Skip to content
Nonprofiteer
← LINCOLN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by LINCOLN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$15,263,041
Total expenses
$14,053,592
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,490,599
Investment income
$146,647
Other revenue
$1,625,795
Total assets, end of year
$38,525,613
Total liabilities, end of year
$23,736,535
Net assets or fund balances, end of year
$14,789,078
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: Electricity sales

    total $13,424,525 · related or exempt $13,424,525

  • 2b · Program service revenue: Other electric revenue

    total $66,074 · related or exempt $66,074

  • 3 · Investment income

    total $142,735 · related or exempt $114,638 · unrelated business $754 · excluded $27,343

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

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    personal property $14,585

  • 6c · Rental income or loss

    personal property $14,585

  • 6d · Net rental income or loss

    total $14,585 · excluded $14,585

  • 7a · Gross sales of assets other than inventory

    other assets $3,912

  • 7c · Gain or loss

    other assets $3,912

  • 7d · Net gain or loss

    total $3,912 · unrelated business $3,912

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $3,091,865

  • 10b · Cost of goods sold

    $1,480,589

  • 10c · Net income from sales of inventory

    total $1,611,276 · unrelated business $1,611,276

  • 11a · Other revenue: Other non-operating, net

    total -$66 · related or exempt -$66

  • 11e · Other revenue, total

    -$66

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 $484,721

  • 5 · Compensation of officers, directors and key employees

    total $825,635

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $2,912,471

  • 8 · Pension plan contributions

    total $604,392

  • 9 · Other employee benefits

    total $495,449

  • 10 · Payroll taxes

    total $294,400

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $7,657

  • 11c · Fees: accounting

    total $14,825

  • 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 $5,366

  • 13 · Office expenses

    total $233,179

  • 14 · Information technology

    total $152,003

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $7,982

  • 17 · Travel

    total $195,491

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $111,835

  • 20 · Interest

    total $801,053

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,223,260

  • 23 · Insurance

    total $106,921

  • 24a · Other expenses: Cost of power

    total $5,378,918

  • 24b · Other expenses: Distribution - operations

    total $1,750,759

  • 24c · Other expenses: Administration and general

    total $1,053,975

  • 24d · Other expenses: Distribution - maintenance

    total $820,818

  • 24e · All other expenses

    total -$3,427,518

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $163,545 · end of year $80,655

  • 2 · Savings and temporary cash investments

    beginning of year $1,077,843 · end of year $1,247,741

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $1,822,852 · end of year $2,614,252

  • 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

    beginning of year $312,127 · end of year $246,013

  • 8 · Inventories for sale or use

    beginning of year $2,864,163 · end of year $3,211,336

  • 9 · Prepaid expenses and deferred charges

    beginning of year $530,389 · end of year $504,400

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

    $45,731,916

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

    $16,646,297

  • 10c · Land, buildings and equipment, net

    beginning of year $27,476,721 · end of year $29,085,619

  • 11 · Investments: publicly traded securities

    end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    beginning of year $1,406,769 · end of year $1,479,184

  • 14 · Intangible assets

    beginning of year $66,827 · end of year $56,413

  • 15 · Other assets

    end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,961,119 · end of year $2,323,078

  • 19 · Deferred revenue

    beginning of year $1,861,071 · end of year $1,468,674

  • 23 · Secured mortgages and notes payable

    beginning of year $17,074,351 · end of year $18,380,497

  • 24 · Unsecured notes and loans payable

    beginning of year $1,085,750 · end of year $1,395,823

  • 25 · Other liabilities

    beginning of year $157,347 · end of year $168,463

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

    beginning of year $1,405,491 · end of year $1,883,782

  • 31 · Retained earnings, endowment or other funds

    beginning of year $12,176,107 · end of year $12,905,296

Mission and programs · 2023

Mission

Rural electric cooperative established to provide electrical power and services to its members located in portions of Lincoln and Flathead counties of Montana.

Activities or mission (Part I)

Lincoln Electric Cooperative, Inc. is an electric distribution cooperative established to provide electrical power and services to over 4,600 members located in portions of Lincoln and Flathead counties of Montana.

  • Cooperative resources and activities are related to providing distribution of electrical power and services to approximately 5,100 members located in portions of Lincoln and Flathead counties of Montana.

As filed on the 2023 return.

Listed in Part VII

  • Telly Stanger

    General Manager

    Total calculated
    $360,664
    From this org
    $297,711
    From related orgs
    $0
    Other
    $62,953
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $142,453
    Bonus
    $4,487
    Other
    $150,771
    Deferred
    $42,082
    Nontaxable benefits
    $20,871
    Filer's total
    $360,664

  • Stanley Williams

    Mgr of Ops & Engin

    Total calculated
    $211,232
    From this org
    $144,659
    From related orgs
    $0
    Other
    $66,573
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $137,847
    Bonus
    $6,812
    Other
    not reported
    Deferred
    $42,063
    Nontaxable benefits
    $24,510
    Filer's total
    $211,232

  • Kylie Larson

    Interim GM

    Total calculated
    $200,401
    From this org
    $141,053
    From related orgs
    $0
    Other
    $59,348
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $130,114
    Bonus
    $7,537
    Other
    $3,402
    Deferred
    $35,078
    Nontaxable benefits
    $24,270
    Filer's total
    $200,401

  • Mark Stark

    Engineer

    Total calculated
    $196,924
    From this org
    $135,555
    From related orgs
    $0
    Other
    $61,369
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $127,374
    Bonus
    $8,181
    Other
    not reported
    Deferred
    $38,781
    Nontaxable benefits
    $22,588
    Filer's total
    $196,924

  • Michelle Wilbur

    CFO

    Total calculated
    $192,045
    From this org
    $131,813
    From related orgs
    $0
    Other
    $60,232
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $121,112
    Bonus
    $8,335
    Other
    $2,366
    Deferred
    $35,920
    Nontaxable benefits
    $24,312
    Filer's total
    $192,045

  • Ed Sutherland

    Foreman

    Total calculated
    $190,152
    From this org
    $143,164
    From related orgs
    $0
    Other
    $46,988
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $142,062
    Bonus
    $802
    Other
    $300
    Deferred
    $34,173
    Nontaxable benefits
    $12,815
    Filer's total
    $190,152

  • Ryan Cameron

    Lineman

    Total calculated
    $177,489
    From this org
    $133,535
    From related orgs
    $0
    Other
    $43,954
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $131,631
    Bonus
    $1,604
    Other
    $300
    Deferred
    $31,237
    Nontaxable benefits
    $12,717
    Filer's total
    $177,489

  • Brendan Nichols

    Lineman

    Total calculated
    $175,086
    From this org
    $133,895
    From related orgs
    $0
    Other
    $41,191
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $132,793
    Bonus
    $802
    Other
    $300
    Deferred
    $28,474
    Nontaxable benefits
    $12,717
    Filer's total
    $175,086

  • Marianne Roose

    Trustee

    Total calculated
    $17,325
    From this org
    $17,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Tina Taurman

    President

    Total calculated
    $16,425
    From this org
    $16,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Sandra Mason

    Secre/Treasurer

    Total calculated
    $8,550
    From this org
    $8,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Rick Peterson

    Trustee

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ethel White

    Trustee

    Total calculated
    $6,825
    From this org
    $6,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Myra Appel

    Trustee

    Total calculated
    $6,300
    From this org
    $6,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Rebecca Evins

    Vice President

    Total calculated
    $3,450
    From this org
    $3,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Joel Graves

    Trustee

    Total calculated
    $3,300
    From this org
    $3,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Michael Garner

    Secre/Treasurer

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Rodney Kane

    Trustee

    Total calculated
    $750
    From this org
    $750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Rural Propane Services

    Sale of Propane and related services · MT · income $1,613,973 · assets $3,786,776

    Directly controlled by Lincoln Electric Cooperative

Provenance

Return type
form_990
Tax year
2023
Filed
25 October 2024
IRS schema version
2023v5.1
Source object
202442999349301019

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.