022: $58,907,333Net Assets 2022: $75,189,7552022Assets 2023: $142,761,430Liabilities 2023: $67,472,730Net Assets 2023: $75,288,7002023Assets 2024: $147,320,775Liabilities 2024: $72,649,380Net Assets 2024: $74,671,3952024

Highlighted filing

2019

Assets$100,142,863
Liabilities$25,552,948
Net Assets$74,589,915
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

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

$60M$40M$20M$0-$20MRevenue 2016: $44,545,519Expenses 2016: $42,207,859Net Income 2016: $2,337,6602016Revenue 2017: $46,933,143Expenses 2017: $43,679,585Net Income 2017: $3,253,5582017Revenue 2018: $49,330,858Expenses 2018: $45,139,876Net Income 2018: $4,190,9822018Revenue 2019: $41,106,281Expenses 2019: $38,696,559Net Income 2019: $2,409,7222019Revenue 2020: $39,962,096Expenses 2020: $38,767,404Net Income 2020: $1,194,6922020Revenue 2021: $43,756,656Expenses 2021: $41,658,063Net Income 2021: $2,098,5932021Revenue 2022: $47,152,276Expenses 2022: $47,922,352Net Income 2022: -$770,0762022Revenue 2023: $51,604,627Expenses 2023: $50,077,264Net Income 2023: $1,527,3632023Revenue 2024: $53,250,149Expenses 2024: $52,456,742Net Income 2024: $793,4072024

Highlighted filing

2019

Revenue$41,106,281
Expenses$38,696,559
Net Income$2,409,722
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 25, 2020
Return Version
2019v5.1
Gross Receipts
$41,171,680
Mission and Program Overview

Mission

To provide electricity and other services to its members.

Distribution of electricity to rural members of the cooperative

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$82,376,386$89,728,897▲ $7,352,511
Rtn Earn Endowment Incm Other Fnds$70,664,052$74,048,265▲ $3,384,213
Investments Program Related$2,634,917$3,303,935▲ $669,018
Accounts Receivable$4,144,984$3,140,195▼ $1,004,789
Inventories for Sale or Use$2,047,296$2,699,227▲ $651,931
Cash and Non-Interest-Bearing Accounts$3,679,787$1,140,235▼ $2,539,552
Pd in Cap Srpls Land Bldg Eqp Fund$541,650$541,650→ $0
Prepaid Expenses and Deferred Charges$128,081$130,374▲ $2,293
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$95,011,451$100,142,863▲ $5,131,412
Liabilities
Accounts Payable and Accrued Expenses$16,310,772$15,290,517▼ $1,020,255
Other Liabilities$7,422,128$5,499,867▼ $1,922,261
Mortgage Notes Payable Secured by Investment Property$72,849$4,762,564▲ $4,689,715
Total Liabilities$23,805,749$25,552,948▲ $1,747,199
Net Assets / Fund Balance
Total Net Assets Fund Balance$71,205,702$74,589,915▲ $3,384,213
Total Liabilities and Net Assets / Fund Balance$95,011,451$100,142,863▲ $5,131,412

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$88,193,293$41,914,199$130,107,492
Buildings$1,158,339$928,959$2,087,298
Land$377,265-$377,265
Compensation and Service Providers
Top Officer Pay9th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tami PhillipsCEOFT$173,683$40,731$214,414
Dian MooreLinemanFT$131,223$41,297$172,520
Casey M FulkLinemanFT$121,548$44,654$166,202
Jeff HiggsLinemanFT$123,156$40,205$163,361
Doug CaseyForemanFT$123,734$33,784$157,518
Steve HunzingerLinemanFT$119,945$34,746$154,691
John David SheppardDirector-$12,418-$12,418
Dan StrineDirector-$12,070-$12,070
Ron ViehmanDirector-$11,471-$11,471
Scott E WeissDirector-$8,320-$8,320
Gary BuserDirector-$8,141-$8,141
Theodore HelminkDirector-$7,961-$7,961
Dean DietrichSecretary/treasurer-$7,952-$7,952
Gilbert GarbeDirector-$7,742-$7,742
Gordon McclurePresident-$7,732-$7,732
Justin ParcelVice President-$7,446-$7,446
Kurt HolscherDirector-$5,389-$5,389

Highest Paid Contractors

ContractorServicesLocationCompensation
Henkels & Mccoy INCUtility Construction1620 NORTH BROADWAY, Salem, IL 62881$2,407,234
Brownstown ElectricUtility Construction3300 OFFICE PARK DR, Brownstown, IN 47220$1,522,490
Blue Cross Blue ShieldInsurance300 EAST RANDOLPH STREET, Chicago, IL 60601-5099$1,407,069
Anixter INCUtility Construction1100 OLD STATE ROAD E, Mattion, IL 61938$1,155,922
K Wohltman Construction INCBuilding Construction18700 N US HWY 45, Effingham, IL 62401$841,648
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$41,276,963
Investment Income
$47,734
Other Revenue
$-218,416
Change in Net Assets
$2,409,722

Audited Revenue Reconciliation

Revenue per Audited Statements
$41,106,281
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$41,106,281
Total Revenue per Form 990
$41,106,281
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$38,321,689
Salaries, Compensation, and Employee Benefits$374,870
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$4,128,428
Other Expenses---$1,738,557
All Other Expenses---$1,099,754
Office Expenses---$403,781
Current Officers, Directors, Trustees, and Key Employees---$311,056
Other Salaries and Wages---$63,814
Fees for Services Legal---$57,174
Fees for Services Accounting---$17,000
Total Functional Expenses$0$0$0$38,696,559

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$38,696,559
Total Expenses per Audited Statements$38,696,559
Total Expenses per Form 990$38,696,559
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Tami PhillipsBoard MemberTami Is on the Board for United Utility Supply. the Cooperative Purchases Transformers, Wire, and Misc. Material From United Utility Supply.No$461,758
Justin ParcelBoard MemberJustin Sits as a Board Director for the Cooperative and as a Board Director for the Association of Illinois Electric Cooperatives. the Cooperative Makes Payments to the Association of Illinois Electric Cooperatives for Membership Dues, Training, and Other Services,No$347,637
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Advances$5,499,867
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
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The members of norris electric cooperative also receive services from the cooperative.”

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

“The members of the cooperative elect the members of the board annually. Board members have staggered terms and are re-elected over a three year cycle.”

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

“Certain decisions to be made by the board of directors must be approved by the members.”

Form 990, Part VI, Section B, Line 11B

“The board of the organization reviews all business matters prior to final submission.”

Form 990, Part VI, Section B, Line 12C

“This is discussed at each board meeting.”

Form 990, Part VI, Section B, Line 15

“The entire board used a compensation study of other manager's and the size of their co-op.”

Form 990, Part VI, Section C, Line 19

“Governing documents are available by mail to the public. The conflict of interest policy is available by request, and financial statements are available online and at the annual meeting.”

Filing and Contact Details

Filer

Filer Name
Norris Electric Cooperative
EIN
37-0442695
Phone
6187838765
Address
8543 N STATE HWY 130, NEWTON, IL 62448

Signing Officer

Name
Tami Phillips
Title
General Manager
Phone
6187838765
Signed
2020-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tami Phillips
Formed
1938
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
60
Volunteers
0

Preparer

Firm
London Witte Group LLC
Address
1776 N MERIDIAN ST STE 500, INDIANAPOLIS, IN 46202
Preparer
Earl L Ridlen
Phone
3176344747
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 4

“The cooperative has shown patronage retirements paid to its members in the other changes in equity section of this return (schedule d, part xi, line 8). This presentation is consistent with the presentation in prior returns as well as with proper accounting procedures for equity transactions. The cooperative has not shown any amount of patronage retirements on form 990, line 4 of section ix (statement of functional expenses). The reason that line 4 of section ix does not include any retirements from patronage is due to the fact that none of the amounts that were retired from the patronage of the cooperative were operating expenditures, but rather were merely a return of the cooperatives equity. The presentation shown by the cooperative was done in order to adequately supply all necessary information to the service as well as accurately disclose the activity of the cooperative for the year.”

FORM 990, PART XI, LINE 9:

“Patronage paid to members -1,985,507. Other comprehensive income 2,995,084. Change in memberships -1,510.”

Form 990, Part XIII, Line 2C

“There has been no change from prior year.”

Financial Statement Notes

PART X, LINE 2:

“The remc believes it is taking no uncertain tax positions.”

Form 990, Part XI, Line 9

“Total adjustments to net assets includes amounts that are part of retained earnings in the current year. The total is made up of comprehensive income of - $2,995,084, patronage paid to members of -$1,985,507 and change in memberships in the amount of - $1,510. See schedule o for more details on these equity transactions.”

Raw XML AppendixShowing 400 of 626 raw XML fields

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/TitleTxt1SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt12LINEMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt13LINEMAN
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IRS990/Form990PartVIISectionAGrp/TitleTxt15LINEMAN
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IRS990/NetAssetsOrFundBalancesEOYAmt074589915
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IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt08750
IRS990/NetUnrelatedBusTxblIncmAmt01116
IRS990/NetUnrlzdGainsLossesInvstAmt0-33576
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/TotalAmt0403781
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
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IRS990/OtherExpensesGrp/Desc0PURCHASED POWER
IRS990/OtherExpensesGrp/Desc1MAINTENANCE
IRS990/OtherExpensesGrp/Desc2ADMINISTRATIVE EXPENSE
IRS990/OtherExpensesGrp/Desc3OPERATIONS
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IRS990/ProgramServiceRevenueGrp/Desc3SMALL ELECTRIC HEAT-AE
IRS990/ProgramServiceRevenueGrp/Desc4ALL OTHER
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IRS990ScheduleD/EquipmentGrp/BookValueAmt088193293
IRS990ScheduleD/EquipmentGrp/DepreciationAmt041914199
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CUSTOMER ADVANCES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE REMC BELIEVES IT IS TAKING NO UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1TOTAL ADJUSTMENTS TO NET ASSETS INCLUDES AMOUNTS THAT ARE PART OF RETAINED EARNINGS IN THE CURRENT YEAR. THE TOTAL IS MADE UP OF COMPREHENSIVE INCOME OF - $2,995,084, PATRONAGE PAID TO MEMBERS OF -$1,985,507 AND CHANGE IN MEMBERSHIPS IN THE AMOUNT OF - $1,510. SEE SCHEDULE O FOR MORE DETAILS ON THESE EQUITY TRANSACTIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART XI, LINE 9

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$100,142,863
Liabilities
$25,552,948
Net assets
$74,589,915
Revenue
$41,106,281
Expenses
$38,696,559
Net income
$2,409,722
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$147$72.6$74.7$53.3$52.5$0.79
2023Detailed filing. Detailed filing data is available for this year.$143$67.5$75.3$51.6$50.1$1.53
2022Detailed filing. Detailed filing data is available for this year.$134$58.9$75.2$47.2$47.9$0.77
2021Detailed filing. Detailed filing data is available for this year.$123$46.5$76.2$43.8$41.7$2.10
2020Detailed filing. Detailed filing data is available for this year.$112$36.6$75.5$40.0$38.8$1.19
2019Detailed filing. Detailed filing data is available for this year.$100$25.6$74.6$41.1$38.7$2.41
2018Detailed filing. Detailed filing data is available for this year.$95.0$23.8$71.2$49.3$45.1$4.19
2017Detailed filing. Detailed filing data is available for this year.$87.6$18.1$69.5$46.9$43.7$3.25
2016Detailed filing. Detailed filing data is available for this year.$84.9$17.3$67.6$44.5$42.2$2.34
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)12 • $100M-$250M nonprofits