Civic Intelligence

Park Electric Cooperative Inc

990 • Fiscal year 2014 • EIN 81-0180438

Jan 01, 2014 to Dec 31, 2014 • Filed on May 12, 2015

Organization ProfileWWW.PARKELECTRIC.COOP
PO Box 1119Livingston, MT 59047

(406) 222-3100

Siviq Scores

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

Liabilities / Assets

12th percentile

0.21x

Higher debt load relative to assets than 12% of similar nonprofits.

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

Liabilities / Revenue

6th percentile

0.37x

Higher debt load relative to revenue than 6% of similar nonprofits.

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

Net Margin

56th percentile

2.3%

Higher net margin than 56% of similar nonprofits.

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

Top Officer Pay

29th percentile

$136,417

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

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

Asset Growth

55th percentile

2.8%

Faster asset growth than 55% of similar nonprofits.

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

Revenue Growth

35th percentile

2.2%

Faster revenue growth than 35% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$25,209,107

Up $691,920 (+2.8%) from 2013

Net Assets

Up

$19,847,348

Up $1,068,342 (+5.7%) from 2013

Liabilities

Down

$5,361,759

Down $376,422 (-6.6%) from 2013

Revenue And Expenses
Liabilities / Revenue6th percentileNet Margin56th percentile

Revenue

Up

$14,646,206

Up $317,999 (+2.2%) from 2013

Expenses

Up

$14,302,683

Up $431,201 (+3.1%) from 2013

Net Income

Down

$343,523

Down $113,202 (-25%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$30M$20M$10M$0Assets 2010: $23,356,999Liabilities 2010: $6,912,616Net Assets 2010: $16,444,3832010Assets 2011: $24,033,469Liabilities 2011: $6,442,791Net Assets 2011: $17,590,6782011Assets 2012: $23,956,610Liabilities 2012: $5,985,172Net Assets 2012: $17,971,4382012Assets 2013: $24,517,187Liabilities 2013: $5,738,181Net Assets 2013: $18,779,0062013Assets 2014: $25,209,107Liabilities 2014: $5,361,759Net Assets 2014: $19,847,3482014Assets 2015: $24,971,255Liabilities 2015: $4,403,282Net Assets 2015: $20,567,9732015Assets 2016: $25,613,211Liabilities 2016: $4,159,737Net Assets 2016: $21,453,4742016Assets 2017: $25,924,996Liabilities 2017: $3,569,589Net Assets 2017: $22,355,4072017Assets 2018: $26,417,823Liabilities 2018: $4,040,115Net Assets 2018: $22,377,7082018Assets 2019: $26,324,354Liabilities 2019: $3,190,641Net Assets 2019: $23,133,7132019Assets 2020: $28,068,632Liabilities 2020: $3,342,343Net Assets 2020: $24,726,2892020Assets 2021: $27,938,575Liabilities 2021: $2,478,742Net Assets 2021: $25,459,8332021Assets 2022: $28,279,650Liabilities 2022: $2,364,054Net Assets 2022: $25,915,5962022Assets 2023: $28,422,531Liabilities 2023: $1,623,408Net Assets 2023: $26,799,1232023

Highlighted filing

2014

Assets$25,209,107
Liabilities$5,361,759
Net Assets$19,847,348
Open 2014 Filing

Operations Trend

Revenue Growth35th percentile

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

$20M$15M$10M$5.0M$0Expenses 2010: $10,006,8912010Expenses 2011: $11,860,8032011Expenses 2012: $13,492,8442012Revenue 2013: $14,328,207Expenses 2013: $13,871,482Net Income 2013: $456,7252013Revenue 2014: $14,646,206Expenses 2014: $14,302,683Net Income 2014: $343,5232014Revenue 2015: $14,551,774Expenses 2015: $14,275,481Net Income 2015: $276,2932015Revenue 2016: $14,663,833Expenses 2016: $14,513,382Net Income 2016: $150,4512016Revenue 2017: $15,185,040Expenses 2017: $14,906,422Net Income 2017: $278,6182017Revenue 2018: $15,785,811Expenses 2018: $15,095,342Net Income 2018: $690,4692018Revenue 2019: $16,171,914Expenses 2019: $15,895,556Net Income 2019: $276,3582019Revenue 2020: $17,208,024Expenses 2020: $16,065,545Net Income 2020: $1,142,4792020Revenue 2021: $16,763,973Expenses 2021: $16,486,850Net Income 2021: $277,1232021Revenue 2022: $17,437,830Expenses 2022: $17,427,689Net Income 2022: $10,1412022Revenue 2023: $17,416,914Expenses 2023: $16,893,617Net Income 2023: $523,2972023

Highlighted filing

2014

Revenue$14,646,206
Expenses$14,302,683
Net Income$343,523
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 12, 2015
Return Version
2014v5.0
Gross Receipts
$14,646,206
Mission and Program Overview

Mission

Rural electric cooperative supplying electrical services & utilities to members & patrons located in the central portion of montana

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$17,736,228$17,300,455▼ $435,773
Rtn Earn Endowment Incm Other Fnds$10,181,905$11,061,189▲ $879,284
Pd in Cap Srpls Land Bldg Eqp Fund$8,597,101$8,786,159▲ $189,058
Cash and Non-Interest-Bearing Accounts$2,144,779$2,643,497▲ $498,718
Investments Other Securities$1,995,309$2,341,195▲ $345,886
Accounts Receivable$1,063,562$1,234,514▲ $170,952
Prepaid Expenses and Deferred Charges$772,116$687,684▼ $84,432
Savings and Temporary Cash Investments$490,759$684,339▲ $193,580
Inventories for Sale or Use$314,434$317,423▲ $2,989
Total Assets$24,517,187$25,209,107▲ $691,920
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,408,899$4,054,934▼ $353,965
Accounts Payable and Accrued Expenses$860,336$822,173▼ $38,163
Other Liabilities$468,946$484,652▲ $15,706
Total Liabilities$5,738,181$5,361,759▼ $376,422
Net Assets / Fund Balance
Total Net Assets Fund Balance$18,779,006$19,847,348▲ $1,068,342
Total Liabilities and Net Assets / Fund Balance$24,517,187$25,209,107▲ $691,920

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$17,300,455$16,402,837$33,703,292
Other Securities$132,000--
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Tim StephensManagerFT$136,417$136,417
Albert OtisPresidentPT$13,336$13,336
C Perry AndersonTrusteePT$13,236$13,236
Alan JohnstoneSecretary/tr-$10,866$10,866
Mackey L WarrenTrustee-$8,410$8,410
Brad HansonTrustee-$7,539$7,539
Robert OlmsteadVice Preside-$4,238$4,238
Melanie C RoeTrusteePT$1,400$1,400
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$14,016,339
Investment Income
$126,301
Other Revenue
$503,566
Change in Net Assets
$343,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,064,457
Salaries, Compensation, and Employee Benefits$195,442
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,239,250
Benefits to Members---$1,042,784
Other Expenses---$443,984
All Other Expenses---$305,503
Interest---$249,538
Current Officers, Directors, Trustees, and Key Employees---$195,442
Conferences and Meetings---$65,866
Total Functional Expenses$0$0$0$14,302,683
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
Other Current & Accrued Liabilities$418,073
Consumer Energy Prepayments$55,539
Consumer Deposits$11,040
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The cooperative is made up of members who purchase their power from the orgaization and have the option of attending meetings of the membership annually.”

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

“The membership elects the board of directors annually.”

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

“The form 990 was prepared by the organizations independent cpa, reviewed by management for any corrections and given to the board for their review and questions. After the board reviewed, all board members were polled for their approval of form 990.”

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

“Conflict of interest policies are reviewed annually by all members of the board. Management monitors throughout the year.”

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

“Compensation of general manager is determined by a commmittee of the board of directors and approved by the full board. Comparable data from other cooperatives and performance reviews are evaluated as well.”

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

“Compensation of general manager is determined by a commmittee of the board of directors and approved by the full board. Comparable data from other cooperatives and performance reviews are evaluated as well.”

Form 990, Page 6, Part VI, Line 19

“All documents may be requested from the cooperative office during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Park Electric Cooperative Inc
EIN
81-0180438
Phone
4062223100
Address
PO BOX 1119, LIVINGSTON, MT 59047

Signing Officer

Name
Tim Stephens
Title
General Manager
Phone
4062223100
Signed
2015-05-12

Organization Details

Principal Officer
Tim Stephens
Formed
1939
Legal Domicile
Mt
Voting Board Members
7
Independent Board Members
7
Employees
17

Preparer

Firm
Brenner Averett & Co Pc
Address
PO BOX 1049, SIDNEY, MT 59270-1049
Preparer
William Brenner
Phone
4064335464
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Allocation of net operating margins 1,042,784 change in other equities -317,965”

Raw XML Appendix340 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/OtherLiabilitiesOrgGrp/Desc0OTHER CURRENT & ACCRUED LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CONSUMER ENERGY PREPAYMENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONSUMER DEPOSITS
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt01980747
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1228448
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2132000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0PATRONAGE CAPITAL
IRS990ScheduleD/OtherSecuritiesGrp/Desc1INVESTMENT IN CFC CERTIFICATE
IRS990ScheduleD/OtherSecuritiesGrp/Desc2NON UTILITY PROPERTY
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017300455
IRS990ScheduleD/TotalBookValueSecuritiesAmt02341195
IRS990ScheduleD/TotalLiabilityAmt0484652
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COOPERATIVE IS MADE UP OF MEMBERS WHO PURCHASE THEIR POWER FROM THE ORGAIZATION AND HAVE THE OPTION OF ATTENDING MEETINGS OF THE MEMBERSHIP ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERSHIP ELECTS THE BOARD OF DIRECTORS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WAS PREPARED BY THE ORGANIZATIONS INDEPENDENT CPA, REVIEWED BY MANAGEMENT FOR ANY CORRECTIONS AND GIVEN TO THE BOARD FOR THEIR REVIEW AND QUESTIONS. AFTER THE BOARD REVIEWED, ALL BOARD MEMBERS WERE POLLED FOR THEIR APPROVAL OF FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST POLICIES ARE REVIEWED ANNUALLY BY ALL MEMBERS OF THE BOARD. MANAGEMENT MONITORS THROUGHOUT THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION OF GENERAL MANAGER IS DETERMINED BY A COMMMITTEE OF THE BOARD OF DIRECTORS AND APPROVED BY THE FULL BOARD. COMPARABLE DATA FROM OTHER COOPERATIVES AND PERFORMANCE REVIEWS ARE EVALUATED AS WELL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION OF GENERAL MANAGER IS DETERMINED BY A COMMMITTEE OF THE BOARD OF DIRECTORS AND APPROVED BY THE FULL BOARD. COMPARABLE DATA FROM OTHER COOPERATIVES AND PERFORMANCE REVIEWS ARE EVALUATED AS WELL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL DOCUMENTS MAY BE REQUESTED FROM THE COOPERATIVE OFFICE DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ALLOCATION OF NET OPERATING MARGINS 1,042,784 CHANGE IN OTHER EQUITIES -317,965
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt024517187
IRS990/TotalAssetsEOYAmt025209107
IRS990/TotalAssetsGrp/BOYAmt024517187
IRS990/TotalAssetsGrp/EOYAmt025209107
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt017
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt014302683
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05738181
IRS990/TotalLiabilitiesEOYAmt05361759
IRS990/TotalLiabilitiesGrp/BOYAmt05738181
IRS990/TotalLiabilitiesGrp/EOYAmt05361759
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt018779006
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt019847348
IRS990/TotalProgramServiceRevenueAmt014016339
IRS990/TotalReportableCompFromOrgAmt0195442
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt014646206
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt014646206
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt024517187
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt025209107
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1119
IRS990/USAddress/CityNm0LIVINGSTON
IRS990/USAddress/StateAbbreviationCd0MT
IRS990/USAddress/ZIPCd059047
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.PARKELECTRIC.COOP
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM STEPHENS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0GENERAL MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum04062223100
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PARK ELECTRIC COOPERATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt0PARK
ReturnHeader/Filer/EIN0810180438
ReturnHeader/Filer/PhoneNum04062223100
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1119
ReturnHeader/Filer/USAddress/CityNm0LIVINGSTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MT
ReturnHeader/Filer/USAddress/ZIPCd059047
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0810390671
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BRENNER AVERETT & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1049
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SIDNEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0592701049
ReturnHeader/PreparerPersonGrp/PhoneNum04064335464
ReturnHeader/PreparerPersonGrp/PreparationDt02015-07-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM BRENNER
ReturnHeader/ReturnTs02015-07-07T09:58:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,209,107
Liabilities
$5,361,759
Net assets
$19,847,348
Revenue
$14,646,206
Expenses
$14,302,683
Net income
$343,523
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$28.4$1.62$26.8$17.4$16.9$0.52
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.3$2.36$25.9$17.4$17.4$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.9$2.48$25.5$16.8$16.5$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.1$3.34$24.7$17.2$16.1$1.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.3$3.19$23.1$16.2$15.9$0.28
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.4$4.04$22.4$15.8$15.1$0.69
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.9$3.57$22.4$15.2$14.9$0.28
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.6$4.16$21.5$14.7$14.5$0.15
2015Detailed filing. Detailed filing data is available for this year.$25.0$4.40$20.6$14.6$14.3$0.28
2014Detailed filing. Detailed filing data is available for this year.$25.2$5.36$19.8$14.6$14.3$0.34
2013Detailed filing. Detailed filing data is available for this year.$24.5$5.74$18.8$14.3$13.9$0.46
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.0$5.99$18.0$13.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.0$6.44$17.6$11.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.4$6.91$16.4$10.0
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)12 • $25M-$50M nonprofits