Corn Belt Electric Cooperative Inc
501(c)(12)
Strong reserves
Corn Belt Electric Cooperative Inc is a 501(c)(12) organization based in Bloomington, Illinois, registered in 1940, with $88,250,529 in FY2024 revenue.
1 Energy Way, Bloomington, IL, 61705 EIN 37-0228808 Since 1940
Revenue (FY2024)
$88.3M
▼ 3.4% vs prior year
Expenses (FY2024)
$88.3M
Net assets
$115.1M
Employees
81
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Corn Belt Electric Cooperative Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating16 mo reserves · +0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Corn Belt Electric Cooperative Inc: 16 mo reserves · +0% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Corn Belt Electric Cooperative Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Corn Belt Electric Cooperative Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To enhance the quality of life of our members and support the communities we serve by cooperatively providing reasonably priced energy with exceptional service.
Contact & location
- Address
- 1 Energy Way, Bloomington, IL, 61705
- City
- Bloomington
- State
- Illinois
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $81.5M (FY2013) to $88.3M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $125.8MNet assets $115.1M
Operating margin
0.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$240.9M
Total liabilities
$125.8M
Net assets
$115.1M
Salaries & benefits
$2.9M
3% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $88,250,529▼3.4% | $88,250,529▼3.4% | $115,119,879▼3.3% | $240,916,473▲7.5% | 990 |
| 2023 | $91,331,713▲8.7% | $91,331,713▲8.7% | $119,034,348▲6.3% | $224,077,494▲0.7% | 990 |
| 2022 | $84,053,489▼0.3% | $84,053,489▲2.5% | $112,017,381▼1.3% | $222,517,545▼1.2% | 990 |
| 2021 | $84,317,914▲4.3% | $82,037,514▲1.5% | $113,448,015▲6.6% | $225,280,163▼0.1% | 990 |
| 2020 | $80,848,248▼1.9% | $80,848,248▼1.9% | $106,468,104▲2.5% | $225,445,470▲6.1% | 990 |
| 2019 | $82,444,859▼2.6% | $82,444,859▼2.6% | $103,878,505▼1.3% | $212,494,414▲1.1% | 990 |
| 2018 | $84,666,168▲4.0% | $84,664,564▼0.4% | $105,284,648▲8.4% | $210,271,203▲1.2% | 990 |
| 2017 | $81,398,729▼3.7% | $85,000,144▲11.1% | $97,158,498▼1.8% | $207,746,400▲0.9% | 990 |
| 2016 | $84,502,854▲1.8% | $76,499,480▲0.6% | $98,989,371▲8.6% | $205,926,416▲1.9% | 990 |
| 2015 | $83,011,198▼3.4% | $76,006,918▼3.6% | $91,119,695▲0.1% | $202,032,646▼1.5% | 990 |
| 2014 | $85,961,215▲5.5% | $78,826,847▼2.9% | $90,993,834▲8.2% | $205,142,367▲3.4% | 990 |
| 2013 | $81,461,701 | $81,188,531▲2.4% | $84,074,534▲3.1% | $198,386,494▲6.3% | 990 |
| 2012 | — | $79,251,126▲0.7% | $81,547,008▲10.8% | $186,574,063▲2.4% | 990 |
| 2011 | — | $78,716,212▲9.6% | $73,625,883▲11.5% | $182,288,000▲1.6% | 990 |
| 2010 | — | $71,816,380 | $66,028,495 | $179,505,072 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Don Taylor — $519,416 (0.59% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Don Taylor | President | 50 | $519,416 |
| Ryan Campbell | Vp Electric Distribtuion | 50 | $216,250 |
| Brian Felker | Construction Foreman | 57 | $209,878 |
| Leonard Joe Priestley | Vp Utility Services | 50 | $208,453 |
| Greg Yakle | Manager of Engineering | 50 | $180,204 |
| Chris Burnett | Journeyman | 52 | $174,899 |
| Whitney Lee Shanholtz | Area Serviceman | 50 | $162,390 |
| Mike Conway | Area Serviceman | 50 | $160,405 |
| Lynn Oleson | Dir of Accounting & Finance | 56 | $151,383 |
| Rae Payne | Chairman of the Board | 7.33 | $29,100 |
| Jerry Starkey | Director | 7.34 | $23,950 |
| Peter Borowski | Secretary-treasurer | 5.36 | $20,550 |
| Dennis Fredrickson | Vice Chairman | 7.3 | $19,950 |
| Barbara Metzger | Director | 7.65 | $18,900 |
| Beth Beachy | Director | 4.08 | $18,650 |
| Kay Werts | Director | 8.54 | $18,450 |
| Janice Reimer | Assist Sec-treasurer | 5.32 | $18,300 |
| Denise Mayes | Director | 3.52 | $14,250 |
| Terry Longman | Director | 3.61 | $12,750 |
| Frank Koblisek | Director | 3.62 | $12,600 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Fletcher-reinhardt Co | Material Vendor | $5,734,815 |
| Usic Locating Services | Line Location | $4,576,270 |
| Solential Energy Solutions | Contract Services | $2,334,701 |
| United Utility Supply | Material Vendor | $1,702,218 |
| Landisgyr Technology | Material Vendor | $1,493,098 |
Grants made · $6,250 in FY2024
1 grant totaling $6,250 in FY2024. All grants made by Corn Belt Electric Cooperative Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| East Central Illinois Area Agency On Aging Inc | Cash grant | $6,250 |
Frequently asked questions
- Is Corn Belt Electric Cooperative Inc a legitimate nonprofit?
- Yes. Corn Belt Electric Cooperative Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 37-0228808, based in Bloomington, Illinois.
- What is Corn Belt Electric Cooperative Inc's EIN?
- Corn Belt Electric Cooperative Inc's Employer Identification Number (EIN) is 37-0228808.
- How much revenue does Corn Belt Electric Cooperative Inc report?
- Corn Belt Electric Cooperative Inc reported $88,250,529 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Corn Belt Electric Cooperative Inc's highest-paid employee make?
- The highest reported compensation on Corn Belt Electric Cooperative Inc's latest Form 990 is $519,416, paid to Don Taylor (President).
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Data for Corn Belt Electric Cooperative Inc (EIN 37-0228808) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.