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Nonprofiteer
← OSCEOLA ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by OSCEOLA ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$8,860,104
Total expenses
$8,527,231
Contributions and grants received
$0
Grants paid
$13,350
Program service revenue
$8,787,198
Investment income
$74,428
Other revenue
-$1,522
Total assets, end of year
$21,723,724
Total liabilities, end of year
$9,446,229
Net assets or fund balances, end of year
$12,277,495
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 OF ELECTRICITY

    total $8,234,737 · related or exempt $8,234,737

  • 2b · Program service revenue: COOP CAPITAL CREDITS

    total $552,461 · related or exempt $552,461

  • 3 · Investment income

    total $74,428 · excluded $74,428

  • 10a · Gross sales of inventory

    $28,005

  • 10b · Cost of goods sold

    $29,527

  • 10c · Net income from sales of inventory

    total -$1,522 · related or exempt -$1,522

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $11,054

  • 2 · Grants to domestic individuals

    total $2,296

  • 4 · Benefits paid to or for members

    total $332,873

  • 5 · Compensation of officers, directors and key employees

    total $268,170

  • 7 · Other salaries and wages

    total $447,111

  • 8 · Pension plan contributions

    total $181,828

  • 10 · Payroll taxes

    total $46,259

  • 11g · Fees: other

    total $33,252

  • 13 · Office expenses

    total $16,710

  • 19 · Conferences, conventions and meetings

    total $74,203

  • 20 · Interest

    total $274,121

  • 22 · Depreciation, depletion and amortization

    total $454,238

  • 24a · Other expenses: PURCHASED POWER

    total $5,763,068

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $422,896

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $382,713

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $226,100

  • 24e · All other expenses

    total -$409,661

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,642,886 · end of year $1,203,488

  • 4 · Accounts receivable

    beginning of year $588,890 · end of year $2,063,659

  • 8 · Inventories for sale or use

    beginning of year $457,575 · end of year $1,145,723

  • 9 · Prepaid expenses and deferred charges

    beginning of year $147,123 · end of year $107,328

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

    $15,933,684

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

    $3,749,976

  • 10c · Land, buildings and equipment, net

    beginning of year $11,873,036 · end of year $12,183,708

  • 12 · Investments: other securities

    beginning of year $306,758 · end of year $412,388

  • 13 · Investments: program-related

    beginning of year $4,105,656 · end of year $4,594,317

  • 15 · Other assets

    beginning of year $10,310 · end of year $13,113

  • 17 · Accounts payable and accrued expenses

    beginning of year $634,695 · end of year $2,319,248

  • 21 · Escrow or custodial account liability

    beginning of year $66 · end of year $78

  • 23 · Secured mortgages and notes payable

    beginning of year $5,851,035 · end of year $6,414,154

  • 25 · Other liabilities

    beginning of year $879,644 · end of year $712,749

  • 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 $4,370 · end of year $4,355

  • 31 · Retained earnings, endowment or other funds

    beginning of year $11,762,424 · end of year $12,273,140

Mission and programs · 2023

Mission

SALE OF ELECTRICITY TO MEMBERS TO GENERATE INCOME FOR THE SOLE PURPOSE OF MEETING LOSSES AND EXPENSES.

Activities or mission (Part I)

RURAL ELECTRIC COOPERATIVE THAT PROVIDES ELECTRIC SERVICE TO ITS MEMBERS.

  • SUCCESSFULLY DELIVERED ELECTRIC SERVICE TO APPROXIMATELY 871 CONSUMERS IN NORTHWEST IOWA.

As filed on the 2023 return.

Listed in Part VII

  • Ronald Jacobs

    PRESIDENT UNTIL 03/2023

    Total calculated
    $2,100
    From this org
    $2,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.7

  • Terrence Clark

    VICE PRESIDENT/PRESIDENT FROM 04/2023

    Total calculated
    $8,775
    From this org
    $8,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Dean Haspels

    SECRETARY/TREASURER

    Total calculated
    $9,125
    From this org
    $9,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.7

  • Steve Voss

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.2

  • Edward Strouth

    DIRECTOR UNTIL 10/2023

    Total calculated
    $1,250
    From this org
    $1,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.6

  • Adam Hoekstra

    DIRECTOR

    Total calculated
    $7,500
    From this org
    $7,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4

  • Derek Ackerman

    DIRECTOR/VICE PRESIDENT FROM 04/2023

    Total calculated
    $6,750
    From this org
    $6,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.4

  • Daniel Heilman

    DIRECTOR FROM 03/2023

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.4

  • Douglas Roth

    DIRECTOR FROM 11/2023

    Total calculated
    $1,750
    From this org
    $1,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.1

  • Jeff Tennapel

    EXECUTIVE VP/GENERAL MANAGER

    Total calculated
    $251,977
    From this org
    $156,630
    From related orgs
    $0
    Other
    $95,347
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,299
    Bonus
    $0
    Other
    $1,331
    Deferred
    $77,587
    Nontaxable benefits
    $19,618
    Filer's total
    $253,835

  • Tommy Storey Jr

    LINE FOREMAN

    Total calculated
    $168,091
    From this org
    $109,385
    From related orgs
    $0
    Other
    $58,706
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,497
    Bonus
    $0
    Other
    $888
    Deferred
    $36,782
    Nontaxable benefits
    $23,176
    Filer's total
    $169,343

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

The filer's explanations (Part III)

SCHEDULE J PART II COLUMN C
COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN OF $69,775 FOR JEFFERY TEN NAPEL. THE COOPERATIVE'S ACTUAL EXPENSE FOR 2023 WAS $38,360. COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN OF $31,433 FOR TOMMY STOREY. THE COOPERATIVE'S ACTUAL EXPENSE FOR 2023 WAS $25,823.

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
2023
Filed
30 August 2024
IRS schema version
2023v5.1
Source object
202412439349301101

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