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Nonprofiteer
← GOODHUE COUNTY COOPERATIVE ELECTRIC ASSOCIATION

Form 990 for tax year 2022

Filed by GOODHUE COUNTY COOPERATIVE ELECTRIC ASSOCIATION.

Totals

Total revenue
$13,694,063
Total expenses
$13,651,337
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,653,166
Investment income
$40,897
Other revenue
$0
Total assets, end of year
$41,973,914
Total liabilities, end of year
$28,250,676
Net assets or fund balances, end of year
$13,723,238
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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

    total $13,279,269 · related or exempt $13,279,269

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $177,007 · related or exempt $177,007

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $90,147 · related or exempt $90,147

  • 2d · Program service revenue: COMMISSION REVENUES

    total $62,764 · unrelated business $62,764

  • 2e · Program service revenue: OTHER

    total $42,910 · related or exempt $42,910

  • 2f · All other program service revenue

    total $1,069 · excluded $1,069

  • 3 · Investment income

    total $26,023 · excluded $26,023

  • 7a · Gross sales of assets other than inventory

    other assets $14,874

  • 7c · Gain or loss

    other assets $14,874

  • 7d · Net gain or loss

    total $14,874 · related or exempt $14,874

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $487,207

  • 5 · Compensation of officers, directors and key employees

    total $253,186

  • 20 · Interest

    total $739,305

  • 22 · Depreciation, depletion and amortization

    total $1,424,805

  • 24a · Other expenses: COST OF POWER

    total $8,248,772

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $913,911

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $833,863

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $643,480

  • 24e · All other expenses

    total $106,808

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,611,063 · end of year $961,988

  • 4 · Accounts receivable

    beginning of year $1,477,252 · end of year $2,184,142

  • 8 · Inventories for sale or use

    beginning of year $296,042 · end of year $402,307

  • 9 · Prepaid expenses and deferred charges

    beginning of year $815,326 · end of year $809,607

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

    $45,460,998

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

    $15,189,309

  • 10c · Land, buildings and equipment, net

    beginning of year $28,733,936 · end of year $30,271,689

  • 13 · Investments: program-related

    beginning of year $7,211,535 · end of year $7,206,002

  • 15 · Other assets

    beginning of year $148,757 · end of year $138,179

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,359,102 · end of year $2,779,519

  • 23 · Secured mortgages and notes payable

    beginning of year $26,209,968 · end of year $25,114,901

  • 25 · Other liabilities

    beginning of year $154,071 · end of year $356,256

  • 31 · Retained earnings, endowment or other funds

    beginning of year $13,570,770 · end of year $13,723,238

Mission and programs · 2022

Mission

TO BE THE PROVIDER OF CHOICE FOR RELIABLE, COMPETITIVELY PRICED ENERGY AND OTHER SERVICES THAT BENEFIT THE COOPERATIVE MEMBERS.

  • RURAL ELECTRIC COOPERATIVE PROVIDED ELECTRICAL POWER TO 5,246 RURAL MEMBERS DURING THE YEAR.

As filed on the 2022 return.

Listed in Part VII

  • Timothy Krohn

    LINE SUPERIN

    Total calculated
    $196,053
    From this org
    $107,927
    From related orgs
    $0
    Other
    $88,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,927
    Bonus
    not reported
    Other
    not reported
    Deferred
    $56,657
    Nontaxable benefits
    $32,532
    Filer's total
    $196,053

  • Kelly Hovel

    GENERAL MANA

    Total calculated
    $193,004
    From this org
    $130,571
    From related orgs
    $0
    Other
    $62,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,571
    Bonus
    not reported
    Other
    not reported
    Deferred
    $47,469
    Nontaxable benefits
    $15,560
    Filer's total
    $193,004

  • Christopher Olson

    FOREMAN

    Total calculated
    $177,407
    From this org
    $111,334
    From related orgs
    $0
    Other
    $66,073
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,334
    Bonus
    not reported
    Other
    not reported
    Deferred
    $37,644
    Nontaxable benefits
    $28,871
    Filer's total
    $177,407

  • James Moen

    LINEMAN

    Total calculated
    $158,913
    From this org
    $104,083
    From related orgs
    $0
    Other
    $54,830
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $104,083
    Bonus
    not reported
    Other
    not reported
    Deferred
    $38,931
    Nontaxable benefits
    $17,008
    Filer's total
    $158,913

  • Allen Jantzen

    FOREMAN

    Total calculated
    $152,906
    From this org
    $110,776
    From related orgs
    $0
    Other
    $42,130
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,776
    Bonus
    not reported
    Other
    not reported
    Deferred
    $29,146
    Nontaxable benefits
    $13,117
    Filer's total
    $152,906

  • Austin Kirchner

    LINEMAN

    Total calculated
    $142,245
    From this org
    $103,165
    From related orgs
    $0
    Other
    $39,080
    Hours/week
    40

  • Amber Gesme

    FINANCE MANA

    Total calculated
    $128,552
    From this org
    $84,415
    From related orgs
    $0
    Other
    $44,137
    Hours/week
    40

  • Gary Esterby

    VICE PRESIDE

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

  • Edward Bauman

    DIRECTOR

    Total calculated
    $4,600
    From this org
    $4,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Donnell Buck

    DIRECTOR

    Total calculated
    $4,600
    From this org
    $4,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Rick Banks

    DIRECTOR

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jim Dicke

    TREASURER

    Total calculated
    $4,100
    From this org
    $4,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Hernke

    PRESIDENT

    Total calculated
    $4,100
    From this org
    $4,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Paul Huneke

    SECRETARY

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

  • Gene Bang

    DIRECTOR

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

  • Darla Vieths

    DIRECTOR

    Total calculated
    $2,400
    From this org
    $2,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Cheryl Kyllo

    DIRECTOR

    Total calculated
    $1,600
    From this org
    $1,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 · 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
2022
Filed
27 April 2023
IRS schema version
2022v5.0
Source object
202321239349302667

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