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Nonprofiteer
← WOLVERINE POWER MARKETING COOPERATIVE

Form 990 for tax year 2023

Filed by WOLVERINE POWER MARKETING COOPERATIVE.

Totals

Total revenue
$96,822,923
Total expenses
$96,822,923
Contributions and grants received
$0
Grants paid
$30,000
Program service revenue
$96,608,517
Investment income
$214,406
Other revenue
$0
Total assets, end of year
$32,121,261
Total liabilities, end of year
$8,771,398
Net assets or fund balances, end of year
$23,349,863
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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 Power Resale

    total $96,608,517 · related or exempt $96,608,517

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $214,406 · related or exempt -$174,573 · excluded $388,979

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,000

  • 4 · Benefits paid to or for members

    total $970,262

  • 5 · Compensation of officers, directors and key employees

    total $54,925

  • 11a · Fees: management

    total $587,098

  • 11b · Fees: legal

    total $59,136

  • 11c · Fees: accounting

    total $28,698

  • 11g · Fees: other

    total $0

  • 13 · Office expenses

    total $2,121

  • 17 · Travel

    total $51,534

  • 19 · Conferences, conventions and meetings

    total $7,112

  • 20 · Interest

    total $29,696

  • 23 · Insurance

    total $72,311

  • 24a · Other expenses: Purchased Power

    total $94,381,209

  • 24b · Other expenses: RPS Compliance

    total $362,397

  • 24c · Other expenses: Membership Dues and Subscriptions

    total $120,901

  • 24d · Other expenses: Member Appreciation

    total $56,933

  • 24e · All other expenses

    total $8,590

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,586,401 · end of year $3,654,186

  • 4 · Accounts receivable

    beginning of year $10,727,684 · end of year $7,593,975

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $364,059 · end of year $142,879

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $21,016,460 · end of year $20,694,039

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $26,548 · end of year $36,182

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,421,551 · end of year $7,851,398

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $920,000 · end of year $920,000

  • 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 $3,900 · end of year $3,900

  • 31 · Retained earnings, endowment or other funds

    beginning of year $22,375,701 · end of year $23,345,963

Mission and programs · 2023

Mission

provide affordable power supply to our members through flexible and creative pricing solutions.

Activities or mission (Part I)

PROVIDING ELECTRIC POWER TO MEMBERS

  • WOLVERINE POWER MARKETING COOPERATIVE (WPMC) PROVIDES RETAIL ELECTRIC SERVICES AS AN ALTERNATIVE ELECTRIC SUPPLIER SERVING 20 MEMBER-OWNERS.

As filed on the 2023 return.

Listed in Part VII

  • Brian Taivalkoski

    Board Secretary / Treasurer

    Total calculated
    $8,550
    From this org
    $8,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6

  • Chad Stirrett

    Board Vice Chairman (ending 8/11/23)

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.8

  • Jeff Hoffa

    Director(began 3/14/23) / Vice Chairman (transitioned 9/12/23)

    Total calculated
    $8,825
    From this org
    $8,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • Rob Hunter

    Chairman

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1

  • Dan Taylor

    Director

    Total calculated
    $5,175
    From this org
    $5,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2

  • Larry Hermanson

    Director (ending 3/14/23)

    Total calculated
    $875
    From this org
    $875
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.5

  • Leandro Saez

    Director (beginning 3/14/23)

    Total calculated
    $8,875
    From this org
    $8,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1

  • Mike Kuhn

    Director (ending 3/14/23)

    Total calculated
    $1,725
    From this org
    $1,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2

  • Rence Meredith

    Director

    Total calculated
    $6,900
    From this org
    $6,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.7

  • Daniel H DeCoeur

    CEO / PRESIDENT

    Total calculated
    $0
    Hours/week
    30.6

  • Richard M Kohler

    CFO

    Total calculated
    $0
    Hours/week
    7.8

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202403209349309370

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