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Nonprofiteer
← CLAY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by CLAY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$8,496,706
Total expenses
$7,828,839
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$8,137,000
Investment income
$45,484
Other revenue
$314,222
Total assets, end of year
$24,335,610
Total liabilities, end of year
$10,189,173
Net assets or fund balances, end of year
$14,146,437
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$7,828,839

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 $8,055,614 · related or exempt $8,055,614

  • 2b · Program service revenue: OTHER ELECTRIC REVENUE

    total $81,386 · related or exempt $81,386

  • 3 · Investment income

    total $18,909 · excluded $18,909

  • 7a · Gross sales of assets other than inventory

    other assets $26,575

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

    other assets $0

  • 7c · Gain or loss

    other assets $26,575

  • 7d · Net gain or loss

    total $26,575 · excluded $26,575

  • 11a · Other revenue: PATRONAGE REVENUE

    total $206,253 · related or exempt $206,253

  • 11b · Other revenue: NON UTILITY REVENUE

    total $107,969 · unrelated business $107,969

  • 11e · Other revenue, total

    $314,222

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $247,418

  • 7 · Other salaries and wages

    total $103,639

  • 13 · Office expenses

    total $61,044

  • 16 · Occupancy

    total $64,427

  • 20 · Interest

    total $408,946

  • 22 · Depreciation, depletion and amortization

    total $731,439

  • 24a · Other expenses: NON UTILITY EXPENSES

    total $106,603

  • 24b · Other expenses: PURCHASED POWER

    total $4,395,452

  • 24c · Other expenses: DISTRIBUTION MAINTENANC

    total $867,061

  • 24d · Other expenses: ADMIN AND GENERAL

    total $268,493

  • 24e · All other expenses

    total $574,317

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $259,735 · end of year $373,266

  • 2 · Savings and temporary cash investments

    beginning of year $61,786 · end of year $64,639

  • 4 · Accounts receivable

    beginning of year $2,183,712 · end of year $2,105,986

  • 8 · Inventories for sale or use

    beginning of year $225,015 · end of year $236,968

  • 9 · Prepaid expenses and deferred charges

    beginning of year $443,821 · end of year $359,821

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

    $26,025,070

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

    $8,031,932

  • 10c · Land, buildings and equipment, net

    beginning of year $17,598,730 · end of year $17,993,138

  • 12 · Investments: other securities

    beginning of year $3,016,779 · end of year $3,201,792

  • 17 · Accounts payable and accrued expenses

    beginning of year $690,298 · end of year $776,439

  • 19 · Deferred revenue

    beginning of year $349 · end of year $349

  • 23 · Secured mortgages and notes payable

    beginning of year $9,309,066 · end of year $9,308,955

  • 25 · Other liabilities

    beginning of year $75,240 · end of year $103,430

  • 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 $1,487,854 · end of year $1,591,578

  • 31 · Retained earnings, endowment or other funds

    beginning of year $12,226,771 · end of year $12,554,859

Mission and programs · 2024

Mission

TO DISTRIBUTE ELECTRICITY TO MEMBERS

  • DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS

    Expenses $7,828,839 · Revenue $8,343,253

As filed on the 2024 return.

Listed in Part VII

  • Frank Czyzewski

    BOARD DIRECTOR

    Total calculated
    $5,850
    From this org
    $5,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    13

  • Frank Herman

    BOARD DIRECTOR

    Total calculated
    $5,400
    From this org
    $5,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Evan Smith

    BOARD DIRECTOR

    Total calculated
    $4,050
    From this org
    $4,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kevin Logan

    BOARD DIRECTOR

    Total calculated
    $8,500
    From this org
    $8,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Neil Gould

    SECRETARY

    Total calculated
    $2,925
    From this org
    $2,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Bob Pierson

    PRESIDENT

    Total calculated
    $7,650
    From this org
    $7,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    28

  • Richard Rudolphi

    BOARD DIRECTOR

    Total calculated
    $5,625
    From this org
    $5,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Josh Schnepper

    BOARD DIRECTOR

    Total calculated
    $2,925
    From this org
    $2,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Bill Croy

    VICE PRESIDENT

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Matt Conklin

    CEO

    Total calculated
    $199,993
    From this org
    $152,371
    From related orgs
    $0
    Other
    $47,622
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,371
    Bonus
    $0
    Other
    $0
    Deferred
    $35,814
    Nontaxable benefits
    $11,808
    Filer's total
    $199,993

  • Adam Smith

    LINEMAN FOREMAN

    Total calculated
    $169,675
    From this org
    $137,776
    From related orgs
    $0
    Other
    $31,899
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $137,776
    Bonus
    $0
    Other
    $0
    Deferred
    $26,299
    Nontaxable benefits
    $5,600
    Filer's total
    $169,675

  • Damien Bowling

    LINEMAN FOREMAN

    Total calculated
    $164,547
    From this org
    $128,515
    From related orgs
    $0
    Other
    $36,032
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $128,515
    Bonus
    $0
    Other
    $0
    Deferred
    $26,299
    Nontaxable benefits
    $9,733
    Filer's total
    $164,547

  • Eric Moyer

    JOURNEYMAN LINEMAN

    Total calculated
    $165,390
    From this org
    $135,555
    From related orgs
    $0
    Other
    $29,835
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $135,555
    Bonus
    $0
    Other
    $0
    Deferred
    $25,028
    Nontaxable benefits
    $4,807
    Filer's total
    $165,390

  • Phillip Durre

    JOURNEYMAN LINEMAN

    Total calculated
    $155,448
    From this org
    $126,180
    From related orgs
    $0
    Other
    $29,268
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,180
    Bonus
    $0
    Other
    $0
    Deferred
    $25,028
    Nontaxable benefits
    $4,240
    Filer's total
    $155,448

  • Brody Snell

    JOURNEYMAN LINEMAN

    Total calculated
    $165,870
    From this org
    $135,505
    From related orgs
    $0
    Other
    $30,365
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $135,505
    Bonus
    $0
    Other
    $0
    Deferred
    $25,028
    Nontaxable benefits
    $5,337
    Filer's total
    $165,870

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
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202533169349302123

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