Overview
What is Howard Electric Cooperative?
Howard Electric Cooperative is a not-for-profit organization, headquartered in Fayette, Missouri. Its primary mission is to supply affordable, reliable, and environmentally friendly electric energy to its member-owners. As a cooperative, Howard Electric operates on surplus revenues, which are returned to its members through a patronage refund plan known as capital credits. The cooperative assigns these credits annually, maintaining a record of each member's investment in the co-op. With a workforce of 18 dedicated individuals, Howard Electric Cooperative serves its community with pride and commitment.
Official website here: www.howardelectric.com
Is Howard Electric Cooperative legitimate?
Howard Electric Cooperative is a legitimate nonprofit organization registered as a 501(c)(12) entity. Howard 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: $371,270
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.howardelectric.com
What is the mission statement of Howard Electric Cooperative?
Howard Electric Cooperative, as a cooperative, is committed to providing its member-owners with safe, reliable, and affordable electric power. Operating on a non-profit basis, any excess revenue beyond operational costs is returned to the members through a patronage refund plan known as capital credits. The cooperative allocates these credits annually, keeping track of each member's investment in the co-op. In essence, Howard Electric Cooperative's mission is to ensure the delivery of clean electric energy while financially benefiting its member-owners.
Official website here: www.howardelectric.com
Who is the CEO of Howard Electric Cooperative?
Amber Overfelt is the Ceo/General Manager of Howard Electric Cooperative. The CEO's salary of Howard Electric Cooperative is $140,334 and their total compensation is $224,391.
Official website here: www.howardelectric.com
What is the revenue of Howard Electric Cooperative?
Howard Electric Cooperative's revenue in 2022 was $8,108,424.
Official website here: www.howardelectric.com
Who are the executives of Howard Electric Cooperative and what are their salaries?
The average compensation at Howard Electric Cooperative during 2022 was $20,626. There are 18 employees at Howard Electric Cooperative.
Here are 13 key members and their salaries (Howard Electric Cooperative's CEO's salary is $140,334 and their total compensation is $224,391):
- Compensation: $140,334
- Related: $0
- Other: $84,057
- Compensation: $120,849
- Related: $0
- Other: $61,216
- Compensation: $104,792
- Related: $0
- Other: $45,068
- Compensation: $100,354
- Related: $0
- Other: $43,990
- Compensation: $7,600
- Related: $0
- Other: $0
- Compensation: $6,800
- Related: $0
- Other: $0
- Compensation: $5,200
- Related: $0
- Other: $0
- Compensation: $4,200
- Related: $0
- Other: $0
- Compensation: $3,800
- Related: $0
- Other: $0
- Compensation: $2,800
- Related: $0
- Other: $0
- Compensation: $2,600
- Related: $0
- Other: $0
- Compensation: $2,200
- Related: $0
- Other: $0
- Compensation: $1,800
- Related: $0
- Other: $0
Official website here: www.howardelectric.com
Where can I find the form 990 for Howard Electric Cooperative?
Howard Electric Cooperative's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.howardelectric.com
Learn more at the official website: www.howardelectric.com
Mission Statement of Howard Electric Cooperative
Howard Electric Cooperative, as a non-profit organization, is dedicated to delivering safe, reliable, affordable, and clean electric power to its member-owners. This cooperative operates on the principle of returning any excess revenue to its members through a patronage refund plan known as capital credits. The cooperative assigns these credits annually, meticulously keeping track of each member's investment in the co-op. The mission of Howard Electric Cooperative is to provide its members with a reliable energy source, while also ensuring that any surplus earnings are returned to the very individuals who contribute to its success.
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Impact
October, 2024
Howard Electric Cooperative plays a significant role in the community by delivering safe, reliable, affordable, and clean electric power to its member-owners. Based in Fayette, MO, the cooperative focuses on meeting the energy needs of its members while prioritizing sustainability and cost-effectiveness.
One notable aspect of Howard Electric is its commitment to member equity through its patronage refund plan, known as capital credits. This plan ensures that every member has a stake in the cooperative's success by receiving a share of the revenue that exceeds operational costs. This approach not only fosters a sense of ownership among members but also encourages community engagement and investment in the local economy.
With its mission to operate in the best interests of its members, Howard Electric Cooperative enhances the quality of life in the areas it serves, contributing to the overall public benefit and promoting energy equity within the community.
This information is meant to be a general summary of Howard 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: $57,597
- Program Service Revenue: $8,060,367
- Gross Receipts: $8,108,424
Assets and Liabilities:
- Total Assets: $29,268,152
- Total Liabilities: $16,729,695
- Net Assets: $12,538,457
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Energy Sales
Revenue
$7,818,081
Capital Credits
Revenue
$124,672
Other Electric Revenue
Revenue
$73,876
Equipment
Revenue
$43,738
Organization Details
Founding Year
1936
Phone
(660) 248-3311Principal Officer
Amber Overfelt
Main Address
PO Box 391, Fayette, MO, 65248
Website
www.howardelectric.comNTEE Category
Code: W80 - Public benefit
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