Skip to content
Nonprofiteer
← MCDONOUGH POWER COOPERATIVE INC

Form 990 for tax year 2023

Filed by MCDONOUGH POWER COOPERATIVE INC.

Totals

Total revenue
$12,806,237
Total expenses
$12,806,237
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,742,530
Investment income
$19,085
Other revenue
$44,622
Total assets, end of year
$36,265,528
Total liabilities, end of year
$20,125,800
Net assets or fund balances, end of year
$16,139,728
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 $12,094,894 · related or exempt $12,094,894

  • 2b · Program service revenue: Capital Credits

    total $585,454 · related or exempt $585,454

  • 2c · Program service revenue: Miscellaneous Electric

    total $62,182 · related or exempt $62,182

  • 3 · Investment income

    total $19,085 · excluded $19,085

  • 6a · Gross rents

    personal property $9,504

  • 6c · Rental income or loss

    personal property $9,504

  • 6d · Net rental income or loss

    total $9,504 · excluded $9,504

  • 11a · Other revenue: Other Non-Operating

    total $35,118 · related or exempt $35,118

  • 11e · Other revenue, total

    $35,118

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $834,114

  • 5 · Compensation of officers, directors and key employees

    total $486,913

  • 7 · Other salaries and wages

    total $672,506

  • 20 · Interest

    total $782,598

  • 22 · Depreciation, depletion and amortization

    total $1,247,944

  • 24a · Other expenses: Cost of Power

    total $6,999,960 · program services $6,999,960

  • 24b · Other expenses: Distribution Expense

    total $867,778 · program services $867,778

  • 24c · Other expenses: Admin & General

    total $684,111 · program services $684,111

  • 24d · Other expenses: Member Services

    total $171,899 · program services $171,899

  • 24e · All other expenses

    total $58,414

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $111,759 · end of year $525

  • 4 · Accounts receivable

    beginning of year $1,091,210 · end of year $1,077,107

  • 8 · Inventories for sale or use

    beginning of year $250,166 · end of year $296,261

  • 9 · Prepaid expenses and deferred charges

    beginning of year $65,593 · end of year $58,115

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

    $43,434,121

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

    $15,260,655

  • 10c · Land, buildings and equipment, net

    beginning of year $26,304,233 · end of year $28,173,466

  • 13 · Investments: program-related

    beginning of year $6,419,302 · end of year $6,630,666

  • 15 · Other assets

    beginning of year $30,426 · end of year $29,388

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,890,023 · end of year $1,487,579

  • 19 · Deferred revenue

    beginning of year $29,167 · end of year $155,950

  • 23 · Secured mortgages and notes payable

    beginning of year $16,549,055 · end of year $18,482,271

  • 25 · Other liabilities

    beginning of year $141,868

  • 29 · Capital stock, trust principal or current funds

    beginning of year $101,212 · end of year $95,012

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

    beginning of year $753,271 · end of year $802,664

  • 31 · Retained earnings, endowment or other funds

    beginning of year $14,808,093 · end of year $15,242,052

Mission and programs · 2023

Mission

McDonough Power Cooperative is a member-owned and locally controlled cooperative business whose mission is to provide high quality electric and related services in a safe, reliable and financially responsible manner for the betterment of the membership and the area it serves.

  • McDonough Power Cooperative supplies electric power to members in portions of Fulton, Hancock, Henderson, Knox, McDonough, Schuyler and Warren counties in West-Central Illinois. More than 5,000 households and businesses receive power from McDonough Power.

As filed on the 2023 return.

Listed in Part VII

  • Robert M Smith

    President & CEO

    Total calculated
    $282,629
    From this org
    $176,825
    From related orgs
    $0
    Other
    $105,804
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,825
    Bonus
    not reported
    Other
    not reported
    Deferred
    $81,334
    Nontaxable benefits
    $24,470
    Filer's total
    $282,629

  • Doug Bear

    Line Superintendent

    Total calculated
    $197,728
    From this org
    $117,263
    From related orgs
    $0
    Other
    $80,465
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,263
    Bonus
    not reported
    Other
    not reported
    Deferred
    $56,589
    Nontaxable benefits
    $23,876
    Filer's total
    $197,728

  • Jamison Holthaus

    Crew Foreman

    Total calculated
    $164,422
    From this org
    $118,704
    From related orgs
    $0
    Other
    $45,718
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $118,704
    Bonus
    not reported
    Other
    not reported
    Deferred
    $22,663
    Nontaxable benefits
    $23,055
    Filer's total
    $164,422

  • Tracy Camden

    CFO

    Total calculated
    $164,196
    From this org
    $128,108
    From related orgs
    $0
    Other
    $36,088
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,108
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,365
    Nontaxable benefits
    $12,723
    Filer's total
    $164,196

  • Joseph Wernsman

    Journeyman Lineman

    Total calculated
    $155,778
    From this org
    $121,526
    From related orgs
    $0
    Other
    $34,252
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $121,526
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,013
    Nontaxable benefits
    $17,239
    Filer's total
    $155,778

  • Clay Wiemerslage

    Journeyman Lineman

    Total calculated
    $154,578
    From this org
    $125,918
    From related orgs
    $0
    Other
    $28,660
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $125,918
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,710
    Nontaxable benefits
    $11,950
    Filer's total
    $154,578

  • Steve Hall

    Director

    Total calculated
    $5,685
    From this org
    $5,685
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jerry Riggins

    Director

    Total calculated
    $5,116
    From this org
    $5,116
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Walter Lewis

    Director

    Total calculated
    $5,099
    From this org
    $5,099
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael Cox

    Director

    Total calculated
    $5,023
    From this org
    $5,023
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Lueck

    Director

    Total calculated
    $4,773
    From this org
    $4,773
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeffrey Moore

    Director

    Total calculated
    $4,199
    From this org
    $4,199
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Courtney Chandler

    Director

    Total calculated
    $3,800
    From this org
    $3,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Steven Lynn

    Director

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Dwyer

    Director

    Total calculated
    $2,794
    From this org
    $2,794
    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
2023
Filed
25 September 2024
IRS schema version
2023v5.1
Source object
202432699349300043

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.