Overview
What is Raccoon Valley Electric Cooperative?
Raccoon Valley Electric Cooperative is a nonprofit organization based in Glidden, Iowa, primarily focused on providing electric service to approximately 2,090 members. The cooperative collects revenue from its members and other sources solely for the purpose of covering the cost of electric service and maintaining operating reserves. Any surplus revenue beyond operational expenses and reserve allocations is returned to the members as patronage capital. The mission of Raccoon Valley Electric Cooperative is to ensure the delivery of safe, reliable, and competitive electric services, while actively contributing to the prosperity and growth of its community. The cooperative employs a team of 19 individuals to carry out these operations.
Official website here: www.rvec.coop
What are the reviews and ratings of this charity?
The Raccoon Valley Electric Cooperative is not rated by Charity Navigator as it is not a 501(c)(3) registered nonprofit, which affects its eligibility for evaluation using standard Charity Navigator methodologies. This absence of a rating should not be interpreted positively or negatively; it simply falls outside the scope of organizations typically assessed by Charity Navigator.
The Cooperative is noted to be an independent entity not affiliated with any larger national or regional groups. While no data is provided on the total revenue, expenses, or salaries of key personnel, the Form 990 data is publicly available through the IRS, which can serve as a resource for interested parties seeking financial information.
User feedback from GreatNonprofits is unavailable for the Raccoon Valley Electric Cooperative, so no community sentiment can be gleaned from that platform at this time.
This AI summary has been generated from information found on Charity Navigator.
Is Raccoon Valley Electric Cooperative legitimate?
Raccoon Valley Electric Cooperative is a legitimate nonprofit organization registered as a 501(c)(12) entity. Raccoon Valley Electric Cooperative submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $393,985
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,301,954
For more financial information, click here
Official website here: www.rvec.coop
What is the mission statement of Raccoon Valley Electric Cooperative?
Raccoon Valley Electric Cooperative is dedicated to delivering safe, reliable, and competitive electric services to its approximately 2,090 members. The cooperative's mission goes beyond just providing electricity; it aims to contribute positively to the prosperity and growth of the community. The co-op collects revenue primarily from its members to cover the cost of electric services and sets aside operating reserves for future activities. The cooperative's excess revenues over operational costs and allocations to reserves are returned to the members as patronage capital.
Official website here: www.rvec.coop
Who is the CEO of Raccoon Valley Electric Cooperative?
Jim Gossett is the Secretary/Treasurer of Raccoon Valley Electric Cooperative. The CEO's salary of Raccoon Valley Electric Cooperative is $164,998 and their total compensation is $258,861.
Official website here: www.rvec.coop
What is the revenue of Raccoon Valley Electric Cooperative?
Raccoon Valley Electric Cooperative's revenue in 2022 was $16,981,957.
Official website here: www.rvec.coop
Who are the executives of Raccoon Valley Electric Cooperative and what are their salaries?
The average compensation at Raccoon Valley Electric Cooperative during 2022 was $89,260. There are 19 employees at Raccoon Valley Electric Cooperative.
Here are 11 key members and their salaries (Raccoon Valley Electric Cooperative's CEO's salary is $164,998 and their total compensation is $258,861):
- Compensation: $8,640
- Related: $0
- Other: $0
- Compensation: $1,890
- Related: $0
- Other: $0
- Compensation: $6,750
- Related: $0
- Other: $0
- Compensation: $4,590
- Related: $0
- Other: $0
- Compensation: $5,400
- Related: $0
- Other: $0
- Compensation: $2,970
- Related: $0
- Other: $0
- Compensation: $2,430
- Related: $0
- Other: $0
- Compensation: $3,780
- Related: $0
- Other: $0
- Compensation: $164,998
- Related: $0
- Other: $93,863
- Compensation: $108,134
- Related: $0
- Other: $52,263
- Compensation: $118,176
- Related: $0
- Other: $117,293
Official website here: www.rvec.coop
Where can I find the form 990 for Raccoon Valley Electric Cooperative?
Raccoon Valley Electric Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.rvec.coop
Learn more at the official website: www.rvec.coop
Mission Statement of Raccoon Valley Electric Cooperative
Raccoon Valley Electric Cooperative, a not-for-profit organization, is dedicated to providing electric service to its approximately 2,090 members. The cooperative's mission goes beyond just energy delivery; it aims to ensure that the services offered are safe, reliable, and competitive. In addition, Raccoon Valley Electric Cooperative strives to be a leader in the communities it serves, contributing to their prosperity and growth.
Operating on a unique business model, the cooperative collects revenue from its members and various related sources solely for the purpose of covering the costs of electric service provision and maintaining operating reserves. Any excess revenues over operational expenses and reserve allocations are returned to the members in the form of patronage capital. This approach not only ensures sustainable financial management but also enables the cooperative to give back to its community members.
Raccoon Valley Electric Cooperative's commitment to its members extends beyond the provision of electric service. By prioritizing safety and reliability, the cooperative ensures that its electrical infrastructure is well-maintained and meets the highest industry standards. This dedication to quality not only benefits its members but also contributes to the overall well-being of the communities it serves.
As a responsible community partner, Raccoon Valley Electric Cooperative continues to look for ways to engage with and support the communities it serves. By focusing on providing safe, reliable, and competitive electric services while contributing to the prosperity and growth of its communities, Raccoon Valley Electric Cooperative distinguishes itself as a trusted and essential provider for its members.
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Impact
October, 2024
Raccoon Valley Electric Cooperative plays a significant role in the community by providing electric service to approximately 2,090 members in Glidden, Iowa, and surrounding areas. The cooperative ensures that its members receive safe, reliable, and competitive electric services, which are essential for daily life and local economic development.
By collecting revenue from its members, the cooperative covers the costs associated with delivering electricity while maintaining operating reserves. Any surplus revenue is returned to the members as patronage capital, reinforcing the cooperative's commitment to its community. Raccoon Valley Electric Cooperative actively contributes to the prosperity and growth of the community by supporting local initiatives and being a vital resource for its members, ultimately enhancing the quality of life in the region.
This information is meant to be a general summary of Raccoon Valley Electric Cooperative. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $20,441
- Program Service Revenue: $16,907,086
- Gross Receipts: $17,061,293
Assets and Liabilities:
- Total Assets: $47,798,291
- Total Liabilities: $26,693,660
- Net Assets: $21,104,631
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALE OF POWER
Revenue
$15,136,344
CAPITAL CREDITS
Revenue
$1,770,112
WILD BLUE INTERNET
Revenue
$630
Organization Details
Founding Year
2010
Phone
(712) 659-3649Principal Officer
Jim Gossett
Main Address
PO BOX 486, GLIDDEN, IA, 514430486
Website
www.rvec.coopNTEE Category
Code: W80 - Public benefit
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