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Nonprofiteer
← MCCONE ELECTRIC CO-OP INC

Form 990 for tax year 2024

Filed by MCCONE ELECTRIC CO-OP INC.

Totals

Total revenue
$11,547,206
Total expenses
$10,920,940
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$11,238,008
Investment income
$49,513
Other revenue
$259,685
Total assets, end of year
$44,555,020
Total liabilities, end of year
$28,119,358
Net assets or fund balances, end of year
$16,435,662
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.

  • 2a · Program service revenue: Sales of Electricity

    total $11,238,008 · related or exempt $11,238,008 · 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 $49,513 · related or exempt $49,513 · 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

  • 11a · Other revenue: Other Capital Credits

    total $93,759 · related or exempt $93,759 · unrelated business $0 · excluded $0

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

    total -$24,953 · related or exempt -$24,953 · unrelated business $0 · excluded $0

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

    total $190,879 · related or exempt $190,879 · unrelated business $0 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $259,685

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $544,644

  • 5 · Compensation of officers, directors and key employees

    total $740,480

  • 7 · Other salaries and wages

    total $1,651,001

  • 8 · Pension plan contributions

    total $406,408

  • 9 · Other employee benefits

    total $324,450

  • 10 · Payroll taxes

    total $119,006

  • 11b · Fees: legal

    total $1,778

  • 11c · Fees: accounting

    total $12,895

  • 11g · Fees: other

    total $10,724

  • 20 · Interest

    total $1,096,072

  • 22 · Depreciation, depletion and amortization

    total $1,489,621

  • 24a · Other expenses: Operations & Maintenance

    total $564,267

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

    total $191,179

  • 24c · Other expenses: Admin. & General

    total $532,971

  • 24d · Other expenses: Cost of Power

    total $3,235,444

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $874,973 · end of year $675,225

  • 2 · Savings and temporary cash investments

    beginning of year $0

  • 4 · Accounts receivable

    beginning of year $1,042,016 · end of year $1,202,725

  • 8 · Inventories for sale or use

    beginning of year $1,346,685 · end of year $1,284,106

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,934 · end of year $22,506

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

    $56,087,619

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

    $17,782,607

  • 10c · Land, buildings and equipment, net

    beginning of year $36,082,117 · end of year $38,305,012

  • 13 · Investments: program-related

    beginning of year $2,912,407 · end of year $3,065,446

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,817,006 · end of year $1,446,704

  • 19 · Deferred revenue

    beginning of year $58,674 · end of year $69,713

  • 23 · Secured mortgages and notes payable

    beginning of year $24,541,231 · end of year $26,550,211

  • 25 · Other liabilities

    beginning of year $51,825 · end of year $52,730

  • 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 $15,809,396 · end of year $16,435,662

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2024

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 2024 return.

Listed in Part VII

  • Steve Tilton

    General Manager

    Total calculated
    $202,979
    From this org
    $149,310
    From related orgs
    $0
    Other
    $53,669
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $149,310
    Bonus
    $0
    Other
    $0
    Deferred
    $27,736
    Nontaxable benefits
    $27,743
    Filer's total
    $204,789

  • Theresa Haynie

    Manager of Finance & Administration

    Total calculated
    $189,420
    From this org
    $113,883
    From related orgs
    $0
    Other
    $75,537
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $113,883
    Bonus
    $0
    Other
    $0
    Deferred
    $63,844
    Nontaxable benefits
    $13,027
    Filer's total
    $190,754

  • Nathan Tuttle

    Line Foreman

    Total calculated
    $112,954
    From this org
    $101,132
    From related orgs
    $0
    Other
    $11,822
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $101,132
    Bonus
    $0
    Other
    $0
    Deferred
    $11,822
    Nontaxable benefits
    $1,099
    Filer's total
    $114,053

  • Conrad Moline

    President

    Total calculated
    $33,134
    From this org
    $33,134
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brent McRae

    Director

    Total calculated
    $32,234
    From this org
    $32,234
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • R Kurt Voss

    Director

    Total calculated
    $31,972
    From this org
    $31,972
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Carla Delp

    Treasurer

    Total calculated
    $28,422
    From this org
    $28,422
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Brett Beery

    Director

    Total calculated
    $24,395
    From this org
    $24,395
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brent Kluth

    Vice President

    Total calculated
    $23,969
    From this org
    $23,969
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Ken Ehli

    Director

    Total calculated
    $23,144
    From this org
    $23,144
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Ruth Hinnaland

    Secretary

    Total calculated
    $23,144
    From this org
    $23,144
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Patti Murphy

    Director

    Total calculated
    $7,163
    From this org
    $7,163
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Brianna Vine

    Director

    Total calculated
    $3,306
    From this org
    $3,306
    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

  • 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.

Provenance

Return type
form_990
Tax year
2024
Filed
13 May 2025
IRS schema version
2024v5.0
Source object
202521339349306387

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