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Nonprofiteer
← KEM ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by KEM ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$12,543,881
Total expenses
$12,543,881
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$11,782,360
Investment income
$72,458
Other revenue
$689,063
Total assets, end of year
$45,256,824
Total liabilities, end of year
$29,153,353
Net assets or fund balances, end of year
$16,103,471
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 POWER

    total $11,782,360 · related or exempt $11,782,360

  • 3 · Investment income

    total $72,458 · excluded $72,458

  • 10a · Gross sales of inventory

    $24,883

  • 10b · Cost of goods sold

    $24,296

  • 10c · Net income from sales of inventory

    total $587 · related or exempt $587

  • 11a · Other revenue: CAPITAL CREDITS

    total $688,476 · related or exempt $688,476

  • 11e · Other revenue, total

    $688,476

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $912,828

  • 5 · Compensation of officers, directors and key employees

    total $102,700

  • 8 · Pension plan contributions

    total $235,789

  • 11a · Fees: management

    total $257,546

  • 20 · Interest

    total $888,116

  • 22 · Depreciation, depletion and amortization

    total $1,299,070

  • 24a · Other expenses: COST OF POWER

    total $5,198,649

  • 24b · Other expenses: DISTRIBUTION/TRANSMISSI

    total $2,381,151

  • 24c · Other expenses: ADMINISTRATIVE & GENERA

    total $956,139

  • 24d · Other expenses: CONSUMER SERVICES AND S

    total $308,338

  • 24e · All other expenses

    total $3,555

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,005,504 · end of year $3,157,330

  • 2 · Savings and temporary cash investments

    beginning of year $1,100,000 · end of year $1,100,000

  • 4 · Accounts receivable

    beginning of year $579,294 · end of year $1,407,256

  • 7 · Other notes and loans receivable

    beginning of year $54,815 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $1,342,126 · end of year $1,682,359

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,077 · end of year $9,887

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

    $57,116,708

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

    $24,167,669

  • 10c · Land, buildings and equipment, net

    beginning of year $31,960,889 · end of year $32,949,039

  • 12 · Investments: other securities

    beginning of year $4,393,265 · end of year $4,792,838

  • 15 · Other assets

    beginning of year $209,905 · end of year $158,115

  • 17 · Accounts payable and accrued expenses

    beginning of year $744,478 · end of year $963,837

  • 23 · Secured mortgages and notes payable

    beginning of year $23,552,819 · end of year $27,448,319

  • 25 · Other liabilities

    beginning of year $805,046 · end of year $741,197

  • 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 $15,553,532 · end of year $16,103,471

Mission and programs · 2022

Mission

THE PURPOSE OF KEM ELECTRIC IS TO MAKE ITS MEMBERS MORE PRODUCTIVE AND INCREASE THEIR QUALITY OF LIFE. THIS WILL BE ACCOMPLISHED BY: PROVIDING SAFE, RELIABLE, QUALITY ELECTRIC SERVICE; PROVIDING OTHER SERVICES THAT WILL BENEFIT THE MEMBERSHIP.

Activities or mission (Part I)

KEM ELECTRIC COOPERATIVE, INC., IS A DISTRIBUTION COOPERATIVE THAT PROVIDES ELECTRICAL ENERGY TO CONSUMERS IN THE RURAL AREAS OF FOUR SOUTH CENTRAL COUNTIES IN NORTH DAKOTA.

  • RURAL ELECTRIC POWER COOP SUPPLYING POWER TO RURAL MEMBERS

As filed on the 2022 return.

Listed in Part VII

  • Dean Dewald

    DIRECTOR

    Total calculated
    $10,900
    From this org
    $10,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    15.92

  • Carmen Essig

    VICE CHAIR

    Total calculated
    $19,900
    From this org
    $19,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    28.83

  • Carter Vander Wal

    SECRETARY/TREASURER

    Total calculated
    $12,900
    From this org
    $12,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    18.83

  • Victor Wald

    CHAIRMAN

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.17

  • John Beck

    DIRECTOR

    Total calculated
    $15,300
    From this org
    $15,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    27.92

  • Dean Hummel

    DIRECTOR

    Total calculated
    $21,200
    From this org
    $21,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    29.5

  • Neil Meidinger

    DIRECTOR

    Total calculated
    $11,700
    From this org
    $11,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    19.33

  • Don Franklund Iea

    CO-MANAGER

    Total calculated
    $0
    Hours/week
    0 + 40 related

  • Travis Kupper Iea

    CO-MANAGER

    Total calculated
    $0
    Hours/week
    0 + 40 related

  • Alex Craigmile Iea

    CFO

    Total calculated
    $0
    Hours/week
    0 + 40 related

  • Dale Nagel

    CHIEF OF STAFF

    Total calculated
    $217,667
    From this org
    $138,700
    From related orgs
    $0
    Other
    $78,967
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,700
    Bonus
    $0
    Other
    $0
    Deferred
    $48,181
    Nontaxable benefits
    $30,786
    Filer's total
    $217,667

  • Martin Messer

    AREA FOREMAN

    Total calculated
    $189,736
    From this org
    $130,531
    From related orgs
    $0
    Other
    $59,205
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,531
    Bonus
    $0
    Other
    $0
    Deferred
    $29,394
    Nontaxable benefits
    $29,811
    Filer's total
    $189,736

  • Tyler Schummer

    JOURNEYMAN LINEMAN

    Total calculated
    $159,325
    From this org
    $128,231
    From related orgs
    $0
    Other
    $31,094
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,231
    Bonus
    $0
    Other
    $0
    Deferred
    $6,492
    Nontaxable benefits
    $24,602
    Filer's total
    $159,325

  • Kevin Horner

    AREA FOREMAN

    Total calculated
    $190,001
    From this org
    $130,530
    From related orgs
    $0
    Other
    $59,471
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,530
    Bonus
    $0
    Other
    $0
    Deferred
    $33,039
    Nontaxable benefits
    $26,432
    Filer's total
    $190,001

  • Austin Ohlhauser

    JOURNEYMAN LINEMAN

    Total calculated
    $172,071
    From this org
    $117,313
    From related orgs
    $0
    Other
    $54,758
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,313
    Bonus
    $0
    Other
    $0
    Deferred
    $27,470
    Nontaxable benefits
    $27,288
    Filer's total
    $172,071

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

None.

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.

  • OPERATION ROUNDUP

    501(C)(3) · CHARITABLE CONTRIBUTIONS TO LOW INCOME AND NEEDY FAMILIES · ND

Provenance

Return type
form_990
Tax year
2022
Filed
8 August 2023
IRS schema version
2022v5.0
Source object
202322769349301117

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