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Nonprofiteer
← MOON LAKE ELECTRIC ASSOCIATION INC

Form 990 for tax year 2023

Filed by MOON LAKE ELECTRIC ASSOCIATION INC.

Totals

Total revenue
$95,645,616
Total expenses
$85,255,698
Contributions and grants received
$0
Grants paid
$117,218
Program service revenue
$93,492,747
Investment income
$2,087,549
Other revenue
$65,320
Total assets, end of year
$158,759,790
Total liabilities, end of year
$51,986,527
Net assets or fund balances, end of year
$106,773,263
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$85,255,698

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 $92,918,623 · related or exempt $92,918,623 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Patronage Capital

    total $574,124 · related or exempt $574,124 · 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 $1,976,983 · related or exempt $1,976,983 · 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

  • 6a · Gross rents

    real property $61,353 · personal property $3,967

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $61,353 · personal property $3,967

  • 6d · Net rental income or loss

    total $65,320 · related or exempt $65,320 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $227,712

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

    securities $0 · other assets $117,146

  • 7c · Gain or loss

    securities $0 · other assets $110,566

  • 7d · Net gain or loss

    total $110,566 · related or exempt $110,566 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $91,012

  • 2 · Grants to domestic individuals

    total $26,206

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $16,800

  • 5 · Compensation of officers, directors and key employees

    total $1,259,066

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $4,554,205

  • 8 · Pension plan contributions

    total $1,615,891

  • 9 · Other employee benefits

    total $1,514,814

  • 10 · Payroll taxes

    total $531,530

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $14,800

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 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 $1,389,335

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $4,522,383

  • 23 · Insurance

    total $0

  • 24a · Other expenses: POWER PURCHASED & PRODUCTION

    total $62,616,948

  • 24b · Other expenses: DISTRIBUTION OPERATION & MAINTENANCE

    total $3,665,655

  • 24c · Other expenses: ADMIN & GENERAL

    total $2,561,764

  • 24d · Other expenses: TRANSMISSION OPERATION & MAINTENANCE

    total $192,877

  • 24e · All other expenses

    total $682,412

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $950 · end of year $950

  • 2 · Savings and temporary cash investments

    beginning of year $7,578,183 · end of year $9,594,189

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $9,307,130 · end of year $9,937,279

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $1,408 · end of year $4,847,575

  • 8 · Inventories for sale or use

    beginning of year $5,317,228 · end of year $7,912,564

  • 9 · Prepaid expenses and deferred charges

    beginning of year $596,675 · end of year $690,292

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

    $163,456,941

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

    $80,861,581

  • 10c · Land, buildings and equipment, net

    beginning of year $87,478,402 · end of year $82,595,360

  • 11 · Investments: publicly traded securities

    beginning of year $41,277,824 · end of year $37,746,283

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $1,390,832 · end of year $1,390,832

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $4,524,739 · end of year $4,044,466

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,260,671 · end of year $12,205,693

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $32,641,174 · end of year $31,525,025

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $7,188,258 · end of year $8,255,809

  • 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 $101,939,724 · end of year $96,383,345

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,443,544 · end of year $10,389,918

Mission and programs · 2023

Mission

Provide a safe and efficient electrical system to deliver power to members.

  • Provide a safe and efficient electrical system to deliver power to members.

    Expenses $85,255,698 · Revenue $95,645,616

As filed on the 2023 return.

Listed in Part VII

  • Yankton A Johnson

    General Manager/CEO

    Total calculated
    $427,872
    From this org
    $302,877
    From related orgs
    $0
    Other
    $124,995
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,485
    Bonus
    $46,200
    Other
    $12,192
    Deferred
    $74,624
    Nontaxable benefits
    $50,371
    Filer's total
    $427,872

  • Michael J Griffiths

    Manager - Engineering

    Total calculated
    $295,751
    From this org
    $202,148
    From related orgs
    $0
    Other
    $93,603
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,878
    Bonus
    $21,200
    Other
    $2,070
    Deferred
    $55,934
    Nontaxable benefits
    $37,669
    Filer's total
    $295,751

  • Curtis F Miles

    Manager - Operations

    Total calculated
    $272,381
    From this org
    $189,746
    From related orgs
    $0
    Other
    $82,635
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,353
    Bonus
    $15,570
    Other
    $28,824
    Deferred
    $45,351
    Nontaxable benefits
    $37,285
    Filer's total
    $272,383

  • Nathan D Goodrich

    Manager of Information Technology

    Total calculated
    $251,633
    From this org
    $172,534
    From related orgs
    $0
    Other
    $79,099
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,975
    Bonus
    $15,610
    Other
    $25,949
    Deferred
    $43,265
    Nontaxable benefits
    $35,834
    Filer's total
    $251,633

  • John Zilles

    Manager of Finance/CFO

    Total calculated
    $238,531
    From this org
    $158,233
    From related orgs
    $0
    Other
    $80,298
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,180
    Bonus
    $15,365
    Other
    $1,688
    Deferred
    $44,901
    Nontaxable benefits
    $35,397
    Filer's total
    $238,531

  • Dean Sellers

    Manager - Legal & HR

    Total calculated
    $198,208
    From this org
    $132,465
    From related orgs
    $0
    Other
    $65,743
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,325
    Bonus
    $15,000
    Other
    $4,140
    Deferred
    $30,084
    Nontaxable benefits
    $35,659
    Filer's total
    $198,208

  • Cody J Aland

    Technical Services Supervisor

    Total calculated
    $197,351
    From this org
    $131,254
    From related orgs
    $0
    Other
    $66,097
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $115,989
    Bonus
    $2,465
    Other
    $12,800
    Deferred
    $37,438
    Nontaxable benefits
    $28,659
    Filer's total
    $197,351

  • John A Slim

    Line Crew Forman

    Total calculated
    $194,755
    From this org
    $130,593
    From related orgs
    $0
    Other
    $64,162
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $127,638
    Bonus
    $2,000
    Other
    $954
    Deferred
    $33,273
    Nontaxable benefits
    $30,888
    Filer's total
    $194,753

  • Edwin B Winn

    Senior Meter Maintenance Technician

    Total calculated
    $193,487
    From this org
    $128,489
    From related orgs
    $0
    Other
    $64,998
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $103,651
    Bonus
    $1,170
    Other
    $23,667
    Deferred
    $32,868
    Nontaxable benefits
    $32,131
    Filer's total
    $193,487

  • Todd J Low

    Line Crew Forman

    Total calculated
    $193,018
    From this org
    $129,362
    From related orgs
    $0
    Other
    $63,656
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $121,080
    Bonus
    $1,410
    Other
    $6,872
    Deferred
    $32,423
    Nontaxable benefits
    $31,233
    Filer's total
    $193,018

  • Steve T Nelson

    Maintenance Planner

    Total calculated
    $165,599
    From this org
    $129,852
    From related orgs
    $0
    Other
    $35,747
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,519
    Bonus
    $850
    Other
    $11,483
    Deferred
    $33,547
    Nontaxable benefits
    $2,199
    Filer's total
    $165,598

  • Randon J Vincent

    Board President

    Total calculated
    $29,612
    From this org
    $29,612
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tommy Kent Olsen

    Board Member

    Total calculated
    $29,238
    From this org
    $29,238
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Bert Al Potts

    Board Member

    Total calculated
    $28,042
    From this org
    $28,042
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Josh Hunter

    Board Secretary

    Total calculated
    $21,650
    From this org
    $21,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Gregory Miles

    Board Member

    Total calculated
    $21,250
    From this org
    $21,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kenneth A Moon

    Board Member

    Total calculated
    $20,980
    From this org
    $20,980
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Alan Robert Ducey

    Board Member

    Total calculated
    $20,488
    From this org
    $20,488
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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

  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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 I, Line 1a
Travel for Companions -- Per the Moon Lake Electric Travel Policy all employees are allowed to take their spouse on 1 trip per year paid by Moon Lake Electric Association Inc. The cost of the spouse travel is added as a taxable benefit and reported on the employees W2 in Box 1, 3, and 5. Tax Indemnification and gross-up payments -- Per the CFO/Manager of Finance and CEO/General Manager, all employees received gross-up payments to assist with the taxes associated to the employee's Christmas gifts and bonus.
Schedule J, Part I, Line 1b
See Notes for Schedule J, Part I, Line 1a

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

  • DUCHESNE COUNTY

    $25,136

    DONATION TO THE DUCHENSE COUNTY JR LIVESTOCK PROGRAM FOR THE 2023 DUCHESNE COUNTY FAIR, AND FIRST RESPONDER DONTATION

Provenance

Return type
form_990
Tax year
2023
Filed
27 March 2024
IRS schema version
2023v5.0
Source object
202410879349301701

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