Civic Intelligence

P K M Electric Cooperative Inc

990 • Fiscal year 2012 • EIN 41-0484875

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

Organization ProfileWWW.PKMCOOP.COM

View Organization Page

PO Box 108 406 North MinnesotaStreet56762
Siviq Scores

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

Liabilities / Assets

50th percentile

0.54x

Higher debt load relative to assets than 50% 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

93rd percentile

15%

Faster asset growth than 93% 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 / Assets50th percentile

Assets

Up

$27,356,878

Up $3,538,761 (+15%) from 2011

Net Assets

Up

$12,645,468

Up $646,714 (+5.4%) from 2011

Liabilities

Up

$14,711,410

Up $2,892,047 (+24%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$12,065,023

Up $874,424 (+7.8%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$60M$40M$20M$0Assets 2010: $23,546,677Liabilities 2010: $11,868,552Net Assets 2010: $11,678,1252010Assets 2011: $23,818,117Liabilities 2011: $11,819,363Net Assets 2011: $11,998,7542011Assets 2012: $27,356,878Liabilities 2012: $14,711,410Net Assets 2012: $12,645,4682012Assets 2013: $27,215,453Liabilities 2013: $14,632,932Net Assets 2013: $12,582,5212013Assets 2014: $28,178,248Liabilities 2014: $14,232,689Net Assets 2014: $13,945,5592014Assets 2015: $27,722,614Liabilities 2015: $14,222,439Net Assets 2015: $13,500,1752015Assets 2016: $28,938,692Liabilities 2016: $14,453,098Net Assets 2016: $14,485,5942016Assets 2017: $29,999,346Liabilities 2017: $14,865,017Net Assets 2017: $15,134,3292017Assets 2018: $29,572,203Liabilities 2018: $13,850,996Net Assets 2018: $15,721,2072018Assets 2019: $31,051,007Liabilities 2019: $14,182,141Net Assets 2019: $16,868,8662019Assets 2020: $33,297,526Liabilities 2020: $15,641,397Net Assets 2020: $17,656,1292020Assets 2021: $34,625,055Liabilities 2021: $14,927,787Net Assets 2021: $19,697,2682021Assets 2022: $35,400,036Liabilities 2022: $14,951,611Net Assets 2022: $20,448,4252022Assets 2023: $38,351,962Liabilities 2023: $16,665,156Net Assets 2023: $21,686,8062023Assets 2024: $41,644,641Liabilities 2024: $18,199,702Net Assets 2024: $23,444,9392024

Highlighted filing

2012

Assets$27,356,878
Liabilities$14,711,410
Net Assets$12,645,468
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $9,349,0502010Revenue 2011: $11,458,885Expenses 2011: $11,190,599Net Income 2011: $268,2862011Expenses 2012: $12,065,0232012Revenue 2013: $12,700,685Expenses 2013: $12,617,653Net Income 2013: $83,0322013Revenue 2014: $14,727,514Expenses 2014: $14,426,237Net Income 2014: $301,2772014Revenue 2015: $13,782,571Expenses 2015: $13,841,849Net Income 2015: -$59,2782015Revenue 2016: $15,105,955Expenses 2016: $14,814,452Net Income 2016: $291,5032016Revenue 2017: $14,505,345Expenses 2017: $14,266,455Net Income 2017: $238,8902017Revenue 2018: $14,814,247Expenses 2018: $14,612,004Net Income 2018: $202,2432018Revenue 2019: $15,433,899Expenses 2019: $15,118,132Net Income 2019: $315,7672019Revenue 2020: $15,210,319Expenses 2020: $14,675,808Net Income 2020: $534,5112020Revenue 2021: $14,516,004Expenses 2021: $13,757,347Net Income 2021: $758,6572021Revenue 2022: $15,190,253Expenses 2022: $14,858,333Net Income 2022: $331,9202022Revenue 2023: $15,284,496Expenses 2023: $15,094,578Net Income 2023: $189,9182023Revenue 2024: $16,432,304Expenses 2024: $15,754,750Net Income 2024: $677,5542024

Highlighted filing

2012

Revenue-
Expenses$12,065,023
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Oct 28, 2013
Return Version
2012v2.1
Gross Receipts
$12,951,521
Mission and Program Overview

Mission

To provide electric service to members.

Filing and Contact Details

Filer

EIN
41-0484875
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IRS990ScheduleD/ExplanationInPartXIII0X
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0The members of the Cooperative can elect to round up their monthly electric bill to the next dollar. These funds collected from the membership are held in a Cooperative account until they are released to PKM Electric Cooperative Trust's Operation Round-up program. These funds are transferred directly to the Operation Round-up on a monthly basis. Funds that exist at the end of year are a result of a timing difference in the receipt of the funds and the release of them to the Operation Round-up. For the year ended December 31, 2012 the account held $1,307.
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0Form 990, Schedule J, Part II, Column C, Compensation of Officers, Directors, Key Employees, Highest Compensated Employees and Independent Contractors: Included in Column "C", deferred compensaton, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Charles Riesen is $37,687 and $51,584 for Mike Schmidt. These amounts are estimates in the increase of the value of the plan and are not current year expenses of the cooperative. The current year expense for this defined benefit plan was $34,270 and $26,735, respectively.
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IRS990ScheduleO/GeneralExplanation/Explanation0There is only one class of members. Any person, firm, corporation or body politic may become a member by: (a) paying the par value for one share of stock; (b) agreeing to purchase electric energy from the Cooperative; (c) agreeing to comply with and be bound by the Articles of Incorporation and Bylaws.
IRS990ScheduleO/GeneralExplanation/Explanation1Every member has one voting right at the annual meeting to vote on the selection of officers.
IRS990ScheduleO/GeneralExplanation/Explanation2Each member has one voting right on the approval of changes to the organization documents at the annual meeting. The sale, lease or exchange of all of the Cooperative's property, rights, privileges and franchises must be approved by 2/3 vote of the members.
IRS990ScheduleO/GeneralExplanation/Explanation3There are no committees that can act on behalf of the governing board. All committees make only recommendations to the governing board, which then makes the final approval.
IRS990ScheduleO/GeneralExplanation/Explanation4The Assistant Manager, Mike Schmidt, will review the final Form 990. The Form 990 will be provided to the board for review electronically prior to the board meeting. The Assistant Manager will also present the Form 990 to the Manager, Charles Riesen, and the full governing board at a board meeting.
IRS990ScheduleO/GeneralExplanation/Explanation5The conflict of interest policy, which covers the Board of Directors and officers of the Cooperative, is discussed at a board meeting. The Manager and Assistant Manager review any conflicts that need to be disclosed. If a conflict arises, it is brought to the board's attention and the individual with the conflict abstains from voting on that issue.
IRS990ScheduleO/GeneralExplanation/Explanation6The board members, who are independent, review and approve the compensation of the Manager by using comparability data only. The approval is recorded in the board minutes. The board members also approve their own adjustments to their compensation based on comparability data only. All other paid employees' compensation is reviewed and approved by the Manager. This process was started in September and approved in October of 2012.
IRS990ScheduleO/GeneralExplanation/Explanation7The governing documents, conflict of interest policy and financial statements are available to the public upon request. The financial statements are available in the monthly newsletter, and every member is given a copy of the governing documents when they become members.
IRS990ScheduleO/GeneralExplanation/Explanation8Included in column "F", estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase for Charles Riesen is $37,687 and for Mike Schmidt is $51,584. These amounts are estimates in the increase of the value of the plan and are not current year expenses of the cooperative. The current year expense for this defined benefit plan was $34,270 and $26,735, respectively.
IRS990ScheduleO/GeneralExplanation/Explanation9The labor, pension and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative and general expense and customer expense. Therefore these amounts are being subtracted out as an other deduction on line 24e in the amount of $(1,727,934).
IRS990ScheduleO/GeneralExplanation/Explanation10Retirement of Capital Credits -237,396. Less Equity Income From LLC's-Book 180,634. Tax Income From K-1(s) -93,496. Other increase in membership 230.
IRS990ScheduleO/GeneralExplanation/Explanation11The Organization did not receive audited financial statements for December 31, 2012 year end. The Organization did, however, receive audited financials for the February 28, 2012 year end.
IRS990ScheduleO/GeneralExplanation/Identifier0Changes in Net Assets or Fund Balances:
IRS990ScheduleO/GeneralExplanation/Identifier1Audited Financials Statements
IRS990ScheduleO/GeneralExplanation/ReturnReference0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/GeneralExplanation/ReturnReference1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/GeneralExplanation/ReturnReference2Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/GeneralExplanation/ReturnReference3Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/GeneralExplanation/ReturnReference4Form 990, Part VI, Section B, line 11
IRS990ScheduleO/GeneralExplanation/ReturnReference5Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/GeneralExplanation/ReturnReference6Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/GeneralExplanation/ReturnReference7Form 990, Part VI, Section C, line 19
IRS990ScheduleO/GeneralExplanation/ReturnReference8Form 990, Part VII, Section A, Column (F)
IRS990ScheduleO/GeneralExplanation/ReturnReference9Form 990, Part IX, Statement of Functional Expenses, Line 24e
IRS990ScheduleO/GeneralExplanation/ReturnReference10Form 990, Part XI, line 9:
IRS990ScheduleO/GeneralExplanation/ReturnReference11Form 990, Part XI, Line 2b
IRS990/ScheduleORequired01
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0MN
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine10406 N Minnesota Street
IRS990/TheBooksAreInCareOf/AddressUS/City0Warren
IRS990/TheBooksAreInCareOf/AddressUS/State0MN
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode056762
IRS990/TheBooksAreInCareOf/NameBusiness/BusinessNameLine10Mike Schmidt
IRS990/TheBooksAreInCareOf/TelephoneNumber02187454711
IRS990/TotalAssets/BOY023818117
IRS990/TotalAssetsBOY023818117
IRS990/TotalAssets/EOY027356878
IRS990/TotalAssetsEOY027356878
IRS990/TotalCompGT150K01
IRS990/TotalExpensesCurrentYear012065023
IRS990/TotalExpensesPriorYear011190599
IRS990/TotalFunctionalExpenses/Total012065023
IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI05383
IRS990/TotalLiabilities/BOY011819363
IRS990/TotalLiabilitiesBOY011819363
IRS990/TotalLiabilities/EOY014711410
IRS990/TotalLiabilitiesEOY014711410
IRS990/TotalLiabNetAssetsFundBalances/BOY023818117
IRS990/TotalLiabNetAssetsFundBalances/EOY027356878
IRS990/TotalNbrEmployees020
IRS990/TotalNbrVolunteers00
IRS990/TotalNetAssetsFundBalances/BOY011998754
IRS990/TotalNetAssetsFundBalances/EOY012645468

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$27,356,878
Liabilities
$14,711,410
Net assets
$12,645,468
Revenue
-
Expenses
$12,065,023
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$41.6$18.2$23.4$16.4$15.8$0.68
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.4$16.7$21.7$15.3$15.1$0.19
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.4$15.0$20.4$15.2$14.9$0.33
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.6$14.9$19.7$14.5$13.8$0.76
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.3$15.6$17.7$15.2$14.7$0.53
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.1$14.2$16.9$15.4$15.1$0.32
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.6$13.9$15.7$14.8$14.6$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.0$14.9$15.1$14.5$14.3$0.24
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.9$14.5$14.5$15.1$14.8$0.29
2015Detailed filing. Detailed filing data is available for this year.$27.7$14.2$13.5$13.8$13.8$0.06
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.2$14.2$13.9$14.7$14.4$0.30
2013Detailed filing. Detailed filing data is available for this year.$27.2$14.6$12.6$12.7$12.6$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.4$14.7$12.6$12.1
2011Summary only. Only limited summary data is available for this year.$23.8$11.8$12.0$11.5$11.2$0.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.5$11.9$11.7$9.35