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Nonprofiteer
← VERNON COMMUNICATIONS COOPERATIVE INC

Form 990 for tax year 2023

Filed by VERNON COMMUNICATIONS COOPERATIVE INC.

Totals

Total revenue
$19,299,347
Total expenses
$17,958,695
Contributions and grants received
$202,382
Grants paid
$0
Program service revenue
$18,477,039
Investment income
$154,880
Other revenue
$465,046
Total assets, end of year
$58,969,488
Total liabilities, end of year
$30,490,087
Net assets or fund balances, end of year
$28,479,401
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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)

    $202,382

  • 2a · Program service revenue: TELEPHONE SERVICES

    total $7,476,460 · related or exempt $7,476,460

  • 2b · Program service revenue: INTERNET REVENUE

    total $5,803,495 · related or exempt $5,803,495

  • 2c · Program service revenue: VIDEO REVENUE

    total $4,813,130 · related or exempt $4,813,130

  • 2d · Program service revenue: EQUIPMENT SALES AND SERVICES

    total $323,608 · related or exempt $323,608

  • 2e · Program service revenue: DIRECTORY REVENUE

    total $60,346 · related or exempt $22,932 · unrelated business $37,414

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $157,665 · excluded $157,665

  • 6a · Gross rents

    real property $59,170

  • 6c · Rental income or loss

    real property $59,170 · personal property $0

  • 6d · Net rental income or loss

    total $59,170 · related or exempt $59,170

  • 7a · Gross sales of assets other than inventory

    securities $105,082

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

    securities $89,518 · other assets $18,349

  • 7c · Gain or loss

    securities $15,564 · other assets -$18,349

  • 7d · Net gain or loss

    total -$2,785 · excluded -$2,785

  • 11a · Other revenue: TAXABLE INCOME FROM K-1S

    total $430,279 · unrelated business $430,279

  • 11b · Other revenue: OTHER REVENUE

    total -$24,403 · excluded -$24,403

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $405,876

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,879,173

  • 5 · Compensation of officers, directors and key employees

    total $421,596

  • 7 · Other salaries and wages

    total $2,376,140

  • 8 · Pension plan contributions

    total $97,723

  • 9 · Other employee benefits

    total $373,422

  • 10 · Payroll taxes

    total $200,418

  • 11b · Fees: legal

    total $17,155

  • 11c · Fees: accounting

    total $110,270

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $293,737

  • 20 · Interest

    total $1,004,556

  • 22 · Depreciation, depletion and amortization

    total $3,231,427

  • 24a · Other expenses: BROADBAND SERVICES

    total $4,670,163

  • 24b · Other expenses: PLANT SPECIFIC OPERATIONS

    total $941,189

  • 24c · Other expenses: COST OF LONG DISTANCE SERVICES

    total $938,513

  • 24d · Other expenses: CORPORATE OPERATIONS

    total $579,553

  • 24e · All other expenses

    total $823,660

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,672,102 · end of year $5,451,766

  • 2 · Savings and temporary cash investments

    beginning of year $726,832 · end of year $638,613

  • 4 · Accounts receivable

    beginning of year $2,164,857 · end of year $1,876,996

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $863,379 · end of year $2,814,724

  • 9 · Prepaid expenses and deferred charges

    beginning of year $738,949 · end of year $644,693

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

    $80,006,885

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

    $35,879,022

  • 10c · Land, buildings and equipment, net

    beginning of year $39,639,338 · end of year $44,127,863

  • 11 · Investments: publicly traded securities

    beginning of year $1,971,475 · end of year $2,467,870

  • 12 · Investments: other securities

    beginning of year $829,469 · end of year $946,963

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,229,728 · end of year $3,131,884

  • 19 · Deferred revenue

    beginning of year $5,397,678 · end of year $10,871,746

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $17,035,713 · end of year $15,749,997

  • 25 · Other liabilities

    beginning of year $712,377 · end of year $736,460

  • 29 · Capital stock, trust principal or current funds

    beginning of year $25,360 · end of year $25,360

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,205,544 · end of year $28,454,041

Mission and programs · 2023

Mission

TO OUR MEMBERS: CONSISTENT WITH OUR PROUD TRADITION, VERNON COMMUNICATIONS COOP'S MISSION IS TO PROVIDE ITS MEMBERS WITH THE LATEST TECHNOLOGY AVAILABLE, AT AN AFFORDABLE COST, (CONTINUED ON SCHEDULE O)

Activities or mission (Part I)

CONNECTING OUR MEMBERS WITH EXCEPTIONAL COMMUNICATION SOLUTIONS WITH EASE AND INTEGRITY.

  • TELEPHONE AND RELATED TELECOMMUNICATIONS SERVICES TO 5,009 ACCESS LINES.

  • BROADBAND INTERNET ACCESS TO 8,582 SUBSCRIBERS.

  • STREAMING AND IP TELEVISION SERVICES TO 3,323 SUBSCRIBERS.

As filed on the 2023 return.

Listed in Part VII

  • Bradley Gabrielson

    DIRECTOR

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

  • David Dregne

    DIRECTOR

    Total calculated
    $16,500
    From this org
    $16,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3

  • Trudy Wallin

    DIRECTOR

    Total calculated
    $18,300
    From this org
    $18,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Daniel Nelson

    DIRECTOR

    Total calculated
    $14,700
    From this org
    $14,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.8

  • Daren Matthes

    DIRECTOR

    Total calculated
    $8,300
    From this org
    $8,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • Marty Stenslien

    DIRECTOR

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Miles Bohland

    DIRECTOR

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.4

  • Steve Woodhouse

    DIRECTOR

    Total calculated
    $13,800
    From this org
    $13,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6

  • Terrance Jindrick

    DIRECTOR

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.6

  • Garin Mayer

    CEO

    Total calculated
    $310,996
    From this org
    $243,704
    From related orgs
    $0
    Other
    $67,292
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,704
    Bonus
    $0
    Other
    $0
    Deferred
    $33,030
    Nontaxable benefits
    $34,262
    Filer's total
    $310,996

  • Joshua Fanta

    OSP Engineer

    Total calculated
    $115,179
    From this org
    $100,446
    From related orgs
    $0
    Other
    $14,733
    Hours/week
    40

  • Matthew McGarry

    DIRECTOR OF OPERATIONS

    Total calculated
    $171,942
    From this org
    $137,925
    From related orgs
    $0
    Other
    $34,017
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,772
    Bonus
    $3,100
    Other
    $3,053
    Deferred
    $18,396
    Nontaxable benefits
    $15,621
    Filer's total
    $171,942

  • Scott Haakenson

    CONTROLLER

    Total calculated
    $162,119
    From this org
    $139,682
    From related orgs
    $0
    Other
    $22,437
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,845
    Bonus
    $3,100
    Other
    $3,737
    Deferred
    $18,588
    Nontaxable benefits
    $3,849
    Filer's total
    $162,119

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 committee
  • 3 · Written employment contract
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202413199349309616

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