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Nonprofiteer
← NORTHERN ELECTRIC COOPERATIVE INCORPORATED

Form 990 for tax year 2025

Filed by NORTHERN ELECTRIC COOPERATIVE INCORPORATED.

Totals

Total revenue
$33,611,616
Total expenses
$33,611,616
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$33,552,526
Investment income
$13,307
Other revenue
$45,783
Total assets, end of year
$123,815,291
Total liabilities, end of year
$85,760,767
Net assets or fund balances, end of year
$38,054,524
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 $31,616,815 · related or exempt $31,616,815

  • 2b · Program service revenue: CAPITAL CREDITS

    total $1,757,914 · related or exempt $1,757,914

  • 2c · Program service revenue: OTHER OPERATING

    total $177,625 · related or exempt $177,625

  • 2f · All other program service revenue

    total $172 · related or exempt $172

  • 3 · Investment income

    total $242,135 · excluded $242,135

  • 6a · Gross rents

    real property $360 · personal property $36,772

  • 6b · Less rental expenses

    real property $0 · personal property $15,941

  • 6c · Rental income or loss

    real property $360 · personal property $20,831

  • 6d · Net rental income or loss

    total $21,191 · related or exempt $20,831 · excluded $360

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

    other assets $228,828

  • 7c · Gain or loss

    other assets -$228,828

  • 7d · Net gain or loss

    total -$228,828 · excluded -$228,828

  • 10a · Gross sales of inventory

    $144,277

  • 10b · Cost of goods sold

    $119,685

  • 10c · Net income from sales of inventory

    total $24,592 · related or exempt $23,716 · unrelated business $876

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,973,356

  • 5 · Compensation of officers, directors and key employees

    total $530,396

  • 7 · Other salaries and wages

    total $2,990,900

  • 8 · Pension plan contributions

    total $784,541

  • 10 · Payroll taxes

    total $252,755

  • 20 · Interest

    total $2,615,931

  • 22 · Depreciation, depletion and amortization

    total $3,320,640

  • 24a · Other expenses: COST OF POWER

    total $19,899,747

  • 24b · Other expenses: ADMIN & GENERAL

    total $1,880,914

  • 24c · Other expenses: DISTRIBUTION-MAINTENANC

    total $1,647,411

  • 24d · Other expenses: DISTRIBUTION-OPERATIONS

    total $682,654

  • 24e · All other expenses

    total -$2,967,629

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $6,876,313 · end of year $5,107,894

  • 4 · Accounts receivable

    beginning of year $3,117,667 · end of year $4,212,525

  • 5 · Loans and receivables from officers and key people

    beginning of year $44

  • 8 · Inventories for sale or use

    beginning of year $3,378,221 · end of year $2,516,884

  • 9 · Prepaid expenses and deferred charges

    beginning of year $266,986 · end of year $217,809

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

    $114,580,376

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

    $28,000,594

  • 10c · Land, buildings and equipment, net

    beginning of year $79,371,312 · end of year $86,579,782

  • 12 · Investments: other securities

    beginning of year $551,704 · end of year $668,287

  • 13 · Investments: program-related

    beginning of year $23,612,176 · end of year $24,324,763

  • 15 · Other assets

    beginning of year $199,487 · end of year $187,347

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,279,684 · end of year $4,071,633

  • 19 · Deferred revenue

    beginning of year $1,932,052 · end of year $1,162,449

  • 23 · Secured mortgages and notes payable

    beginning of year $74,649,469 · end of year $80,276,012

  • 25 · Other liabilities

    beginning of year $207,116 · end of year $250,673

  • 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 $37,305,589 · end of year $38,054,524

Mission and programs · 2025

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 6,938 MEMBERS/METERS AND ADDED/REPLACED 75 MILES OF LINE AND RETIRED 70 MILES OF LINE.

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nolan Wipf

    PRESIDENT

    Total calculated
    $13,032
    From this org
    $13,000
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Josh Larson

    TREASURER

    Total calculated
    $8,782
    From this org
    $8,750
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Todd Hettich

    VICE PRESIDENT

    Total calculated
    $16,932
    From this org
    $16,900
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Kirk Schaunaman

    DIRECTOR

    Total calculated
    $5,332
    From this org
    $5,300
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Mike Traxinger

    DIRECTOR

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

  • William Hansen

    DIRECTOR

    Total calculated
    $8,882
    From this org
    $8,850
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Scott Sperry

    SECRETARY

    Total calculated
    $6,932
    From this org
    $6,900
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Thomas Lambert

    DIRECTOR

    Total calculated
    $6,332
    From this org
    $6,300
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Bruce Schumacher Jr

    DIRECTOR

    Total calculated
    $6,332
    From this org
    $6,300
    From related orgs
    $0
    Other
    $32
    Hours/week
    5

  • Charlene Hager

    CEO

    Total calculated
    $264,306
    From this org
    $177,681
    From related orgs
    $0
    Other
    $86,625
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,711
    Bonus
    $0
    Other
    $6,970
    Deferred
    $51,182
    Nontaxable benefits
    $43,242
    Filer's total
    $272,105

  • Lorisa Rudolph

    CFO

    Total calculated
    $151,554
    From this org
    $109,554
    From related orgs
    $0
    Other
    $42,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,028
    Bonus
    $0
    Other
    $526
    Deferred
    $11,987
    Nontaxable benefits
    $36,969
    Filer's total
    $158,510

  • Derek Gorecki

    IT MANAGER

    Total calculated
    $207,025
    From this org
    $136,235
    From related orgs
    $0
    Other
    $70,790
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,488
    Bonus
    $0
    Other
    $1,747
    Deferred
    $55,803
    Nontaxable benefits
    $19,680
    Filer's total
    $211,718

  • Russel Ulmer

    MEMBER SERVICES MANAGER

    Total calculated
    $189,232
    From this org
    $131,357
    From related orgs
    $0
    Other
    $57,875
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,706
    Bonus
    $0
    Other
    $1,651
    Deferred
    $43,920
    Nontaxable benefits
    $16,118
    Filer's total
    $191,395

  • Jerome Weber

    OPERATIONS MANAGER

    Total calculated
    $193,632
    From this org
    $131,025
    From related orgs
    $0
    Other
    $62,607
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,129
    Bonus
    $0
    Other
    $4,896
    Deferred
    $35,461
    Nontaxable benefits
    $34,280
    Filer's total
    $200,766

  • Brian Hansen

    LINE FOREMAN

    Total calculated
    $160,585
    From this org
    $112,118
    From related orgs
    $0
    Other
    $48,467
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,647
    Bonus
    $0
    Other
    $471
    Deferred
    $18,922
    Nontaxable benefits
    $36,232
    Filer's total
    $167,272

  • Nick Dean

    JOURNEYMAN LINEMAN

    Total calculated
    $136,749
    From this org
    $109,962
    From related orgs
    $0
    Other
    $26,787
    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 $41,888, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $42,170. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR DEREK GORECKI IS $48,999, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $30,873. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR RUSSEL ULMER IS $37,473, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $29,251. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR JEROME WEBER IS $28,796, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $21,981. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR BRIAN HANSEN IS $13,508, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $22,257. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR LORISA RUDOLPH IS $6,029, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $27,035.

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
2025
Filed
27 August 2026
IRS schema version
2025v4.2
Source object
202602399349301530

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