Civic Intelligence

Nobles Cooperative Electric

990 • Fiscal year 2014 • EIN 41-0443755

Jan 01, 2014 to Dec 31, 2014 • Filed on Jul 15, 2015

Organization ProfileWWW.NOBLESCE.COOP
PO Box 788Worthington, MN 56187

(507) 372-7331

Siviq Scores

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

Liabilities / Assets

46th percentile

0.52x

Higher debt load relative to assets than 46% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

46th percentile

1.38x

Higher debt load relative to revenue than 46% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2014

Net Margin

46th percentile

1.1%

Higher net margin than 46% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

17th percentile

$106,640

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2014

Asset Growth

56th percentile

2.9%

Faster asset growth than 56% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

55th percentile

3.9%

Faster revenue growth than 55% of similar nonprofits.

2014 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$46,119,824

Up $1,291,977 (+2.9%) from 2013

Net Assets

Up

$22,200,434

Up $1,400,505 (+6.7%) from 2013

Liabilities

Down

$23,919,390

Down $108,528 (-0.5%) from 2013

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin46th percentile

Revenue

Up

$17,368,443

Up $647,286 (+3.9%) from 2013

Expenses

Up

$17,175,800

Up $612,272 (+3.7%) from 2013

Net Income

Up

$192,643

Up $35,014 (+22%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth56th 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

2014

Assets$46,119,824
Liabilities$23,919,390
Net Assets$22,200,434
Open 2014 Filing

Operations Trend

Revenue Growth55th percentile

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

2014

Revenue$17,368,443
Expenses$17,175,800
Net Income$192,643
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jul 15, 2015
Return Version
2014v5.0
Gross Receipts
$17,648,835
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.

To maintain our dist. System and provide electricity to our members in our service territory.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$31,813,004$33,437,519▲ $1,624,515
Rtn Earn Endowment Incm Other Fnds$17,999,899$19,207,062▲ $1,207,163
Investments Program Related$5,637,238$6,247,084▲ $609,846
Pd in Cap Srpls Land Bldg Eqp Fund$2,800,030$2,993,372▲ $193,342
Savings and Temporary Cash Investments$2,993,910$2,715,079▼ $278,831
Accounts Receivable$1,926,658$1,805,723▼ $120,935
Prepaid Expenses and Deferred Charges$827,434$748,791▼ $78,643
Inventories for Sale or Use$621,274$553,720▼ $67,554
Investments Other Securities$318,789$291,423▼ $27,366
Pledges and Grants Receivable$627,713$264,790▼ $362,923
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$44,827,847$46,119,824▲ $1,291,977
Other Assets Total$61,827$55,695▼ $6,132
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,872,477$20,560,014▼ $312,463
Accounts Payable and Accrued Expenses$2,699,602$2,478,642▼ $220,960
Other Liabilities$452,039$876,965▲ $424,926
Escrow Account Liability$3,800$3,769▼ $31
Total Liabilities$24,027,918$23,919,390▼ $108,528
Net Assets / Fund Balance
Total Net Assets Fund Balance$20,799,929$22,200,434▲ $1,400,505
Total Liabilities and Net Assets / Fund Balance$44,827,847$46,119,824▲ $1,291,977

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$31,201,528$13,757,035$44,958,563
Other Land Buildings$1,687,328$1,232,393$2,919,721
Buildings$438,262$515,844$954,106
Land$110,401-$110,401
Investment Program Related Org$17,692--
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard G BurudGeneral ManagerPT$106,473$167$106,640
Lee a YorkVice PresidentPT$21,817-$21,817
David D ClarkeSecretary/treasurerPT$21,235-$21,235
Cindy M HokenessDirectorPT$14,001-$14,001
Gary E SieveDirectorPT$12,806-$12,806
Ronald J SchwartauPresidentPT$12,091-$12,091
Dick R RuiterDirectorPT$10,458-$10,458
Brucer BarberDirectorPT$9,511-$9,511
Richard L GreveDirector (until May, 2014)PT$4,932-$4,932

Highest Paid Contractors

ContractorServicesLocationCompensation
Loosbrock Digging Service INCUnderground Line BoringPO BOX 98, Wilmont, MN 56185$633,793
Federated Rural Electric AssociationContracted Management Services77100 US HWY 71, Jackson, MN 56143$237,911
Key Contracting INCPower Line Construction245 7TH AVE, West Fargo, ND 58078$168,859
B&b Transformer INCTransformer Re-tanks, Repairs2850 22TH ST W, Farmington, MN 55024$130,976
Carr's Tree Service INCTree TrimmingPO BOX 250, Ottertail, MN 56571-0250$125,229
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$17,009,413
Investment Income
$297,990
Other Revenue
$61,040
Change in Net Assets
$192,643

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,349,972
Revenue Not Reported on Financial Statements
$18,471
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$18,471
Total Revenue per Audited Statements
$17,349,972
Total Revenue per Form 990
$17,368,443
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,417,440
Salaries, Compensation, and Employee Benefits$1,908,762
Grants and Similar Amounts Paid$3,450
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$1,846,148
Other Salaries and Wages---$1,332,144
Depreciation Depletion---$1,291,583
Interest---$889,993
Other Expenses---$698,043
Pension Plan Contributions---$262,198
Current Officers, Directors, Trustees, and Key Employees---$213,490
Payroll Taxes---$100,930
Grants to Domestic Orgs---$3,450
All Other Expenses---$-378,632
Total Functional Expenses$0$0$0$17,175,800

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$17,175,800
Expenses per Audited Statements$15,311,181
Total Expenses per Audited Statements$15,311,181
Expenses Not Reported on Financial Statements$1,864,619
Other Expense Adjustments$1,864,619
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
-Director Lee York Is a Board Director for Great River EnergyPurchase of Wholesale PowerNo$9,941,014
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Credits$556,177
Accumulated Provision for Pension Benefits$295,930
Customer Deposits$23,770
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 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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Richard 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. $106,639 was reimbursed by nobles cooperative electric in 2014 under this agreement.”

Form 990, Part VI, Section A, Line 6

“Nobles cooperative electric is a rural electric cooperative owned by the members served.”

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

“Nobles cooperative electric has one class of members who may elect one or more members of the governing body.”

Form 990, Part VI, Section A, Line 8B

“There are no committees with broad authority to act on behalf of the governing board.”

Form 990, Part VI, Section B, Line 11

“The form 990 is reviewed at a director board meeting prior to being filed.”

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

“Upon 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.”

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

“Nobles 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 2014.”

Form 990, Part VI, Section C, Line 19

“The organization makes these documents available upon request.”

FORM 990, PART VII, COLUMN F, OTHER COMPENSATION:

“Included in other compensation is the estimated current year increase or decrease in the actuarial value of the defined benefit plan for the general 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.”

Filing and Contact Details

Filer

Filer Name
Nobles Cooperative Electric
EIN
41-0443755
Phone
5073727331
Address
PO BOX 788, WORTHINGTON, MN 56187

Signing Officer

Name
Richard Burud
Title
General Manager
Phone
5073727331
Signed
2015-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Burud
Formed
1936
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
6
Employees
22
Volunteers
0

Preparer

Firm
Eide Bailly Llp
Address
200 EAST 10TH ST PO BOX 5125, SIOUX FALLS, SD 57117-5125
Preparer
Laurie Hanson
Phone
6053391999
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Allocation of 2013 margins 1,846,148. Retirement of capital credits -673,999. Transfer to unallocated reserve -157,629. Increase in other equities 193,342.”

FORM 990, PART XII, LINE 2C:

“The entire board of directors is responsible for the selection and oversight of the independent public accountant.”

Form 990, Part IX, Line 4 Statement of Functional Expenses,

“Benefits paid to or for members: the 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.”

FORM 990, PART IX, LINE 24E, STATEMENT OF FUNCTIONAL EXPENSES:

“The 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.”

Financial Statement Notes

PART IV, LINE 2B:

“Nobles cooperative electric collects trust contributions from its members on a monthly basis by rounding up electric bills to even dollar amounts for members who wish to participate in the program. These monies are held in a liability account until the monies are paid to the nobles-murrary rural electric trust.”

PART X, LINE 2:

“The cooperative is exempt from income taxes under section 501(c)(12) of the internal revenue code. The cooperative is subject to income tax on its unrelated business income (ubi) and filed annually on federal form 990t. A provision for income taxes on unrelated business income of $18,472 and $14,960 is included with non-operating margins for the years ended december 31, 2014 and 2013, respectively. The cooperative has evaluated whether it was necessary to recognize any benefit from uncertain tax positions in currently open tax periods and determined that there are no material uncertainties within its filed tax returns. As of december 31, 2014 and 2013, the unrecognized tax benefit accrual was zero. 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 authoritites for years before 2011.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Federal income tax expense 10,102. State income tax expense 8,369.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Allocation of 2014 margins - part ix line 4 benefits paid to or for members 1,846,148. Federal income tax expense 10,102. State income tax expense 8,369.”

Raw XML AppendixShowing 400 of 514 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/PersonNm2DAVID D CLARKE
IRS990/Form990PartVIISectionAGrp/PersonNm3RICHARD L GREVE
IRS990/Form990PartVIISectionAGrp/PersonNm4DICK R RUITER
IRS990/Form990PartVIISectionAGrp/PersonNm5GARY E SIEVE
IRS990/Form990PartVIISectionAGrp/PersonNm6CINDY M HOKENESS
IRS990/Form990PartVIISectionAGrp/PersonNm7BRUCER BARBER
IRS990/Form990PartVIISectionAGrp/PersonNm8RICHARD G BURUD
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt012091
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt121817
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt221235
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt34932
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt410458
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt512806
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt614001
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt79511
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt8106473
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR (UNTIL MAY, 2014)
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8GENERAL MANAGER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/Form990TFiledInd01
IRS990/FormationYr01936
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GrantsToDomesticOrgsGrp/TotalAmt03450
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt0102694
IRS990/GrossReceiptsAmt017648835
IRS990/GrossSalesOfInventoryAmt0238738
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt06
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/TotalAmt0889993
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0621274
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0553720
IRS990/InvestmentIncomeGrp/ExclusionAmt0297990
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0297990
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt0318789
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0291423
IRS990/InvestmentsProgramRelatedGrp/BOYAmt05637238
IRS990/InvestmentsProgramRelatedGrp/EOYAmt06247084
IRS990/IRPDocumentCnt0125
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt015505272
IRS990/LandBldgEquipBasisNetGrp/BOYAmt031813004
IRS990/LandBldgEquipBasisNetGrp/EOYAmt033437519
IRS990/LandBldgEquipCostOrOtherBssAmt048942791
IRS990/LegalDomicileStateCd0MN
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt0102694
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersAndShrGrossIncomeAmt017053632
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO MAINTAIN OUR ELECTRICAL DISTRIBUTION SYSTEM AND PROVIDE ELECTRICITY TO OUR MEMBERS IN RURAL AREAS AND COMMUNITIES IN OUR SERVICE TERRITORY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt020872477
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt020560014
IRS990/NetAssetsOrFundBalancesBOYAmt020799929
IRS990/NetAssetsOrFundBalancesEOYAmt022200434
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt020327
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt061040
IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt040713
IRS990/NetUnrelatedBusTxblIncmAmt073908
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt061827
IRS990/OtherAssetsTotalGrp/EOYAmt055695
IRS990/OtherChangesInNetAssetsAmt01207862
IRS990/OtherExpensesGrp/Desc0FEDERAL INCOME TAX
IRS990/OtherExpensesGrp/Desc1COST OF POWER
IRS990/OtherExpensesGrp/Desc2DISTRIBUTION-MAINTENANC
IRS990/OtherExpensesGrp/Desc3ADMIN & GENERAL
IRS990/OtherExpensesGrp/TotalAmt010102
IRS990/OtherExpensesGrp/TotalAmt19931253
IRS990/OtherExpensesGrp/TotalAmt2975098
IRS990/OtherExpensesGrp/TotalAmt3698043
IRS990/OtherLiabilitiesGrp/BOYAmt0452039
IRS990/OtherLiabilitiesGrp/EOYAmt0876965
IRS990/OtherSalariesAndWagesGrp/TotalAmt01332144
IRS990/OtherSourcesGrossIncomeAmt0574032
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt0100930
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt02800030
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt02993372
IRS990/PensionPlanContributionsGrp/TotalAmt0262198
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0627713
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0264790
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0827434
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0748791
IRS990/PrincipalOfficerNm0RICHARD BURUD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/BusinessCd1221000
IRS990/ProgramServiceRevenueGrp/BusinessCd2221000
IRS990/ProgramServiceRevenueGrp/Desc0SALE OF POWER
IRS990/ProgramServiceRevenueGrp/Desc1CAPITAL CREDITS
IRS990/ProgramServiceRevenueGrp/Desc2EQUITY EARNINGS
IRS990/ProgramServiceRevenueGrp/ExclusionAmt023599
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt016165973
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1681969
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt20
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt016165973
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1685175
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt269459
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt03206
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt145860
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt01649214
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt06272
IRS990/PYInvestmentIncomeAmt0251170
IRS990/PYOtherExpensesAmt012820666
IRS990/PYOtherRevenueAmt070664
IRS990/PYProgramServiceRevenueAmt016399323
IRS990/PYRevenuesLessExpensesAmt0157629
IRS990/PYSalariesCompEmpBnftPaidAmt02087376
IRS990/PYTotalExpensesAmt016563528
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt016721157
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0192643
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt017999899
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt019207062
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02993910
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02715079
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0438262
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0515844
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0954106
IRS990ScheduleD/EquipmentGrp/BookValueAmt031201528
IRS990ScheduleD/EquipmentGrp/DepreciationAmt013757035
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt044958563
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt01864619
IRS990ScheduleD/ExpensesSubtotalAmt015311181
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt01088
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt05030040
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1802861
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt2113682
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt326433
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt4183399
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt572977
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt617692
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0GREAT RIVER ENERGY
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2NATIONAL RURAL TELECOMMUNICATIONS COOPERATIVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3COBANK
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4RURAL ELECTRIC SUPPLY COOPERATIVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5FEDERATED RURAL ELECTRIC INSURANCE EQUITY
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6OTHER INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd4C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd5C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd6C
IRS990ScheduleD/LandGrp/BookValueAmt0110401
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0110401
IRS990ScheduleD/OtherExpensesNotIncludedAmt01864619
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01687328
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01232393
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02919721
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0556177
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt123770
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2295930
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED CREDITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CUSTOMER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCUMULATED PROVISION FOR PENSION BENEFITS
IRS990ScheduleD/OtherRevenuesNotIncludedAmt018471
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt018471
IRS990ScheduleD/RevenueSubtotalAmt017349972
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0NOBLES COOPERATIVE ELECTRIC COLLECTS TRUST CONTRIBUTIONS FROM ITS MEMBERS ON A MONTHLY BASIS BY ROUNDING UP ELECTRIC BILLS TO EVEN DOLLAR AMOUNTS FOR MEMBERS WHO WISH TO PARTICIPATE IN THE PROGRAM. THESE MONIES ARE HELD IN A LIABILITY ACCOUNT UNTIL THE MONIES ARE PAID TO THE NOBLES-MURRARY RURAL ELECTRIC TRUST.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE COOPERATIVE IS SUBJECT TO INCOME TAX ON ITS UNRELATED BUSINESS INCOME (UBI) AND FILED ANNUALLY ON FEDERAL FORM 990T. A PROVISION FOR INCOME TAXES ON UNRELATED BUSINESS INCOME OF $18,472 AND $14,960 IS INCLUDED WITH NON-OPERATING MARGINS FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013, RESPECTIVELY. THE COOPERATIVE HAS EVALUATED WHETHER IT WAS NECESSARY TO RECOGNIZE ANY BENEFIT FROM UNCERTAIN TAX POSITIONS IN CURRENTLY OPEN TAX PERIODS AND DETERMINED THAT THERE ARE NO MATERIAL UNCERTAINTIES WITHIN ITS FILED TAX RETURNS. AS OF DECEMBER 31, 2014 AND 2013, THE UNRECOGNIZED TAX BENEFIT ACCRUAL WAS ZERO. 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 AUTHORITITES FOR YEARS BEFORE 2011.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FEDERAL INCOME TAX EXPENSE 10,102. STATE INCOME TAX EXPENSE 8,369.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3ALLOCATION OF 2014 MARGINS - PART IX LINE 4 BENEFITS PAID TO OR FOR MEMBERS 1,846,148. FEDERAL INCOME TAX EXPENSE 10,102. STATE INCOME TAX EXPENSE 8,369.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt033437519
IRS990ScheduleD/TotalBookValueProgramRltdAmt06247084
IRS990ScheduleD/TotalExpensesPerForm990Amt017175800
IRS990ScheduleD/TotalLiabilityAmt0876965
IRS990ScheduleD/TotalRevenuePerForm990Amt017368443
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt017349972
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt015311181
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0GREAT RIVER ENERGY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DIRECTOR LEE YORK IS A BOARD DIRECTOR FOR GREAT RIVER ENERGY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt09941014
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PURCHASE OF WHOLESALE POWER
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RICHARD 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. $106,639 WAS REIMBURSED BY NOBLES COOPERATIVE ELECTRIC IN 2014 UNDER THIS AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NOBLES COOPERATIVE ELECTRIC IS A RURAL ELECTRIC COOPERATIVE OWNED BY THE MEMBERS SERVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NOBLES COOPERATIVE ELECTRIC HAS ONE CLASS OF MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE ARE NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS REVIEWED AT A DIRECTOR BOARD MEETING PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON 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/SupplementalInformationDetail/ExplanationTxt6NOBLES 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 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR THE GENERAL 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/SupplementalInformationDetail/ExplanationTxt9ALLOCATION OF 2013 MARGINS 1,846,148. RETIREMENT OF CAPITAL CREDITS -673,999. TRANSFER TO UNALLOCATED RESERVE -157,629. INCREASE IN OTHER EQUITIES 193,342.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10THE ENTIRE BOARD OF DIRECTORS IS RESPONSIBLE FOR THE SELECTION AND OVERSIGHT OF THE INDEPENDENT PUBLIC ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11BENEFITS PAID TO OR FOR MEMBERS: THE 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/SupplementalInformationDetail/ExplanationTxt12THE 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/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11

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
$46,119,824
Liabilities
$23,919,390
Net assets
$22,200,434
Revenue
$17,368,443
Expenses
$17,175,800
Net income
$192,643
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