Skip to content
Nonprofiteer
← GOODHUE COUNTY COOPERATIVE ELECTRIC ASSOCIATION

Form 990 for tax year 2023

Filed by GOODHUE COUNTY COOPERATIVE ELECTRIC ASSOCIATION.

Totals

Total revenue
$14,034,549
Total expenses
$13,964,921
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,965,240
Investment income
$69,309
Other revenue
$0
Total assets, end of year
$43,160,073
Total liabilities, end of year
$28,892,790
Net assets or fund balances, end of year
$14,267,283
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: ELECTRIC

    total $13,249,819 · related or exempt $13,249,819

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $501,849 · related or exempt $501,849

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $87,427 · related or exempt $87,427

  • 2d · Program service revenue: COMMISSION REVENUES

    total $65,524 · unrelated business $65,524

  • 2e · Program service revenue: OTHER

    total $58,509 · related or exempt $58,509

  • 2f · All other program service revenue

    total $2,112 · excluded $2,112

  • 3 · Investment income

    total $29,904 · excluded $29,904

  • 7a · Gross sales of assets other than inventory

    other assets $39,405

  • 7c · Gain or loss

    other assets $39,405

  • 7d · Net gain or loss

    total $39,405 · related or exempt $39,405

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $883,267

  • 5 · Compensation of officers, directors and key employees

    total $264,139

  • 20 · Interest

    total $739,071

  • 22 · Depreciation, depletion and amortization

    total $1,496,050

  • 24a · Other expenses: COST OF POWER

    total $7,943,388

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $932,825

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $877,981

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $680,412

  • 24e · All other expenses

    total $147,788

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $961,988 · end of year $918,381

  • 4 · Accounts receivable

    beginning of year $2,184,142 · end of year $2,006,112

  • 8 · Inventories for sale or use

    beginning of year $402,307 · end of year $389,796

  • 9 · Prepaid expenses and deferred charges

    beginning of year $809,607 · end of year $752,573

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

    $47,348,289

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

    $15,845,855

  • 10c · Land, buildings and equipment, net

    beginning of year $30,271,689 · end of year $31,502,434

  • 13 · Investments: program-related

    beginning of year $7,206,002 · end of year $7,463,175

  • 15 · Other assets

    beginning of year $138,179 · end of year $127,602

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,779,519 · end of year $2,624,554

  • 23 · Secured mortgages and notes payable

    beginning of year $25,114,901 · end of year $25,824,392

  • 25 · Other liabilities

    beginning of year $356,256 · end of year $443,844

  • 31 · Retained earnings, endowment or other funds

    beginning of year $13,723,238 · end of year $14,267,283

Mission and programs · 2023

Mission

TO BE THE PROVIDER OF CHOICE FOR RELIABLE, COMPETITIVELY PRICED ENERGY AND OTHER SERVICES THAT BENEFIT THE COOPERATIVE MEMBERS.

  • RURAL ELECTRIC COOPERATIVE PROVIDED ELECTRICAL POWER TO 5,270 RURAL MEMBERS DURING THE YEAR.

As filed on the 2023 return.

Listed in Part VII

  • Timothy Krohn

    LINE SUPERIN

    Total calculated
    $193,586
    From this org
    $111,020
    From related orgs
    $0
    Other
    $82,566
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,020
    Bonus
    not reported
    Other
    not reported
    Deferred
    $48,113
    Nontaxable benefits
    $34,453
    Filer's total
    $193,586

  • Kendall Bigalk

    FOREMAN

    Total calculated
    $185,116
    From this org
    $107,321
    From related orgs
    $0
    Other
    $77,795
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,321
    Bonus
    not reported
    Other
    not reported
    Deferred
    $42,306
    Nontaxable benefits
    $35,489
    Filer's total
    $185,116

  • Kelly Hovel

    GENERAL MANA

    Total calculated
    $175,611
    From this org
    $136,003
    From related orgs
    $0
    Other
    $39,608
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,003
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,851
    Nontaxable benefits
    $15,757
    Filer's total
    $175,611

  • Allen Jantzen

    FOREMAN

    Total calculated
    $152,228
    From this org
    $117,898
    From related orgs
    $0
    Other
    $34,330
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,898
    Bonus
    not reported
    Other
    not reported
    Deferred
    $20,553
    Nontaxable benefits
    $13,777
    Filer's total
    $152,228

  • Ryne McNamara

    LINEMAN

    Total calculated
    $147,456
    From this org
    $105,296
    From related orgs
    $0
    Other
    $42,160
    Hours/week
    40

  • Kyle Lodermeier

    LINEMAN

    Total calculated
    $145,422
    From this org
    $103,338
    From related orgs
    $0
    Other
    $42,084
    Hours/week
    40

  • Amber Gesme

    FINANCE MANA

    Total calculated
    $132,862
    From this org
    $92,102
    From related orgs
    $0
    Other
    $40,760
    Hours/week
    40

  • Gary Esterby

    VICE PRESIDE

    Total calculated
    $4,834
    From this org
    $4,834
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jim Dicke

    SECRETARY

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Donnell Buck

    DIRECTOR

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Darla Vieths

    DIRECTOR

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Hernke

    PRESIDENT

    Total calculated
    $4,100
    From this org
    $4,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Edward Bauman

    DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Gene Bang

    DIRECTOR

    Total calculated
    $3,800
    From this org
    $3,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Paul Huneke

    TREASURER

    Total calculated
    $3,800
    From this org
    $3,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Larry Jensen

    DIRECTOR

    Total calculated
    $2,700
    From this org
    $2,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 April 2024
IRS schema version
2023v5.0
Source object
202421179349301307

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.