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Nonprofiteer
← TAYLOR ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by TAYLOR ELECTRIC COOPERATIVE.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 17 April 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Listed under a different title

  • Cheri Klussendorf: DIRECTOR then SECRETARY/TR
  • Lisa Kohn: SEC/TREAS. then DIRECTOR
  • Patricia Waldhart: SECRETARY (J then DIRECTOR (JA
  • Paul Woods: SECRETARY/TR then DIRECTOR

Totals

Total revenue
$10,816,544
Total expenses
$10,702,465
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,339,954
Investment income
$18,059
Other revenue
$458,531
Total assets, end of year
$27,903,800
Total liabilities, end of year
$15,041,891
Net assets or fund balances, end of year
$12,861,909
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: GROSS ELECTRIC REVENUE

    total $10,263,937 · related or exempt $10,263,937

  • 2b · Program service revenue: SERVICES, CHARGES, FEES - ELE

    total $76,017 · related or exempt $76,017

  • 3 · Investment income

    total $14,819 · excluded $14,819

  • 7a · Gross sales of assets other than inventory

    other assets $3,240

  • 7c · Gain or loss

    other assets $3,240

  • 7d · Net gain or loss

    total $3,240 · related or exempt $3,240

  • 10a · Gross sales of inventory

    $62,589

  • 10b · Cost of goods sold

    $48,400

  • 10c · Net income from sales of inventory

    total $14,189 · related or exempt $14,189

  • 11a · Other revenue: CAPITAL CREDITS

    total $361,913 · related or exempt $361,913

  • 11b · Other revenue: DPC REFUND

    total $81,638 · related or exempt $81,638

  • 11c · Other revenue: NONOPERATING INCOME

    total $791 · unrelated business $791

  • 11e · Other revenue, total

    $444,342

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $875,547

  • 5 · Compensation of officers, directors and key employees

    total $437,683

  • 20 · Interest

    total $612,594

  • 22 · Depreciation, depletion and amortization

    total $986,705

  • 24a · Other expenses: COST OF POWER

    total $5,425,179

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $740,451

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $635,936

  • 24d · Other expenses: GENERAL & ADMIN EXPENSES

    total $418,389

  • 24e · All other expenses

    total $569,981

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $300 · end of year $300

  • 2 · Savings and temporary cash investments

    beginning of year $66,639 · end of year $264,842

  • 4 · Accounts receivable

    beginning of year $934,765 · end of year $921,047

  • 8 · Inventories for sale or use

    beginning of year $505,858 · end of year $441,065

  • 9 · Prepaid expenses and deferred charges

    beginning of year $125,057 · end of year $124,011

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

    $33,102,613

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

    $12,886,999

  • 10c · Land, buildings and equipment, net

    beginning of year $20,055,311 · end of year $20,215,614

  • 13 · Investments: program-related

    beginning of year $4,947,071 · end of year $5,167,672

  • 15 · Other assets

    beginning of year $862,624 · end of year $769,249

  • 17 · Accounts payable and accrued expenses

    beginning of year $750,258 · end of year $716,547

  • 23 · Secured mortgages and notes payable

    beginning of year $14,034,725 · end of year $13,794,570

  • 25 · Other liabilities

    beginning of year $505,864 · end of year $530,774

  • 31 · Retained earnings, endowment or other funds

    beginning of year $12,206,778 · end of year $12,861,909

Mission and programs · 2023

Mission

OUR MISSION IS TO BE OUR MEMBERS' MOST VALUABLE RESOURCE FOR ENERGY AND RELATED SERVICES.

  • IN CONNECTION WITH THE COOPERATIVE'S MISSION THE COOPERATIVE PROVIDES RELIABLE, COMPETITIVELY PRICED ENERGY AND RELATED SERVICES TO MEMBERS ON A NOT-FOR-PROFIT BASIS AND MAXIMUM VALUES TO MEMBERS CONSISTENT WITH THE WISE USE OF RESOURCES AND TECHNOLOGY.

As filed on the 2023 return.

Listed in Part VII

  • Kenneth Ceaglske

    PRESIDENT/CE

    Total calculated
    $244,876
    From this org
    $176,523
    From related orgs
    $0
    Other
    $68,353
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $176,523
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,523
    Nontaxable benefits
    $25,830
    Filer's total
    $244,876

  • Patricia Nelson

    FINANCE/ADMI

    Total calculated
    $186,782
    From this org
    $112,529
    From related orgs
    $0
    Other
    $74,253
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $112,529
    Bonus
    not reported
    Other
    not reported
    Deferred
    $62,316
    Nontaxable benefits
    $11,937
    Filer's total
    $186,782

  • Justin Fuchs

    LINEMAN

    Total calculated
    $145,096
    From this org
    $109,915
    From related orgs
    $0
    Other
    $35,181
    Hours/week
    40

  • Michael Eloranta

    LINEMAN

    Total calculated
    $144,858
    From this org
    $108,849
    From related orgs
    $0
    Other
    $36,009
    Hours/week
    40

  • Geoffrey Mueller

    LINEMAN

    Total calculated
    $143,413
    From this org
    $106,348
    From related orgs
    $0
    Other
    $37,065
    Hours/week
    40

  • Timothy Habermeyer

    LINEMAN

    Total calculated
    $142,529
    From this org
    $108,527
    From related orgs
    $0
    Other
    $34,002
    Hours/week
    40

  • Colten Cummings

    LINEMAN

    Total calculated
    $127,312
    From this org
    $108,559
    From related orgs
    $0
    Other
    $18,753
    Hours/week
    40

  • Lisa Kohn

    SEC/TREAS.

    Total calculated
    $12,025
    From this org
    $12,025
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.1

  • Cheri Klussendorf

    DIRECTOR

    Total calculated
    $10,900
    From this org
    $10,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4

  • Brian Hallgren

    CHAIRMAN

    Total calculated
    $10,375
    From this org
    $10,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.6

  • Dave Makovsky

    DIRECTOR

    Total calculated
    $10,125
    From this org
    $10,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • Don Everhard

    DIRECTOR

    Total calculated
    $10,050
    From this org
    $10,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4

  • Charles Zenner

    VICE CHAIRMA

    Total calculated
    $8,525
    From this org
    $8,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.6

  • Paul Woods

    SECRETARY/TR

    Total calculated
    $6,825
    From this org
    $6,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4

  • Patricia Waldhart

    SECRETARY (J

    Total calculated
    $2,875
    From this org
    $2,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
17 April 2024
IRS schema version
2023v5.0
Source object
202441139349301214

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