Overview
What is Lake Region Electric Cooperative Inc?
Lake Region Electric Cooperative Inc is a nonprofit organization located in Hulbert, Oklahoma. Their primary mission is to provide electricity to their cooperative members. With 26,120 active services at the end of the year, they distribute power to their community members on a cooperative basis. The organization allocates patronage capital to its members, emphasizing the cooperative nature of the business. The cooperative employs 118 individuals in total.
Official website here: www.lrecok.coop
What are the reviews and ratings of this charity?
Lake Region Electric Cooperative Inc is not currently rated by Charity Navigator. The absence of a rating is neither positive nor negative; it simply indicates that the organization does not meet certain criteria, such as not being a 501(c)(3) nonprofit, necessary for evaluation under Charity Navigator's methodologies. Hence, detailed accountability and finance evaluations are not available.
Consistent data like total revenue, expenses, and salaries for key individuals were not provided, likely due to its independent status outside the typical charitable categorization. This can make it challenging for donors seeking performance-based insights but doesn't imply any deficiency in its operations.
Additionally, there are no user reviews available from GreatNonprofits for Lake Region Electric Cooperative Inc, which means further personal impact stories or community engagement feedback are currently lacking. This makes it challenging to assess the organization's grassroots reputation or community satisfaction directly.
This AI summary has been generated from information found on Charity Navigator.
Is Lake Region Electric Cooperative Inc legitimate?
Lake Region Electric Cooperative Inc is a legitimate nonprofit organization registered as a 501(c)(12) entity. Lake Region Electric Cooperative Inc 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: $1,233,592
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,200,344
For more financial information, click here
Official website here: www.lrecok.coop
What is the mission statement of Lake Region Electric Cooperative Inc?
Lake Region Electric Cooperative Inc is dedicated to delivering electricity to its members on a cooperative basis. This means that the cooperative functions with the shared goal of providing essential power to its community. With over 26,000 active services at year-end, the cooperative successfully allocated patronage capital for its members. Their focus remains on ensuring a steady electricity supply to enhance the daily lives of those they serve.
Official website here: www.lrecok.coop
Who is the CEO of Lake Region Electric Cooperative Inc?
John Lee is the General Mana of Lake Region Electric Cooperative Inc. The CEO's salary of Lake Region Electric Cooperative Inc is $159,297 and their total compensation is $261,739.
Official website here: www.lrecok.coop
What is the revenue of Lake Region Electric Cooperative Inc?
Lake Region Electric Cooperative Inc's revenue in 2022 was $59,904,146.
Official website here: www.lrecok.coop
Who are the executives of Lake Region Electric Cooperative Inc and what are their salaries?
The average compensation at Lake Region Electric Cooperative Inc during 2022 was $37,576. There are 118 employees at Lake Region Electric Cooperative Inc.
Here are 15 key members and their salaries (Lake Region Electric Cooperative Inc's CEO's salary is $159,297 and their total compensation is $261,739):
- Compensation: $197,994
- Related: $0
- Other: $214,630
- Compensation: $157,969
- Related: $0
- Other: $112,967
- Compensation: $159,297
- Related: $0
- Other: $102,442
- Compensation: $177,024
- Related: $0
- Other: $77,444
- Compensation: $124,234
- Related: $0
- Other: $127,871
- Compensation: $131,709
- Related: $0
- Other: $60,815
- Compensation: $129,501
- Related: $0
- Other: $60,970
- Compensation: $118,901
- Related: $0
- Other: $51,015
- Compensation: $55,433
- Related: $0
- Other: $0
- Compensation: $48,233
- Related: $0
- Other: $0
- Compensation: $47,833
- Related: $0
- Other: $0
- Compensation: $47,633
- Related: $0
- Other: $0
- Compensation: $34,054
- Related: $0
- Other: $0
- Compensation: $30,254
- Related: $0
- Other: $0
- Compensation: $24,854
- Related: $0
- Other: $0
Official website here: www.lrecok.coop
Where can I find the form 990 for Lake Region Electric Cooperative Inc?
Lake Region Electric Cooperative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lrecok.coop
Learn more at the official website: www.lrecok.coop
Mission Statement of Lake Region Electric Cooperative Inc
Lake Region Electric Cooperative Inc, a cooperative organization, is dedicated to supplying electricity to its members in a collaborative manner. The Cooperative's mission is simple yet significant: to provide electricity to its members on a cooperative basis.
In pursuit of this goal, Lake Region Electric Cooperative Inc extended electricity services to 26,120 active accounts at the end of the previous year. These members were not just recipients of electricity but active participants in the cooperative, with their contributions helping to build the organizational capital.
The cooperative's approach to electricity provision sets it apart. It's more than just a utility company – it's a community. By operating on a cooperative basis, Lake Region Electric Cooperative Inc fosters a sense of ownership and belonging among its members. This unique business model allows the cooperative to prioritize the needs and interests of its members, ensuring that electricity is accessible and affordable for all.
By providing electricity on a cooperative basis, Lake Region Electric Cooperative Inc goes beyond simply meeting a basic need. It creates opportunities for economic development, educational advancement, and improved quality of life for the communities it serves. The cooperative's commitment to its members makes it a vital and indispensable part of their daily lives, serving as a reliable partner and a beacon of progress.
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Impact
October, 2024
Lake Region Electric Cooperative Inc significantly impacts its community by delivering reliable electricity to its members on a cooperative basis. With 26,120 active services, the cooperative ensures that residents in Hulbert, Oklahoma, and surrounding areas have access to essential electrical services. Its commitment to a co-op model empowers members by involving them in the decision-making process and promoting fair allocation of resources through patronage capital. This approach fosters a sense of community ownership and accountability, ultimately enhancing the quality of life for its members and contributing to the overall economic vitality of the region.
This information is meant to be a general summary of Lake Region Electric Cooperative Inc. 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: -$325,249
- Program Service Revenue: $49,551,677
- Gross Receipts: $63,434,290
Assets and Liabilities:
- Total Assets: $216,382,983
- Total Liabilities: $158,532,872
- Net Assets: $57,850,111
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES OF ELECTRICITY
Revenue
$47,236,798
PATRONAGE DIVIDENDS
Revenue
$1,905,274
PATRONAGE DIVIDENDS - 990-T
Revenue
$409,605
Organization Details
Founding Year
1949
Phone
(918) 772-2526Principal Officer
John Lee
Main Address
PO BOX 127, HULBERT, OK, 744410127
Website
www.lrecok.coopNTEE Category
Code: W80 - Public benefit
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