Civic Intelligence

Midwest Energy Cooperative

990 • Fiscal year 2014 • EIN 38-3386126

Jan 01, 2014 to Dec 31, 2014 • Filed on Jul 24, 2015

Organization ProfileWWW.TEAMMIDWEST.COM

View Organization Page

PO Box 127 901 E State StCassopolis, MI 49031

(269) 445-1000

Siviq Scores

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

Liabilities / Assets

90th percentile

0.71x

Higher debt load relative to assets than 90% of similar nonprofits.

2014 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

52nd percentile

1.27x

Higher debt load relative to revenue than 52% of similar nonprofits.

2014 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2014

Net Margin

70th percentile

3.1%

Higher net margin than 70% of similar nonprofits.

2014 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

78th percentile

$360,778

Higher top officer pay than 78% of similar nonprofits.

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

2014 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2014

Asset Growth

18th percentile

0.6%

Faster asset growth than 18% of similar nonprofits.

2014 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

39th percentile

3.4%

Faster revenue growth than 39% of similar nonprofits.

2014 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$143,307,663

Up $880,499 (+0.6%) from 2013

Net Assets

Down

$42,002,776

Down $1,826,933 (-4.2%) from 2013

Liabilities

Up

$101,304,887

Up $2,707,432 (+2.7%) from 2013

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin70th percentile

Revenue

Up

$79,464,110

Up $2,641,843 (+3.4%) from 2013

Expenses

Up

$77,017,182

Up $3,958,744 (+5.4%) from 2013

Net Income

Down

$2,446,928

Down $1,316,901 (-35%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$600M$400M$200M$0Assets 2010: $126,925,953Liabilities 2010: $91,990,685Net Assets 2010: $34,935,2682010Assets 2011: $127,682,544Liabilities 2011: $94,589,759Net Assets 2011: $33,092,7852011Assets 2012: $134,993,772Liabilities 2012: $99,663,252Net Assets 2012: $35,330,5202012Assets 2013: $142,427,164Liabilities 2013: $98,597,455Net Assets 2013: $43,829,7092013Assets 2014: $143,307,663Liabilities 2014: $101,304,887Net Assets 2014: $42,002,7762014Assets 2015: $162,835,346Liabilities 2015: $113,857,111Net Assets 2015: $48,978,2352015Assets 2016: $201,018,832Liabilities 2016: $148,050,189Net Assets 2016: $52,968,6432016Assets 2017: $242,321,679Liabilities 2017: $186,122,325Net Assets 2017: $56,199,3542017Assets 2018: $267,956,164Liabilities 2018: $206,699,861Net Assets 2018: $61,256,3032018Assets 2019: $273,954,360Liabilities 2019: $208,378,139Net Assets 2019: $65,576,2212019Assets 2020: $296,468,221Liabilities 2020: $225,923,338Net Assets 2020: $70,544,8832020Assets 2021: $334,250,567Liabilities 2021: $246,160,758Net Assets 2021: $88,089,8092021Assets 2022: $400,689,871Liabilities 2022: $293,301,555Net Assets 2022: $107,388,3162022Assets 2023: $480,967,655Liabilities 2023: $345,509,162Net Assets 2023: $135,458,4932023Assets 2024: $592,487,549Liabilities 2024: $418,600,189Net Assets 2024: $173,887,3602024

Highlighted filing

2014

Assets$143,307,663
Liabilities$101,304,887
Net Assets$42,002,776
Open 2014 Filing

Operations Trend

Revenue Growth39th percentile

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

$200M$150M$100M$50M$0Expenses 2010: $65,429,9972010Expenses 2011: $67,937,8272011Expenses 2012: $72,555,5332012Revenue 2013: $76,822,267Expenses 2013: $73,058,438Net Income 2013: $3,763,8292013Revenue 2014: $79,464,110Expenses 2014: $77,017,182Net Income 2014: $2,446,9282014Revenue 2015: $80,637,368Expenses 2015: $80,637,368Net Income 2015: $02015Revenue 2016: $87,182,218Expenses 2016: $87,182,218Net Income 2016: $02016Revenue 2017: $90,511,003Expenses 2017: $90,511,003Net Income 2017: $02017Revenue 2018: $97,253,649Expenses 2018: $96,315,846Net Income 2018: $937,8032018Revenue 2019: $101,534,792Expenses 2019: $100,771,187Net Income 2019: $763,6052019Revenue 2020: $105,303,622Expenses 2020: $104,429,736Net Income 2020: $873,8862020Revenue 2021: $119,294,620Expenses 2021: $118,245,854Net Income 2021: $1,048,7662021Revenue 2022: $134,375,062Expenses 2022: $133,311,610Net Income 2022: $1,063,4522022Revenue 2023: $146,613,441Expenses 2023: $145,147,935Net Income 2023: $1,465,5062023Revenue 2024: $168,084,071Expenses 2024: $167,152,597Net Income 2024: $931,4742024

Highlighted filing

2014

Revenue$79,464,110
Expenses$77,017,182
Net Income$2,446,928
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jul 24, 2015
Return Version
2014v5.0
Gross Receipts
$79,498,850
Mission and Program Overview

Mission

Provide electric power to members

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$107,822,769$111,062,574▲ $3,239,805
Rtn Earn Endowment Incm Other Fnds$43,829,709$42,002,776▼ $1,826,933
Investments Other Securities$22,848,016$24,681,120▲ $1,833,104
Accounts Receivable$3,988,240$3,526,968▼ $461,272
Cash and Non-Interest-Bearing Accounts$3,734,959$1,836,489▼ $1,898,470
Inventories for Sale or Use$1,188,458$1,045,791▼ $142,667
Prepaid Expenses and Deferred Charges$1,458,097$539,539▼ $918,558
Other Notes and Loans Receivable, Net$198,847$188,892▼ $9,955
Total Assets$142,427,164$143,307,663▲ $880,499
Other Assets Total$1,187,778$426,290▼ $761,488
Liabilities
Mortgage Notes Payable Secured by Investment Property$84,621,776$80,082,346▼ $4,539,430
Accounts Payable and Accrued Expenses$13,290,266$16,168,541▲ $2,878,275
Other Liabilities$382,188$5,000,000▲ $4,617,812
Deferred Revenue$303,225$54,000▼ $249,225
Total Liabilities$98,597,455$101,304,887▲ $2,707,432
Net Assets / Fund Balance
Total Net Assets Fund Balance$43,829,709$42,002,776▼ $1,826,933
Total Liabilities and Net Assets / Fund Balance$142,427,164$143,307,663▲ $880,499

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$111,062,574$54,657,566$165,720,140
Other Securities$98,889--
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert HanceCEOFT$275,552$85,226$360,778
John MinerCFOFT$143,408$56,273$199,681
Terry RubenthalerVP EngineeriFT$131,669$53,839$185,508
Terry RubenthalerVP Engineering-$131,669$53,839$185,508
Gregory HodgsonLineworkerFT$123,135$45,337$168,472
Kurt SchantzLineworkerFT$120,368$42,327$162,695
Mike MillerLineman in CFT$116,595$45,716$162,311
Mike MillerLineman in Charge-$116,595$45,716$162,311
Jim HaasLineworker-$115,212$45,000$160,212
Kenneth SwopeVice ChairmaPT$23,200$4$23,204
Clarence BarthChairman-$15,950$13$15,963
Ronald ArmstrongDirector-$13,700$13$13,713
Colyne SorsbySecretary-$12,700$6$12,706
James DickersonDirector-$9,700$13$9,713
Harry GentzDirector-$9,700$13$9,713
John GreenTreasurer-$7,700$13$7,713
Ben RussellDirector-$5,700$10$5,710
Fred TurkDirector-$4,200$9$4,209
Jerry CampbellDirectorFT$1,500$2$1,502

Highest Paid Contractors

ContractorServicesLocationCompensation
Green Leaf Tree ServiceTree Clearing5280 ENGLE RD, A-4273 BLUE STAR HIGHWAY, Middleville, MI 49333$2,188,296
Western Tel ComContractorPO BOX 1317, Holland, MI 49422$1,029,161
Pulse Broadband LLCContractor18044 SHEPHERD VALLEY ROAD, Wildwood, MO 63038$625,752
Hydaker-wheatlake CoContractor1435 RELIABLE PARKWAY, Chicago, IL 60686$497,368
Dykema GossettLegal Services400 RENAISSANCE CENTER, Detroit, MI 48243$400,876
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$76,562,378
Investment Income
$2,039,810
Other Revenue
$861,922
Change in Net Assets
$2,446,928

Audited Revenue Reconciliation

Revenue per Audited Statements
$79,464,110
Revenue Not Reported on Form 990
$-49,586
Total Revenue per Audited Statements
$79,414,524
Total Revenue per Form 990
$79,464,110
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$75,349,703
Salaries, Compensation, and Employee Benefits$1,504,303
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$5,662,061
Depreciation Depletion---$4,866,116
Interest---$3,769,949
Other Expenses---$1,909,367
Other Salaries and Wages---$606,979
Current Officers, Directors, Trustees, and Key Employees---$523,010
Other Employee Benefits---$374,314
Benefits to Members---$163,176
Total Functional Expenses$0$0$0$77,017,182

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$77,017,182
Expenses per Audited Statements$76,854,006
Total Expenses per Audited Statements$76,804,420
Expenses Not Reported on Financial Statements$163,176
Other Expense Adjustments$163,176
Expenses Not Reported on Form 990$-49,586
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
Clarence BarthChairmanOf SupplierNo$48,719,495
Ronald ArmstrongBoard MemberBoard Member ofNo$48,719,495
Robert HanceCEOBoard MemberNo$1,714,336
Kenneth SwopeVice ChairmanPower SupplierNo$1,412,716
Joshua HanceSon of CEOEmployee of CoopNo$58,542
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$5,000,000
Pscr Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Cooperative has members as its owners.”

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

“Members elect the board of directors by region.”

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

“Reviewed by cfo, then presented to the board of directors.”

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

“Policy enforced by review of coop records and reporting disclosures.”

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

“Amount of ceo compensation is determined by board policy number b-04. The amount of compensation is calculated using comparable market data, both industry and non-industry specific.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available on the cooperative website, as well as on the websites of other organizations.”

Filing and Contact Details

Filer

Filer Name
Midwest Energy Cooperative
EIN
38-3386126
Phone
2694451000
Address
PO BOX 127 901 E STATE ST, CASSOPOLIS, MI 49031

Signing Officer

Name
John Miner
Title
CFO
Phone
2694451000
Signed
2015-07-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Hance
Formed
1998
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
113

Preparer

Firm
HARRIS GROUP CPA'S
Address
731 S GARFIELD AVE, TRAVERSE CITY, MI 49686
Preparer
Ronald G Harris CPA
Phone
2319468930
Supplemental Narrative

Additional Explanations

Form 990, Part XI

“Line 9 includes an adjustment to other comprehensive income for 4,273,861 for an adjstment to equity for an accrued pension liability following an actuarial valuation of the post-retirement benefits obligation”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Revenue netted against expense on the financial statements -49,586”

Schedule D, Page 4, Part XII, Line 2D

“Revenue netted against expense on the financial statements -49,586”

Schedule D, Page 4, Part XII, Line 4B

“Patronage capital retirements not deducted on financials 163,176”

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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/TitleTxt0VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt12VP ENGINEERI
IRS990/Form990PartVIISectionAGrp/TitleTxt13LINEWORKER
IRS990/Form990PartVIISectionAGrp/TitleTxt14LINEWORKER
IRS990/Form990PartVIISectionAGrp/TitleTxt15LINEMAN IN C
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt0111062574
IRS990/LandBldgEquipCostOrOtherBssAmt0165720140
IRS990/LegalDomicileStateCd0MI
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0true
IRS990/MaterialDiversionOrMisuseInd0false
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IRS990/MembersOrStockholdersInd0true
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IRS990/MinutesOfCommitteesInd0true
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IRS990/OtherExpensesGrp/Desc1DISTRIBUTIONS - MAINTENAN
IRS990/OtherExpensesGrp/Desc2CUSTOMER ACCOUNTS
IRS990/OtherExpensesGrp/Desc3TAXES - PROPERTY
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IRS990/OtherExpensesGrp/TotalAmt15563766
IRS990/OtherExpensesGrp/TotalAmt22726357
IRS990/OtherExpensesGrp/TotalAmt31909367
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IRS990/OtherRevenueMiscGrp/Desc1GAIN ON DISPOSAL OF ASSETS
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IRS990/PoliciesReferenceChaptersInd0true
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IRS990/PrincipalOfficerNm0ROBERT HANCE
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0PATRONAGE CAPITAL - WVPA
IRS990ScheduleD/OtherSecuritiesGrp/Desc1MIDWEST ENERGY, INC.
IRS990ScheduleD/OtherSecuritiesGrp/Desc2WOLVERINE POWER SUPPLY COOPERATIVE
IRS990ScheduleD/OtherSecuritiesGrp/Desc3CAPITAL TERM CERTIFICATES
IRS990ScheduleD/OtherSecuritiesGrp/Desc4PATRONAGE CAPITAL - BUCKEYE POWER
IRS990ScheduleD/OtherSecuritiesGrp/Desc5RESCO
IRS990ScheduleD/OtherSecuritiesGrp/Desc6PATRONAGE CAPITAL - CFC
IRS990ScheduleD/OtherSecuritiesGrp/Desc7OTHER
IRS990ScheduleD/OtherSecuritiesGrp/Desc8FEDERATED RURAL ELECTRIC INS
IRS990ScheduleD/OtherSecuritiesGrp/Desc9PATRONAGE CAPITAL - NISC
IRS990ScheduleD/OtherSecuritiesGrp/Desc10BUCKEYE POWER - MEMBERSHIP
IRS990ScheduleD/OtherSecuritiesGrp/Desc11MEMBER CAPITAL SECURITIES - CFC
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd5C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd6C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd7C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd8C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd9C
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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd11C
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IRS990ScheduleD/RevenueSubtotalAmt079464110
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0REVENUE NETTED AGAINST EXPENSE ON THE FINANCIAL STATEMENTS -49,586
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1REVENUE NETTED AGAINST EXPENSE ON THE FINANCIAL STATEMENTS -49,586
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2PATRONAGE CAPITAL RETIREMENTS NOT DEDUCTED ON FINANCIALS 163,176
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$143,307,663
Liabilities
$101,304,887
Net assets
$42,002,776
Revenue
$79,464,110
Expenses
$77,017,182
Net income
$2,446,928
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$592$419$174$168$167$0.93
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$481$346$135$147$145$1.47
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$401$293$107$134$133$1.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$334$246$88.1$119$118$1.05
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$296$226$70.5$105$104$0.87
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$274$208$65.6$102$101$0.76
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$268$207$61.3$97.3$96.3$0.94
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$242$186$56.2$90.5$90.5$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$201$148$53.0$87.2$87.2$0.00
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$163$114$49.0$80.6$80.6$0.00
2014Detailed filing. Detailed filing data is available for this year.$143$101$42.0$79.5$77.0$2.45
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$142$98.6$43.8$76.8$73.1$3.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$135$99.7$35.3$72.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$128$94.6$33.1$67.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$127$92.0$34.9$65.4