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Nonprofiteer
← OCONTO ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by OCONTO ELECTRIC COOPERATIVE.

Totals

Total revenue
$17,335,038
Total expenses
$17,504,304
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$17,160,748
Investment income
$37,839
Other revenue
$136,451
Total assets, end of year
$45,641,773
Total liabilities, end of year
$24,096,539
Net assets or fund balances, end of year
$21,545,234
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ELECTRIC OPERATIONS

    total $16,928,508 · related or exempt $16,928,508

  • 2b · Program service revenue: PATRONAGE DIVIDEND

    total $210,059 · related or exempt $210,059

  • 2c · Program service revenue: RENTAL INCOME

    total $22,181 · related or exempt $22,181

  • 3 · Investment income

    total $22,839 · excluded $22,839

  • 7a · Gross sales of assets other than inventory

    other assets $15,000

  • 7c · Gain or loss

    other assets $15,000

  • 7d · Net gain or loss

    total $15,000 · related or exempt $15,000

  • 10a · Gross sales of inventory

    $506,436

  • 10b · Cost of goods sold

    $369,985

  • 10c · Net income from sales of inventory

    total $136,451 · unrelated business $136,451

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $585,913

  • 20 · Interest

    total $675,130

  • 22 · Depreciation, depletion and amortization

    total $2,087,523

  • 24a · Other expenses: COST OF POWER

    total $9,436,114

  • 24b · Other expenses: DISTRIBUTION-MAINTENANCE

    total $1,418,421

  • 24c · Other expenses: DISTRIBUTION-OPERATION

    total $1,038,829

  • 24d · Other expenses: ADMIN AND GENERAL

    total $957,925

  • 24e · All other expenses

    total $1,304,449

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,571,681 · end of year $177,083

  • 2 · Savings and temporary cash investments

    beginning of year $321,486 · end of year $214,309

  • 4 · Accounts receivable

    beginning of year $2,300,196 · end of year $2,234,692

  • 8 · Inventories for sale or use

    beginning of year $1,082,598 · end of year $1,186,925

  • 9 · Prepaid expenses and deferred charges

    beginning of year $98,784 · end of year $114,603

  • 10a · Land, buildings and equipment: cost or other basis

    $69,268,710

  • 10b · Land, buildings and equipment: accumulated depreciation

    $29,469,623

  • 10c · Land, buildings and equipment, net

    beginning of year $37,916,840 · end of year $39,799,087

  • 13 · Investments: program-related

    beginning of year $1,646,323 · end of year $1,749,065

  • 15 · Other assets

    beginning of year $89,915 · end of year $166,009

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,085,886 · end of year $1,049,127

  • 23 · Secured mortgages and notes payable

    beginning of year $20,287,873 · end of year $21,931,315

  • 25 · Other liabilities

    beginning of year $1,051,112 · end of year $1,116,097

  • 29 · Capital stock, trust principal or current funds

    beginning of year $20,763,560 · end of year $19,611,156

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,839,392 · end of year $1,934,078

Mission and programs · 2022

Mission

TO PROVIDE ELECTRICITY TO MEMBERS IN AN EFFICIENT MANNER UTILIZING COOPERATIVE PRINCIPLES.

  • OPERATIONS ARE BASED UPON THE COOPERATIVE PRINCIPLES PROVIDED ELECTRICITY SOURCE TO MEMBERS OF THE COOPERATIVE BY PURCHASING WHOLESALE POWER; BUILDING, MAINTAINING, AND OPERATING AN ELECTRICAL DISTRIBUTION SYSTEM; AND OPERATED MEMBER INFORMATION AND CUSTOMER SUPPORT OPERATIONS.

As filed on the 2022 return.

Listed in Part VII

  • Byron Nolde

    CEO

    Total calculated
    $420,978
    From this org
    $290,598
    From related orgs
    $0
    Other
    $130,380
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $290,598
    Bonus
    not reported
    Other
    not reported
    Deferred
    $86,529
    Nontaxable benefits
    $43,851
    Filer's total
    $420,978

  • John Havemeier

    LINE FOREMAN

    Total calculated
    $233,042
    From this org
    $131,018
    From related orgs
    $0
    Other
    $102,024
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,018
    Bonus
    not reported
    Other
    not reported
    Deferred
    $80,915
    Nontaxable benefits
    $21,109
    Filer's total
    $233,042

  • Brian Arndt

    LINEMAN

    Total calculated
    $204,383
    From this org
    $125,392
    From related orgs
    $0
    Other
    $78,991
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,392
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,973
    Nontaxable benefits
    $21,018
    Filer's total
    $204,383

  • Jack Pardy

    LINE SUPERIN

    Total calculated
    $202,163
    From this org
    $125,037
    From related orgs
    $0
    Other
    $77,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,037
    Bonus
    not reported
    Other
    not reported
    Deferred
    $73,826
    Nontaxable benefits
    $3,300
    Filer's total
    $202,163

  • Ben Wilcox

    LINEMAN

    Total calculated
    $173,373
    From this org
    $122,663
    From related orgs
    $0
    Other
    $50,710
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,663
    Bonus
    not reported
    Other
    not reported
    Deferred
    $29,722
    Nontaxable benefits
    $20,988
    Filer's total
    $173,373

  • Kent Lyng

    SYSTEM ENGIN

    Total calculated
    $140,650
    From this org
    $123,724
    From related orgs
    $0
    Other
    $16,926
    Hours/week
    40

  • Stephanie Paitl

    CFO

    Total calculated
    $109,959
    From this org
    $58,979
    From related orgs
    $0
    Other
    $50,980
    Hours/week
    40

  • Tony Wagner

    TREASURER

    Total calculated
    $11,850
    From this org
    $11,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dan Kanack

    SECRETARY

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Ronnie Kruse

    DIRECTOR

    Total calculated
    $10,325
    From this org
    $10,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dennis Langerberg

    DIRECTOR

    Total calculated
    $10,205
    From this org
    $10,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David Hischke

    DIRECTOR

    Total calculated
    $8,490
    From this org
    $8,490
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Todd Duame

    CHAIRMAN

    Total calculated
    $6,840
    From this org
    $6,840
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Douglas Allen

    VICE CHAIR

    Total calculated
    $6,195
    From this org
    $6,195
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2023
IRS schema version
2022v5.0
Source object
202331359349303138

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