Civic Intelligence

Cimarron Electric Cooperative Inc

990 • Fiscal year 2018 • EIN 73-0195455

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 17, 2019

PO Box 299Kingfisher, OK 73750-0299

(405) 375-4121

Siviq Scores

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

Liabilities / Assets

78th percentile

0.63x

Higher debt load relative to assets than 78% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

80th percentile

1.76x

Higher debt load relative to revenue than 80% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2018

Net Margin

52nd percentile

0.0%

Higher net margin than 52% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

61st percentile

$340,791

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2018

Asset Growth

96th percentile

18%

Faster asset growth than 96% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

99th percentile

21%

Faster revenue growth than 99% of similar nonprofits.

2018 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Up

$141,530,472

Up $21,184,997 (+18%) from 2017

Net Assets

Up

$51,876,582

Up $6,309,702 (+14%) from 2017

Liabilities

Up

$89,653,890

Up $14,875,295 (+20%) from 2017

Revenue

Up

$51,039,675

Up $8,907,726 (+21%) from 2017

Expenses

Up

$51,039,675

Up $8,418,274 (+20%) from 2017

Net Income

Up

$0

Up $489,452 (+100%) from 2017

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2010: $69,305,837Liabilities 2010: $44,497,650Net Assets 2010: $24,808,1872010Assets 2011: $73,992,033Liabilities 2011: $48,881,879Net Assets 2011: $25,110,1542011Assets 2012: $80,321,071Liabilities 2012: $53,591,827Net Assets 2012: $26,729,2442012Assets 2013: $88,659,833Liabilities 2013: $59,003,318Net Assets 2013: $29,656,5152013Assets 2014: $88,284,286Liabilities 2014: $54,465,146Net Assets 2014: $33,819,1402014Assets 2015: $103,088,359Liabilities 2015: $64,087,469Net Assets 2015: $39,000,8902015Assets 2016: $122,359,890Liabilities 2016: $80,863,348Net Assets 2016: $41,496,5422016Assets 2017: $120,345,475Liabilities 2017: $74,778,595Net Assets 2017: $45,566,8802017Assets 2018: $141,530,472Liabilities 2018: $89,653,890Net Assets 2018: $51,876,5822018Assets 2019: $157,743,276Liabilities 2019: $98,750,178Net Assets 2019: $58,993,0982019Assets 2020: $164,080,321Liabilities 2020: $100,388,116Net Assets 2020: $63,692,2052020Assets 2021: $169,637,752Liabilities 2021: $100,618,822Net Assets 2021: $69,018,9302021Assets 2022: $177,760,521Liabilities 2022: $102,252,982Net Assets 2022: $75,507,5392022Assets 2023: $185,207,084Liabilities 2023: $104,872,249Net Assets 2023: $80,334,8352023Assets 2024: $189,273,979Liabilities 2024: $103,678,725Net Assets 2024: $85,595,2542024

Highlighted filing

2018

Assets$141,530,472
Liabilities$89,653,890
Net Assets$51,876,582

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $23,687,6242010Revenue 2011: $27,404,699Expenses 2011: $27,861,203Net Income 2011: -$456,5042011Expenses 2012: $27,947,4752012Revenue 2013: $30,447,539Expenses 2013: $31,365,986Net Income 2013: -$918,4472013Revenue 2014: $36,933,394Expenses 2014: $38,693,144Net Income 2014: -$1,759,7502014Revenue 2015: $37,440,806Expenses 2015: $38,119,347Net Income 2015: -$678,5412015Revenue 2016: $36,630,871Expenses 2016: $37,499,717Net Income 2016: -$868,8462016Revenue 2017: $42,131,949Expenses 2017: $42,621,401Net Income 2017: -$489,4522017Revenue 2018: $51,039,675Expenses 2018: $51,039,675Net Income 2018: $02018Revenue 2019: $62,204,520Expenses 2019: $62,204,520Net Income 2019: $02019Revenue 2020: $59,840,992Expenses 2020: $59,840,992Net Income 2020: $02020Revenue 2021: $67,599,249Expenses 2021: $67,599,249Net Income 2021: $02021Revenue 2022: $85,946,954Expenses 2022: $85,946,954Net Income 2022: $02022Revenue 2023: $79,539,937Expenses 2023: $79,539,937Net Income 2023: $02023Revenue 2024: $76,049,563Expenses 2024: $76,049,563Net Income 2024: $02024

Highlighted filing

2018

Revenue$51,039,675
Expenses$51,039,675
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 17, 2019
Return Version
2018v3.1
Gross Receipts
$51,641,312
Mission and Program Overview

Mission

To provide electricity to members on a cooperative basis.

Cimarron electric cooperative's mission remains fundamentally the same today as when it was founded in 1936: to provide reliable services to meet our members needs at reasonable rates and to seek to enhance the quality of life of our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$101,281,971$121,158,227▲ $19,876,256
Rtn Earn Endowment Incm Other Fnds$43,187,187$49,375,711▲ $6,188,524
Investments Other Securities$13,747,276$14,318,905▲ $571,629
Accounts Receivable$4,984,513$5,818,999▲ $834,486
Pd in Cap Srpls Land Bldg Eqp Fund$1,968,723$2,084,061▲ $115,338
Cap Stk Tr Prin Current Funds$410,970$416,810▲ $5,840
Cash and Non-Interest-Bearing Accounts$277,316$178,135▼ $99,181
Prepaid Expenses and Deferred Charges$46,383$48,191▲ $1,808
Total Assets$120,345,475$141,530,472▲ $21,184,997
Other Assets Total$8,016$8,015▼ $1
Liabilities
Mortgage Notes Payable Secured by Investment Property$60,018,957$73,074,695▲ $13,055,738
Accounts Payable and Accrued Expenses$14,484,330$13,331,453▼ $1,152,877
Other Liabilities$275,308$3,247,742▲ $2,972,434
Total Liabilities$74,778,595$89,653,890▲ $14,875,295
Net Assets / Fund Balance
Total Net Assets Fund Balance$45,566,880$51,876,582▲ $6,309,702
Total Liabilities and Net Assets / Fund Balance$120,345,475$141,530,472▲ $21,184,997

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$111,735,552$1,790,697$113,526,249
Buildings$8,730,584$2,350,465$11,081,049
Land$692,091-$692,091
Other Securities$14,318,905--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark SnowdenCEOFT$242,503$98,288$340,791
Jeff HyattCOOFT$179,833$64,464$244,297
Reed EmersonSenior VP OpFT$151,302$39,798$191,100
Reed EmersonSenior VP Operations-$138,832$52,268$191,100
Sheryl WeaverSenior VP HrFT$123,876$48,846$172,722
Richard RehermanSenior VP AcFT$128,468$30,302$158,770
Richard RehermanSenior VP Accounting-$119,722$39,048$158,770
Kacy PowellSenior VP FiFT$111,127$36,393$147,520
James SimmonsDirectorPT$20,900-$20,900
Raymond FlattDirectorPT$18,750-$18,750
Gene PetersDirectorPT$18,700-$18,700
Rudy PatzkowskyDirectorPT$18,700-$18,700
Tom KloeppelVice PresidePT$18,500-$18,500
Ron SproulPresidentPT$18,350-$18,350
Amie ReedSecretaryPT$18,300-$18,300
Chalentz HedgesTreasurerPT$18,300-$18,300
Robert YeomanDirectorPT$18,000-$18,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Vale Power Lines LLCConstruction1708 CANYON BLUFF RD, Guthrie, OK 73044$2,465,289
K & M Highline Services LLCConstructionPO BOX 3131, Oklahoma City, OK 73101$1,992,259
Machen Enterprises INCStaking EngineePO BOX 1195, Commerce, TX 75429$1,676,955
R&r Powerline ConstructionConstructionPO BOX 246, Sayre, OK 73662$1,178,843
Riggs Tree Services INCTree ClearingPO BOX 453225, Grove, OK 74345$1,025,772
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$50,323,027
Investment Income
$102,013
Other Revenue
$614,635
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$51,039,675
Total Revenue per Audited Statements
$51,039,675
Total Revenue per Form 990
$51,039,675
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,612,922
Salaries, Compensation, and Employee Benefits$1,423,700
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$7,003,053
Interest---$3,317,545
Depreciation Depletion---$3,223,551
Other Expenses---$984,422
All Other Expenses---$805,747
Current Officers, Directors, Trustees, and Key Employees---$753,588
Other Salaries and Wages---$670,112
Total Functional Expenses$0$0$0$51,039,675

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$51,039,675
Expenses per Audited Statements$44,036,622
Total Expenses per Audited Statements$44,036,622
Expenses Not Reported on Financial Statements$7,003,053
Other Expense Adjustments$7,003,053
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
Consumer Deposits$2,523,739
Deferred Credit Const Aid$571,603
Consumer Prepayments$132,933
401k Contribution Employees$19,467
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

MEMBERS

Form 990, Page 6, Part VI, Line 7A

YES

Form 990, Page 6, Part VI, Line 7B

YES

Form 990, Page 6, Part VI, Line 11B

Review and/or approval by entire board prior to filing.

Form 990, Page 6, Part VI, Line 12C

The organization periodically reviews its conflict of interests policy with employees and directors.

Form 990, Page 6, Part VI, Line 15A

The organization utilizes information such as industry information, wage studies, compensation committee's, etc. As deemed necessary.

Form 990, Page 6, Part VI, Line 15B

The organization utilizes information such as industry information, wage studies, compensation committee's, etc. As deemed necessary.

Form 990, Page 6, Part VI, Line 19

UPON REQUEST.

Form 990, Part VIII

Form 990, part ix the cooperative's accounting records are maintained in accordance with the uniform system of accounts required by its regulatory agency. The uniform system of accounts does not record expenses in the expense categories provided in part ix lines 1-23. Therefore, other expenses line 24 includes expenses that are described in lines 1-23, but reported using the uniform system of accounts.

Filing and Contact Details

Filer

Filer Name
Cimarron Electric Cooperative Inc
EIN
73-0195455
Phone
4053754121
Address
PO BOX 299, KINGFISHER, OK 73750-0299

Signing Officer

Name
Mark Snowden
Title
CEO
Phone
8003754121
Signed
2019-06-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Snowden
Formed
1936
Legal Domicile
Ok
Voting Board Members
9
Independent Board Members
9
Employees
59

Preparer

Firm
Briscoe Burke & Grigsby Llp
Address
4120 EAST 51ST STREET SUITE 100, TULSA, OK 74135-3633
Preparer
Sean B Dunahay CPA
Phone
9187498337
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Cimarron electric cooperative's mission remains fundamentally the same today as when it was founded in 1936: to provide reliable services to meet our members needs at reasonable rates and to seek to enhance the quality of life of our members.

Form 990, Part XI, Line 9

Increase in memberships 5,840 patronage dividend allocated 7,003,053 increase in other equities 115,338 retirement of capital credits -814,529 total 6,309,702

Financial Statement Notes

Schedule D, Page 3, Part X

The cooperative is exempt from income taxes under section 501(c)(12) of the internal revenue code and, accordingly, no provision has been made for income taxes.

Schedule D, Page 4, Part XII, Line 4B

Patronage dividends allocated 7,003,053

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10COO
IRS990/Form990PartVIISectionAGrp/TitleTxt11SENIOR VP OP
IRS990/Form990PartVIISectionAGrp/TitleTxt12SENIOR VP HR
IRS990/Form990PartVIISectionAGrp/TitleTxt13SENIOR VP AC
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IRS990/MissionDesc0CIMARRON ELECTRIC COOPERATIVE'S MISSION REMAINS FUNDAMENTALLY THE SAME TODAY AS WHEN IT WAS FOUNDED IN 1936: TO PROVIDE RELIABLE SERVICES TO MEET OUR MEMBERS NEEDS AT REASONABLE RATES AND TO SEEK TO ENHANCE THE QUALITY OF LIFE OF OUR MEMBERS.
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IRS990/PrincipalOfficerNm0MARK SNOWDEN
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0111735552
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0113526249
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONSUMER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED CREDIT CONST AID
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONSUMER PREPAYMENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3401K CONTRIBUTION EMPLOYEES
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt014318905
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENTS IN ASSOCIATED ORG'S
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/RevenueSubtotalAmt051039675
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1PATRONAGE DIVIDENDS ALLOCATED 7,003,053
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalBookValueSecuritiesAmt014318905
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IRS990ScheduleJ/CompensationSurveyInd0X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt3123876
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount34105
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount44105
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt042664
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt136459

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$189$104$85.6$76.0$76.0$0.00
2023Detailed filing. Detailed filing data is available for this year.$185$105$80.3$79.5$79.5$0.00
2022Detailed filing. Detailed filing data is available for this year.$178$102$75.5$85.9$85.9$0.00
2021Detailed filing. Detailed filing data is available for this year.$170$101$69.0$67.6$67.6$0.00
2020Detailed filing. Detailed filing data is available for this year.$164$100$63.7$59.8$59.8$0.00
2019Detailed filing. Detailed filing data is available for this year.$158$98.8$59.0$62.2$62.2$0.00
2018Detailed filing. Detailed filing data is available for this year.$142$89.7$51.9$51.0$51.0$0.00
2017Detailed filing. Detailed filing data is available for this year.$120$74.8$45.6$42.1$42.6$0.49
2016Detailed filing. Detailed filing data is available for this year.$122$80.9$41.5$36.6$37.5$0.87
2015Detailed filing. Detailed filing data is available for this year.$103$64.1$39.0$37.4$38.1$0.68
2014Detailed filing. Detailed filing data is available for this year.$88.3$54.5$33.8$36.9$38.7$1.76
2013Detailed filing. Detailed filing data is available for this year.$88.7$59.0$29.7$30.4$31.4$0.92
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$80.3$53.6$26.7$27.9
2011Summary only. Only limited summary data is available for this year.$74.0$48.9$25.1$27.4$27.9$0.46
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$69.3$44.5$24.8$23.7