Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $23,603,196 · related or exempt $23,603,196

• 2b · Program service revenue: COOP CAPITAL CREDITS

  total $1,211,167 · related or exempt $1,211,167

• 2c · Program service revenue: OTHER NON-OPERATING

  total $71,180 · related or exempt $15,293 · unrelated business $55,887

• 3 · Investment income

  total $111,409 · excluded $111,409

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

  other assets $67,976

• 7c · Gain or loss

  other assets -$67,976

• 7d · Net gain or loss

  total -$67,976 · excluded -$67,976

• 10a · Gross sales of inventory

  $153,920

• 10b · Cost of goods sold

  $278,781

• 10c · Net income from sales of inventory

  total -$124,861 · related or exempt -$124,861

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,350

• 4 · Benefits paid to or for members

  total $1,008,423

• 5 · Compensation of officers, directors and key employees

  total $513,116

• 7 · Other salaries and wages

  total $2,009,890

• 8 · Pension plan contributions

  total $485,211

• 10 · Payroll taxes

  total $178,714

• 20 · Interest

  total $1,272,970

• 22 · Depreciation, depletion and amortization

  total $2,266,483

• 24a · Other expenses: COST OF POWER

  total $14,098,274

• 24b · Other expenses: DISTRIBUTION-MAINTENANC

  total $1,613,610

• 24c · Other expenses: ADMIN & GENERAL

  total $1,456,578

• 24d · Other expenses: DISTRIBUTION-OPERATIONS

  total $1,011,221

• 24e · All other expenses

  total -$2,312,661

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,404,832 · end of year $4,839,309

• 4 · Accounts receivable

  beginning of year $4,232,588 · end of year $2,728,750

• 7 · Other notes and loans receivable

  beginning of year $883,322 · end of year $383,362

• 8 · Inventories for sale or use

  beginning of year $2,707,363 · end of year $3,143,769

• 9 · Prepaid expenses and deferred charges

  beginning of year $415,604 · end of year $1,361,263

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

  $68,647,991

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

  $26,648,958

• 10c · Land, buildings and equipment, net

  beginning of year $39,823,629 · end of year $41,999,033

• 13 · Investments: program-related

  beginning of year $8,671,387 · end of year $9,426,391

• 15 · Other assets

  beginning of year $123,901 · end of year $142,488

• 17 · Accounts payable and accrued expenses

  beginning of year $2,884,743 · end of year $2,327,542

• 21 · Escrow or custodial account liability

  beginning of year $1,508 · end of year $1,907

• 23 · Secured mortgages and notes payable

  beginning of year $26,944,403 · end of year $29,413,899

• 24 · Unsecured notes and loans payable

  end of year $150,000

• 25 · Other liabilities

  beginning of year $1,962,840 · end of year $2,028,385

• 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 $28,469,132 · end of year $30,102,632

The filer's explanations (Part III)

FORM 990, PART VII, COLUMN F, OTHER COMPENSATION:

INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN OF $40,841 FOR BRIDGET ITZEN, $74,622 FOR KEVIN PETERSON, $34,003 FOR ELLIOT MAYLAND, $29,141 FOR JAMES HARGER, $45,644 FOR RICK DOLASH, $44,120 FOR GAIL HULL, AND $42,103 FOR CODY BEACH. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $41,218 FOR BRIDGET ITZEN, $36,625 FOR KEVIN PETERSON, $28,648 FOR ELLIOT MAYLAND, $25,636 FOR JAMES HARGER, $26,657 FOR RICK DOLASH, $26,911 FOR GAIL HULL, AND $26,019 FOR CODY BEACH.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• CONSUMERS DEVELOPMENT LLC

  DEVELOPING COMMERCIAL PROPERTY · IA · income $25,470 · assets $147,050

  Directly controlled by CONSUMERS ENERGY