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Nonprofit · EIN 42-0803307

COOPERATIVE TELEPHONE COMPANY

Tax-exempt · VICTOR, IA 52347

Financials

$3.2M$2.7M2021
Revenue Expenses · by fiscal year end
Financials of COOPERATIVE TELEPHONE COMPANY by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2021990$3,221,068$2,678,195$542,873$15,965,602$7,050,891$8,914,711
Financial details: 990 for the year ended December 31, 2021

Revenue

Contributions, gifts and grants
$0
Program service revenue
$3,086,207
Investment income
$137,392
Other revenue
-$2,531

Expenses

Grants and similar amounts paid
$500
Compensation of officers, directors and key employees
$141,132
Other salaries and wages
$418,479
Salaries, compensation and benefits (total)
$756,292
Professional fundraising fees
$0
Legal fees
$20,354
Accounting fees
$106,486
Depreciation
$665,131

Balance sheet and other

Total assets, start of year
$13,828,846
Total assets, end of year
$15,965,602
Total liabilities, end of year
$7,050,891
Net assets, end of year
$8,914,711
Land, buildings and equipment
$9,339,485
Publicly traded securities
$333,869
Gross unrelated business income
$12,444
Gross receipts
$3,221,068
Employees
11
Volunteers
0
Year formed
1956
State of legal domicile
IA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2021, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
SCOTT SCHABACKERGENERAL MANAGER/COO
Officer
40$102,784$26,348
LONNY KOEHNDIRECTOR/PRESIDENT
Trustee or director, Officer
2$3,700$0
TRACY SCHAFBUCHDIRECTOR/SECRETARY/TREASUR
Trustee or director, Officer
1$1,700$0
KEN FOLKMANNDIRECTOR
Trustee or director
1$1,500$0
KEN BLOOMEDIRECTOR/VICE PRESIDENT
Trustee or director, Officer
1$1,500$0
CURT MCWILLIAMSDIRECTOR
Trustee or director
1$1,500$0
KYLE GRAYDIRECTOR
Trustee or director
1$1,200$0
DENNIS REFERDIRECTOR
Trustee or director
1$900$0

Address and contacts

Address (IRS master file)
PO BOX H, VICTOR, IA 52347-0908
In care of
% SCOTT SCHABACKER
Principal officer (990 for 2021)
SCOTT SCHABACKER, 704 3RD STREET PO BOX H, VICTOR, IA 52347
Signed the 990
SCOTT SCHABACKER, GENERAL MANAGER
Phone
(319) 647-3131
Return prepared by
OLSEN THIELEN & CO LTD

Mission

TO PROVIDE TELECOMMUNICATIONS TO ITS MEMBERS.

990 for the year ended December 31, 2021

Program accomplishments

  • TELECOMMUNICATIONS SERVICES: THE COOPERATIVE PROVIDES QUALITY SERVICES TO ITS MEMBER SUBSCRIBERS. THESE SERVICES INCLUDE LOCAL EXCHANGE SEVICES, TOLL SERVICES, TERMINAL EQUIPMENT FOR SALE OR LEASE, INTERNET SERVICES, PCS SERVICES, CABLE TELEVISION SERVICES AND OTHER MISCELLANEOUS SERVICES FOR QUALITY TELECOMMUNICATIONS SERVICE.

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025Not on file
2023December 31, 2023May 15, 2024Not on file

At risk of automatic revocation

None of the last three returns is in the IRS public files. The IRS revokes tax-exempt status after three consecutive years without a return. Recent filings can take a few weeks to appear.

IRS record

EIN
42-0803307
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1960
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$15,965,602
Income (IRS master file)
$3,221,068

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2021$3,221,068$2,678,195$15,965,602XML
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-0803307).

Questions about COOPERATIVE TELEPHONE COMPANY

What is the EIN of COOPERATIVE TELEPHONE COMPANY?
The employer identification number (EIN) of COOPERATIVE TELEPHONE COMPANY is 42-0803307.
Is COOPERATIVE TELEPHONE COMPANY tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1960.
Are donations to COOPERATIVE TELEPHONE COMPANY tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does COOPERATIVE TELEPHONE COMPANY file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of COOPERATIVE TELEPHONE COMPANY due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did COOPERATIVE TELEPHONE COMPANY last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2021.
Who is the principal officer of COOPERATIVE TELEPHONE COMPANY?
The 990 for the year ended December 31, 2021 names SCOTT SCHABACKER.
Who are the officers and directors of COOPERATIVE TELEPHONE COMPANY?
The 990 for the year ended December 31, 2021 lists 8 people; 8 received compensation from the organization, the highest $102,784 (SCOTT SCHABACKER, GENERAL MANAGER/COO).
How much revenue does COOPERATIVE TELEPHONE COMPANY have?
On its 990 for the year ended December 31, 2021 it reported revenue of $3,221,068, expenses of $2,678,195 and total assets of $15,965,602 at year end.

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