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Nonprofiteer
← HEARTLAND RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by HEARTLAND RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$26,562,326
Total expenses
$26,857,157
Contributions and grants received
$0
Grants paid
$15,101
Program service revenue
$26,331,195
Investment income
$188,416
Other revenue
$42,715
Total assets, end of year
$72,640,677
Total liabilities, end of year
$42,563,781
Net assets or fund balances, end of year
$30,076,896
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: ELECTRIC REVENUE

    total $26,000,394 · related or exempt $26,000,394

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $330,801 · related or exempt $330,801

  • 3 · Investment income

    total $156,651 · excluded $156,651

  • 6a · Gross rents

    real property $21,198

  • 6c · Rental income or loss

    real property $21,198

  • 6d · Net rental income or loss

    total $21,198 · excluded $21,198

  • 7a · Gross sales of assets other than inventory

    other assets $89,411

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

    other assets $57,646

  • 7c · Gain or loss

    other assets $31,765

  • 7d · Net gain or loss

    total $31,765 · excluded $31,765

  • 11a · Other revenue: RELATED REVENUE

    total $13,423 · related or exempt $13,423

  • 11b · Other revenue: NON OPERATING REVENUE

    total $8,094 · related or exempt $8,094

  • 11e · Other revenue, total

    $21,517

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,101

  • 4 · Benefits paid to or for members

    total $1,389,166

  • 5 · Compensation of officers, directors and key employees

    total $402,941

  • 7 · Other salaries and wages

    total $804,708

  • 20 · Interest

    total $1,211,407

  • 22 · Depreciation, depletion and amortization

    total $2,598,320

  • 24a · Other expenses: COST OF POWER

    total $14,230,214

  • 24b · Other expenses: DISTRIBUTION

    total $3,936,617

  • 24c · Other expenses: GENERAL & ADMINISTRATIVE

    total $1,052,070

  • 24d · Other expenses: TAXES

    total $688,667

  • 24e · All other expenses

    total $527,946

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,025,999 · end of year $2,496,632

  • 4 · Accounts receivable

    beginning of year $2,695,544 · end of year $2,238,735

  • 8 · Inventories for sale or use

    beginning of year $128,873 · end of year $133,945

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,604,769 · end of year $1,080,760

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

    $86,732,109

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

    $34,216,348

  • 10c · Land, buildings and equipment, net

    beginning of year $50,445,298 · end of year $52,515,761

  • 13 · Investments: program-related

    beginning of year $14,143,621 · end of year $14,174,844

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,544,281 · end of year $2,134,289

  • 19 · Deferred revenue

    beginning of year $1,050,000 · end of year $646,000

  • 23 · Secured mortgages and notes payable

    beginning of year $37,513,302 · end of year $38,417,235

  • 25 · Other liabilities

    beginning of year $760,101 · end of year $1,366,257

  • 29 · Capital stock, trust principal or current funds

    beginning of year $42,230 · end of year $42,335

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

    beginning of year $5,285,537 · end of year $5,355,793

  • 31 · Retained earnings, endowment or other funds

    beginning of year $23,848,653 · end of year $24,678,768

Mission and programs · 2023

Mission

TO MEET OUR MEMBERS' NEEDS AND EXPECTATIONS FOR RELIABLE ELECTRICITY, SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT REASONABLE PRICES.

  • TO PROVIDE ELECTRICITY TO OUR MEMBERS - 11,930 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.

As filed on the 2023 return.

Listed in Part VII

  • Mark Scheibe

    CEO

    Total calculated
    $325,204
    From this org
    $258,687
    From related orgs
    $0
    Other
    $66,517
    Hours/week
    65

    Schedule J breakdown matched by us

    Base
    $255,893
    Bonus
    not reported
    Other
    $2,794
    Deferred
    $41,611
    Nontaxable benefits
    $24,906
    Filer's total
    $325,204

  • Anthony Washington

    ELEC SYSTEM

    Total calculated
    $224,925
    From this org
    $129,988
    From related orgs
    $0
    Other
    $94,937
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $128,125
    Bonus
    not reported
    Other
    $1,863
    Deferred
    $68,497
    Nontaxable benefits
    $26,440
    Filer's total
    $224,925

  • Dan Avery

    DIR OF OPERA

    Total calculated
    $209,805
    From this org
    $141,642
    From related orgs
    $0
    Other
    $68,163
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $140,608
    Bonus
    not reported
    Other
    $1,034
    Deferred
    $42,144
    Nontaxable benefits
    $26,019
    Filer's total
    $209,805

  • Justin Weimer

    IT MANAGER

    Total calculated
    $163,255
    From this org
    $121,259
    From related orgs
    $0
    Other
    $41,996
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $121,003
    Bonus
    not reported
    Other
    $256
    Deferred
    $16,674
    Nontaxable benefits
    $25,322
    Filer's total
    $163,255

  • Larissa Bowman

    DIRECTOR OF

    Total calculated
    $144,105
    From this org
    $118,610
    From related orgs
    $0
    Other
    $25,495
    Hours/week
    60

  • Steve McFarland

    DIRECTOR

    Total calculated
    $14,711
    From this org
    $14,711
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ronald Taylor

    DIRECTOR

    Total calculated
    $11,250
    From this org
    $11,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Larry Lindberg

    DIRECTOR

    Total calculated
    $9,948
    From this org
    $9,948
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Lavonna Stainbrook

    DIRECTOR

    Total calculated
    $9,948
    From this org
    $9,948
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Hh Stockerbrand

    DIRECTOR

    Total calculated
    $9,514
    From this org
    $9,514
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ernie Troth

    DIRECTOR

    Total calculated
    $9,080
    From this org
    $9,080
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Tyler Jackman

    DIRECTOR

    Total calculated
    $6,910
    From this org
    $6,910
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dean Davied

    DIRECTOR

    Total calculated
    $6,376
    From this org
    $6,376
    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.

Related corporations and trusts

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

  • HEARTLAND ENERGY INC

    C CORP · LPG DISTR · KS · 100% owned · share of income $1,940,394 · share of assets $4,829,760

    Directly controlled by HEARTLAND

Provenance

Return type
form_990
Tax year
2023
Filed
26 September 2024
IRS schema version
2023v5.0
Source object
202442779349301214

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