Totals
- Total revenue
- $17,582,301
- Total expenses
- $17,582,301
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $17,306,700
- Investment income
- $260,806
- Other revenue
- $14,795
- Total assets, end of year
- $60,063,120
- Total liabilities, end of year
- $28,248,890
- Net assets or fund balances, end of year
- $31,814,230
- 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: CAPITAL CREDITS
total $725,355 · related or exempt $725,355
-
2b · Program service revenue: MISCELLANEOUS SERVICE REV
total $99,593 · related or exempt $99,593
-
2c · Program service revenue: POLE RENTAL
total $12,152 · excluded $12,152
-
2d · Program service revenue: SALE OF ELECTRICITY
total $16,469,600 · related or exempt $16,469,600
-
3 · Investment income
total $259,668 · excluded $259,668
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
other assets $1,138
-
7c · Gain or loss
other assets $1,138
-
7d · Net gain or loss
total $1,138 · related or exempt $1,138
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Merchandising, Contract
total $14,795 · related or exempt $14,795
-
11e · Other revenue, total
$14,795
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $728,960
-
5 · Compensation of officers, directors and key employees
total $349,692
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $2,559,263
-
8 · Pension plan contributions
total $606,195
-
9 · Other employee benefits
total $676,974
-
10 · Payroll taxes
total $223,925
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $864,837
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $1,431,984
-
23 · Insurance
total $0
-
24a · Other expenses: Cost of Purchased Power
total $9,523,255
-
24b · Other expenses: Distribution Expense
total $3,079,159
-
24c · Other expenses: ADMIN & GENERAL EXP
total $984,240
-
24d · Other expenses: CUSTOMER ACCOUNTS EXP
total $602,786
-
24e · All other expenses
total -$4,048,969
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $855,094 · end of year $805,657
-
2 · Savings and temporary cash investments
beginning of year $4,426,734 · end of year $2,000,341
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $1,589,056 · end of year $1,806,404
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
beginning of year $1,674,253 · end of year $1,583,803
-
9 · Prepaid expenses and deferred charges
beginning of year $107,274 · end of year $120,671
-
10a · Land, buildings and equipment: cost or other basis
$62,813,607
-
10b · Land, buildings and equipment: accumulated depreciation
$20,729,189
-
10c · Land, buildings and equipment, net
beginning of year $38,997,345 · end of year $42,084,418
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $11,125,331 · end of year $11,661,826
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $1,224,432 · end of year $1,517,613
-
23 · Secured mortgages and notes payable
beginning of year $25,382,964 · end of year $26,634,848
-
25 · Other liabilities
beginning of year $88,283 · end of year $96,429
-
31 · Retained earnings, endowment or other funds
beginning of year $32,079,408 · end of year $31,814,230
Mission and programs · 2024
Mission
TO PROVIDE RELIABLE ELECTRIC SERVICE TO OUR MEMBERS/OWNERS [C - CONTINUALLY COMMUNICATE OUR COMMITMENT TO COMMUNITY; P - PLAN PRODUCTIVELY, PERFECT OUR POTENTIAL AND BE PASSIONATE ABOUT OUR MEMBER/OWNER PERSPECTIVE; & L - LEARN, LEAD AND LIGHT THE WAY TO BETTER THE QUALITY OF LIFE FOR OUR MEMBERS/OWNERS]
-
PROVIDE RELIABLE ELECTRIC SERVICE TO RURAL ELECTRIC MEMBER/OWNERS.
-
PROVIDE OTHER SERVICES TO MEMBER/OWNERS, INCLUDING SATELLITE INTERNET SERVICES, THERMAL ELECTRIC STORAGE HEATERS, ELECTRIC WATER HEATERS, AND POWER QUALITY MATERIALS AND EQUIPMENT.
As filed on the 2024 return.
Listed in Part VII
-
Russell WaldnerRUSSELL WALDNER
GENERAL MANAGER
- Total calculated
- $267,650
- From this org
- $188,982
- From related orgs
- $0
- Other
- $78,668
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $188,982
- Bonus
- not reported
- Other
- not reported
- Deferred
- $49,594
- Nontaxable benefits
- $29,074
- Filer's total
- $267,650
-
Matthew LoveMATTHEW LOVE
Line Foreman
- Total calculated
- $221,083
- From this org
- $125,444
- From related orgs
- $0
- Other
- $95,639
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $125,444
- Bonus
- not reported
- Other
- not reported
- Deferred
- $62,192
- Nontaxable benefits
- $33,447
- Filer's total
- $221,083
-
Thomas Westring
DIR OF OPERATIONS
- Total calculated
- $212,097
- From this org
- $134,849
- From related orgs
- $0
- Other
- $77,248
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,849
- Bonus
- not reported
- Other
- not reported
- Deferred
- $43,882
- Nontaxable benefits
- $33,366
- Filer's total
- $212,097
-
Kirby LarsonKIRBY LARSON
Journeyman Lineman
- Total calculated
- $185,226
- From this org
- $134,937
- From related orgs
- $0
- Other
- $50,289
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,937
- Bonus
- not reported
- Other
- not reported
- Deferred
- $17,208
- Nontaxable benefits
- $33,081
- Filer's total
- $185,226
-
James BeckmannJAMES BECKMANN
Dir of Engineering
- Total calculated
- $175,136
- From this org
- $120,979
- From related orgs
- $0
- Other
- $54,157
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $120,979
- Bonus
- not reported
- Other
- not reported
- Deferred
- $28,637
- Nontaxable benefits
- $25,520
- Filer's total
- $175,136
-
Brady BorowskiBRADY BOROWSKI
Journeyman Lineman
- Total calculated
- $162,628
- From this org
- $120,160
- From related orgs
- $0
- Other
- $42,468
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $120,160
- Bonus
- not reported
- Other
- not reported
- Deferred
- $9,484
- Nontaxable benefits
- $32,984
- Filer's total
- $162,628
-
Everett SummersEVERETT SUMMERS
Director
- Total calculated
- $10,550
- From this org
- $10,550
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Kenneth CurryKENNETH CURRY
Secretary
- Total calculated
- $10,394
- From this org
- $10,394
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.25
-
Shae JohnsonSHAE JOHNSON
Director
- Total calculated
- $9,883
- From this org
- $9,883
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.5
-
Joe DevineJOE DEVINE
Director
- Total calculated
- $9,200
- From this org
- $9,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.12
-
James RogersJAMES ROGERS
President
- Total calculated
- $9,036
- From this org
- $9,036
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.83
-
N Clay ThompsonN CLAY THOMPSON
Vice President
- Total calculated
- $8,896
- From this org
- $8,896
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.39
-
Roger CoxROGER COX
Director
- Total calculated
- $8,798
- From this org
- $8,798
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.79
-
Debra ReichertDEBRA REICHERT
Treasurer
- Total calculated
- $7,959
- From this org
- $7,959
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.5
-
Shawn BrownSHAWN BROWN
Director
- Total calculated
- $3,881
- From this org
- $3,881
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1.94
-
Gary JacobsenGARY JACOBSEN
Secretary
- Total calculated
- $3,445
- From this org
- $3,445
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1.6
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
- 6 June 2025
- IRS schema version
- 2024v5.1
- Source object
- 202511579349300121
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