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Nonprofiteer
← NORTH CENTRAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by NORTH CENTRAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$38,126,461
Total expenses
$37,525,736
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$36,968,932
Investment income
$99,589
Other revenue
$1,057,940
Total assets, end of year
$92,879,769
Total liabilities, end of year
$56,057,232
Net assets or fund balances, end of year
$36,822,537
Program services expenses (Part IX)
$37,461,204
Management and general expenses
$64,532
Fundraising expenses
$0
Program service expenses (Part III)
$37,461,204

Program services were 99.8% 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: RESIDENTIAL SALES

    total $22,211,583 · related or exempt $22,211,583

  • 2b · Program service revenue: COMMERCIAL SALES - LARGE

    total $8,486,428 · related or exempt $8,486,428

  • 2c · Program service revenue: COMMERCIAL SALES- SMALL

    total $4,983,863 · related or exempt $4,983,863

  • 2d · Program service revenue: PUBLIC REVENUES

    total $800,776 · related or exempt $800,776

  • 2e · Program service revenue: OTHER ELECTRIC REVENUES

    total $435,991 · related or exempt $435,991

  • 2f · All other program service revenue

    total $50,291 · related or exempt $50,291

  • 3 · Investment income

    total $59,389 · excluded $59,389

  • 7a · Gross sales of assets other than inventory

    other assets $96,099

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

    other assets $55,899

  • 7c · Gain or loss

    other assets $40,200

  • 7d · Net gain or loss

    total $40,200 · excluded $40,200

  • 11a · Other revenue: PATRONAGE CAPITAL CREDITS

    total $916,282 · related or exempt $916,282

  • 11b · Other revenue: MISC REVENUE/EXPENSE

    total $141,658 · excluded $141,658

  • 11e · Other revenue, total

    $1,057,940

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $921,702 · program services $921,702

  • 5 · Compensation of officers, directors and key employees

    total $846,490 · program services $846,490

  • 11b · Fees: legal

    total $39,282 · management and general $39,282

  • 11c · Fees: accounting

    total $25,250 · management and general $25,250

  • 11g · Fees: other

    total $139,995 · program services $139,995

  • 12 · Advertising and promotion

    total $141,007 · program services $141,007

  • 20 · Interest

    total $2,053,162 · program services $2,053,162

  • 22 · Depreciation, depletion and amortization

    total $3,934,102 · program services $3,934,102

  • 24a · Other expenses: PURCHASED POWER

    total $21,486,304 · program services $21,486,304

  • 24b · Other expenses: OPERATIONS EXPENSE

    total $2,484,911 · program services $2,484,911

  • 24c · Other expenses: GENERAL AND ADMINISTRAT

    total $1,986,411 · program services $1,986,411

  • 24d · Other expenses: MAINTENANCE EXPENSE

    total $1,805,239 · program services $1,805,239

  • 24e · All other expenses

    total $1,661,881 · program services $1,661,881

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,749,941 · end of year $3,453,079

  • 2 · Savings and temporary cash investments

    beginning of year $57,959 · end of year $60,183

  • 4 · Accounts receivable

    beginning of year $3,402,003 · end of year $4,264,104

  • 7 · Other notes and loans receivable

    beginning of year $7,575 · end of year $7,563

  • 8 · Inventories for sale or use

    beginning of year $1,282,741 · end of year $1,383,037

  • 9 · Prepaid expenses and deferred charges

    beginning of year $276,857 · end of year $175,054

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

    $104,980,013

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

    $37,410,934

  • 10c · Land, buildings and equipment, net

    beginning of year $67,664,681 · end of year $67,569,079

  • 12 · Investments: other securities

    beginning of year $14,580,159 · end of year $15,967,670

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,209,104 · end of year $5,605,777

  • 23 · Secured mortgages and notes payable

    beginning of year $45,895,103 · end of year $49,311,619

  • 25 · Other liabilities

    beginning of year $2,767,175 · end of year $1,139,836

  • 29 · Capital stock, trust principal or current funds

    beginning of year $80,980 · end of year $88,880

  • 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 $36,069,554 · end of year $36,733,657

Mission and programs · 2025

Mission

TO PROVIDE OUR MEMBER-OWNERS WITH HIGHLY RELIABLE ELECTRIC SERVICE, SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT COMPETITIVE PRICES.

Activities or mission (Part I)

TO PROVIDE ELECTRICITY AND RELATED SERVICES TO MEMBERS.

  • PROVIDE ELECTRICITY AND RELATED SERVICES TO MEMBERS.

    Expenses $37,461,204 · Revenue $37,885,214

As filed on the 2025 return.

Listed in Part VII

  • Kevin Bishop

    SECRETARY

    Total calculated
    $9,800
    From this org
    $9,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.42

  • Andrew Brose

    DIRECTOR

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.31

  • Ronald Frisch

    VICE CHAIR

    Total calculated
    $9,800
    From this org
    $9,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • David Green

    DIRECTOR

    Total calculated
    $5,750
    From this org
    $5,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.07

  • Michael Scherger

    VICE CHAIR

    Total calculated
    $3,850
    From this org
    $3,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.79

  • Dennis Schindler

    DIRECTOR

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.56

  • Steven Seitz

    TREASURER

    Total calculated
    $9,450
    From this org
    $9,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Rodney Snavely

    CHAIR

    Total calculated
    $14,700
    From this org
    $14,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.18

  • Calvin Staib

    DIRECTOR

    Total calculated
    $3,250
    From this org
    $3,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.52

  • Nicholas Wagner

    DIRECTOR

    Total calculated
    $18,850
    From this org
    $18,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.91

  • Brad Warnement

    CPE

    Total calculated
    $73,088
    From this org
    $73,088
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Edward Vanhoose

    CEO

    Total calculated
    $161,113
    From this org
    $161,113
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,113
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $161,113

  • Joshua Long

    CFO

    Total calculated
    $85,332
    From this org
    $67,333
    From related orgs
    $0
    Other
    $17,999
    Hours/week
    40

  • Andrew Ruffing

    CAO

    Total calculated
    $77,759
    From this org
    $60,263
    From related orgs
    $0
    Other
    $17,496
    Hours/week
    40

  • Justis Clifford

    CSO

    Total calculated
    $76,603
    From this org
    $60,263
    From related orgs
    $0
    Other
    $16,340
    Hours/week
    40

  • Jordan K Hoffman

    COO

    Total calculated
    $94,288
    From this org
    $69,331
    From related orgs
    $0
    Other
    $24,957
    Hours/week
    40

  • Matthew Frankart

    CPE

    Total calculated
    $65,998
    From this org
    $60,263
    From related orgs
    $0
    Other
    $5,735
    Hours/week
    40

  • Patrick J Pifher

    ENGINNEER MANAGER

    Total calculated
    $235,349
    From this org
    $142,615
    From related orgs
    $0
    Other
    $92,734
    Hours/week
    42.95

    Schedule J breakdown matched by us

    Base
    $142,615
    Bonus
    $0
    Other
    $0
    Deferred
    $66,544
    Nontaxable benefits
    $26,190
    Filer's total
    $235,349

  • Keith D Gomez

    METER MANAGER

    Total calculated
    $256,929
    From this org
    $131,186
    From related orgs
    $0
    Other
    $125,743
    Hours/week
    42.31

    Schedule J breakdown matched by us

    Base
    $131,186
    Bonus
    $0
    Other
    $0
    Deferred
    $99,553
    Nontaxable benefits
    $26,190
    Filer's total
    $256,929

  • Matthew J Feasel

    OPERATIONS MANAGER

    Total calculated
    $202,429
    From this org
    $122,076
    From related orgs
    $0
    Other
    $80,353
    Hours/week
    40.14

    Schedule J breakdown matched by us

    Base
    $122,076
    Bonus
    $0
    Other
    $0
    Deferred
    $80,353
    Nontaxable benefits
    $0
    Filer's total
    $202,429

  • Michael P Stahl

    SAFETY MANAGER

    Total calculated
    $188,737
    From this org
    $124,894
    From related orgs
    $0
    Other
    $63,843
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,894
    Bonus
    $0
    Other
    $0
    Deferred
    $37,653
    Nontaxable benefits
    $26,190
    Filer's total
    $188,737

  • Diane M Wise

    BILLING MANAGER

    Total calculated
    $277,139
    From this org
    $131,178
    From related orgs
    $0
    Other
    $145,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,178
    Bonus
    $0
    Other
    $0
    Deferred
    $119,771
    Nontaxable benefits
    $26,190
    Filer's total
    $277,139

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 · Written employment contract
  • 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

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.

  • FEDERATED ENERGY SERVICES COOPERATIVE INC

    C · SERVICE MANAGEMENT · OH · 50% owned

Provenance

Return type
form_990
Tax year
2025
Filed
15 May 2026
IRS schema version
2025v4.1
Source object
202611359349301281

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