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Nonprofiteer
← NORTHERN ELECTRIC COOPERATIVE INCORPORATED

Form 990 for tax year 2024

Filed by NORTHERN ELECTRIC COOPERATIVE INCORPORATED.

Totals

Total revenue
$31,354,805
Total expenses
$31,354,805
Contributions and grants received
$0
Grants paid
$1,000
Program service revenue
$31,027,637
Investment income
$286,972
Other revenue
$40,196
Total assets, end of year
$117,373,910
Total liabilities, end of year
$80,068,321
Net assets or fund balances, end of year
$37,305,589
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SALE OF POWER

    total $29,303,259 · related or exempt $29,303,259

  • 2b · Program service revenue: CAPITAL CREDITS

    total $1,570,884 · related or exempt $1,570,884

  • 2c · Program service revenue: OTHER OPERATING

    total $153,494 · related or exempt $153,494

  • 3 · Investment income

    total $257,982 · excluded $257,982

  • 6a · Gross rents

    real property $2,460 · personal property $34,925

  • 6b · Less rental expenses

    real property $0 · personal property $18,613

  • 6c · Rental income or loss

    real property $2,460 · personal property $16,312

  • 6d · Net rental income or loss

    total $18,772 · related or exempt $16,312 · excluded $2,460

  • 7a · Gross sales of assets other than inventory

    other assets $29,859

  • 7b · Less cost or other basis and sales expenses

    other assets $869

  • 7c · Gain or loss

    other assets $28,990

  • 7d · Net gain or loss

    total $28,990 · excluded $28,990

  • 10a · Gross sales of inventory

    $110,151

  • 10b · Cost of goods sold

    $88,727

  • 10c · Net income from sales of inventory

    total $21,424 · related or exempt $19,237 · unrelated business $2,187

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,000

  • 4 · Benefits paid to or for members

    total $1,938,712

  • 5 · Compensation of officers, directors and key employees

    total $501,640

  • 7 · Other salaries and wages

    total $2,940,210

  • 8 · Pension plan contributions

    total $768,039

  • 10 · Payroll taxes

    total $246,965

  • 20 · Interest

    total $2,231,787

  • 22 · Depreciation, depletion and amortization

    total $3,096,950

  • 24a · Other expenses: COST OF POWER

    total $18,798,875

  • 24b · Other expenses: ADMIN & GENERAL

    total $1,691,915

  • 24c · Other expenses: DISTRIBUTION-MAINTENANC

    total $1,514,715

  • 24d · Other expenses: DISTRIBUTION-OPERATIONS

    total $465,217

  • 24e · All other expenses

    total -$2,841,220

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,602,434 · end of year $6,876,313

  • 4 · Accounts receivable

    beginning of year $3,033,074 · end of year $3,117,667

  • 5 · Loans and receivables from officers and key people

    beginning of year $77 · end of year $44

  • 8 · Inventories for sale or use

    beginning of year $2,869,809 · end of year $3,378,221

  • 9 · Prepaid expenses and deferred charges

    beginning of year $300,092 · end of year $266,986

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

    $107,208,079

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

    $27,836,767

  • 10c · Land, buildings and equipment, net

    beginning of year $72,200,261 · end of year $79,371,312

  • 12 · Investments: other securities

    beginning of year $510,800 · end of year $551,704

  • 13 · Investments: program-related

    beginning of year $22,893,973 · end of year $23,612,176

  • 15 · Other assets

    beginning of year $211,640 · end of year $199,487

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,058,678 · end of year $3,279,684

  • 19 · Deferred revenue

    beginning of year $1,575,858 · end of year $1,932,052

  • 23 · Secured mortgages and notes payable

    beginning of year $64,435,780 · end of year $74,649,469

  • 25 · Other liabilities

    beginning of year $179,595 · end of year $207,116

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $36,372,249 · end of year $37,305,589

Mission and programs · 2024

Mission

THE PURPOSE OF THE ORGANIZATION OF NORTHERN ELECTRIC COOPERATIVE INCORPORATED IS TO PROVIDE ITS MEMBERS WITH A DEPENDABLE QUALITY AND QUANTITY OF ELECTRICAL ENERGY AT THE LOWEST POSSIBLE RATES CONSISTENT WITH SOUND BUSINESS PRACTICES AND FINANCIAL FEASIBILITY AND TO PROVIDE SUCH OTHER SERVICES THAT WOULD BE DESIRABLE FOR THE BETTERMENT OF ITS MEMBERS.

Activities or mission (Part I)

PROVIDE ELECTRICITY TO RURAL AREAS.

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 6,888 MEMBERS, SERVED 2,536 MILES OF LINES, ADDED/REPLACED 96 MILES OF LINES, AND RETIRED 75 MILES OF LINES.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nolan Wipf

    PRESIDENT

    Total calculated
    $11,132
    From this org
    $11,100
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Ronald Kaaz

    SECRETARY UNTIL 06/2024

    Total calculated
    $3,766
    From this org
    $3,750
    From related orgs
    $0
    Other
    $16
    Hours/week
    5

  • Josh Larson

    TREASURER

    Total calculated
    $9,082
    From this org
    $9,050
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Fran Esser

    DIRECTOR UNTIL 06/2024

    Total calculated
    $3,166
    From this org
    $3,150
    From related orgs
    $0
    Other
    $16
    Hours/week
    5

  • Todd Hettich

    VICE PRESIDENT

    Total calculated
    $13,632
    From this org
    $13,600
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Kirk Schaunaman

    DIRECTOR

    Total calculated
    $7,182
    From this org
    $7,150
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Mike Traxinger

    DIRECTOR

    Total calculated
    $6,332
    From this org
    $6,300
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • William Hansen

    DIRECTOR

    Total calculated
    $9,332
    From this org
    $9,300
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Scott Sperry

    DIRECTOR/SEC FROM 06/2024

    Total calculated
    $7,432
    From this org
    $7,400
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Thomas Lambert

    DIRECTOR FROM 06/2024

    Total calculated
    $3,216
    From this org
    $3,200
    From related orgs
    $0
    Other
    $16
    Hours/week
    5

  • Bruce Schumacher Jr

    DIRECTOR FROM 06/2024

    Total calculated
    $3,016
    From this org
    $3,000
    From related orgs
    $0
    Other
    $16
    Hours/week
    5

  • Charlene Hager

    CEO

    Total calculated
    $284,456
    From this org
    $171,702
    From related orgs
    $0
    Other
    $112,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,980
    Bonus
    $0
    Other
    $6,722
    Deferred
    $78,648
    Nontaxable benefits
    $41,949
    Filer's total
    $292,299

  • Lorisa Rudolph

    CFO

    Total calculated
    $131,129
    From this org
    $93,270
    From related orgs
    $0
    Other
    $37,859
    Hours/week
    40

  • Derek Gorecki

    IT MANAGER

    Total calculated
    $192,266
    From this org
    $131,646
    From related orgs
    $0
    Other
    $60,620
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,967
    Bonus
    $0
    Other
    $1,679
    Deferred
    $46,082
    Nontaxable benefits
    $19,259
    Filer's total
    $196,987

  • Russel Ulmer

    MEMBER SERVICES MANAGER

    Total calculated
    $176,742
    From this org
    $126,840
    From related orgs
    $0
    Other
    $49,902
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,258
    Bonus
    $0
    Other
    $1,582
    Deferred
    $36,189
    Nontaxable benefits
    $15,900
    Filer's total
    $178,929

  • Jerome Weber

    OPERATIONS MANAGER

    Total calculated
    $188,864
    From this org
    $126,481
    From related orgs
    $0
    Other
    $62,383
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,749
    Bonus
    $0
    Other
    $4,732
    Deferred
    $36,112
    Nontaxable benefits
    $33,445
    Filer's total
    $196,038

  • Martin Newman

    LINE FOREMAN

    Total calculated
    $150,542
    From this org
    $115,030
    From related orgs
    $0
    Other
    $35,512
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,592
    Bonus
    $0
    Other
    $2,438
    Deferred
    $20,498
    Nontaxable benefits
    $19,373
    Filer's total
    $154,901

  • Benjamin Peterson

    LINE FOREMAN

    Total calculated
    $167,699
    From this org
    $110,900
    From related orgs
    $0
    Other
    $56,799
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,596
    Bonus
    $0
    Other
    $1,304
    Deferred
    $28,123
    Nontaxable benefits
    $35,515
    Filer's total
    $174,538

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 · Compensation survey or study
  • 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

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C
AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR CHARLENE HAGER IS $69,674, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $41,996. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR DEREK GORECKI IS $39,512, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $30,745. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR RUSSEL ULMER IS $29,965, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $29,130. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR JEROME WEBER IS $29,676, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $21,238. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR BENJAMIN PETERSON IS $22,918, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $24,381. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR MARTIN NEWMAN IS $15,289, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $17,191.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • NORTHERN WIRELESS COMMUNICATIONS INC

    C · INACTIVE · SD · 100% owned · controlled entity

    Directly controlled by NORTHERN ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2024
Filed
20 June 2025
IRS schema version
2024v5.1
Source object
202511789349300221

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