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Nonprofiteer
← RUNESTONE TELEPHONE ASSOCIATION

Form 990 for tax year 2022

Filed by RUNESTONE TELEPHONE ASSOCIATION.

Totals

Total revenue
$11,787,535
Total expenses
$8,299,942
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$11,594,246
Investment income
$49,599
Other revenue
$143,690
Total assets, end of year
$33,594,503
Total liabilities, end of year
$1,487,918
Net assets or fund balances, end of year
$32,106,585
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: TELEPHONE SERVICES

    total $11,466,347 · related or exempt $11,466,347

  • 2b · Program service revenue: PARTNERSHIP INCOME

    total $93,654 · related or exempt $93,654

  • 2c · Program service revenue: ADVERTISING INCOME

    total $34,245 · related or exempt $30,960 · unrelated business $3,285

  • 3 · Investment income

    total $49,599 · excluded $49,599

  • 6a · Gross rents

    real property $79,757

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $79,757

  • 6d · Net rental income or loss

    total $79,757 · related or exempt $37,037 · unrelated business $42,720

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $63,933 · related or exempt $63,933

  • 11e · Other revenue, total

    $63,933

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,534,303

  • 5 · Compensation of officers, directors and key employees

    total $356,817

  • 8 · Pension plan contributions

    total $298,802

  • 11b · Fees: legal

    total $3,870

  • 11c · Fees: accounting

    total $199,193

  • 12 · Advertising and promotion

    total $25,290

  • 22 · Depreciation, depletion and amortization

    total $1,907,106

  • 24a · Other expenses: CORPORATE TAXES

    total $5,343

  • 24b · Other expenses: PLANT SPECIFIC

    total $1,197,065

  • 24c · Other expenses: CATV EXPENSE

    total $793,357

  • 24d · Other expenses: INTERNET EXPENSE

    total $755,249

  • 24e · All other expenses

    total $1,223,547

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $900,712 · end of year $837,412

  • 2 · Savings and temporary cash investments

    beginning of year $7,402,295 · end of year $6,163,088

  • 4 · Accounts receivable

    beginning of year $1,622,149 · end of year $726,897

  • 7 · Other notes and loans receivable

    beginning of year $241,699 · end of year $257,725

  • 9 · Prepaid expenses and deferred charges

    beginning of year $121,702 · end of year $108,977

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

    $42,925,245

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

    $25,776,646

  • 10c · Land, buildings and equipment, net

    beginning of year $14,637,695 · end of year $17,148,599

  • 12 · Investments: other securities

    beginning of year $1,001,621 · end of year $944,911

  • 14 · Intangible assets

    beginning of year $148,604 · end of year $99,071

  • 15 · Other assets

    beginning of year $6,138,424 · end of year $7,307,823

  • 17 · Accounts payable and accrued expenses

    beginning of year $587,850 · end of year $659,856

  • 25 · Other liabilities

    beginning of year $812,509 · end of year $828,062

  • 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 $17,476,335 · end of year $15,434,027

  • 31 · Retained earnings, endowment or other funds

    beginning of year $13,338,207 · end of year $16,672,558

Mission and programs · 2022

Mission

PROVIDE RELIABLE TELECOMMUNICATION SERVICES TO COOPERATIVE MEMBERS AT REASONABLE RATES, WHILE RESPECTING EMPLOYEES AND CUSTOMERS.

Activities or mission (Part I)

PROVIDE RELIABLE TELECOMMUNICATION SERVICES TO COOPERATIVE MEMBERS

  • PROVISION OF TELEPHONE, INTERNET AND CABLE TELEVISION SERVICES TO COOPERATIVE MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • Robert Leegaard

    PRESIDENT

    Total calculated
    $12,480
    From this org
    $12,480
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Tory Belgum

    VICE PRESIDENT

    Total calculated
    $11,880
    From this org
    $11,880
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Kapphahn

    SECRETARY/TREASURER

    Total calculated
    $12,180
    From this org
    $12,180
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Richard Staples

    DIRECTOR

    Total calculated
    $11,880
    From this org
    $11,880
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jolene Vipond

    DIRECTOR

    Total calculated
    $11,980
    From this org
    $11,980
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kent Hedstrom

    GENERAL MANAGER/CEO

    Total calculated
    $296,417
    From this org
    $213,495
    From related orgs
    $0
    Other
    $82,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,495
    Bonus
    $0
    Other
    $0
    Deferred
    $52,118
    Nontaxable benefits
    $30,804
    Filer's total
    $296,417

  • Ryan Schonhardt

    OFFICE MANAGER/CFO

    Total calculated
    $159,852
    From this org
    $109,884
    From related orgs
    $0
    Other
    $49,968
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,884
    Bonus
    $0
    Other
    $0
    Deferred
    $26,670
    Nontaxable benefits
    $23,298
    Filer's total
    $159,852

  • Russ Froemming

    NETWORK TECHNICIAN

    Total calculated
    $166,268
    From this org
    $109,167
    From related orgs
    $0
    Other
    $57,101
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,167
    Bonus
    $0
    Other
    $0
    Deferred
    $26,264
    Nontaxable benefits
    $30,837
    Filer's total
    $166,268

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 · 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
2022
Filed
22 May 2023
IRS schema version
2022v5.0
Source object
202331729349300113

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