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Nonprofiteer
← NORTHCENTRAL ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by NORTHCENTRAL ELECTRIC COOPERATIVE.

Totals

Total revenue
$142,343,736
Total expenses
$136,760,738
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$140,250,900
Investment income
$713,531
Other revenue
$1,379,305
Total assets, end of year
$228,436,980
Total liabilities, end of year
$110,867,002
Net assets or fund balances, end of year
$117,569,978
Program services expenses (Part IX)
$136,760,738
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$136,760,738

Program services were 100.0% 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: ELECTRICITY SALES

    total $139,156,961 · related or exempt $139,156,961

  • 2b · Program service revenue: LATE PAYMENT CHARGES

    total $746,745 · related or exempt $746,745

  • 2c · Program service revenue: SERVICE COLLECTION FEES

    total $312,075 · related or exempt $312,075

  • 2d · Program service revenue: MISCELLANEOUS SERVICE REVENUE

    total $35,059 · related or exempt $35,059

  • 2e · Program service revenue: OTHER ELECTRIC REVENUE

    total $60 · related or exempt $60

  • 3 · Investment income

    total $605,527 · related or exempt $605,527

  • 6a · Gross rents

    personal property $589,722

  • 6c · Rental income or loss

    personal property $589,722

  • 6d · Net rental income or loss

    total $589,722 · related or exempt $589,722

  • 7a · Gross sales of assets other than inventory

    other assets $108,004

  • 7c · Gain or loss

    other assets $108,004

  • 7d · Net gain or loss

    total $108,004 · related or exempt $108,004

  • 11a · Other revenue: FIBER LEASE

    total $789,583 · unrelated business $789,583

  • 11e · Other revenue, total

    $789,583

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $4,689,087 · program services $4,689,087

  • 8 · Pension plan contributions

    total $953,639 · program services $953,639

  • 13 · Office expenses

    total $1,125,797 · program services $1,125,797

  • 20 · Interest

    total $2,412,753 · program services $2,412,753

  • 22 · Depreciation, depletion and amortization

    total $8,336,205 · program services $8,336,205

  • 24a · Other expenses: POWER COST

    total $103,515,058 · program services $103,515,058

  • 24b · Other expenses: DISTRIBUTION/MAINTENANCE

    total $6,567,609 · program services $6,567,609

  • 24c · Other expenses: DISTRIBUTION/OPERATING

    total $3,006,953 · program services $3,006,953

  • 24d · Other expenses: TAXES

    total $1,756,287 · program services $1,756,287

  • 24e · All other expenses

    total $4,397,350 · program services $4,397,350

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,706,641 · end of year $8,744,157

  • 4 · Accounts receivable

    beginning of year $13,422,701 · end of year $14,562,772

  • 8 · Inventories for sale or use

    beginning of year $1,917,644 · end of year $2,322,655

  • 9 · Prepaid expenses and deferred charges

    beginning of year $400,367 · end of year $139,617

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

    $243,548,450

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

    $72,425,872

  • 10c · Land, buildings and equipment, net

    beginning of year $140,734,908 · end of year $171,122,578

  • 12 · Investments: other securities

    beginning of year $3,502,314 · end of year $4,226,121

  • 15 · Other assets

    beginning of year $17,257,230 · end of year $27,319,080

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,326,654 · end of year $24,586,987

  • 23 · Secured mortgages and notes payable

    beginning of year $38,210,240 · end of year $60,073,843

  • 24 · Unsecured notes and loans payable

    beginning of year $3,000,000 · end of year $17,000,000

  • 25 · Other liabilities

    beginning of year $7,731,865 · end of year $9,206,172

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,421,247 · end of year $1,451,197

  • 31 · Retained earnings, endowment or other funds

    beginning of year $113,251,799 · end of year $116,118,781

Mission and programs · 2022

Mission

TO BRING SAFE, RELIABLE, AND AFFORDABLE POWER TO CUSTOMERS IN A COURTEOUS AND TIMELY MANNER.

  • TO PROVIDE ELECTRIC POWER SERVICE TO MEMBERS OF THE ASSOCIATION.

    Expenses $136,760,738 · Revenue $140,250,900

As filed on the 2022 return.

Listed in Part VII

  • William K Doddridge

    GENERAL MANA

    Total calculated
    $468,181
    From this org
    $362,382
    From related orgs
    $0
    Other
    $105,799
    Hours/week
    34 + 4 related

    Schedule J breakdown matched by us

    Base
    $362,382
    Bonus
    not reported
    Other
    not reported
    Deferred
    $105,799
    Nontaxable benefits
    not reported
    Filer's total
    $468,181

  • Mark Nichols

    DIRECTOR OF

    Total calculated
    $271,631
    From this org
    $203,229
    From related orgs
    $0
    Other
    $68,402
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $203,229
    Bonus
    not reported
    Other
    not reported
    Deferred
    $68,402
    Nontaxable benefits
    not reported
    Filer's total
    $271,631

  • Larry Johnson

    DIRECTOR OF

    Total calculated
    $265,461
    From this org
    $195,654
    From related orgs
    $0
    Other
    $69,807
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,654
    Bonus
    not reported
    Other
    not reported
    Deferred
    $69,807
    Nontaxable benefits
    not reported
    Filer's total
    $265,461

  • Jonathan Cox

    DIRECTOR OF

    Total calculated
    $249,275
    From this org
    $182,843
    From related orgs
    $0
    Other
    $66,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,843
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,432
    Nontaxable benefits
    not reported
    Filer's total
    $249,275

  • Jake Bellipanni

    DIRECTOR OF

    Total calculated
    $244,282
    From this org
    $177,850
    From related orgs
    $0
    Other
    $66,432
    Hours/week
    32 + 8 related

    Schedule J breakdown matched by us

    Base
    $177,850
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,432
    Nontaxable benefits
    not reported
    Filer's total
    $244,282

  • Darin Farley

    DIRECTOR OF

    Total calculated
    $223,186
    From this org
    $166,031
    From related orgs
    $0
    Other
    $57,155
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,031
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,155
    Nontaxable benefits
    not reported
    Filer's total
    $223,186

  • Pat Woods

    PRESIDENT

    Total calculated
    $25,750
    From this org
    $25,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.91

  • Ricky Jones

    BOARD MEMBER

    Total calculated
    $24,750
    From this org
    $24,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.89

  • Julie Niblett

    BOARD MEMBER

    Total calculated
    $24,250
    From this org
    $24,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.48

  • Jerry Nichols

    VICE PRESIDE

    Total calculated
    $23,750
    From this org
    $23,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.51

  • Tony Taylor

    BOARD MEMBER

    Total calculated
    $23,750
    From this org
    $23,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.75

  • Don Dickerson

    SECRETARY

    Total calculated
    $21,750
    From this org
    $21,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Morris Thompson

    BOARD MEMBER

    Total calculated
    $21,750
    From this org
    $21,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.29

  • Phil Lachaussee

    BOARD MEMBER

    Total calculated
    $21,250
    From this org
    $21,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.72

  • Joan Childress

    BOARD MEMBER

    Total calculated
    $12,750
    From this org
    $12,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.38

  • Kimberly Gordon

    BOARD MEMBER

    Total calculated
    $2,500
    From this org
    $2,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.35

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • NORTHCENTRAL CONNECT

    FIBER · MS

Provenance

Return type
form_990
Tax year
2022
Filed
26 January 2024
IRS schema version
2022v5.0
Source object
202430319349301708

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