Overview
What is Wells Rural Electric Company?
Wells Rural Electric Company is a Nevada-based nonprofit organization, headquartered at PO Box 365, Wells, NV, 89835. With a team of 63 dedicated employees, the company provides electric energy to its members on a cooperative basis, accumulating patronage capital. The mission of Wells Rural Electric Company is to deliver quality and reliable electric service to its cooperative members. By adhering to the principles of local control, the company enhances the livability of the communities it serves, addressing the evolving needs of its members. The organization ended the year with 6,312 active services.
Official website here: www.wrec.coop
What are the reviews and ratings of this charity?
Wells Rural Electric Company is not currently rated by Charity Navigator due to its classification. As it is not registered as a 501(c)(3), it is ineligible for traditional evaluations such as Accountability & Finance or Impact & Measurement, which are typically used by Charity Navigator. This lack of rating should not be interpreted as inherently positive or negative.
The organization's independent status is confirmed, indicating that it operates independently of larger nonprofit bodies or networks. Despite being mentioned in the IRS's Business Master File, there are no specific data available regarding its total revenue, expenses, or key personnel salaries. This absence of financial information is expected given its classification.
There are no user reviews available from GreatNonprofits for Wells Rural Electric Company. Consequently, user sentiment and personal experiences with the organization remain undocumented on this platform.
This AI summary has been generated from information found on Charity Navigator.
Is Wells Rural Electric Company legitimate?
Wells Rural Electric Company is a legitimate nonprofit organization registered as a 501(c)(12) entity. Wells Rural Electric Company 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: $1,700,955
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,443,364
For more financial information, click here
Official website here: www.wrec.coop
What is the mission statement of Wells Rural Electric Company?
Wells Rural Electric Company enhances the living standards of the communities it serves by meeting the evolving requirements of its members. Through the guiding principles of local control in a cooperative setting, the company strives to provide high-quality and dependable electric service. By allocating patronage capital on a cooperative basis, Wells Rural Electric Company delivers electric energy to its members, supporting 6,312 active services at year end.
Official website here: www.wrec.coop
Who is the CEO of Wells Rural Electric Company?
Clay R Fitch is the Director of Wells Rural Electric Company. The CEO's salary of Wells Rural Electric Company is $306,687 and their total compensation is $430,416.
Official website here: www.wrec.coop
What is the revenue of Wells Rural Electric Company?
Wells Rural Electric Company's revenue in 2022 was $45,338,751.
Official website here: www.wrec.coop
Who are the executives of Wells Rural Electric Company and what are their salaries?
The average compensation at Wells Rural Electric Company during 2022 was $65,783. There are 63 employees at Wells Rural Electric Company.
Here are 21 key members and their salaries (Wells Rural Electric Company's CEO's salary is $306,687 and their total compensation is $430,416):
- Compensation: $38,215
- Related: $0
- Other: $0
- Compensation: $18,600
- Related: $0
- Other: $0
- Compensation: $23,800
- Related: $0
- Other: $0
- Compensation: $44,828
- Related: $0
- Other: $0
- Compensation: $21,250
- Related: $0
- Other: $0
- Compensation: $18,600
- Related: $0
- Other: $0
- Compensation: $34,423
- Related: $0
- Other: $0
- Compensation: $18,600
- Related: $0
- Other: $0
- Compensation: $20,025
- Related: $0
- Other: $0
- Compensation: $23,231
- Related: $0
- Other: $0
- Compensation: $20,750
- Related: $0
- Other: $0
- Compensation: $306,687
- Related: $0
- Other: $123,729
- Compensation: $131,179
- Related: $0
- Other: $158,529
- Compensation: $138,682
- Related: $0
- Other: $110,938
- Compensation: $105,163
- Related: $0
- Other: $105,114
- Compensation: $138,540
- Related: $0
- Other: $100,072
- Compensation: $152,792
- Related: $0
- Other: $73,416
- Compensation: $151,367
- Related: $0
- Other: $71,401
- Compensation: $152,872
- Related: $0
- Other: $82,519
- Compensation: $142,808
- Related: $0
- Other: $47,614
- Compensation: $144,768
- Related: $0
- Other: $32,594
Official website here: www.wrec.coop
Where can I find the form 990 for Wells Rural Electric Company?
Wells Rural Electric Company's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wrec.coop
Learn more at the official website: www.wrec.coop
Mission Statement of Wells Rural Electric Company
Wells Rural Electric Company, with a mission to enhance the living standards of the communities it serves, focuses on delivering top-quality and dependable electric services to its cooperative members. By adhering to the principles unique to a locally-controlled cooperative, this organization caters to the evolving requirements of its members, thereby improving their overall quality of life.
Through its cooperative business model, Wells Rural Electric Company provides electric energy to its members in a collective manner. This approach not only ensures a steady electricity supply but also enables the allocation of patronage capital to the members based on their consumption. At the end of the year, there were 6,312 active services being offered by the company.
By offering electric energy on a cooperative basis, Wells Rural Electric Company stands out by prioritizing its members' needs and ensuring their satisfaction. The company's commitment to meeting the changing needs of its members underscores its dedication to making a positive impact on the communities it serves.
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Impact
October, 2024
Wells Rural Electric Company has a significant impact on the communities it serves by providing quality and reliable electric service to its members. With a focus on meeting the evolving needs of its community, the company facilitates access to essential electric energy for 6,312 active services. This support enhances the quality of life for residents by ensuring a stable and dependable energy supply.
Through its operation as a cooperative, Wells Rural Electric Company allocates patronage capital, promoting a sense of ownership and participation among its members. This model fosters community engagement and encourages members to play an active role in decision-making processes related to their energy needs. The company's commitment to local control ensures that its services are tailored to the specific requirements of the community, contributing to its overall well-being and development. By prioritizing reliability and service quality, Wells Rural Electric Company plays a crucial role in empowering its members and enriching the fabric of local life in Wells, Nevada.
This information is meant to be a general summary of Wells Rural Electric Company. 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: $108,859
- Program Service Revenue: $45,185,922
- Gross Receipts: $45,338,751
Assets and Liabilities:
- Total Assets: $65,706,155
- Total Liabilities: $37,375,849
- Net Assets: $28,330,306
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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
$44,217,442
TRANSMISSION LEASE
Revenue
$301,500
PATRONAGE DIVIDENDS
Revenue
$254,354
SERVICE & OTHER FEES
Revenue
$176,050
ELECTRIC WIRING
Revenue
$124,602
Organization Details
Founding Year
1958
Phone
(775) 752-3328Principal Officer
Clay R Fitch
Main Address
PO BOX 365, WELLS, NV, 89835
Website
www.wrec.coopNTEE Category
Code: W80 - Public benefit
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