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Nonprofiteer
← NORTHERN ELECTRIC COOPERATIVE INCORPORATED

Form 990 for tax year 2023

Filed by NORTHERN ELECTRIC COOPERATIVE INCORPORATED.

Totals

Total revenue
$30,345,133
Total expenses
$30,345,133
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$30,083,922
Investment income
$220,657
Other revenue
$40,554
Total assets, end of year
$105,622,160
Total liabilities, end of year
$69,249,911
Net assets or fund balances, end of year
$36,372,249
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 POWER

    total $28,035,891 · related or exempt $28,035,891

  • 2b · Program service revenue: CAPITAL CREDITS

    total $1,841,099 · related or exempt $1,841,099

  • 2c · Program service revenue: OTHER OPERATING

    total $206,556 · related or exempt $206,556

  • 2f · All other program service revenue

    total $376 · related or exempt $376

  • 3 · Investment income

    total $213,582 · excluded $213,582

  • 6a · Gross rents

    real property $2,460 · personal property $41,208

  • 6b · Less rental expenses

    real property $0 · personal property $20,151

  • 6c · Rental income or loss

    real property $2,460 · personal property $21,057

  • 6d · Net rental income or loss

    total $23,517 · related or exempt $21,057 · excluded $2,460

  • 7a · Gross sales of assets other than inventory

    other assets $7,075

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

    other assets $0

  • 7c · Gain or loss

    other assets $7,075

  • 7d · Net gain or loss

    total $7,075 · excluded $7,075

  • 10a · Gross sales of inventory

    $115,441

  • 10b · Cost of goods sold

    $98,404

  • 10c · Net income from sales of inventory

    total $17,037 · related or exempt $16,700 · unrelated business $337

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,351,957

  • 5 · Compensation of officers, directors and key employees

    total $438,638

  • 7 · Other salaries and wages

    total $2,826,381

  • 8 · Pension plan contributions

    total $739,856

  • 10 · Payroll taxes

    total $236,931

  • 20 · Interest

    total $1,943,174

  • 22 · Depreciation, depletion and amortization

    total $2,869,938

  • 24a · Other expenses: COST OF POWER

    total $17,891,677

  • 24b · Other expenses: ADMIN & GENERAL

    total $1,702,482

  • 24c · Other expenses: DISTRIBUTION-MAINTENANC

    total $1,563,665

  • 24d · Other expenses: DISTRIBUTION-OPERATIONS

    total $373,216

  • 24e · All other expenses

    total -$2,592,782

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $7,103,425 · end of year $3,602,434

  • 4 · Accounts receivable

    beginning of year $3,141,996 · end of year $3,033,074

  • 5 · Loans and receivables from officers and key people

    beginning of year $464 · end of year $77

  • 8 · Inventories for sale or use

    beginning of year $2,971,810 · end of year $2,869,809

  • 9 · Prepaid expenses and deferred charges

    beginning of year $142,924 · end of year $300,092

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

    $98,675,432

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

    $26,475,171

  • 10c · Land, buildings and equipment, net

    beginning of year $67,075,293 · end of year $72,200,261

  • 12 · Investments: other securities

    beginning of year $486,902 · end of year $510,800

  • 13 · Investments: program-related

    beginning of year $21,788,366 · end of year $22,893,973

  • 15 · Other assets

    beginning of year $223,785 · end of year $211,640

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,331,627 · end of year $3,058,678

  • 19 · Deferred revenue

    beginning of year $1,607,983 · end of year $1,575,858

  • 23 · Secured mortgages and notes payable

    beginning of year $62,695,498 · end of year $64,435,780

  • 25 · Other liabilities

    beginning of year $161,822 · end of year $179,595

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $35,138,035 · end of year $36,372,249

Mission and programs · 2023

Mission

THE PURPOSE OF THE ORGANIZATION OF NORTHERN ELECTRIC COOPERATIVE INCORPORATED IS TO PROVIDE ITS MEMBERS WITH A DEPENDABLE QUALITY AND QUANTITY OF ELECTRICAL ENERGY AT THE LOWEST POSSIBLE RATES CONSISTENT WITH SOUND BUSINESS PRACTICES AND FINANCIAL FEASIBILITY AND TO PROVIDE SUCH OTHER SERVICES THAT WOULD BE DESIRABLE FOR THE BETTERMENT OF ITS MEMBERS.

Activities or mission (Part I)

PROVIDE ELECTRICITY TO RURAL AREAS.

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 6,717 MEMBERS, SERVED 2,505 MILES OF LINES, ADDED/REPLACED 69 MILES OF LINES, AND RETIRED 78 MILES OF LINES.

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

Listed in Part VII

  • Nolan Wipf

    PRESIDENT

    Total calculated
    $4,932
    From this org
    $4,900
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Ronald Kaaz

    SECRETARY

    Total calculated
    $3,532
    From this org
    $3,500
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Josh Larson

    TREASURER

    Total calculated
    $3,232
    From this org
    $3,200
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Fran Esser

    DIRECTOR

    Total calculated
    $4,232
    From this org
    $4,200
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Todd Hettich

    VICE PRESIDENT

    Total calculated
    $5,232
    From this org
    $5,200
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Kirk Schaunaman

    DIRECTOR

    Total calculated
    $3,832
    From this org
    $3,800
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Mike Traxinger

    DIRECTOR

    Total calculated
    $2,832
    From this org
    $2,800
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • William Hansen

    DIRECTOR

    Total calculated
    $3,732
    From this org
    $3,700
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Scott Sperry

    DIRECTOR

    Total calculated
    $3,932
    From this org
    $3,900
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Charlene Hager

    CEO

    Total calculated
    $276,128
    From this org
    $166,266
    From related orgs
    $0
    Other
    $109,862
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,781
    Bonus
    $0
    Other
    $6,485
    Deferred
    $76,841
    Nontaxable benefits
    $40,899
    Filer's total
    $284,006

  • Lorisa Rudolph

    CFO

    Total calculated
    $121,010
    From this org
    $83,792
    From related orgs
    $0
    Other
    $37,218
    Hours/week
    40

  • Derek Gorecki

    IT MANAGER

    Total calculated
    $185,423
    From this org
    $127,466
    From related orgs
    $0
    Other
    $57,957
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,844
    Bonus
    $0
    Other
    $1,622
    Deferred
    $43,717
    Nontaxable benefits
    $18,997
    Filer's total
    $190,180

  • Russel Ulmer

    MEMBER SERVICES MANAGER

    Total calculated
    $172,747
    From this org
    $122,572
    From related orgs
    $0
    Other
    $50,175
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,047
    Bonus
    $0
    Other
    $1,525
    Deferred
    $36,413
    Nontaxable benefits
    $15,982
    Filer's total
    $174,967

  • Jerome Weber

    OPERATIONS MANAGER

    Total calculated
    $182,225
    From this org
    $122,005
    From related orgs
    $0
    Other
    $60,220
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,466
    Bonus
    $0
    Other
    $4,539
    Deferred
    $34,234
    Nontaxable benefits
    $33,181
    Filer's total
    $189,420

  • Martin Newman

    LINE FOREMAN

    Total calculated
    $138,691
    From this org
    $111,517
    From related orgs
    $0
    Other
    $27,174
    Hours/week
    40

  • Steven Beck

    JOURNEYMAN LINEMAN

    Total calculated
    $133,155
    From this org
    $103,003
    From related orgs
    $0
    Other
    $30,152
    Hours/week
    40

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

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C
AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR CHARLENE HAGER IS $68,170, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $41,370. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR DEREK GORECKI IS $37,369, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $30,286. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR RUSSEL ULMER IS $30,399, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $28,695. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR JEROME WEBER IS $28,015, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $20,309.

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.

  • NORTHERN WIRELESS COMMUNICATIONS INC

    C · INACTIVE · SD · 100% owned · controlled entity

    Directly controlled by NORTHERN ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2023
Filed
19 July 2024
IRS schema version
2023v5.1
Source object
202422069349300647

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