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Nonprofiteer
← CENTRAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by CENTRAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$50,342,119
Total expenses
$51,333,063
Contributions and grants received
$0
Grants paid
$143,019
Program service revenue
$48,482,789
Investment income
$569,370
Other revenue
$1,289,960
Total assets, end of year
$128,010,635
Total liabilities, end of year
$77,099,103
Net assets or fund balances, end of year
$50,911,532
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: SALE AND DIST. OF ELECTRIC

    total $47,897,068 · related or exempt $47,897,068

  • 2b · Program service revenue: CONT. IN AID OF CONST.

    total $535,228 · related or exempt $535,228

  • 2c · Program service revenue: CASH PATRONAGE RECEIVED

    total $50,493 · related or exempt $50,493

  • 3 · Investment income

    total $472,181 · excluded $472,181

  • 6a · Gross rents

    personal property $1,229,543

  • 6c · Rental income or loss

    personal property $1,229,543

  • 6d · Net rental income or loss

    total $1,229,543 · excluded $1,229,543

  • 7a · Gross sales of assets other than inventory

    other assets $97,189

  • 7c · Gain or loss

    other assets $97,189

  • 7d · Net gain or loss

    total $97,189 · excluded $97,189

  • 11a · Other revenue: OTHER INCOME

    total $57,833 · related or exempt $57,833

  • 11b · Other revenue: EARNINGS FROM EQ. INV.

    total $2,584 · related or exempt $2,584

  • 11e · Other revenue, total

    $60,417

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $143,019

  • 4 · Benefits paid to or for members

    total $3,335,578

  • 5 · Compensation of officers, directors and key employees

    total $956,451

  • 7 · Other salaries and wages

    total $6,265,687

  • 8 · Pension plan contributions

    total $1,015,930

  • 9 · Other employee benefits

    total $364,356

  • 10 · Payroll taxes

    total $551,069

  • 11b · Fees: legal

    total $52,620

  • 17 · Travel

    total $1,680,097

  • 19 · Conferences, conventions and meetings

    total $68,739

  • 20 · Interest

    total $1,954,386

  • 22 · Depreciation, depletion and amortization

    total $5,046,963

  • 24a · Other expenses: COST OF POWER

    total $23,373,328

  • 24b · Other expenses: DISTRIBUTION OPS & MAINT

    total $7,594,673

  • 24c · Other expenses: ADMINISTRATIVE AND GENERA

    total $2,226,719

  • 24d · Other expenses: CONSUMER ACCT & CUST SERV

    total $702,491

  • 24e · All other expenses

    total -$3,999,043

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,467,838 · end of year $2,126,400

  • 2 · Savings and temporary cash investments

    beginning of year $4,125,328 · end of year $5,274,905

  • 4 · Accounts receivable

    beginning of year $5,802,153 · end of year $5,888,715

  • 8 · Inventories for sale or use

    beginning of year $1,371,553 · end of year $1,314,710

  • 9 · Prepaid expenses and deferred charges

    beginning of year $783,149 · end of year $600,994

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

    $152,965,100

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

    $57,850,168

  • 10c · Land, buildings and equipment, net

    beginning of year $92,146,332 · end of year $95,114,932

  • 13 · Investments: program-related

    beginning of year $16,647,794 · end of year $17,689,979

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,388,725 · end of year $4,169,307

  • 23 · Secured mortgages and notes payable

    beginning of year $64,150,314 · end of year $63,750,266

  • 25 · Other liabilities

    beginning of year $8,524,266 · end of year $9,179,530

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

    beginning of year $10,596,212 · end of year $13,028,331

  • 31 · Retained earnings, endowment or other funds

    beginning of year $38,684,630 · end of year $37,883,201

Mission and programs · 2023

Mission

PROVISION OF ELECTRIC DISTRIBUTION SERVICE ON A COOPERATIVE BASIS TO MEMBERS IN RURAL PENNSYLVANIA.

Activities or mission (Part I)

PROVISION OF ELECTRIC DISTRIBUTION SERVICE ON A COOPERATIVE BASIS TO MEMBERS IN RURAL PA.

  • PROVIDSION OF ELECTRIC DISTRIBUTION SERVICE ON A COOPERATIVE BASIS TO MEMBERS IN RURAL PENNSYLVANIA. THE THREE LARGEST PROGRAM SERVICES, AS MEASURED BY EXPENSES WERE AS FOLLOWS: COST OF POWER: 23,373,328 DISTRIBUTION MAINTENANCE & DISTRIBUTION OPERATION : 7,594,673 OTHER SALARIES AND WAGES: 6,265,687

  • PROVISION OF ELECTRIC DISTRIBUTION SERVICE ON A COOPERATIVE BASIS TO MEMBERS IN RURAL PENNSYLVANIA.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matthew Boshaw

    CEO/GENERAL

    Total calculated
    $354,364
    From this org
    $272,146
    From related orgs
    $0
    Other
    $82,218
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $260,077
    Bonus
    not reported
    Other
    $12,069
    Deferred
    $53,621
    Nontaxable benefits
    $28,597
    Filer's total
    $354,364

  • Fred Terwilliger

    ASSISTANT GM

    Total calculated
    $257,362
    From this org
    $195,784
    From related orgs
    $0
    Other
    $61,578
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,350
    Bonus
    not reported
    Other
    $13,434
    Deferred
    $34,754
    Nontaxable benefits
    $26,824
    Filer's total
    $257,362

  • Chester Conti

    CFO

    Total calculated
    $211,804
    From this org
    $154,730
    From related orgs
    $0
    Other
    $57,074
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,336
    Bonus
    not reported
    Other
    $1,394
    Deferred
    $30,780
    Nontaxable benefits
    $26,294
    Filer's total
    $211,804

  • Lisa A Hoover

    DIRECTOR OF

    Total calculated
    $206,641
    From this org
    $154,058
    From related orgs
    $0
    Other
    $52,583
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,673
    Bonus
    not reported
    Other
    $1,385
    Deferred
    $30,767
    Nontaxable benefits
    $21,816
    Filer's total
    $206,641

  • Christopher W Kossman

    DIRECTOR OF

    Total calculated
    $200,553
    From this org
    $147,019
    From related orgs
    $0
    Other
    $53,534
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,711
    Bonus
    not reported
    Other
    $308
    Deferred
    $27,560
    Nontaxable benefits
    $25,974
    Filer's total
    $200,553

  • Terry A Kriebel

    LINEMAN

    Total calculated
    $179,076
    From this org
    $136,437
    From related orgs
    $0
    Other
    $42,639
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,162
    Bonus
    not reported
    Other
    $275
    Deferred
    $17,756
    Nontaxable benefits
    $24,883
    Filer's total
    $179,076

  • Douglas L McQuiston

    LINEMAN

    Total calculated
    $174,193
    From this org
    $136,635
    From related orgs
    $0
    Other
    $37,558
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,889
    Bonus
    not reported
    Other
    $746
    Deferred
    $16,942
    Nontaxable benefits
    $20,616
    Filer's total
    $174,193

  • Greg F Bly

    LINEMAN

    Total calculated
    $173,202
    From this org
    $136,744
    From related orgs
    $0
    Other
    $36,458
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,062
    Bonus
    not reported
    Other
    $682
    Deferred
    $17,730
    Nontaxable benefits
    $18,728
    Filer's total
    $173,202

  • Robert W Smith

    PRESIDENT

    Total calculated
    $19,183
    From this org
    $19,183
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Nancy D Lendyak

    DIRECTOR

    Total calculated
    $19,035
    From this org
    $19,035
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Alfred J Campbell

    VICE PRESIDE

    Total calculated
    $17,658
    From this org
    $17,658
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jody P Weaver

    DIRECTOR

    Total calculated
    $17,389
    From this org
    $17,389
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Althea Smith

    SECRETARY/TR

    Total calculated
    $16,764
    From this org
    $16,764
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kenneth D Durrett

    DIRECTOR

    Total calculated
    $14,896
    From this org
    $14,896
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Richard L Weaver

    DIRECTOR

    Total calculated
    $14,239
    From this org
    $14,239
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kenneth D Etzel

    DIRECTOR

    Total calculated
    $13,757
    From this org
    $13,757
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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 · Independent compensation consultant
  • 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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CENTRAL ELECTRIC SERVICES CORPORATI

    INTERNET · PA

  • COOPERATIVE SOLUTIONS INC

    BUS. SVCS. · PA

Provenance

Return type
form_990
Tax year
2023
Filed
20 August 2024
IRS schema version
2023v5.0
Source object
202412399349300526

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