Nonprofit · EIN 44-0241597
FARMERS ELECTRIC COOPERATIVE INC
Tax-exempt · CHILLICOTHE, MO 64601
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $33,398,089 | $32,328,928 | $1,069,161 | $112,965,965 | $65,803,842 | $47,162,123 |
| December 31, 2023 | 990 | $33,398,741 | $31,938,367 | $1,460,374 | $111,349,834 | $64,980,463 | $46,369,371 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $33,118,368
- Investment income
- $279,721
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Benefits paid to members
- $1,442,148
- Compensation of officers, directors and key employees
- $597,079
- Salaries, compensation and benefits (total)
- $597,079
- Professional fundraising fees
- $0
- Depreciation
- $3,277,706
- Program services (functional)
- $32,328,928
Balance sheet and other
- Total assets, start of year
- $111,349,834
- Total assets, end of year
- $112,965,965
- Total liabilities, end of year
- $65,803,842
- Net assets, end of year
- $47,162,123
- Land, buildings and equipment
- $83,593,134
- Gross receipts
- $33,398,089
- Employees
- 43
- Volunteers
- 0
- Year formed
- 1938
- State of legal domicile
- MO
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, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Donald Smith | General Manager Officer | 50 | $238,046 | $91,575 |
| Aaron Wagers | Lead Lineman Highest-paid employee | 49 | $141,364 | $79,408 |
| Troy Hermanson | Operations Manager Highest-paid employee | 50 | $144,083 | $55,768 |
| Brett Arthur | Substation Serviceman Highest-paid employee | 46 | $131,920 | $53,671 |
| Gregory Jones | Substation Serviceman Highest-paid employee | 46 | $128,886 | $50,459 |
| Jason Howe | Substation Serviceman Highest-paid employee | 46 | $130,989 | $46,226 |
| Lacey Capps | CFO Officer | 50 | $125,781 | $40,177 |
| Glen Waters | President Trustee or director, Officer | 7 | $17,000 | $0 |
| Stanley Switzer | Director Trustee or director | 5 | $16,500 | $0 |
| James Burk | Director Trustee or director | 11 | $16,000 | $0 |
| Larry Muck | Vice-President Trustee or director, Officer | 8 | $15,500 | $0 |
| Randy Railsback | Treasurer Trustee or director, Officer | 4 | $14,500 | $0 |
| Toni Cox | Secretary Trustee or director, Officer | 3 | $10,000 | $0 |
| Warren Hoyt | Treasurer Trustee or director, Officer | 4 | $8,000 | $0 |
| Sherry Jones | Director Trustee or director | 4 | $4,000 | $0 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Troy Hermanson | Operations Manager Highest-paid employee | 50 | $144,944 | $50,851 |
| Aaron Wagers | Lead Lineman Highest-paid employee | 46 | $120,513 | $69,898 |
| Rodney Cotton | General Manager Officer | 60 | $119,500 | $66,470 |
| Garry Widner | Substation Serviceman Highest-paid employee | 44 | $113,745 | $66,482 |
| Jason Howe | Substation Serviceman Highest-paid employee | 43 | $110,240 | $41,351 |
| Lacey Capps | CFO Officer | 50 | $115,370 | $35,648 |
| Eric Adams | Journeyman Lineman Highest-paid employee | 45 | $111,178 | $19,284 |
| Donald Smith | CEO Officer | 50 | $78,121 | $29,286 |
| Glen Waters | President Trustee or director, Officer | 7 | $17,500 | $0 |
| Arzy Bisbee Jr | Secretary Trustee or director, Officer | 7 | $14,500 | $0 |
| Warren Hoyt | Treasurer Trustee or director, Officer | 5 | $14,500 | $0 |
| Larry Muck | Vice-President Trustee or director, Officer | 7 | $14,000 | $0 |
| Toni Cox | Secretary Trustee or director, Officer | 4 | $14,000 | $0 |
| W D Richards | Director Trustee or director | 7 | $12,500 | $0 |
| Leroy Kern | President Trustee or director, Officer | 6 | $11,500 | $0 |
| Stanley Switzer | Director Trustee or director | 5 | $3,718 | $0 |
| James Burk | Director Trustee or director | 4 | $2,000 | $0 |
| Randy Railsback | Director Trustee or director | 1 | $2,000 | $0 |
Address and contacts
- Address (IRS master file)
- 201 W BUSINESS 36, CHILLICOTHE, MO 64601-3360
- In care of
- % ROD COTTON
- Principal officer (990 for 2024)
- Don Smith, 201 W Business Hwy 36, Chillicothe, MO 64601
- Signed the 990
- Don Smith, General Manager/CEO
- Phone
- (660) 646-4281
- Website
- www.fec-co.com
- Return prepared by
- Dennis G Koch & Associates LLC
Mission
Distribution and sale of electricity to over 13,000 meters of cooperative member/owners. Margins are allocated annualy to the membership.
Program accomplishments
- Distribution and sale of electricity to cooperative member/ownersExpenses $32,328,928 · revenue $33,398,089
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 44-0241597
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1939
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $112,965,965
- Income (IRS master file)
- $33,398,089
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $33,398,089 | $32,328,928 | $112,965,965 | XML |
| 990 | December 2023 | $33,398,741 | $31,938,367 | $111,349,834 | XML |
| 990 | December 2022 | $34,019,457 | $30,882,136 | $112,966,033 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 44-0241597).
Questions about FARMERS ELECTRIC COOPERATIVE INC
- What is the EIN of FARMERS ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of FARMERS ELECTRIC COOPERATIVE INC is 44-0241597.
- Is FARMERS ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1939.
- Are donations to FARMERS ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does FARMERS ELECTRIC COOPERATIVE INC 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 FARMERS ELECTRIC COOPERATIVE INC 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 FARMERS ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FARMERS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names Don Smith.
- Who are the officers and directors of FARMERS ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 15 people; 15 received compensation from the organization, the highest $238,046 (Donald Smith, General Manager).
- How much revenue does FARMERS ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $33,398,089, expenses of $32,328,928 and total assets of $112,965,965 at year end.
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