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Nonprofiteer
← MONROE COUNTY ELECTRIC COOP INC

Form 990 for tax year 2023

Filed by MONROE COUNTY ELECTRIC COOP INC.

Totals

Total revenue
$18,872,783
Total expenses
$18,872,783
Contributions and grants received
$0
Grants paid
$17,338
Program service revenue
$18,862,300
Investment income
-$64,457
Other revenue
$74,940
Total assets, end of year
$52,959,364
Total liabilities, end of year
$33,916,005
Net assets or fund balances, end of year
$19,043,359
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: Sale of Electricity

    total $18,173,385 · related or exempt $18,173,385

  • 2b · Program service revenue: Capital Credits

    total $554,575 · related or exempt $554,575

  • 2c · Program service revenue: Misc Electric

    total $134,340 · related or exempt $134,340

  • 3 · Investment income

    total $62,220 · excluded $62,220

  • 6a · Gross rents

    real property $57,748

  • 6c · Rental income or loss

    real property $57,748

  • 6d · Net rental income or loss

    total $57,748 · excluded $57,748

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

    other assets $126,677

  • 7c · Gain or loss

    other assets -$126,677

  • 7d · Net gain or loss

    total -$126,677 · related or exempt -$126,677

  • 11a · Other revenue: Misc Non-Operating

    total $17,192 · related or exempt $17,192

  • 11e · Other revenue, total

    $17,192

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,500

  • 2 · Grants to domestic individuals

    total $8,838

  • 4 · Benefits paid to or for members

    total $1,060,316

  • 5 · Compensation of officers, directors and key employees

    total $542,355

  • 7 · Other salaries and wages

    total $926,521

  • 20 · Interest

    total $1,222,336

  • 22 · Depreciation, depletion and amortization

    total $1,767,418

  • 24a · Other expenses: Cost of Power

    total $9,762,509 · program services $9,762,509

  • 24b · Other expenses: Distribution Expense

    total $1,918,720 · program services $1,918,720

  • 24c · Other expenses: Admin & General

    total $1,271,961 · program services $1,271,961

  • 24d · Other expenses: Member Services

    total $377,728 · program services $377,728

  • 24e · All other expenses

    total $5,581

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $615,029 · end of year $950,848

  • 2 · Savings and temporary cash investments

    beginning of year $1,300,000 · end of year $1,000,000

  • 4 · Accounts receivable

    beginning of year $1,662,483 · end of year $1,500,624

  • 8 · Inventories for sale or use

    beginning of year $784,980 · end of year $915,340

  • 9 · Prepaid expenses and deferred charges

    beginning of year $516,635 · end of year $180,800

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

    $62,856,435

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

    $21,795,986

  • 10c · Land, buildings and equipment, net

    beginning of year $40,111,805 · end of year $41,060,449

  • 13 · Investments: program-related

    beginning of year $6,888,868 · end of year $7,311,955

  • 15 · Other assets

    beginning of year $44,802 · end of year $39,348

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,874,912 · end of year $1,663,322

  • 19 · Deferred revenue

    beginning of year $418,215 · end of year $418,289

  • 23 · Secured mortgages and notes payable

    beginning of year $31,081,019 · end of year $31,466,004

  • 25 · Other liabilities

    beginning of year $371,843 · end of year $368,390

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

    beginning of year $889,165 · end of year $1,646,506

  • 31 · Retained earnings, endowment or other funds

    beginning of year $17,289,448 · end of year $17,396,853

Mission and programs · 2023

Mission

As a member owned organization, Monroe County Electric Cooperatives mission is to provide and maintain quality electric and related services for the benefit and well-being of its members.

  • Monroe County Electric Cooperative, Inc. is a member-owned electric cooperative. Using approximaately 1,200 miles of distribution and transmission electric line, Monroe County Electric Cooperative, Inc. serves more than 7,500 local farms, homes and businesses located in Illinois with dependable electric power.

As filed on the 2023 return.

Listed in Part VII

  • Alan Wattles

    President & CEO

    Total calculated
    $342,938
    From this org
    $215,292
    From related orgs
    $0
    Other
    $127,646
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $215,292
    Bonus
    not reported
    Other
    not reported
    Deferred
    $102,507
    Nontaxable benefits
    $25,139
    Filer's total
    $342,938

  • Christopher Scott

    Operations Supervisor

    Total calculated
    $210,861
    From this org
    $152,020
    From related orgs
    $0
    Other
    $58,841
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $152,020
    Bonus
    not reported
    Other
    not reported
    Deferred
    $35,372
    Nontaxable benefits
    $23,469
    Filer's total
    $210,861

  • Ronald Rusteberg

    Foreman

    Total calculated
    $206,958
    From this org
    $137,007
    From related orgs
    $0
    Other
    $69,951
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $137,007
    Bonus
    not reported
    Other
    not reported
    Deferred
    $56,600
    Nontaxable benefits
    $13,351
    Filer's total
    $206,958

  • Robert Gross

    Foreman

    Total calculated
    $183,416
    From this org
    $132,671
    From related orgs
    $0
    Other
    $50,745
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $132,671
    Bonus
    not reported
    Other
    not reported
    Deferred
    $28,126
    Nontaxable benefits
    $22,619
    Filer's total
    $183,416

  • Christopher Deterding

    Foreman

    Total calculated
    $175,072
    From this org
    $127,331
    From related orgs
    $0
    Other
    $47,741
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $127,331
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,131
    Nontaxable benefits
    $22,610
    Filer's total
    $175,072

  • Tracy Patton

    CFO

    Total calculated
    $152,377
    From this org
    $106,400
    From related orgs
    $0
    Other
    $45,977
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $106,400
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,539
    Nontaxable benefits
    $22,438
    Filer's total
    $152,377

  • Andrew Gotto

    Journeyman

    Total calculated
    $150,214
    From this org
    $128,560
    From related orgs
    $0
    Other
    $21,654
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $128,560
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,425
    Nontaxable benefits
    $13,229
    Filer's total
    $150,214

  • Larry Kraft

    Director

    Total calculated
    $8,250
    From this org
    $8,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • George Obernagel

    Director

    Total calculated
    $6,750
    From this org
    $6,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.57

  • Richard Neff

    Director

    Total calculated
    $5,250
    From this org
    $5,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.4

  • Amy Hoffman-Rohlfing

    Diarector

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3

  • Greg Gregson

    Director

    Total calculated
    $4,900
    From this org
    $4,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.73

  • Quent Stenzel

    Director

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.01

  • Jeff Hoffmann

    Director

    Total calculated
    $4,300
    From this org
    $4,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.01

  • Rich Hollis

    Director

    Total calculated
    $3,950
    From this org
    $3,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.81

  • Joel Harres

    Director

    Total calculated
    $3,350
    From this org
    $3,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.67

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

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

  • 17 Grants to Various Schools - 500

    $8,500

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.

  • Monroe County Environmental Mgmt

    C Corp · Sewer Treat · IL · 100% owned · share of assets $264,529

Provenance

Return type
form_990
Tax year
2023
Filed
22 October 2024
IRS schema version
2023v5.1
Source object
202422969349301672

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