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Nonprofiteer
← MCDONOUGH POWER COOPERATIVE INC

Form 990 for tax year 2024

Filed by MCDONOUGH POWER COOPERATIVE INC.

Totals

Total revenue
$12,887,511
Total expenses
$12,887,511
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,824,298
Investment income
$20,406
Other revenue
$42,807
Total assets, end of year
$38,491,607
Total liabilities, end of year
$21,843,398
Net assets or fund balances, end of year
$16,648,209
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: Sale of Electricity

    total $12,192,286 · related or exempt $12,192,286

  • 2b · Program service revenue: Capital Credits

    total $572,710 · related or exempt $572,710

  • 2c · Program service revenue: Miscellaneous Electric

    total $59,302 · related or exempt $59,302

  • 3 · Investment income

    total $20,406 · excluded $20,406

  • 6a · Gross rents

    personal property $9,504

  • 6c · Rental income or loss

    personal property $9,504

  • 6d · Net rental income or loss

    total $9,504 · excluded $9,504

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Other Non-Operating

    total $33,303 · related or exempt $33,303

  • 11e · Other revenue, total

    $33,303

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $794,959

  • 5 · Compensation of officers, directors and key employees

    total $529,026

  • 7 · Other salaries and wages

    total $818,736

  • 20 · Interest

    total $928,277

  • 22 · Depreciation, depletion and amortization

    total $1,318,085

  • 24a · Other expenses: Cost of Power

    total $6,621,210 · program services $6,621,210

  • 24b · Other expenses: Distribution Expense

    total $912,575 · program services $912,575

  • 24c · Other expenses: Admin & General

    total $730,131 · program services $730,131

  • 24d · Other expenses: Member Services

    total $169,634 · program services $169,634

  • 24e · All other expenses

    total $64,878

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $525 · end of year $28,671

  • 4 · Accounts receivable

    beginning of year $1,077,107 · end of year $1,209,854

  • 8 · Inventories for sale or use

    beginning of year $296,261 · end of year $305,568

  • 9 · Prepaid expenses and deferred charges

    beginning of year $58,115 · end of year $59,967

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

    $45,308,075

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

    $15,543,124

  • 10c · Land, buildings and equipment, net

    beginning of year $28,173,466 · end of year $29,764,951

  • 13 · Investments: program-related

    beginning of year $6,630,666 · end of year $7,094,245

  • 15 · Other assets

    beginning of year $29,388 · end of year $28,351

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,487,579 · end of year $1,506,568

  • 19 · Deferred revenue

    beginning of year $155,950 · end of year $116,005

  • 23 · Secured mortgages and notes payable

    beginning of year $18,482,271 · end of year $20,020,825

  • 24 · Unsecured notes and loans payable

    end of year $200,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $95,012 · end of year $92,151

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $802,664 · end of year $882,529

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,242,052 · end of year $15,673,529

Mission and programs · 2024

Mission

McDonough Power Cooperative is a member-owned and locally controlled cooperative business whose mission is to provide high quality electric and related services in a safe, reliable and financially responsible manner for the betterment of the membership and the area it serves.

  • McDonough Power Cooperative supplies electric power to members in portions of Fulton, Hancock, Henderson, Knox, McDonough, Schuyler and Warren counties in West-Central Illinois. More than 5,000 households and businesses receive power from McDonough Power.

As filed on the 2024 return.

Listed in Part VII

  • Robert M Smith

    President & CEO

    Total calculated
    $308,272
    From this org
    $187,984
    From related orgs
    $0
    Other
    $120,288
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,984
    Bonus
    not reported
    Other
    not reported
    Deferred
    $90,671
    Nontaxable benefits
    $29,617
    Filer's total
    $308,272

  • Doug Bear

    Line Superintendent

    Total calculated
    $211,008
    From this org
    $124,894
    From related orgs
    $0
    Other
    $86,114
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,894
    Bonus
    not reported
    Other
    not reported
    Deferred
    $62,896
    Nontaxable benefits
    $23,218
    Filer's total
    $211,008

  • Tracy Camden

    CFO

    Total calculated
    $177,865
    From this org
    $129,060
    From related orgs
    $0
    Other
    $48,805
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,060
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,561
    Nontaxable benefits
    $23,244
    Filer's total
    $177,865

  • Joseph Wernsman

    Journeyman Lineman

    Total calculated
    $162,262
    From this org
    $123,843
    From related orgs
    $0
    Other
    $38,419
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $123,843
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,500
    Nontaxable benefits
    $20,919
    Filer's total
    $162,262

  • Gabe Williams

    Journeyman Lineman

    Total calculated
    $151,515
    From this org
    $121,050
    From related orgs
    $0
    Other
    $30,465
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $121,050
    Bonus
    not reported
    Other
    not reported
    Deferred
    $9,546
    Nontaxable benefits
    $20,919
    Filer's total
    $151,515

  • Hunter Maxwell

    Crew Foreman

    Total calculated
    $148,689
    From this org
    $125,434
    From related orgs
    $0
    Other
    $23,255
    Hours/week
    45

  • Riley Entwistle

    Journeyman Lineman

    Total calculated
    $145,262
    From this org
    $122,458
    From related orgs
    $0
    Other
    $22,804
    Hours/week
    45

  • Steve Hall

    Director

    Total calculated
    $6,660
    From this org
    $6,660
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeffrey Moore

    Director

    Total calculated
    $5,775
    From this org
    $5,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Walter Lewis

    Director

    Total calculated
    $5,700
    From this org
    $5,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • David Lueck

    Director

    Total calculated
    $4,498
    From this org
    $4,498
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Michael Cox

    Director

    Total calculated
    $4,348
    From this org
    $4,348
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Courtney Chandler

    Director

    Total calculated
    $4,150
    From this org
    $4,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Dwyer

    Director

    Total calculated
    $3,725
    From this org
    $3,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Bryson Bedwell

    Director

    Total calculated
    $2,325
    From this org
    $2,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jerry Riggins

    Director

    Total calculated
    $2,108
    From this org
    $2,108
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ryan Litchfield

    Director

    Total calculated
    $2,025
    From this org
    $0
    From related orgs
    $0
    Other
    $2,025
    Hours/week
    1

  • Steven Lynn

    Director

    Total calculated
    $1,575
    From this org
    $1,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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
2024
Filed
30 October 2025
IRS schema version
2024v5.2
Source object
202523089349301847

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