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Nonprofiteer
← COOPERATIVE LIGHT AND POWER ASSOCIATION OF LAKE COUNTY

Form 990 for tax year 2022

Filed by COOPERATIVE LIGHT AND POWER ASSOCIATION OF LAKE COUNTY.

Totals

Total revenue
$14,384,512
Total expenses
$14,180,360
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,079,158
Investment income
$74,983
Other revenue
$230,371
Total assets, end of year
$32,952,450
Total liabilities, end of year
$17,531,148
Net assets or fund balances, end of year
$15,421,302
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 REVENUE

    total $14,079,158 · related or exempt $14,079,158

  • 3 · Investment income

    total $49,045 · excluded $49,045

  • 7a · Gross sales of assets other than inventory

    other assets $303,238

  • 7b · Less cost or other basis and sales expenses

    other assets $277,300

  • 7c · Gain or loss

    other assets $25,938

  • 7d · Net gain or loss

    total $25,938 · excluded $25,938

  • 10a · Gross sales of inventory

    $31,751

  • 10b · Cost of goods sold

    $6,639

  • 10c · Net income from sales of inventory

    total $25,112 · related or exempt $25,112

  • 11a · Other revenue: COOPERATIVE CAPITAL CREDITS

    total $171,092 · related or exempt $171,092

  • 11b · Other revenue: OTHER CAPITAL CREDITS

    total $30,567 · related or exempt $30,567

  • 11c · Other revenue: OTHER NONOPERATING MARGINS

    total $3,600 · related or exempt $3,600

  • 11e · Other revenue, total

    $205,259

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $428,814

  • 5 · Compensation of officers, directors and key employees

    total $246,582

  • 20 · Interest

    total $352,055

  • 22 · Depreciation, depletion and amortization

    total $1,360,407

  • 24a · Other expenses: COST OF POWER

    total $8,043,736

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $1,998,337

  • 24c · Other expenses: ADMINISTRATIVE & GENERAL

    total $938,744

  • 24d · Other expenses: CUSTOMER SERVICE AND INFO

    total $453,813

  • 24e · All other expenses

    total $357,872

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $55,718 · end of year $8,755

  • 2 · Savings and temporary cash investments

    beginning of year $1,787,869 · end of year $806,006

  • 4 · Accounts receivable

    beginning of year $1,698,925 · end of year $1,867,079

  • 8 · Inventories for sale or use

    beginning of year $376,159 · end of year $813,062

  • 9 · Prepaid expenses and deferred charges

    beginning of year $813,902 · end of year $635,781

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

    $42,686,635

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

    $20,948,769

  • 10c · Land, buildings and equipment, net

    beginning of year $19,746,822 · end of year $21,737,866

  • 12 · Investments: other securities

    beginning of year $7,533,609 · end of year $6,944,861

  • 15 · Other assets

    beginning of year $148,093 · end of year $139,040

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,647,084 · end of year $2,278,596

  • 19 · Deferred revenue

    beginning of year $144,241 · end of year $123,160

  • 23 · Secured mortgages and notes payable

    beginning of year $14,122,773 · end of year $13,483,032

  • 25 · Other liabilities

    beginning of year $62,797 · end of year $1,646,360

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,184,202 · end of year $15,421,302

Mission and programs · 2022

Mission

ELECTRIC ENERGY DISTRIBUTION

  • DISTRIBUTED ELECTRIC ENERGY AND OTHER SERVICES TO CONSUMERS.

As filed on the 2022 return.

Listed in Part VII

  • Scott Veitenheimer

    PRESIDENT

    Total calculated
    $7,010
    From this org
    $7,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Patricia Schmieder

    VICE PRESIDE

    Total calculated
    $6,350
    From this org
    $6,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kyle Weideman

    TREASURER

    Total calculated
    $5,160
    From this org
    $5,160
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Roger Peterson

    SECRETARY

    Total calculated
    $8,400
    From this org
    $8,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Steve Josephson

    DIRECTOR

    Total calculated
    $7,120
    From this org
    $7,120
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joel Janorschke

    CEO

    Total calculated
    $47,587
    From this org
    $32,771
    From related orgs
    $0
    Other
    $14,816
    Hours/week
    40

  • Hal Hepern

    CEO/GENERAL

    Total calculated
    $114,972
    From this org
    $97,393
    From related orgs
    $0
    Other
    $17,579
    Hours/week
    40

  • Shannon Haveri

    OFFICE MANAG

    Total calculated
    $84,023
    From this org
    $80,027
    From related orgs
    $0
    Other
    $3,996
    Hours/week
    40

  • Chase Peterson

    LINEMEN

    Total calculated
    $195,453
    From this org
    $139,679
    From related orgs
    $0
    Other
    $55,774
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,679
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,930
    Nontaxable benefits
    $13,844
    Filer's total
    $195,453

  • Vince Udenberg

    LINEMAN

    Total calculated
    $200,572
    From this org
    $135,927
    From related orgs
    $0
    Other
    $64,645
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,927
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,972
    Nontaxable benefits
    $22,673
    Filer's total
    $200,572

  • Brian Bentler

    LEAD LINEMAN

    Total calculated
    $189,961
    From this org
    $117,927
    From related orgs
    $0
    Other
    $72,034
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,927
    Bonus
    not reported
    Other
    not reported
    Deferred
    $43,603
    Nontaxable benefits
    $28,431
    Filer's total
    $189,961

  • Tim Horgan

    LINEMAN

    Total calculated
    $151,216
    From this org
    $126,942
    From related orgs
    $0
    Other
    $24,274
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,942
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,177
    Nontaxable benefits
    $8,097
    Filer's total
    $151,216

  • Rick Heath

    LINEMAN

    Total calculated
    $168,257
    From this org
    $129,105
    From related orgs
    $0
    Other
    $39,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,105
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,177
    Nontaxable benefits
    $22,975
    Filer's total
    $168,257

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 · Independent compensation consultant
  • 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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
1 May 2023
IRS schema version
2022v5.0
Source object
202331289349304468

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