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Nonprofiteer
← CHERRYLAND ELECTRIC CO OP

Form 990 for tax year 2024

Filed by CHERRYLAND ELECTRIC CO OP.

Totals

Total revenue
$66,342,508
Total expenses
$60,530,255
Contributions and grants received
$350,000
Grants paid
$0
Program service revenue
$62,169,565
Investment income
$3,374,777
Other revenue
$448,166
Total assets, end of year
$155,240,104
Total liabilities, end of year
$92,020,455
Net assets or fund balances, end of year
$63,219,649
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.

  • 1e · Government grants (contributions)

    $350,000

  • 2a · Program service revenue: MEMBER ELECTRIC REVENUE

    total $61,841,525 · related or exempt $61,841,525

  • 2b · Program service revenue: SERVICE CHARGES

    total $150,010 · related or exempt $150,010

  • 2c · Program service revenue: STREET LIGHTS

    total $98,144 · related or exempt $98,144

  • 2d · Program service revenue: POLE CONTACT FEES

    total $79,886 · excluded $79,886

  • 3 · Investment income

    total $3,374,777 · related or exempt $3,343,636 · unrelated business $150 · excluded $30,991

  • 11a · Other revenue: MISCELLANEOUS

    total $448,166 · related or exempt $448,166

  • 11e · Other revenue, total

    $448,166

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $574,973

  • 5 · Compensation of officers, directors and key employees

    total $875,869

  • 7 · Other salaries and wages

    total $855,858

  • 11a · Fees: management

    total $11,650

  • 11b · Fees: legal

    total $69,637

  • 11c · Fees: accounting

    total $37,410

  • 12 · Advertising and promotion

    total $26,965

  • 13 · Office expenses

    total $170,472

  • 14 · Information technology

    total $589,783

  • 16 · Occupancy

    total $146,575

  • 19 · Conferences, conventions and meetings

    total $65,711

  • 20 · Interest

    total $3,779,933

  • 22 · Depreciation, depletion and amortization

    total $4,906,495

  • 23 · Insurance

    total $120,184

  • 24a · Other expenses: COST OF POWER

    total $36,363,189

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $4,390,692

  • 24c · Other expenses: MEMBER SERVICE

    total $3,031,215

  • 24d · Other expenses: OPERATIONS

    total $2,193,021

  • 24e · All other expenses

    total $2,320,623

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $411,874 · end of year $301,155

  • 2 · Savings and temporary cash investments

    beginning of year $393,923 · end of year $353,426

  • 4 · Accounts receivable

    beginning of year $7,476,010 · end of year $8,318,419

  • 7 · Other notes and loans receivable

    beginning of year $2,112,725 · end of year $2,301,523

  • 8 · Inventories for sale or use

    beginning of year $1,476,908 · end of year $1,123,527

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,560,140 · end of year $3,297,907

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

    $151,513,731

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

    $53,341,315

  • 10c · Land, buildings and equipment, net

    beginning of year $91,892,499 · end of year $98,172,416

  • 12 · Investments: other securities

    beginning of year $37,925,895 · end of year $40,944,016

  • 15 · Other assets

    beginning of year $155,692 · end of year $427,715

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,520,354 · end of year $4,845,969

  • 23 · Secured mortgages and notes payable

    beginning of year $74,241,656 · end of year $79,054,173

  • 24 · Unsecured notes and loans payable

    beginning of year $5,041,550 · end of year $3,869,243

  • 25 · Other liabilities

    beginning of year $3,286,969 · end of year $4,251,070

  • 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 -$1,754,161 · end of year -$1,535,556

  • 31 · Retained earnings, endowment or other funds

    beginning of year $59,069,298 · end of year $64,755,205

Mission and programs · 2024

Mission

ELECTRIC COOPERATIVE

  • PROVIDE ELECTRIC SERVICES TO OVER 38,000 MEMBERS.

    Revenue $65,881,481

As filed on the 2024 return.

Listed in Part VII

  • Melinda Lautner

    SECRETARY

    Total calculated
    $19,110
    From this org
    $17,600
    From related orgs
    $0
    Other
    $1,510
    Hours/week
    6

  • Terry Lautner

    DIRECTOR

    Total calculated
    $17,110
    From this org
    $17,100
    From related orgs
    $0
    Other
    $10
    Hours/week
    7

  • Dean Adams

    DIRECTOR

    Total calculated
    $19,310
    From this org
    $19,300
    From related orgs
    $0
    Other
    $10
    Hours/week
    6

  • Thomas Van Pelt

    TREASURER

    Total calculated
    $20,110
    From this org
    $20,100
    From related orgs
    $0
    Other
    $10
    Hours/week
    6

  • David Schweitzer

    DIRECTOR

    Total calculated
    $19,960
    From this org
    $19,950
    From related orgs
    $0
    Other
    $10
    Hours/week
    6

  • Gabriel Ts Schneider

    PRESIDENT

    Total calculated
    $19,160
    From this org
    $17,050
    From related orgs
    $0
    Other
    $2,110
    Hours/week
    10

  • Valarie Handy

    SENIOR VICE PRESIDENT

    Total calculated
    $19,610
    From this org
    $19,600
    From related orgs
    $0
    Other
    $10
    Hours/week
    5

  • Anthony Anderson

    FORMER GENERAL MANAGER

    Total calculated
    $167,375
    From this org
    $156,240
    From related orgs
    $0
    Other
    $11,135
    Hours/week
    30

    Schedule J breakdown matched by us

    Base
    $156,240
    Bonus
    $0
    Other
    $0
    Deferred
    $3,963
    Nontaxable benefits
    $7,172
    Filer's total
    $167,375

  • Mark Wilson

    CFO

    Total calculated
    $254,772
    From this org
    $184,320
    From related orgs
    $0
    Other
    $70,452
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $184,320
    Bonus
    $0
    Other
    $0
    Deferred
    $52,975
    Nontaxable benefits
    $17,477
    Filer's total
    $254,772

  • Frank Siepker

    COO

    Total calculated
    $289,360
    From this org
    $208,079
    From related orgs
    $0
    Other
    $81,281
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $208,079
    Bonus
    $0
    Other
    $0
    Deferred
    $60,097
    Nontaxable benefits
    $21,184
    Filer's total
    $289,360

  • Rachel Johnson

    CEO

    Total calculated
    $319,352
    From this org
    $250,285
    From related orgs
    $0
    Other
    $69,067
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $250,285
    Bonus
    $0
    Other
    $0
    Deferred
    $50,660
    Nontaxable benefits
    $18,407
    Filer's total
    $319,352

  • David Bott

    CREW FOREMAN

    Total calculated
    $211,508
    From this org
    $172,739
    From related orgs
    $0
    Other
    $38,769
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,739
    Bonus
    $0
    Other
    $0
    Deferred
    $21,393
    Nontaxable benefits
    $17,376
    Filer's total
    $211,508

  • Bruce Stocking

    CREW FOREMAN

    Total calculated
    $212,745
    From this org
    $148,002
    From related orgs
    $0
    Other
    $64,743
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $148,002
    Bonus
    $0
    Other
    $0
    Deferred
    $50,489
    Nontaxable benefits
    $14,254
    Filer's total
    $212,745

  • Dustin Ockert

    LINEMAN

    Total calculated
    $202,506
    From this org
    $156,169
    From related orgs
    $0
    Other
    $46,337
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,169
    Bonus
    $0
    Other
    $0
    Deferred
    $29,139
    Nontaxable benefits
    $17,198
    Filer's total
    $202,506

  • Brandon Hartley

    CREW FOREMAN

    Total calculated
    $197,851
    From this org
    $160,588
    From related orgs
    $0
    Other
    $37,263
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,588
    Bonus
    $0
    Other
    $0
    Deferred
    $19,993
    Nontaxable benefits
    $17,270
    Filer's total
    $197,851

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C
A PORTION OF THE RETIREMENT AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN C, REPRESENT THE ACTUARIAL CHANGE IN THE ORGANIZATION'S QUALIFIED DEFINED BENEFIT PLAN (RETIREMENT SECURITY PLAN) WHICH WAS NOT FUNDED AS OF 12/31/24. OF THESE AMOUNTS, BELOW IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE RETIREMENT SECURITY PLAN PER INDIVIDUAL: MARK WILSON - $44,031 FRANK SIEPKER - $50,073 RACHEL JOHNSON - $38,762 DAVID BOTT - $15,379 BRUCE STOCKING - $44,174 DUSTIN OCKERT - $23,333 BRANDON HARTLEY - $13,979

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
29 October 2025
IRS schema version
2024v5.2
Source object
202523039349300017

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