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Nonprofiteer
← EASTERN ILLINI ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by EASTERN ILLINI ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$40,544,538
Total expenses
$38,402,662
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$38,864,934
Investment income
$91,350
Other revenue
$1,588,254
Total assets, end of year
$101,560,871
Total liabilities, end of year
$46,898,486
Net assets or fund balances, end of year
$54,662,385
Program services expenses (Part IX)
$38,402,662
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$37,419,953

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: ELECTRIC ENERGY REVENUE

    total $38,647,052 · related or exempt $38,647,052

  • 2b · Program service revenue: MISCELLANEOUS ELECTRIC REVENUE

    total $217,882 · related or exempt $217,882

  • 3 · Investment income

    total $91,350 · excluded $91,350

  • 6a · Gross rents

    real property $34,991

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $34,991

  • 6d · Net rental income or loss

    total $34,991 · related or exempt $34,991

  • 10a · Gross sales of inventory

    $244,575

  • 10b · Cost of goods sold

    $231,479

  • 10c · Net income from sales of inventory

    total $13,096 · related or exempt $13,096

  • 11a · Other revenue: CAPITAL CREDITS

    total $1,551,732 · related or exempt $1,551,732

  • 11b · Other revenue: OTHER INCOME

    total -$11,565 · unrelated business -$11,565

  • 11e · Other revenue, total

    $1,540,167

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $982,709 · program services $982,709

  • 13 · Office expenses

    total $159,471 · program services $159,471

  • 20 · Interest

    total $1,678,433 · program services $1,678,433

  • 22 · Depreciation, depletion and amortization

    total $3,455,170 · program services $3,455,170

  • 24a · Other expenses: PURCHASED POWER

    total $23,489,366 · program services $23,489,366

  • 24b · Other expenses: MAINTENANCE

    total $2,657,326 · program services $2,657,326

  • 24c · Other expenses: ADMINISTRATIVE EXPENSES

    total $2,464,117 · program services $2,464,117

  • 24d · Other expenses: OPERATIONS

    total $2,438,230 · program services $2,438,230

  • 24e · All other expenses

    total $1,077,840 · program services $1,077,840

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $682,263 · end of year $659,297

  • 2 · Savings and temporary cash investments

    beginning of year $794,316 · end of year $50,000

  • 4 · Accounts receivable

    beginning of year $2,580,658 · end of year $3,430,651

  • 7 · Other notes and loans receivable

    beginning of year $33,570

  • 8 · Inventories for sale or use

    beginning of year $1,661,707 · end of year $2,516,894

  • 9 · Prepaid expenses and deferred charges

    beginning of year $106,960 · end of year $109,831

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

    $126,084,963

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

    $53,077,061

  • 10c · Land, buildings and equipment, net

    beginning of year $66,897,091 · end of year $73,007,902

  • 12 · Investments: other securities

    beginning of year $20,612,181 · end of year $21,193,342

  • 15 · Other assets

    beginning of year $695,125 · end of year $592,954

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,668,519 · end of year $3,614,198

  • 23 · Secured mortgages and notes payable

    beginning of year $32,929,334 · end of year $38,344,641

  • 25 · Other liabilities

    beginning of year $4,957,674 · end of year $4,939,647

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $52,508,344 · end of year $54,662,385

Mission and programs · 2023

Mission

EIEC'S MISSION IS TO PROVIDE SAFE, RELIABLE, PREMIUM-QUALITY, ECONOMICALLY-PRICED ELECTRICITY AND OTHER RELATED SERVICES TO OUR MEMBERS/OWNERS.

Activities or mission (Part I)

SALE AND DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS.

  • DISTRIBUTION OF ELECTRIC ENERGY TO COOPERATIVE MEMBERS.

    Expenses $37,419,953 · Revenue $40,557,528

As filed on the 2023 return.

Listed in Part VII

  • Kevin Moore

    CHAIRMAN

    Total calculated
    $7,366
    From this org
    $7,366
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.97

  • Bruce Ristow

    VICE CHAIRMAN

    Total calculated
    $8,066
    From this org
    $8,066
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Bradley Ludwig

    DIRECTOR

    Total calculated
    $8,416
    From this org
    $8,416
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.13

  • Steve Meenen

    SECRETARY/TREASURER

    Total calculated
    $7,716
    From this org
    $7,716
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.95

  • Thomas Schlatter

    FORMER DIRECTOR

    Total calculated
    $2,108
    From this org
    $2,108
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.24

  • Stephen Gordon

    DIRECTOR

    Total calculated
    $8,766
    From this org
    $8,766
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.69

  • Chad Larimore

    ASSISTANT SECRETARY/TREASURER

    Total calculated
    $8,066
    From this org
    $8,066
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.99

  • Lauri Quick

    DIRECTOR

    Total calculated
    $12,266
    From this org
    $12,266
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.62

  • Tyler Finegan

    DIRECTOR

    Total calculated
    $10,866
    From this org
    $10,866
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.55

  • Mark Slagel

    DIRECTOR

    Total calculated
    $4,908
    From this org
    $4,908
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.16

  • Robert Hunzinger

    CEO/PRESIDENT

    Total calculated
    $397,166
    From this org
    $352,166
    From related orgs
    $0
    Other
    $45,000
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $339,809
    Bonus
    $0
    Other
    $12,357
    Deferred
    $45,000
    Nontaxable benefits
    $0
    Filer's total
    $397,166

  • Michael Wilson

    VICE PRESIDENT OF MEMBER & COMMUNITY RELATION

    Total calculated
    $176,862
    From this org
    $140,756
    From related orgs
    $0
    Other
    $36,106
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $140,076
    Bonus
    $0
    Other
    $680
    Deferred
    $22,198
    Nontaxable benefits
    $13,908
    Filer's total
    $176,862

  • Shana Batte

    CHIEF FINANCIAL OFFICER

    Total calculated
    $159,676
    From this org
    $127,125
    From related orgs
    $0
    Other
    $32,551
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,736
    Bonus
    $0
    Other
    $389
    Deferred
    $19,927
    Nontaxable benefits
    $12,624
    Filer's total
    $159,676

  • Bradley Smith

    VICE PRESIDENT OF OPERATION

    Total calculated
    $190,976
    From this org
    $154,473
    From related orgs
    $0
    Other
    $36,503
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $153,989
    Bonus
    $0
    Other
    $484
    Deferred
    $23,879
    Nontaxable benefits
    $12,624
    Filer's total
    $190,976

  • Kevin Dettmering

    LINE FOREMAN

    Total calculated
    $157,290
    From this org
    $130,305
    From related orgs
    $0
    Other
    $26,985
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $128,908
    Bonus
    $0
    Other
    $1,397
    Deferred
    $16,965
    Nontaxable benefits
    $10,020
    Filer's total
    $157,290

  • Jason Kocher

    LINE FOREMAN

    Total calculated
    $153,695
    From this org
    $129,050
    From related orgs
    $0
    Other
    $24,645
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $128,838
    Bonus
    $0
    Other
    $212
    Deferred
    $16,965
    Nontaxable benefits
    $7,680
    Filer's total
    $153,695

  • Graham Schmid

    LINE FOREMAN

    Total calculated
    $144,675
    From this org
    $127,760
    From related orgs
    $0
    Other
    $16,915
    Hours/week
    43

  • John Batte

    LINE FOREMAN

    Total calculated
    $150,945
    From this org
    $126,300
    From related orgs
    $0
    Other
    $24,645
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $125,390
    Bonus
    $0
    Other
    $910
    Deferred
    $16,965
    Nontaxable benefits
    $7,680
    Filer's total
    $150,945

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • EASTERN ILLINI BENEFITS GROUP

    INVESTMENT · INSURANCE · IL · 62.5% owned · share of income $16,745 · share of assets $25,000

    Directly controlled by EASTERN ILLINI SERVICES CORPORATION

Related corporations and trusts

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

  • EASTERN ILLINI SERVICES CORPORATION INC

    C · UTILITY SERVICES · IL · 100% owned · share of income $12,991 · share of assets $52,155

Provenance

Return type
form_990
Tax year
2023
Filed
9 May 2024
IRS schema version
2023v5.0
Source object
202431369349301228

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