Civic Intelligence

Nobles Cooperative Electric

990 • Fiscal year 2012 • EIN 41-0443755

Jan 01, 2012 to Dec 31, 2012 • Filed on Aug 28, 2013

Organization ProfileWWW.NOBLESCE.COOP
PO Box 78856187
Siviq Scores

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

Liabilities / Assets

48th percentile

0.53x

Higher debt load relative to assets than 48% of similar nonprofits.

2012 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2012

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2012

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2012

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2012

Asset Growth

59th percentile

4.5%

Faster asset growth than 59% of similar nonprofits.

2012 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2011 to 2012

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$41,870,755

Up $1,810,347 (+4.5%) from 2011

Net Assets

Up

$19,471,546

Up $898,192 (+4.8%) from 2011

Liabilities

Up

$22,399,209

Up $912,155 (+4.2%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$14,806,914

Up $757,578 (+5.4%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth59th percentile

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

$80M$60M$40M$20M$0Assets 2010: $37,788,058Liabilities 2010: $19,866,151Net Assets 2010: $17,921,9072010Assets 2011: $40,060,408Liabilities 2011: $21,487,054Net Assets 2011: $18,573,3542011Assets 2012: $41,870,755Liabilities 2012: $22,399,209Net Assets 2012: $19,471,5462012Assets 2013: $44,827,847Liabilities 2013: $24,027,918Net Assets 2013: $20,799,9292013Assets 2014: $46,119,824Liabilities 2014: $23,919,390Net Assets 2014: $22,200,4342014Assets 2015: $53,972,328Liabilities 2015: $30,995,775Net Assets 2015: $22,976,5532015Assets 2016: $55,612,372Liabilities 2016: $30,951,167Net Assets 2016: $24,661,2052016Assets 2017: $58,388,905Liabilities 2017: $31,754,704Net Assets 2017: $26,634,2012017Assets 2018: $58,329,105Liabilities 2018: $30,381,816Net Assets 2018: $27,947,2892018Assets 2019: $60,824,253Liabilities 2019: $31,611,827Net Assets 2019: $29,212,4262019Assets 2020: $63,710,475Liabilities 2020: $33,628,137Net Assets 2020: $30,082,3382020Assets 2021: $66,930,891Liabilities 2021: $36,000,127Net Assets 2021: $30,930,7642021Assets 2022: $71,903,264Liabilities 2022: $39,693,390Net Assets 2022: $32,209,8742022Assets 2023: $72,464,886Liabilities 2023: $39,425,339Net Assets 2023: $33,039,5472023Assets 2024: $72,484,464Liabilities 2024: $38,822,239Net Assets 2024: $33,662,2252024

Highlighted filing

2012

Assets$41,870,755
Liabilities$22,399,209
Net Assets$19,471,546
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0-$10MExpenses 2010: $12,393,7062010Expenses 2011: $14,049,3362011Expenses 2012: $14,806,9142012Revenue 2013: $16,721,157Expenses 2013: $16,563,528Net Income 2013: $157,6292013Revenue 2014: $17,368,443Expenses 2014: $17,175,800Net Income 2014: $192,6432014Revenue 2015: $17,727,771Expenses 2015: $17,512,159Net Income 2015: $215,6122015Revenue 2016: $20,689,061Expenses 2016: $20,689,061Net Income 2016: $02016Revenue 2017: $21,881,830Expenses 2017: $21,546,163Net Income 2017: $335,6672017Revenue 2018: $21,679,205Expenses 2018: $21,414,120Net Income 2018: $265,0852018Revenue 2019: $22,053,939Expenses 2019: $21,922,002Net Income 2019: $131,9372019Revenue 2020: $20,443,055Expenses 2020: $20,545,431Net Income 2020: -$102,3762020Revenue 2021: $22,419,129Expenses 2021: $24,321,656Net Income 2021: -$1,902,5272021Revenue 2022: $23,725,160Expenses 2022: $23,659,088Net Income 2022: $66,0722022Revenue 2023: $23,131,119Expenses 2023: $22,742,483Net Income 2023: $388,6362023Revenue 2024: $23,526,248Expenses 2024: $23,107,188Net Income 2024: $419,0602024

Highlighted filing

2012

Revenue-
Expenses$14,806,914
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Aug 28, 2013
Return Version
2012v2.1
Gross Receipts
$15,131,851
Mission and Program Overview

Mission

To maintain our electrical distribution system and provide electricity to our members in rural areas and communities in our service territory.

Filing and Contact Details

Filer

EIN
41-0443755
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation1THE COOPERATIVE ADOPTED THE PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION TOPIC ASC 740-10 (PREVIOUSLY FINANCIAL INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES), ON JANUARY 1, 2009. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE FINANCIAL STATEMENTS. AS OF BOTH THE DATE OF ADOPTION, AND AS OF DECEMBER 31, 2012, THERE WAS NO UNRECOGNIZED TAX ACCRUAL. THE COOPERATIVE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IF INCURRED. GENERALLY, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL OR STATE TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2009.
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IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs10
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg144287
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs10
IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0RICHARD BURUD, GENERAL MANAGER, IS PAID BY FEDERATED RURAL ELECTRIC ASSOCIATION. FEDERATED RURAL ELECTRIC ASSOCIATION IS REIMBURSED ACCORDING TO A SHARED MANAGER AGREEMENT BY NOBLES COOPERATIVE ELECTRIC FOR 50% OF THE GENERAL MANAGER'S TOTAL COMPENSATION. $136,157 WAS REIMBURSED BY NOBLES COOPERATIVE ELECTRIC IN 2012 UNDER THIS AGREEMENT. IN 2011 50% OF THE GENERAL MANAGER'S ACTUAL COMPENSATION AND BENEFITS IS REPORTED ON FORM 990 PART VII AND SCHEDULE J ACCORDINGLY. THE DIFFERENCE BETWEEN THE TWO IS DUE TO TIMING DIFFERENCES.
IRS990ScheduleJ/Form990ScheduleJPartIII/Identifier0SUPPLEMENTAL INFORMATION
IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference0PART III
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson0RICHARD G BURUD
IRS990ScheduleJ/Form990ScheduleJPartII/NamePerson1BRADLEY J SPARTZ
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg0581
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsFilingOrg124224
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/NontaxableBenefitsRelatedOrgs10
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationFilingOrg1743
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/OtherCompensationRelatedOrgs10
IRS990ScheduleJ/Form990ScheduleJPartII/Title0GENERAL MANAGER
IRS990ScheduleJ/Form990ScheduleJPartII/Title1OFFICE MANAGER
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg098863
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationFilingOrg1160526
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs00
IRS990ScheduleJ/Form990ScheduleJPartII/TotalCompensationRelatedOrgs10
IRS990/ScheduleJRequired01
IRS990ScheduleJ/SeverancePayment00
IRS990ScheduleJ/SupplementalNonqualRetirePlan00
IRS990ScheduleL/Form990ScheduleLPartIV/AmountOfTransaction08073853
IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction0PURCHASE OF WHOLESALE POWER
IRS990ScheduleL/Form990ScheduleLPartIV/NameOfInterestedPerson/NameBusiness/BusinessNameLine10GREAT RIVER ENERGY
IRS990ScheduleL/Form990ScheduleLPartIV/Relationship0DIRECTOR HENRY HANSON IS A BOARD DIRECTOR FOR GREAT RIVER ENERGY
IRS990ScheduleL/Form990ScheduleLPartIV/SharingOfRevenues00
IRS990ScheduleO/GeneralExplanation/Explanation0NOBLES COOPERATIVE ELECTRIC SHARES A GENERAL MANAGER, RICHARD BURUD, WITH FEDERATED RURAL ELECTRIC ASSOCIATION OF JACKSON, MINNESOTA. RICHARD BURUD IS AN EMPLOYEE OF FEDERATED RURAL ELECTRIC ASSOCIATION. NOBLES COOPERATIVE ELECTRIC HAS CONTRACTED WITH FEDERATED RURAL ELECTRIC ASSOCIATION FOR ONE-HALF OF RICHARD BURUD'S SERVICES.
IRS990ScheduleO/GeneralExplanation/Explanation1NOBLES COOPERATIVE ELECTRIC IS A RURAL ELECTRIC COOPERATIVE OWNED BY THE MEMBERS SERVED.
IRS990ScheduleO/GeneralExplanation/Explanation2NOBLES COOPERATIVE ELECTRIC HAS ONE CLASS OF MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/GeneralExplanation/Explanation3THERE ARE NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD.
IRS990ScheduleO/GeneralExplanation/Explanation4THE FORM 990 IS REVIEWED AT A DIRECTOR BOARD MEETING PRIOR TO BEING FILED.
IRS990ScheduleO/GeneralExplanation/Explanation5UPON REVIEWING OR DISCOVERING ANY INFORMATION OR FACT THAT COULD IMPACT A DIRECTOR'S COMPLIANCE WITH THIS POLICY, THE BOARD MUST: 1 - PROVIDE THE DIRECTOR AN OPPORTUNITY TO COMMENT ORALLY AND IN WRITING REGARDING THE INFORMATION OR FACT, AND AN OPPORTUNITY TO BE REPRESENTED BY LEGAL COUNSEL; AND 2 - DETERMINE WHETHER THE DIRECTOR COMPLIES WITH THIS POLICY. IF THE BOARD DETERMINES THAT A DIRECTOR DOES NOT COMPLY WITH THIS POLICY, THEN: 1 - THE BOARD MUST PROVIDE THE DIRECTOR AN OPPORTUNITY TO COMPLY WITH THIS POLICY WITHIN THIRTY DAYS AND; 2 - IF THE DIRECTOR DOES NOT COMPLY WITH THIS POLICY WITHIN THIRTY DAYS, THEN, AS ALLOWED BY LAW, THE BOARD MUST SANCTION, DISQUALIFY, AND/OR REMOVE THE DIRECTOR. UPON RECEIVING OR DISCOVERING ANY INFORMATION OR FACT THAT COULD IMPACT ANY OTHER OFFICIAL'S COMPLIANCE WITH THIS POLICY, THE BOARD MUST ACT AS APPROPRIATE OR AUTHORIZE THE MANAGER TO ACT AS APPROPRIATE.
IRS990ScheduleO/GeneralExplanation/Explanation6NOBLES COOPERATIVE ELECTRIC AND FEDERATED RURAL ELECTRIC CURRENTLY PARTICIPATE IN A MANAGEMENT SERVICES AGREEMENT FOR THEIR GENERAL MANAGER POSITION. A MANAGEMENT LIAISON COMMITTEE IS IN PLACE. THIS COMMITTEE CONSISTS OF THREE NOBLES DIRECTORS AND THREE FEDERATED DIRECTORS, APPOINTED BY THEIR RESPECTIVE BOARDS. THE COMMITTEE MEETS AS OFTEN AS NECESSARY TO REVIEW AND TO MAKE RECOMMENDATIONS TO THE COOPERATIVES' BOARDS OF DIRECTORS REGARDING THE GENERAL MANAGER'S COMPENSATION AND BENEFITS PACKAGE AND ANY OTHER ISSUES OR PROBLEMS THAT MAY ARISE IN CONNECTION WITH THE AGREEMENT. THE PROCESS FOR THE GENERAL MANAGER WAS UNDERTAKEN IN 2012.
IRS990ScheduleO/GeneralExplanation/Explanation7THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation8INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER AND OFFICE MANAGER. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR.
IRS990ScheduleO/GeneralExplanation/Explanation9ALLOCATION OF 2012 MARGINS 1,351,239. RETIREMENT OF CAPITAL CREDITS -597,525. TRANSFER TO UNALLOCATED RESERVE -143,607. INCREASE IN OTHER EQUITIES 167,757.
IRS990ScheduleO/GeneralExplanation/Explanation10THE COOPERATIVE HAS INTERPRETED THE INSTRUCTIONS TO PART IX, LINE 4, TO MEAN PATRONAGE CAPITAL ALLOCATED FOR THE YEAR, RATHER THAN PATRONAGE CAPITAL RETIRED. THIS IS CONSISTENT WITH THE BYLAWS OF THE COOPERATIVE.
IRS990ScheduleO/GeneralExplanation/Explanation11THE LABOR, PENSION AND PAYROLL TAXES REPORTED ON LINES 6-10 ARE INCLUDED IN DISTRIBUTION EXPENSE, ADMINISTRATIVE & GENERAL EXPENSE AND CUSTOMER EXPENSE. THEREFORE, LABOR, PENSION AND PAYROLL TAXES ARE SHOWN AS A REDUCTION TO OTHER EXPENSES ON LINE 24E.
IRS990ScheduleO/GeneralExplanation/Identifier0CHANGES IN NET ASSETS OR FUND BALANCES:
IRS990ScheduleO/GeneralExplanation/Identifier1BENEFITS PAID TO OR FOR MEMBERS:
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VI, SECTION A, LINE 8B

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$41,870,755
Liabilities
$22,399,209
Net assets
$19,471,546
Revenue
-
Expenses
$14,806,914
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$72.5$38.8$33.7$23.5$23.1$0.42
2023Detailed filing. Detailed filing data is available for this year.$72.5$39.4$33.0$23.1$22.7$0.39
2022Detailed filing. Detailed filing data is available for this year.$71.9$39.7$32.2$23.7$23.7$0.07
2021Detailed filing. Detailed filing data is available for this year.$66.9$36.0$30.9$22.4$24.3$1.90
2020Detailed filing. Detailed filing data is available for this year.$63.7$33.6$30.1$20.4$20.5$0.10
2019Detailed filing. Detailed filing data is available for this year.$60.8$31.6$29.2$22.1$21.9$0.13
2018Detailed filing. Detailed filing data is available for this year.$58.3$30.4$27.9$21.7$21.4$0.27
2017Detailed filing. Detailed filing data is available for this year.$58.4$31.8$26.6$21.9$21.5$0.34
2016Detailed filing. Detailed filing data is available for this year.$55.6$31.0$24.7$20.7$20.7$0.00
2015Detailed filing. Detailed filing data is available for this year.$54.0$31.0$23.0$17.7$17.5$0.22
2014Detailed filing. Detailed filing data is available for this year.$46.1$23.9$22.2$17.4$17.2$0.19
2013Detailed filing. Detailed filing data is available for this year.$44.8$24.0$20.8$16.7$16.6$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.9$22.4$19.5$14.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.1$21.5$18.6$14.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.8$19.9$17.9$12.4