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Nonprofiteer
← MONROE COUNTY ELECTRIC COOP INC

Form 990 for tax year 2022

Filed by MONROE COUNTY ELECTRIC COOP INC.

Totals

Total revenue
$18,269,028
Total expenses
$18,269,028
Contributions and grants received
$0
Grants paid
$15,000
Program service revenue
$18,091,466
Investment income
$113,255
Other revenue
$64,307
Total assets, end of year
$51,924,602
Total liabilities, end of year
$33,745,989
Net assets or fund balances, end of year
$18,178,613
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 $17,437,231 · related or exempt $17,437,231

  • 2b · Program service revenue: CAPTIAL CREDITS

    total $529,903 · related or exempt $529,903

  • 2c · Program service revenue: MISC ELECTRIC REVENUE

    total $124,332 · related or exempt $124,332

  • 3 · Investment income

    total $60,608 · excluded $60,608

  • 6a · Gross rents

    personal property $59,286

  • 6c · Rental income or loss

    personal property $59,286

  • 6d · Net rental income or loss

    total $59,286 · excluded $59,286

  • 7a · Gross sales of assets other than inventory

    other assets $52,647

  • 7c · Gain or loss

    other assets $52,647

  • 7d · Net gain or loss

    total $52,647 · related or exempt $52,647

  • 11a · Other revenue: MISC NON ELECTRIC

    total $5,278 · related or exempt $5,278

  • 11b · Other revenue: SOUTHERN SERVICES K-1

    total -$257 · unrelated business -$257

  • 11e · Other revenue, total

    $5,021

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,500

  • 2 · Grants to domestic individuals

    total $7,500

  • 4 · Benefits paid to or for members

    total $1,160,322

  • 5 · Compensation of officers, directors and key employees

    total $570,818

  • 7 · Other salaries and wages

    total $923,608

  • 20 · Interest

    total $1,125,118

  • 22 · Depreciation, depletion and amortization

    total $1,766,717

  • 24a · Other expenses: COST OF POWER

    total $9,917,493

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $1,336,763

  • 24c · Other expenses: ADMIN & GENERAL

    total $1,177,316

  • 24d · Other expenses: MEMBER SERVICES

    total $275,873

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $120,947 · end of year $615,029

  • 2 · Savings and temporary cash investments

    end of year $1,300,000

  • 4 · Accounts receivable

    beginning of year $1,342,779 · end of year $1,662,483

  • 8 · Inventories for sale or use

    beginning of year $479,710 · end of year $784,980

  • 9 · Prepaid expenses and deferred charges

    beginning of year $265,396 · end of year $516,635

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

    $62,373,909

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

    $22,262,104

  • 10c · Land, buildings and equipment, net

    beginning of year $39,939,551 · end of year $40,111,805

  • 13 · Investments: program-related

    beginning of year $6,473,850 · end of year $6,888,868

  • 15 · Other assets

    beginning of year $19,188 · end of year $44,802

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,543,983 · end of year $1,874,912

  • 19 · Deferred revenue

    beginning of year $130,567 · end of year $418,215

  • 23 · Secured mortgages and notes payable

    beginning of year $29,268,502 · end of year $31,081,019

  • 25 · Other liabilities

    beginning of year $443,263 · end of year $371,843

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

    beginning of year $788,011 · end of year $889,165

  • 31 · Retained earnings, endowment or other funds

    beginning of year $16,467,095 · end of year $17,289,448

Mission and programs · 2022

Mission

AS A MEMBER OWNED ORGANIZATION, MONROE COUNTY ELECTRIC COOPERATIVE'S MISSION IS TO PROVIDE AND MAINTAIN QUALITY ELECTRIC AND RELATED SERVICES FOR THE BENEFIT AND WELL-BEING OF ITS MEMBERS.

  • MONROE COUNTY ELECTRIC COOPERATIVE, INC. IS A MEMBER-OWNED ELECTRIC COOPERATIVE. USING APPROXIMAATELY 1,200 MILES OF DISTRIBUTION AND TRANSMISSION ELECTRIC LINE, MONROE COUNTY ELECTRIC COOPERATIVE, INC. SERVES MORE THAN 7,500 LOCAL FARMS, HOMES AND BUSINESSES LOCATED IN ILLINOIS WITH DEPENDABLE ELECTRIC POWER.

As filed on the 2022 return.

Listed in Part VII

  • Alan Wattles

    PRESIDENT &

    Total calculated
    $361,994
    From this org
    $205,945
    From related orgs
    $0
    Other
    $156,049
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $205,945
    Bonus
    not reported
    Other
    not reported
    Deferred
    $132,130
    Nontaxable benefits
    $23,919
    Filer's total
    $361,994

  • Christopher Scott

    OPERATIONS S

    Total calculated
    $217,757
    From this org
    $146,052
    From related orgs
    $0
    Other
    $71,705
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $146,052
    Bonus
    not reported
    Other
    not reported
    Deferred
    $49,447
    Nontaxable benefits
    $22,258
    Filer's total
    $217,757

  • Ronald Rusteberg

    FOREMAN

    Total calculated
    $195,641
    From this org
    $119,280
    From related orgs
    $0
    Other
    $76,361
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $119,280
    Bonus
    not reported
    Other
    not reported
    Deferred
    $63,649
    Nontaxable benefits
    $12,712
    Filer's total
    $195,641

  • Robert Gross

    FOREMAN

    Total calculated
    $174,900
    From this org
    $118,400
    From related orgs
    $0
    Other
    $56,500
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $118,400
    Bonus
    not reported
    Other
    not reported
    Deferred
    $35,060
    Nontaxable benefits
    $21,440
    Filer's total
    $174,900

  • Chris Deterding

    FOREMAN

    Total calculated
    $170,887
    From this org
    $113,336
    From related orgs
    $0
    Other
    $57,551
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $113,336
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,111
    Nontaxable benefits
    $21,440
    Filer's total
    $170,887

  • Keith Jones

    DIR ENGINEER

    Total calculated
    $164,423
    From this org
    $114,612
    From related orgs
    $0
    Other
    $49,811
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,612
    Bonus
    not reported
    Other
    not reported
    Deferred
    $28,244
    Nontaxable benefits
    $21,567
    Filer's total
    $164,423

  • Tracy Patton

    CFO

    Total calculated
    $151,896
    From this org
    $100,458
    From related orgs
    $0
    Other
    $51,438
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $100,458
    Bonus
    not reported
    Other
    not reported
    Deferred
    $30,391
    Nontaxable benefits
    $21,047
    Filer's total
    $151,896

  • George Obernagel

    DIRECTOR

    Total calculated
    $8,582
    From this org
    $8,582
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.92

  • Amy Hoffman-Rohlfing

    DIRECTOR

    Total calculated
    $8,532
    From this org
    $8,532
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.05

  • Larry Kraft

    DIRECTOR

    Total calculated
    $7,632
    From this org
    $7,632
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.87

  • Richard Neff

    DIRECTOR

    Total calculated
    $6,982
    From this org
    $6,982
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.29

  • Quent Stenzel

    DIRECTOR

    Total calculated
    $5,722
    From this org
    $5,722
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.74

  • Gary Gregson

    DIRECTOR

    Total calculated
    $5,482
    From this org
    $5,482
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.96

  • Jeff Hoffmann

    DIRECTOR

    Total calculated
    $5,482
    From this org
    $5,482
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.25

  • Rich Hollis

    DIRECTOR

    Total calculated
    $4,582
    From this org
    $4,582
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.01

  • Joel Harres

    DIRECTOR

    Total calculated
    $3,932
    From this org
    $3,932
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.78

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 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

  • 15 GRANTS TO VARIOUS SCHOOLS - 500

    $7,500

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.

  • MONROE COUNTY ENVIRONMENTAL MGMT

    C CORP · SEWER TREA · IL · 100% owned · share of assets $264,079 · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2022
Filed
23 August 2023
IRS schema version
2022v5.0
Source object
202312409349301551

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