Skip to content
Nonprofiteer
← KANKAKEE VALLEY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by KANKAKEE VALLEY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$43,530,628
Total expenses
$40,803,340
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$42,174,726
Investment income
$287,087
Other revenue
$1,068,815
Total assets, end of year
$103,833,079
Total liabilities, end of year
$48,092,088
Net assets or fund balances, end of year
$55,740,991
Program services expenses (Part IX)
$40,803,340
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$40,803,340

Program services were 100.0% 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 SALES

    total $41,674,726 · related or exempt $41,674,726

  • 2b · Program service revenue: EQUITY IN EARNINGS OF SUBSIDIARY

    total $500,000 · unrelated business $500,000

  • 3 · Investment income

    total $270,526 · excluded $270,526

  • 6a · Gross rents

    real property $24,982

  • 6b · Less rental expenses

    real property $16,961

  • 6c · Rental income or loss

    real property $8,021

  • 6d · Net rental income or loss

    total $8,021 · related or exempt $8,021

  • 7a · Gross sales of assets other than inventory

    other assets $16,561

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

    other assets $0

  • 7c · Gain or loss

    other assets $16,561

  • 7d · Net gain or loss

    total $16,561 · excluded $16,561

  • 11a · Other revenue: PATRONAGE REVENUE

    total $799,922 · excluded $799,922

  • 11b · Other revenue: MISC NONOPERATING INCOME

    total $204,724 · excluded $204,724

  • 11c · Other revenue: STORM ASSISTANCE

    total $56,148 · related or exempt $56,148

  • 11e · Other revenue, total

    $1,060,794

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $1,521,944 · program services $1,521,944

  • 22 · Depreciation, depletion and amortization

    total $2,925,875 · program services $2,925,875

  • 24a · Other expenses: PURCHASED POWER

    total $26,644,738 · program services $26,644,738

  • 24b · Other expenses: OPERATIONS & MAINTENANC

    total $5,196,214 · program services $5,196,214

  • 24c · Other expenses: GENERAL & ADMINISTRATIV

    total $3,286,380 · program services $3,286,380

  • 24d · Other expenses: CONSUMER SERVICE

    total $1,173,663 · program services $1,173,663

  • 24e · All other expenses

    total $54,526 · program services $54,526

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,739,331 · end of year $1,582,235

  • 2 · Savings and temporary cash investments

    beginning of year $1,562,441 · end of year $886,994

  • 4 · Accounts receivable

    beginning of year $3,337,156 · end of year $3,179,248

  • 8 · Inventories for sale or use

    beginning of year $1,083,250 · end of year $1,451,821

  • 9 · Prepaid expenses and deferred charges

    beginning of year $124,151 · end of year $79,443

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

    $114,898,596

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

    $33,316,086

  • 10c · Land, buildings and equipment, net

    beginning of year $68,669,950 · end of year $81,582,510

  • 12 · Investments: other securities

    beginning of year $13,481,624 · end of year $14,073,616

  • 15 · Other assets

    beginning of year $937,261 · end of year $997,212

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,734,047 · end of year $3,769,234

  • 23 · Secured mortgages and notes payable

    beginning of year $33,206,165 · end of year $43,185,925

  • 25 · Other liabilities

    beginning of year $1,232,043 · end of year $1,136,929

  • 29 · Capital stock, trust principal or current funds

    beginning of year $644,205 · end of year $644,205

  • 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 $54,118,704 · end of year $55,096,786

Mission and programs · 2023

Mission

DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS.

Activities or mission (Part I)

KANKAKEE VALLEY REMC IS A RURAL ELECTRIC UTILITY SERVING MEMBERS IN PARTS OF SEVEN COUNTIES.

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS.

    Expenses $40,803,340 · Revenue $41,674,726

As filed on the 2023 return.

Listed in Part VII

  • Christian Birky

    DIRECTOR

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.87

  • David Janney

    VICE-PRESIDENT

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.93

  • Dean Moretton

    DIRECTOR

    Total calculated
    $15,300
    From this org
    $15,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.76

  • Michael Yankauskas

    PRESIDENT

    Total calculated
    $14,700
    From this org
    $14,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.42

  • Russell Guse

    DIRECTOR

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.77

  • William Bohling

    SECRETARY

    Total calculated
    $11,400
    From this org
    $11,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.35

  • Katrina Harper

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.82

  • Scott Sears

    CEO

    Total calculated
    $339,795
    From this org
    $205,888
    From related orgs
    $0
    Other
    $133,907
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,888
    Bonus
    $0
    Other
    $0
    Deferred
    $108,755
    Nontaxable benefits
    $25,152
    Filer's total
    $339,795

  • Scott Hanson

    DIRECTOR OF OPERATIONS

    Total calculated
    $190,100
    From this org
    $150,891
    From related orgs
    $0
    Other
    $39,209
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,891
    Bonus
    $0
    Other
    $0
    Deferred
    $14,124
    Nontaxable benefits
    $25,085
    Filer's total
    $190,100

  • Brittany Travis

    DIRECTOR OF ENGINEERING

    Total calculated
    $148,059
    From this org
    $141,338
    From related orgs
    $0
    Other
    $6,721
    Hours/week
    40

  • Jason Hughes

    JOURNEYMAN LINEMAN

    Total calculated
    $161,226
    From this org
    $125,508
    From related orgs
    $0
    Other
    $35,718
    Hours/week
    46.35

    Schedule J breakdown matched by us

    Base
    $125,508
    Bonus
    $0
    Other
    $0
    Deferred
    $10,140
    Nontaxable benefits
    $25,578
    Filer's total
    $161,226

  • Jesse Webb

    LINE SUPERINTENDENT

    Total calculated
    $156,699
    From this org
    $122,158
    From related orgs
    $0
    Other
    $34,541
    Hours/week
    44.08

    Schedule J breakdown matched by us

    Base
    $122,158
    Bonus
    $0
    Other
    $0
    Deferred
    $8,958
    Nontaxable benefits
    $25,583
    Filer's total
    $156,699

  • Scott Sikora

    JOURNEYMAN LINEMAN

    Total calculated
    $166,688
    From this org
    $119,519
    From related orgs
    $0
    Other
    $47,169
    Hours/week
    45.2

    Schedule J breakdown matched by us

    Base
    $119,519
    Bonus
    $0
    Other
    $0
    Deferred
    $21,654
    Nontaxable benefits
    $25,515
    Filer's total
    $166,688

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
  • 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)

PART I, LINE 3
THE CEO'S COMPENSATION IS BASED ON AN ANNUAL REVIEW BY THE BOARD OF DIRECTORS. THE BOARD TAKES INTO CONSIDERATION THE INFORMATION RECEIVED FROM A STATE AND NATIONAL COMPENSATION SURVEY. THEY COMBINE ALL THE ABOVE INFORMATION AND REVIEW THE GOALS SET FORTH FOR THE YEAR TO DETERMINE THE CEO'S COMPENSATION FOR THE YEAR.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • KV SERVICES LLC

    SERVICES · IN

    Directly controlled by KANKAKEE VALLEY REMC

Provenance

Return type
form_990
Tax year
2023
Filed
7 August 2024
IRS schema version
2023v5.1
Source object
202402289349300905

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.