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Nonprofiteer
← MCDONOUGH POWER COOPERATIVE INC

Form 990 for tax year 2022

Filed by MCDONOUGH POWER COOPERATIVE INC.

Totals

Total revenue
$12,205,957
Total expenses
$12,205,957
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,115,577
Investment income
$48,578
Other revenue
$41,802
Total assets, end of year
$34,272,689
Total liabilities, end of year
$18,610,113
Net assets or fund balances, end of year
$15,662,576
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 $11,494,212 · related or exempt $11,494,212

  • 2b · Program service revenue: CAPITAL CREDITS

    total $564,759 · related or exempt $564,759

  • 2c · Program service revenue: MISCELLANEOUS ELECTRIC

    total $56,606 · related or exempt $56,606

  • 3 · Investment income

    total $17,593 · excluded $17,593

  • 6a · Gross rents

    personal property $9,577

  • 6c · Rental income or loss

    personal property $9,577

  • 6d · Net rental income or loss

    total $9,577 · excluded $9,577

  • 7a · Gross sales of assets other than inventory

    other assets $30,985

  • 7c · Gain or loss

    other assets $30,985

  • 7d · Net gain or loss

    total $30,985 · related or exempt $30,985

  • 11a · Other revenue: OTHER NON OPERATING

    total $35,038 · related or exempt $35,038

  • 11b · Other revenue: COOPERATIVE BALLOON ASSOC- K1

    total -$2,813 · unrelated business -$2,813

  • 11e · Other revenue, total

    $32,225

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $821,568

  • 5 · Compensation of officers, directors and key employees

    total $465,966

  • 7 · Other salaries and wages

    total $802,876

  • 20 · Interest

    total $658,200

  • 22 · Depreciation, depletion and amortization

    total $1,177,380

  • 24a · Other expenses: COST OF POWER

    total $6,529,781

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $839,869

  • 24c · Other expenses: ADMIN & GENERAL

    total $749,244

  • 24d · Other expenses: MEMBER SERVICES

    total $161,073

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $289,854 · end of year $111,759

  • 4 · Accounts receivable

    beginning of year $977,637 · end of year $1,091,210

  • 8 · Inventories for sale or use

    beginning of year $190,704 · end of year $250,166

  • 9 · Prepaid expenses and deferred charges

    beginning of year $181,362 · end of year $65,593

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

    $41,343,312

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

    $15,039,079

  • 10c · Land, buildings and equipment, net

    beginning of year $24,406,506 · end of year $26,304,233

  • 13 · Investments: program-related

    beginning of year $6,214,711 · end of year $6,419,302

  • 15 · Other assets

    beginning of year $31,463 · end of year $30,426

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,374,642 · end of year $1,890,023

  • 19 · Deferred revenue

    beginning of year $19,806 · end of year $29,167

  • 23 · Secured mortgages and notes payable

    beginning of year $15,454,164 · end of year $16,549,055

  • 25 · Other liabilities

    beginning of year $153,634 · end of year $141,868

  • 29 · Capital stock, trust principal or current funds

    beginning of year $114,025 · end of year $101,212

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

    beginning of year $673,807 · end of year $753,271

  • 31 · Retained earnings, endowment or other funds

    beginning of year $14,502,159 · end of year $14,808,093

Mission and programs · 2022

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 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Robert M Smith

    PRESIDENT &

    Total calculated
    $288,105
    From this org
    $169,948
    From related orgs
    $0
    Other
    $118,157
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,948
    Bonus
    not reported
    Other
    not reported
    Deferred
    $95,286
    Nontaxable benefits
    $22,871
    Filer's total
    $288,105

  • Doug Bear

    LINE SUPERIN

    Total calculated
    $203,303
    From this org
    $113,944
    From related orgs
    $0
    Other
    $89,359
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,944
    Bonus
    not reported
    Other
    not reported
    Deferred
    $67,078
    Nontaxable benefits
    $22,281
    Filer's total
    $203,303

  • Jamison Holthaus

    JOURNEYMAN L

    Total calculated
    $155,058
    From this org
    $102,760
    From related orgs
    $0
    Other
    $52,298
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $102,760
    Bonus
    not reported
    Other
    not reported
    Deferred
    $30,263
    Nontaxable benefits
    $22,035
    Filer's total
    $155,058

  • Joseph Wernsman

    JOURNEYMAN L

    Total calculated
    $151,437
    From this org
    $108,891
    From related orgs
    $0
    Other
    $42,546
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $108,891
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,758
    Nontaxable benefits
    $16,788
    Filer's total
    $151,437

  • Clay Wiemerslage

    JOURNEYMAN L

    Total calculated
    $147,512
    From this org
    $106,924
    From related orgs
    $0
    Other
    $40,588
    Hours/week
    42

  • Brandon Cousins

    JOURNEYMAN L

    Total calculated
    $145,566
    From this org
    $112,273
    From related orgs
    $0
    Other
    $33,293
    Hours/week
    44

  • Tracy Camden

    FINANCE & AC

    Total calculated
    $137,867
    From this org
    $102,731
    From related orgs
    $0
    Other
    $35,136
    Hours/week
    40

  • Steve Hall

    DIRECTOR

    Total calculated
    $6,320
    From this org
    $6,320
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jerry Riggins

    DIRECTOR

    Total calculated
    $5,003
    From this org
    $5,003
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Walter Lewis

    DIRECTOR

    Total calculated
    $4,874
    From this org
    $4,874
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeffrey Moore

    DIRECTOR

    Total calculated
    $4,874
    From this org
    $4,874
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Lueck

    DIRECTOR

    Total calculated
    $4,792
    From this org
    $4,792
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Steven Lynn

    DIRECTOR

    Total calculated
    $3,825
    From this org
    $3,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Courtney Chandler

    DIRECTOR

    Total calculated
    $3,775
    From this org
    $3,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Michael Cox

    DIRECTOR

    Total calculated
    $3,667
    From this org
    $3,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Dwyer

    DIRECTOR

    Total calculated
    $2,864
    From this org
    $2,864
    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
2022
Filed
31 August 2023
IRS schema version
2022v5.0
Source object
202342489349300824

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

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