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Nonprofiteer
← MCCONE ELECTRIC CO-OP INC

Form 990 for tax year 2022

Filed by MCCONE ELECTRIC CO-OP INC.

Totals

Total revenue
$10,684,203
Total expenses
$9,668,131
Contributions and grants received
$1,143,904
Grants paid
$0
Program service revenue
$9,327,610
Investment income
$45,645
Other revenue
$167,044
Total assets, end of year
$39,516,727
Total liabilities, end of year
$24,716,129
Net assets or fund balances, end of year
$14,800,598
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $1,143,904

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Sales of Electricity

    total $9,327,610 · related or exempt $9,327,610 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $45,645 · related or exempt $45,645 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11a · Other revenue: Other Capital Credits

    total $93,455 · related or exempt $93,455 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Non-operating Margins - Other

    total -$22,545 · related or exempt -$22,545 · unrelated business $0 · excluded $0

  • 11c · Other revenue: G&T Capital Credits

    total $96,134 · related or exempt $96,134 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $167,044

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $704,365

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,661,891

  • 8 · Pension plan contributions

    total $398,334

  • 9 · Other employee benefits

    total $352,479

  • 10 · Payroll taxes

    total $120,466

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $1,728

  • 11c · Fees: accounting

    total $8,708

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $13,681

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $875,732

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,318,105

  • 23 · Insurance

    total $0

  • 24a · Other expenses: Operations & Maintenance

    total $555,578

  • 24b · Other expenses: Consumer Accounting & Customer Service

    total $154,778

  • 24c · Other expenses: Admin. & General

    total $383,619

  • 24d · Other expenses: Cost of Power

    total $3,118,667

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,115,396 · end of year $1,353,164

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,129,366 · end of year $1,187,896

  • 8 · Inventories for sale or use

    beginning of year $829,872 · end of year $1,218,513

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,470 · end of year $21,765

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

    $49,776,979

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

    $16,740,020

  • 10c · Land, buildings and equipment, net

    beginning of year $32,083,787 · end of year $33,036,959

  • 13 · Investments: program-related

    beginning of year $2,682,857 · end of year $2,698,430

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,095,777 · end of year $2,558,053

  • 19 · Deferred revenue

    beginning of year $66,799 · end of year $63,330

  • 23 · Secured mortgages and notes payable

    beginning of year $19,479,918 · end of year $22,042,761

  • 25 · Other liabilities

    beginning of year $51,755 · end of year $51,985

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $14,162,499 · end of year $14,800,598

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

To provide reliable, high-quality central station electrical power to its members at the lowest possible cost consistent with sound business practices, on a cooperative basis.

Activities or mission (Part I)

A non-profit, member-owned rural electric cooperative formed to distribute electric power to its members at the least possible cost consistent with sound business practices.

  • Provided electric power to approximately 5,400 service locations to cooperative members in rural eastern Montana, 365 days per year, 24 hours per day.

As filed on the 2022 return.

Listed in Part VII

  • Steve Tilton

    General Manager

    Total calculated
    $186,780
    From this org
    $139,615
    From related orgs
    $0
    Other
    $47,165
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $139,615
    Bonus
    $0
    Other
    $0
    Deferred
    $31,308
    Nontaxable benefits
    $17,630
    Filer's total
    $188,553

  • Theresa Haynie

    Manager of Finance & Administration

    Total calculated
    $179,884
    From this org
    $98,613
    From related orgs
    $0
    Other
    $81,271
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $98,613
    Bonus
    $0
    Other
    $0
    Deferred
    $59,991
    Nontaxable benefits
    $22,596
    Filer's total
    $181,200

  • Edward Crockett

    Manager of Engineering

    Total calculated
    $137,494
    From this org
    $111,735
    From related orgs
    $0
    Other
    $25,759
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $111,735
    Bonus
    $0
    Other
    $0
    Deferred
    $4,537
    Nontaxable benefits
    $22,633
    Filer's total
    $138,905

  • Carla Delp

    President

    Total calculated
    $28,479
    From this org
    $28,479
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Brent McRae

    Director

    Total calculated
    $26,716
    From this org
    $26,716
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Conrad Moline

    Director

    Total calculated
    $26,566
    From this org
    $26,566
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • R Kurt Voss

    Director

    Total calculated
    $26,199
    From this org
    $26,199
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ken Ehli

    Director

    Total calculated
    $20,926
    From this org
    $20,926
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Ruth Hinnaland

    Secretary

    Total calculated
    $20,438
    From this org
    $20,438
    From related orgs
    $0
    Other
    $0
    Hours/week
    13

  • Brent Kluth

    Vice President

    Total calculated
    $20,313
    From this org
    $20,313
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Patti Murphy

    Treasurer

    Total calculated
    $13,060
    From this org
    $13,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Brett Beery

    Director

    Total calculated
    $13,010
    From this org
    $13,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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

None.

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
30 October 2023
IRS schema version
2022v5.0
Source object
202343109349302339

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