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Nonprofiteer
← GUERNSEY-MUSKINGUM ELECTRIC COOP

Form 990 for tax year 2022

Filed by GUERNSEY-MUSKINGUM ELECTRIC COOP.

Totals

Total revenue
$40,642,443
Total expenses
$37,930,000
Contributions and grants received
$0
Grants paid
$6,100
Program service revenue
$38,732,411
Investment income
$52,173
Other revenue
$1,857,859
Total assets, end of year
$96,496,641
Total liabilities, end of year
$45,460,881
Net assets or fund balances, end of year
$51,035,760
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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: Energy Sale to Members

    total $37,962,152 · related or exempt $37,962,152 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Pole Connects

    total $454,524 · related or exempt $454,524 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Other

    total $315,735 · related or exempt $315,735 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $52,173 · related or exempt $0 · unrelated business $0 · excluded $52,173

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Patronage Capital from Assoc

    total $1,206,436 · related or exempt $1,206,436 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Misc Income/Loss

    total $651,423 · related or exempt $651,423 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,857,859

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,100

  • 5 · Compensation of officers, directors and key employees

    total $716,377

  • 7 · Other salaries and wages

    total $2,018,667

  • 8 · Pension plan contributions

    total $427,700

  • 9 · Other employee benefits

    total $455,488

  • 10 · Payroll taxes

    total $188,816

  • 11a · Fees: management

    total $102,340

  • 11b · Fees: legal

    total $125,267

  • 11c · Fees: accounting

    total $31,596

  • 11g · Fees: other

    total $2,838,825

  • 12 · Advertising and promotion

    total $107,043

  • 13 · Office expenses

    total $301,454

  • 16 · Occupancy

    total $23,406

  • 17 · Travel

    total $20,068

  • 19 · Conferences, conventions and meetings

    total $17,176

  • 20 · Interest

    total $1,327,886

  • 22 · Depreciation, depletion and amortization

    total $2,538,244

  • 24a · Other expenses: Purchase Power

    total $22,805,664

  • 24b · Other expenses: Real Estate Tax

    total $1,231,709

  • 24c · Other expenses: KWH Tax

    total $1,098,144

  • 24d · Other expenses: Transportation Expense

    total $566,504

  • 24e · All other expenses

    total $981,526

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,645,891 · end of year $666,708

  • 4 · Accounts receivable

    beginning of year $3,750,664 · end of year $4,799,330

  • 8 · Inventories for sale or use

    beginning of year $1,585,713 · end of year $970,563

  • 9 · Prepaid expenses and deferred charges

    beginning of year $842,630 · end of year $730,083

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

    $95,172,844

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

    $24,549,222

  • 10c · Land, buildings and equipment, net

    beginning of year $69,292,824 · end of year $70,623,622

  • 13 · Investments: program-related

    beginning of year $17,071,991 · end of year $17,151,243

  • 15 · Other assets

    beginning of year $1,407,285 · end of year $1,555,092

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,924,511 · end of year $4,873,560

  • 23 · Secured mortgages and notes payable

    beginning of year $40,147,226 · end of year $39,532,790

  • 25 · Other liabilities

    beginning of year $925,554 · end of year $1,054,531

  • 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 $3,872 · end of year $3,872

  • 31 · Retained earnings, endowment or other funds

    beginning of year $49,595,835 · end of year $51,031,888

Mission and programs · 2022

Mission

To provide quality electric energy and other services at lowest cost, consistent with sound economy and good management

Activities or mission (Part I)

The Cooperative operates on a non-profit basis and accounts on patronage basis to all its patrons for all amounts received and receivable from furnishing of electric and other services in excess of cost and expenses with understanding they are furnished by patrons as capital

  • The Cooperative continues to provide quality electric energy and other services to our members and served a total of 17,066 accounts at the end of 2022. In 2022, 166 new services were installed throughout our service territory. Also, in 2022 the Cooperative returned over $1,276,000 to our members through the retirement of patronage capital.

As filed on the 2022 return.

Listed in Part VII

  • Brian Hill

    General Manager/CEO

    Total calculated
    $236,614
    From this org
    $176,817
    From related orgs
    $0
    Other
    $59,797
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,817
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $59,797
    Filer's total
    $236,614

  • Kenneth Tolliver

    Operations Manager

    Total calculated
    $217,246
    From this org
    $165,317
    From related orgs
    $0
    Other
    $51,929
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,317
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $51,929
    Filer's total
    $217,246

  • Andy Bone

    Controller

    Total calculated
    $180,882
    From this org
    $130,039
    From related orgs
    $0
    Other
    $50,843
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,039
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $50,843
    Filer's total
    $180,882

  • Maureen Riley

    Secretary-Treasury

    Total calculated
    $12,780
    From this org
    $12,780
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.8

  • Jay Gray

    Director

    Total calculated
    $12,345
    From this org
    $12,345
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.4

  • Edward G Bay

    Vice Chair

    Total calculated
    $12,200
    From this org
    $12,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.2

  • John Enos

    Director

    Total calculated
    $11,190
    From this org
    $11,190
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • Shirley Stultz

    Director

    Total calculated
    $11,185
    From this org
    $11,185
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • Matt Carpenter

    Chairman

    Total calculated
    $11,185
    From this org
    $11,185
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • A Duane Parks

    Director

    Total calculated
    $10,750
    From this org
    $10,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.7

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2023
IRS schema version
2022v5.0
Source object
202341299349301589

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