Civic Intelligence

Howard Electric Cooperative

990 • Fiscal year 2020 • EIN 43-0330970

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 12, 2021

Organization Profilewww.howardelectric.com
PO Box 391Fayette, MO 65248

(660) 248-3311

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.55x

Higher debt load relative to assets than 63% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

70th percentile

1.87x

Higher debt load relative to revenue than 70% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Net Margin

49th percentile

2.2%

Higher net margin than 49% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

95th percentile

$396,811

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2020

Asset Growth

50th percentile

2.8%

Faster asset growth than 50% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

34th percentile

-1.5%

Faster revenue growth than 34% of similar nonprofits.

2020 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Up

$26,616,692

Up $721,692 (+2.8%) from 2019

Net Assets

Up

$11,954,364

Up $278,138 (+2.4%) from 2019

Liabilities

Up

$14,662,328

Up $443,554 (+3.1%) from 2019

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin49th percentile

Revenue

Down

$7,850,430

Down $115,627 (-1.5%) from 2019

Expenses

Up

$7,674,042

Up $243,527 (+3.3%) from 2019

Net Income

Down

$176,388

Down $359,154 (-67%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$40M$30M$20M$10M$0Assets 2010: $16,081,477Liabilities 2010: $7,583,366Net Assets 2010: $8,498,1112010Assets 2011: $17,500,520Liabilities 2011: $8,652,150Net Assets 2011: $8,848,3702011Assets 2012: $17,689,447Liabilities 2012: $8,668,846Net Assets 2012: $9,020,6012012Assets 2013: $19,673,197Liabilities 2013: $10,131,640Net Assets 2013: $9,541,5572013Assets 2014: $21,384,146Liabilities 2014: $11,392,846Net Assets 2014: $9,991,3002014Assets 2015: $21,937,174Liabilities 2015: $11,836,504Net Assets 2015: $10,100,6702015Assets 2016: $22,780,229Liabilities 2016: $12,237,294Net Assets 2016: $10,542,9352016Assets 2017: $24,308,838Liabilities 2017: $13,638,948Net Assets 2017: $10,669,8902017Assets 2018: $25,382,498Liabilities 2018: $14,068,124Net Assets 2018: $11,314,3742018Assets 2019: $25,895,000Liabilities 2019: $14,218,774Net Assets 2019: $11,676,2262019Assets 2020: $26,616,692Liabilities 2020: $14,662,328Net Assets 2020: $11,954,3642020Assets 2021: $28,589,659Liabilities 2021: $16,477,974Net Assets 2021: $12,111,6852021Assets 2022: $29,268,152Liabilities 2022: $16,729,695Net Assets 2022: $12,538,4572022Assets 2023: $31,290,611Liabilities 2023: $17,915,659Net Assets 2023: $13,374,9522023Assets 2024: $31,527,993Liabilities 2024: $17,030,450Net Assets 2024: $14,497,5432024

Highlighted filing

2020

Assets$26,616,692
Liabilities$14,662,328
Net Assets$11,954,364
Open 2020 Filing

Operations Trend

Revenue Growth34th percentile

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

$10M$5.0M$0Expenses 2010: $5,248,8522010Expenses 2011: $5,764,6722011Expenses 2012: $5,765,6662012Revenue 2013: $6,331,749Expenses 2013: $6,331,749Net Income 2013: $02013Revenue 2014: $6,554,483Expenses 2014: $6,554,483Net Income 2014: $02014Revenue 2015: $6,362,421Expenses 2015: $6,362,421Net Income 2015: $02015Revenue 2016: $6,743,296Expenses 2016: $6,302,066Net Income 2016: $441,2302016Revenue 2017: $6,785,275Expenses 2017: $6,658,795Net Income 2017: $126,4802017Revenue 2018: $8,551,597Expenses 2018: $7,177,763Net Income 2018: $1,373,8342018Revenue 2019: $7,966,057Expenses 2019: $7,430,515Net Income 2019: $535,5422019Revenue 2020: $7,850,430Expenses 2020: $7,674,042Net Income 2020: $176,3882020Revenue 2021: $7,815,337Expenses 2021: $7,759,591Net Income 2021: $55,7462021Revenue 2022: $8,108,424Expenses 2022: $7,957,567Net Income 2022: $150,8572022Revenue 2023: $8,918,400Expenses 2023: $8,082,805Net Income 2023: $835,5952023Revenue 2024: $9,465,174Expenses 2024: $8,773,473Net Income 2024: $691,7012024

Highlighted filing

2020

Revenue$7,850,430
Expenses$7,674,042
Net Income$176,388
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 12, 2021
Return Version
2020v4.1
Gross Receipts
$7,850,430
Mission and Program Overview

Mission

As a cooperative, Howard Electric operates on a non-profit basis. All revenue above the cost of doing business (margins) is assigned to the members under a patronage refund plan called capital credits. The cooperative assigned capital credits annually and keeps a careful record of each member's investment in the co-op.

We are proud to provide safe, reliable, affordable and clean electric power to our member-owners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,003,681$19,683,681▲ $680,000
Rtn Earn Endowment Incm Other Fnds$11,609,101$11,885,489▲ $276,388
Investments Program Related$3,376,276$3,654,389▲ $278,113
Savings and Temporary Cash Investments$1,811,493$1,528,063▼ $283,430
Accounts Receivable$588,697$602,273▲ $13,576
Inventories for Sale or Use$551,148$564,037▲ $12,889
Prepaid Expenses and Deferred Charges$407,181$379,525▼ $27,656
Cash and Non-Interest-Bearing Accounts$156,524$204,724▲ $48,200
Cap Stk Tr Prin Current Funds$67,125$68,875▲ $1,750
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$25,895,000$26,616,692▲ $721,692
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,368,812$13,007,940▲ $639,128
Deferred Revenue$905,000$805,000▼ $100,000
Accounts Payable and Accrued Expenses$684,872$549,295▼ $135,577
Other Liabilities$260,090$300,093▲ $40,003
Total Liabilities$14,218,774$14,662,328▲ $443,554
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,676,226$11,954,364▲ $278,138
Total Liabilities and Net Assets / Fund Balance$25,895,000$26,616,692▲ $721,692

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$19,034,543$6,173,518$25,208,061
Buildings$597,120$441,242$1,038,362
Land$52,018-$52,018
Investment Program Related Org$104,121--
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard FowlerGeneral ManagerFT$220,736$176,075$396,811
Chad WesthuesConstruction ForemanFT$104,265$29,508$133,773
Amber OverfeltAssistant ManagerFT$93,574$38,675$132,249
Bill WestfallDirector-$5,000-$5,000
George FrinkDirectorPT$4,200-$4,200
Dale KirbyPresidentPT$4,000-$4,000
Oran BouldenTreasurer-$3,000-$3,000
Ken NordmeyerVice President-$3,000-$3,000
Lee YoungVice President-$3,000-$3,000
Debbie WiswallSecretary-$3,000-$3,000
Marvin HilgedickDirector-$2,800-$2,800
Bill JohnTreasurerPT$2,200-$2,200
Omer ConrowDirector-$1,400-$1,400
Andy CookDirector-$1,200-$1,200

Highest Paid Contractors

ContractorServicesLocationCompensation
Kiowa Line BuildersLine Construction801 MO-5, Tipton, MO 65081$413,320
Burbridge Tree ServiceROW Clearing559 State Rt Y, Harrisburg, MO 65256$394,675
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,764,547
Investment Income
$109,970
Other Revenue
$-24,087
Change in Net Assets
$176,388

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,950,430
Revenue Not Reported on Financial Statements
$-100,000
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-100,000
Total Revenue per Audited Statements
$7,950,430
Total Revenue per Form 990
$7,850,430
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,968,822
Salaries, Compensation, and Employee Benefits$438,873
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,037,758--$1,037,758
All Other Expenses$675,458--$675,458
Current Officers, Directors, Trustees, and Key Employees$438,873--$438,873
Interest$435,319--$435,319
Other Expenses$287,608--$287,608
Benefits to Members$266,347--$266,347
Total Functional Expenses$7,674,042$0$0$7,674,042

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$7,674,042
Expenses per Audited Statements$7,407,695
Total Expenses per Audited Statements$7,407,695
Expenses Not Reported on Financial Statements$266,347
Other Expense Adjustments$266,347
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation$159,663
Customer Advances and Deposits$140,430
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 35% controlled entity
No
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“Every electric service customer of the cooperative is a member/owner and has a right to a vote at the cooperative's annual meeting.”

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

“Members of the board of directors are elected by the member/owners of the cooperative at the annual meeting.”

Form 990, Part VI, Section A, line 7B

“Members of the cooperative may vote to amend the bylaws of the cooperative”

Form 990, Part VI, Section B, line 11B

“The Federal Form 990 is presented to and discussed by the Board of Directors and formally approved before the form is filed with the Internal Revenue Service.”

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

“Officers, directors and management are required to follow the Cooperative's conflict of interest policy and report any potential conflicts to the manager or legal counsel.”

Form 990, Part VI, Section B, line 15

“The process for determining the General Manager's compensation by the Howard Electric board of directors included a review of the General Manager's performance, comparisons of other General Manager salaries in the State of Missouri and in the Midwest and an in depth deliberation before the ultimate decision was made setting the general manager's compensation. All of this is set forth in the Minutes of the Howard Electric Board of Directors, such minutes were approved by the full board.”

Form 990, Part VI, Section C, line 18

“Information is available upon request of the Cooperative or at www.guidestar.org”

Form 990, Part VI, Section C, line 19

“Governing documents, conflict of interest policies and financial statements are available for public inspection by contacting General Manager Richard Fowler at the Cooperative.”

Form 990, Part VII and Schedule J

“Other compensation includes "estimates" of future costs that are not reflected in rates. Rates to members are based on actual costs which are less than of the amount listed here. These other compensations include estimated (not actual) increases or decreases in actuarial values whether or not funded. NRECA's defined benefit plan is well over 90% funded which at this point in time has mostly eliminated future unfunded costs.”

Filing and Contact Details

Filer

Filer Name
Howard Electric Cooperative
EIN
43-0330970
Phone
6602483311
Address
PO Box 391, Fayette, MO 65248

Signing Officer

Name
Richard T Fowler
Title
General Manager
Phone
6602483310
Signed
2021-10-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard T Fowler
Formed
1936
Legal Domicile
Mo
Voting Board Members
9
Independent Board Members
9
Employees
16
Volunteers
0

Preparer

Firm
Dennis G Koch & Associates LLC
Address
PO Box 1007, Quincy, IL 62306-1007
Preparer
Dennis G Koch
Phone
2172248484
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

“Memberships (net) 1,750. Decrease in deferred revenues 100,000.”

Financial Statement Notes

Part X, Line 2:

“The cooperative evaluates the components of the annual test for maintenance of its tax-exempt status under section 501(c)(12) of the Internal Revenue Code of 1986, as amended. This process includes an analysis of whether the position the cooperative takes with regard to a particular item of income would meet the definition of an uncertain tax position under Financial Accounting Interpretation No. 48, Accounting for Uncertainty in Income Taxes.”

Part XI, Line 4B - Other Adjustments:

“Deferred revenue”

Part XII, Line 4B - Other Adjustments:

“Capital Creidts Retired, reported as paid to members”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0General Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt1Construction Foreman
IRS990/Form990PartVIISectionAGrp/TitleTxt2Assistant Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5President
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt8Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01936
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt07850430
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt02
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InterestGrp/ProgramServicesAmt0435319
IRS990/InterestGrp/TotalAmt0435319
IRS990/InventoriesForSaleOrUseGrp/BOYAmt0551148
IRS990/InventoriesForSaleOrUseGrp/EOYAmt0564037
IRS990/InvestmentIncomeGrp/ExclusionAmt0109970
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0109970
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt03376276
IRS990/InvestmentsProgramRelatedGrp/EOYAmt03654389
IRS990/IRPDocumentCnt022
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt06614760
IRS990/LandBldgEquipBasisNetGrp/BOYAmt019003681
IRS990/LandBldgEquipBasisNetGrp/EOYAmt019683681
IRS990/LandBldgEquipCostOrOtherBssAmt026298441
IRS990/LegalDomicileStateCd0MO
IRS990/LoanOutstandingInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersAndShrGrossIncomeAmt07680309
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0As a cooperative, Howard Electric operates on a non-profit basis. All revenue above the cost of doing business (margins) is assigned to the members under a patronage refund plan called capital credits. The cooperative assigned capital credits annually and keeps a careful record of each member's investment in the co-op.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt012368812
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt013007940
IRS990/NetAssetsOrFundBalancesBOYAmt011676226
IRS990/NetAssetsOrFundBalancesEOYAmt011954364
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt0101750
IRS990/OtherExpensesGrp/Desc0Purchased Power
IRS990/OtherExpensesGrp/Desc1Distribution Operations
IRS990/OtherExpensesGrp/Desc2Customer Service
IRS990/OtherExpensesGrp/Desc3Distribution Maintenanc
IRS990/OtherExpensesGrp/ProgramServicesAmt03166072
IRS990/OtherExpensesGrp/ProgramServicesAmt11006601
IRS990/OtherExpensesGrp/ProgramServicesAmt2360006
IRS990/OtherExpensesGrp/ProgramServicesAmt3287608
IRS990/OtherExpensesGrp/TotalAmt03166072
IRS990/OtherExpensesGrp/TotalAmt11006601
IRS990/OtherExpensesGrp/TotalAmt2360006
IRS990/OtherExpensesGrp/TotalAmt3287608
IRS990/OtherInd0X
IRS990/OtherLiabilitiesGrp/BOYAmt0260090
IRS990/OtherLiabilitiesGrp/EOYAmt0300093
IRS990/OtherRevenueMiscGrp/BusinessCd0221000
IRS990/OtherRevenueMiscGrp/Desc0Subsidiary Income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0-24087
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0-24087
IRS990/OtherRevenueTotalAmt0-24087
IRS990/OtherSourcesGrossIncomeAmt0294208
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0407181
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0379525
IRS990/PrincipalOfficerNm0Richard T Fowler
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/BusinessCd1221000
IRS990/ProgramServiceRevenueGrp/BusinessCd2221000
IRS990/ProgramServiceRevenueGrp/Desc0Energy Sales
IRS990/ProgramServiceRevenueGrp/Desc1Capital Credits
IRS990/ProgramServiceRevenueGrp/Desc2Other Electric Revenue
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07222263
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1362183
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2180101
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07222263
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1362183
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2180101
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt0218699
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0173428
IRS990/PYOtherExpensesAmt06755776
IRS990/PYOtherRevenueAmt0-103690
IRS990/PYProgramServiceRevenueAmt07896319
IRS990/PYRevenuesLessExpensesAmt0535542
IRS990/PYSalariesCompEmpBnftPaidAmt0456040
IRS990/PYTotalExpensesAmt07430515
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07966057
IRS990/ReconcilationRevenueExpnssAmt0176388
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt07740460
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt011609101
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt011885489
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01811493
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01528063
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0597120
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0441242
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01038362
IRS990ScheduleD/EquipmentGrp/BookValueAmt019034543
IRS990ScheduleD/EquipmentGrp/DepreciationAmt06173518
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt025208061
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0266347
IRS990ScheduleD/ExpensesSubtotalAmt07407695
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt03298534
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1166821
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt284913
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt3104121
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0Associated Organizations
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1CFC Certificates
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2Subsidiary Company
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3Other
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/LandGrp/BookValueAmt052018
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt052018
IRS990ScheduleD/OtherExpensesNotIncludedAmt0266347
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0140430
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1159663
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Customer Advances and Deposits
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred Compensation
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-100000
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-100000
IRS990ScheduleD/RevenueSubtotalAmt07950430
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The cooperative evaluates the components of the annual test for maintenance of its tax-exempt status under section 501(c)(12) of the Internal Revenue Code of 1986, as amended. This process includes an analysis of whether the position the cooperative takes with regard to a particular item of income would meet the definition of an uncertain tax position under Financial Accounting Interpretation No. 48, Accounting for Uncertainty in Income Taxes.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Deferred revenue
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Capital Creidts Retired, reported as paid to members
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019683681
IRS990ScheduleD/TotalBookValueProgramRltdAmt03654389
IRS990ScheduleD/TotalExpensesPerForm990Amt07674042
IRS990ScheduleD/TotalLiabilityAmt0300093
IRS990ScheduleD/TotalRevenuePerForm990Amt07850430
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07950430
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07407695
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0220736
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt0144262
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt021036
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt010777
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Richard Fowler
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0General Manager
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0396811
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Compensation of the General Manager is done by comparing the salaries of like-sized Electric Cooperatives in similar financial and physical condition, neighboring investor owned utilities and other comparative data. The Board of Directors approve the compensation package annually.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Every electric service customer of the cooperative is a member/owner and has a right to a vote at the cooperative's annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members of the board of directors are elected by the member/owners of the cooperative at the annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Members of the cooperative may vote to amend the bylaws of the cooperative
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Federal Form 990 is presented to and discussed by the Board of Directors and formally approved before the form is filed with the Internal Revenue Service.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Officers, directors and management are required to follow the Cooperative's conflict of interest policy and report any potential conflicts to the manager or legal counsel.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The process for determining the General Manager's compensation by the Howard Electric board of directors included a review of the General Manager's performance, comparisons of other General Manager salaries in the State of Missouri and in the Midwest and an in depth deliberation before the ultimate decision was made setting the general manager's compensation. All of this is set forth in the Minutes of the Howard Electric Board of Directors, such minutes were approved by the full board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Information is available upon request of the Cooperative or at www.guidestar.org

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$26,616,692
Liabilities
$14,662,328
Net assets
$11,954,364
Revenue
$7,850,430
Expenses
$7,674,042
Net income
$176,388
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.5$17.0$14.5$9.47$8.77$0.69
2023Detailed filing. Detailed filing data is available for this year.$31.3$17.9$13.4$8.92$8.08$0.84
2022Detailed filing. Detailed filing data is available for this year.$29.3$16.7$12.5$8.11$7.96$0.15
2021Detailed filing. Detailed filing data is available for this year.$28.6$16.5$12.1$7.82$7.76$0.06
2020Detailed filing. Detailed filing data is available for this year.$26.6$14.7$12.0$7.85$7.67$0.18
2019Detailed filing. Detailed filing data is available for this year.$25.9$14.2$11.7$7.97$7.43$0.54
2018Detailed filing. Detailed filing data is available for this year.$25.4$14.1$11.3$8.55$7.18$1.37
2017Detailed filing. Detailed filing data is available for this year.$24.3$13.6$10.7$6.79$6.66$0.13
2016Detailed filing. Detailed filing data is available for this year.$22.8$12.2$10.5$6.74$6.30$0.44
2015Detailed filing. Detailed filing data is available for this year.$21.9$11.8$10.1$6.36$6.36$0.00
2014Detailed filing. Detailed filing data is available for this year.$21.4$11.4$9.99$6.55$6.55$0.00
2013Detailed filing. Detailed filing data is available for this year.$19.7$10.1$9.54$6.33$6.33$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.7$8.67$9.02$5.77
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.5$8.65$8.85$5.76
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.1$7.58$8.50$5.25