Civic Intelligence

Franklin Rural Electric Cooperative

990 • Fiscal year 2012 • EIN 42-0260720

Jan 01, 2012 to Dec 31, 2012 • Filed on Jul 31, 2013

Organization ProfileWWW.FRANKLINREC.COOP

View Organization Page

PO Box 43750441
Siviq Scores

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

Liabilities / Assets

81st percentile

0.61x

Higher debt load relative to assets than 81% of similar nonprofits.

2012 filings • 501(c)12 • $10M-$25M 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

7th percentile

-5.1%

Faster asset growth than 7% of similar nonprofits.

2012 filings • 501(c)12 • $10M-$25M 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 / Assets81st percentile

Assets

Down

$12,005,726

Down $645,034 (-5.1%) from 2011

Net Assets

Up

$4,698,548

Up $297,356 (+6.8%) from 2011

Liabilities

Down

$7,307,178

Down $942,390 (-11%) from 2011

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$6,330,021

Up $672,053 (+12%) from 2011

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

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

$30M$20M$10M$0Assets 2010: $11,758,177Liabilities 2010: $7,663,834Net Assets 2010: $4,094,3432010Assets 2011: $12,650,760Liabilities 2011: $8,249,568Net Assets 2011: $4,401,1922011Assets 2012: $12,005,726Liabilities 2012: $7,307,178Net Assets 2012: $4,698,5482012Assets 2013: $12,848,040Liabilities 2013: $7,713,312Net Assets 2013: $5,134,7282013Assets 2014: $13,076,164Liabilities 2014: $7,627,019Net Assets 2014: $5,449,1452014Assets 2015: $14,033,931Liabilities 2015: $8,261,768Net Assets 2015: $5,772,1632015Assets 2016: $14,941,994Liabilities 2016: $8,522,416Net Assets 2016: $6,419,5782016Assets 2017: $15,524,105Liabilities 2017: $8,780,781Net Assets 2017: $6,743,3242017Assets 2018: $15,967,787Liabilities 2018: $8,493,984Net Assets 2018: $7,473,8032018Assets 2019: $17,217,194Liabilities 2019: $9,594,271Net Assets 2019: $7,622,9232019Assets 2020: $20,035,345Liabilities 2020: $12,000,691Net Assets 2020: $8,034,6542020Assets 2021: $19,806,688Liabilities 2021: $11,560,943Net Assets 2021: $8,245,7452021Assets 2022: $20,255,882Liabilities 2022: $11,305,007Net Assets 2022: $8,950,8752022Assets 2023: $22,277,035Liabilities 2023: $12,754,943Net Assets 2023: $9,522,0922023Assets 2024: $23,062,346Liabilities 2024: $13,203,442Net Assets 2024: $9,858,9042024

Highlighted filing

2012

Assets$12,005,726
Liabilities$7,307,178
Net Assets$4,698,548
Open 2012 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0-$5.0MExpenses 2010: $5,361,7692010Revenue 2011: $6,432,662Expenses 2011: $5,657,968Net Income 2011: $774,6942011Expenses 2012: $6,330,0212012Revenue 2013: $7,282,907Expenses 2013: $7,068,358Net Income 2013: $214,5492013Revenue 2014: $7,475,331Expenses 2014: $7,350,724Net Income 2014: $124,6072014Revenue 2015: $7,415,031Expenses 2015: $7,269,557Net Income 2015: $145,4742015Revenue 2016: $7,953,848Expenses 2016: $7,451,755Net Income 2016: $502,0932016Revenue 2017: $7,785,852Expenses 2017: $7,479,146Net Income 2017: $306,7062017Revenue 2018: $8,310,117Expenses 2018: $8,177,429Net Income 2018: $132,6882018Revenue 2019: $8,174,045Expenses 2019: $8,036,400Net Income 2019: $137,6452019Revenue 2020: $7,991,273Expenses 2020: $7,824,589Net Income 2020: $166,6842020Revenue 2021: $8,127,748Expenses 2021: $8,127,750Net Income 2021: -$22021Revenue 2022: $8,423,010Expenses 2022: $8,423,010Net Income 2022: $02022Revenue 2023: $9,081,971Expenses 2023: $8,490,300Net Income 2023: $591,6712023Revenue 2024: $9,100,289Expenses 2024: $9,100,289Net Income 2024: $02024

Highlighted filing

2012

Revenue-
Expenses$6,330,021
Net Income-
Open 2012 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2012 to Dec 31, 2012
Signed
Jul 31, 2013
Return Version
2012v2.1
Gross Receipts
$7,834,030
Mission and Program Overview

Mission

To provide reliable and affordable electricity to our members

Filing and Contact Details

Filer

EIN
42-0260720
Raw XML AppendixShowing 400 of 437 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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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0THE COOPERATIVE HAS QUALIFIED AS A TAX-EXEMPT ORGANIZATION, UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE, AND ACCORDINGLY, INCOME TAXES HAVE NOT BEEN RECORDED IN THE ACCOMPANYING STATEMENTS. THE COOPERATIVE ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS ON JANUARY 1, 2009. AS A RESULT OF IMPLEMENTATION, THE COOPERATIVE EVALUATED ITS TAX POSITIONS AND DETERMINED THAT IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2012 AND 2011. WITH FEW EXCEPTIONS, THE COOPERATIVE IS NO LONGER SUBJECT TO FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2009.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation1INTERNET SERVICE EXPENSES NETTED AGAINST REVENUES FOR BOOK 222,185. FEMA GRANT RECEIVED NOT RECORDED AS REVENUE PER AUDIT 1,428,487.
IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation2INTERNET SERVICE EXPENSES NETTED AGAINST REVENUES FOR BOOK 222,185. PATRONAGE DIVIDENDS ALLOCATED 421,195.
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IRS990ScheduleO/GeneralExplanation/Explanation0THE COOPERATIVE IS COMPRISED OF A SINGLE CLASS OF APPROXIMATELY 1,448 MEMBER-OWNERS, EACH OF WHICH HAS EQUAL RIGHTS IN OWNERSHIP, GOVERNANCE, AND VOTING RIGHTS AT THE ANNUAL MEETING, WITH THE EXCEPTION OF MEMBER-OWNERS WHO ARE ELECTED TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/GeneralExplanation/Explanation1EACH OF THE NINE DISTRICTS ARE REPRESENTED BY ONE BOARD MEMBER WHICH MEMBER-OWNERS OF THE COOPERATIVE HAVE THE AUTHORITY TO ELECT AT THE ANNUAL MEETING. EACH YEAR THREE DIRECTORS ARE ELECTED AT THE ANNUAL MEETING.
IRS990ScheduleO/GeneralExplanation/Explanation2CHANGES TO THE GOVERNING DOCUMENTS (BYLAWS AND ARTICLES OF INCORPORATION) MUST BE APPROVED BY THE MEMBER-OWNERS AFTER THEY HAVE BEEN APPROVED BY THE BOARD OF DIRECTORS. APPROVAL OCCURS WHEN AT LEAST 50% OF THE MEMBER-OWNERS VOTE IN FAVOR OF THE CHANGES.
IRS990ScheduleO/GeneralExplanation/Explanation3A COPY OF FORM 990 WAS PRESENTED TO AND REVIEWED BY THE BOARD OF DIRECTORS AT THE MONTHLY BOARD MEETING PRIOR TO SUBMITTING IT TO THE IRS.
IRS990ScheduleO/GeneralExplanation/Explanation4A CONFLICT OF INTEREST POLICY WILL BE SIGNED BY EACH DIRECTOR ANNUALLY OR WHEN A NEW DIRECTOR IS APPOINTED. THE BOARD PRESIDENT WILL ADDRESS ANY CONFLICTS OF INTEREST AND TAKE APPROPRIATE ACTION IF ANY DIRECTOR IS NOT COMPLYING WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/GeneralExplanation/Explanation5A REVIEW OF GENERAL MANAGER COMPENSATION IN COMPARABLE COOPERATIVES OF SIMILAR SIZE AND LOCATION IS DISCUSSED BY THE BOARD OF DIRECTORS. THERE IS NO WRITTEN CONTRACT. THIS PROCESS WAS LAST CONDUCTED IN 2012.
IRS990ScheduleO/GeneralExplanation/Explanation6GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO MEMBERS, AUTHORIZED AGENTS, AND ATTORNEYS.
IRS990ScheduleO/GeneralExplanation/Explanation7THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI ON PAGE 12 OF THE FORM 990 AND IN PART XII ON SCHEDULE D.
IRS990ScheduleO/GeneralExplanation/Explanation8CAPITAL CREDITS RETIRED -123,354. CHANGE IN OTHER EQUITIES -483. PATRONAGE DIVIDENDS ALLOCATED 421,195. FEMA GRANT RECEIVED NOT RECORDED AS REVENUE PER AUDIT -1,428,487.
IRS990ScheduleO/GeneralExplanation/Explanation9THE BOARD OF DIRECTORS ASSUME RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/GeneralExplanation/Identifier0CHANGES IN NET ASSETS OR FUND BALANCES:
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 B, LINE 11
IRS990ScheduleO/GeneralExplanation/ReturnReference4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference5FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/GeneralExplanation/ReturnReference6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART IX, LINE 4
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990, PART XI, LINE 9:
IRS990ScheduleO/GeneralExplanation/ReturnReference9FORM 990, PART XII, LINE 2C
IRS990/ScheduleORequired01
IRS990/School00
IRS990/SignificantChange00
IRS990/SignificantNewProgramServices00
IRS990/StateLegalDomicile0IA
IRS990/SubjectToProxyTax00
IRS990/TaxablePartyNotification00
IRS990/TaxExemptBonds00
IRS990/Terminated00
IRS990/TermOrPermanentEndowments00
IRS990/TheBooksAreInCareOf/AddressUS/AddressLine101560 HIGHWAY 65 PO BOX 437
IRS990/TheBooksAreInCareOf/AddressUS/City0HAMPTON
IRS990/TheBooksAreInCareOf/AddressUS/State0IA
IRS990/TheBooksAreInCareOf/AddressUS/ZIPCode0504410437
IRS990/TheBooksAreInCareOf/NamePerson0KAREN J RINGLEB
IRS990/TheBooksAreInCareOf/TelephoneNumber06414562557
IRS990/TotalAssets/BOY012650760
IRS990/TotalAssetsBOY012650760
IRS990/TotalAssets/EOY012005726
IRS990/TotalAssetsEOY012005726
IRS990/TotalCompGT150K00
IRS990/TotalContributions01428487
IRS990/TotalExpensesCurrentYear06330021
IRS990/TotalExpensesPriorYear05657968
IRS990/TotalFunctionalExpenses/Total06330021
IRS990/TotalFundrsngExpCurrentYear00
IRS990/TotalGrossUBI073267
IRS990/TotalLiabilities/BOY08249568
IRS990/TotalLiabilitiesBOY08249568
IRS990/TotalLiabilities/EOY07307178
IRS990/TotalLiabilitiesEOY07307178
IRS990/TotalLiabNetAssetsFundBalances/BOY012650760
IRS990/TotalLiabNetAssetsFundBalances/EOY012005726
IRS990/TotalNbrEmployees014
IRS990/TotalNbrVolunteers00
IRS990/TotalNetAssetsFundBalances/BOY04401192
IRS990/TotalNetAssetsFundBalances/EOY04698548
IRS990/TotalOtherCompensation034281
IRS990/TotalOtherRevenue0286691
IRS990/TotalProfFundrsngExpCY00
IRS990/TotalProfFundrsngExpPriorYear00
IRS990/TotalProgramServiceRevenue06011418
IRS990/TotalReportableCompFrmRltdOrgs00
IRS990/TotalReportableCompFromOrg0130851
IRS990/TotalRevenueCurrentYear07758506
IRS990/TotalRevenue/ExclusionAmount013420

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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
$12,005,726
Liabilities
$7,307,178
Net assets
$4,698,548
Revenue
-
Expenses
$6,330,021
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.1$13.2$9.86$9.10$9.10$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.3$12.8$9.52$9.08$8.49$0.59
2022Summary only. Only limited summary data is available for this year.$20.3$11.3$8.95$8.42$8.42$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.8$11.6$8.25$8.13$8.13$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.0$12.0$8.03$7.99$7.82$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.2$9.59$7.62$8.17$8.04$0.14
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.0$8.49$7.47$8.31$8.18$0.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.5$8.78$6.74$7.79$7.48$0.31
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.9$8.52$6.42$7.95$7.45$0.50
2015Detailed filing. Detailed filing data is available for this year.$14.0$8.26$5.77$7.42$7.27$0.15
2014Detailed filing. Detailed filing data is available for this year.$13.1$7.63$5.45$7.48$7.35$0.12
2013Detailed filing. Detailed filing data is available for this year.$12.8$7.71$5.13$7.28$7.07$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$7.31$4.70$6.33
2011Summary only. Only limited summary data is available for this year.$12.7$8.25$4.40$6.43$5.66$0.77
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$7.66$4.09$5.36