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Nonprofiteer
← CLAY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by CLAY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$7,870,317
Total expenses
$7,274,322
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,658,715
Investment income
$18,313
Other revenue
$193,289
Total assets, end of year
$22,402,655
Total liabilities, end of year
$9,199,998
Net assets or fund balances, end of year
$13,202,657
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$7,273,281

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 REVENUES

    total $7,571,217 · related or exempt $7,571,217

  • 2b · Program service revenue: OTHER ELECTRIC REVENUE

    total $87,498 · related or exempt $87,498

  • 3 · Investment income

    total $18,313 · excluded $18,313

  • 11a · Other revenue: CAPITAL CREDITS

    total $212,513 · excluded $212,513

  • 11b · Other revenue: 990-T REVENUE

    total $64,555 · unrelated business $64,555

  • 11c · Other revenue: 990-T EXPENSES

    total -$83,779 · unrelated business -$83,779

  • 11e · Other revenue, total

    $193,289

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $342,317

  • 20 · Interest

    total $302,639

  • 22 · Depreciation, depletion and amortization

    total $754,312

  • 24a · Other expenses: PURCHASED POWER

    total $4,216,007

  • 24b · Other expenses: DISTRIBUTION MAINTENANC

    total $667,949

  • 24c · Other expenses: ADMIN AND GENERAL

    total $378,387

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $216,846

  • 24e · All other expenses

    total $395,865

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $261,291 · end of year $429,450

  • 2 · Savings and temporary cash investments

    beginning of year $440,028 · end of year $672,845

  • 4 · Accounts receivable

    beginning of year $1,780,284 · end of year $1,597,410

  • 8 · Inventories for sale or use

    beginning of year $274,170 · end of year $373,154

  • 9 · Prepaid expenses and deferred charges

    beginning of year $635,342 · end of year $533,706

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

    $23,620,773

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

    $7,647,558

  • 10c · Land, buildings and equipment, net

    beginning of year $14,827,975 · end of year $15,973,215

  • 12 · Investments: other securities

    beginning of year $2,637,292 · end of year $2,822,875

  • 17 · Accounts payable and accrued expenses

    beginning of year $698,006 · end of year $1,020,587

  • 19 · Deferred revenue

    beginning of year $349 · end of year $349

  • 23 · Secured mortgages and notes payable

    beginning of year $7,263,349 · end of year $8,108,092

  • 25 · Other liabilities

    beginning of year $66,925 · end of year $70,970

  • 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 $1,152,032 · end of year $1,273,086

  • 31 · Retained earnings, endowment or other funds

    beginning of year $11,675,721 · end of year $11,929,571

Mission and programs · 2022

Mission

TO DISTRIBUTE ELECTRICITY TO MEMBERS

  • DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS

    Expenses $7,273,281 · Revenue $7,658,715

As filed on the 2022 return.

Listed in Part VII

  • Frank Czyzewski

    BOARD DIRECTOR

    Total calculated
    $4,830
    From this org
    $4,830
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.14

  • Frank Herman

    BOARD DIRECTOR

    Total calculated
    $4,830
    From this org
    $4,830
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.36

  • Evan Smith

    BOARD DIRECTOR

    Total calculated
    $3,150
    From this org
    $3,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.68

  • Kevin Logan

    BOARD DIRECTOR

    Total calculated
    $8,500
    From this org
    $8,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.96

  • Neil Gould

    SECRETARY

    Total calculated
    $3,780
    From this org
    $3,780
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.15

  • Bob Pierson

    PRESIDENT

    Total calculated
    $8,190
    From this org
    $8,190
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.27

  • Richard Rudolphi

    BOARD DIRECTOR

    Total calculated
    $5,460
    From this org
    $5,460
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.49

  • Josh Schnepper

    BOARD DIRECTOR

    Total calculated
    $3,570
    From this org
    $3,570
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.21

  • Bill Croy

    VICE PRESIDENT

    Total calculated
    $4,830
    From this org
    $4,830
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.35

  • Matt Conklin

    CEO

    Total calculated
    $168,975
    From this org
    $135,106
    From related orgs
    $0
    Other
    $33,869
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,106
    Bonus
    $0
    Other
    $0
    Deferred
    $26,739
    Nontaxable benefits
    $7,130
    Filer's total
    $168,975

  • Adam Smith

    LINEMAN FOREMAN

    Total calculated
    $147,623
    From this org
    $118,163
    From related orgs
    $0
    Other
    $29,460
    Hours/week
    44.32

  • Damien Bowling

    LINEMAN FOREMAN

    Total calculated
    $146,391
    From this org
    $111,571
    From related orgs
    $0
    Other
    $34,820
    Hours/week
    43.34

  • Eric Moyer

    JOURNEYMAN LINEMAN

    Total calculated
    $135,828
    From this org
    $109,575
    From related orgs
    $0
    Other
    $26,253
    Hours/week
    43.64

  • Brody Snell

    JOURNEYMAN LINEMAN

    Total calculated
    $137,618
    From this org
    $104,363
    From related orgs
    $0
    Other
    $33,255
    Hours/week
    43.23

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 · 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
16 August 2023
IRS schema version
2022v5.0
Source object
202312779349300531

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