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Nonprofiteer
← BAYFIELD ELECTRIC COOPERATIVE

Form 990 for tax year 2025

Filed by BAYFIELD ELECTRIC COOPERATIVE.

Totals

Total revenue
$16,084,959
Total expenses
$15,448,919
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$15,610,031
Investment income
$16,720
Other revenue
$458,208
Total assets, end of year
$39,921,769
Total liabilities, end of year
$25,478,885
Net assets or fund balances, end of year
$14,442,884
Program services expenses (Part IX)
$15,448,919
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$15,448,919

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Operating Revenue

    total $15,610,031 · related or exempt $15,610,031 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $16,720 · related or exempt $16,720 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11a · Other revenue: Non-operating Revenue

    total $15,333 · related or exempt $15,333 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Capital Credit Patronage

    total $442,875 · related or exempt $442,875 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $458,208

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $431,650 · program services $431,650

  • 5 · Compensation of officers, directors and key employees

    total $605,550 · program services $605,550

  • 7 · Other salaries and wages

    total $1,760,833 · program services $1,760,833

  • 9 · Other employee benefits

    total $656,709 · program services $656,709

  • 10 · Payroll taxes

    total $160,654 · program services $160,654

  • 11b · Fees: legal

    total $38,607 · program services $38,607

  • 11c · Fees: accounting

    total $42,725 · program services $42,725

  • 12 · Advertising and promotion

    total $25,341 · program services $25,341

  • 16 · Occupancy

    total $0

  • 20 · Interest

    total $999,625 · program services $999,625

  • 22 · Depreciation, depletion and amortization

    total $1,733,606 · program services $1,733,606

  • 24a · Other expenses: Gross Revenue Tax

    total $240,467 · program services $240,467 · management and general $0 · fundraising $0

  • 24b · Other expenses: Cost of Power

    total $7,307,645 · program services $7,307,645 · management and general $0 · fundraising $0

  • 24c · Other expenses: Dues to Member Organizations

    total $60,496 · program services $60,496 · management and general $0 · fundraising $0

  • 24d · Other expenses: Other Administrative & Operational Expenses

    total $1,385,011 · program services $1,385,011 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,655,052 · end of year $930,011

  • 2 · Savings and temporary cash investments

    beginning of year $7,859 · end of year $8,879

  • 4 · Accounts receivable

    beginning of year $1,874,329 · end of year $2,020,592

  • 8 · Inventories for sale or use

    beginning of year $1,627,783 · end of year $1,247,156

  • 9 · Prepaid expenses and deferred charges

    beginning of year $113,897 · end of year $127,399

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

    $63,486,834

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

    $35,315,457

  • 10c · Land, buildings and equipment, net

    beginning of year $28,802,966 · end of year $28,171,377

  • 15 · Other assets

    beginning of year $7,051,113 · end of year $7,416,355

  • 17 · Accounts payable and accrued expenses

    beginning of year $847,892 · end of year $930,256

  • 23 · Secured mortgages and notes payable

    beginning of year $24,335,112 · end of year $20,748,210

  • 25 · Other liabilities

    beginning of year $1,598,790 · end of year $3,800,419

  • 29 · Capital stock, trust principal or current funds

    beginning of year $42,740 · end of year $42,945

  • 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 $14,308,465 · end of year $14,399,939

Mission and programs · 2025

Mission

Committed to provide safe, reliable, and affordable electricity to rural areas through superior customer service.

Activities or mission (Part I)

Electric Energy Distribution

  • To provide electrical energy to its members

    Expenses $15,448,919 · Revenue $16,084,959

As filed on the 2025 return.

Listed in Part VII

  • Christopher Kopel

    CEO

    Total calculated
    $343,277
    From this org
    $249,848
    From related orgs
    $0
    Other
    $93,429
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,848
    Bonus
    $0
    Other
    $0
    Deferred
    $59,939
    Nontaxable benefits
    $33,490
    Filer's total
    $343,277

  • Robert Lahti

    Operations Manager

    Total calculated
    $199,904
    From this org
    $135,753
    From related orgs
    $0
    Other
    $64,151
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,753
    Bonus
    $0
    Other
    $0
    Deferred
    $35,514
    Nontaxable benefits
    $28,637
    Filer's total
    $199,904

  • Sara Anderson

    CFO

    Total calculated
    $199,123
    From this org
    $135,077
    From related orgs
    $0
    Other
    $64,046
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,077
    Bonus
    $0
    Other
    $0
    Deferred
    $35,412
    Nontaxable benefits
    $28,634
    Filer's total
    $199,123

  • Amanda Kavajecz

    Biling Specialist

    Total calculated
    $177,528
    From this org
    $127,215
    From related orgs
    $0
    Other
    $50,313
    Hours/week
    51.75

    Schedule J breakdown matched by us

    Base
    $127,215
    Bonus
    $0
    Other
    $0
    Deferred
    $22,353
    Nontaxable benefits
    $27,959
    Filer's total
    $177,527

  • Matthew Tarasewicz

    Lineman

    Total calculated
    $160,081
    From this org
    $128,167
    From related orgs
    $0
    Other
    $31,914
    Hours/week
    46.59

    Schedule J breakdown matched by us

    Base
    $128,167
    Bonus
    $0
    Other
    $0
    Deferred
    $18,606
    Nontaxable benefits
    $13,308
    Filer's total
    $160,081

  • Braden Stegmann

    Lineman

    Total calculated
    $158,295
    From this org
    $141,705
    From related orgs
    $0
    Other
    $16,590
    Hours/week
    51.26

    Schedule J breakdown matched by us

    Base
    $141,705
    Bonus
    $0
    Other
    $0
    Deferred
    $16,065
    Nontaxable benefits
    $525
    Filer's total
    $158,295

  • Troy Seeger

    Line Foreman

    Total calculated
    $156,513
    From this org
    $136,250
    From related orgs
    $0
    Other
    $20,263
    Hours/week
    46.07

    Schedule J breakdown matched by us

    Base
    $136,250
    Bonus
    $0
    Other
    $0
    Deferred
    $19,617
    Nontaxable benefits
    $646
    Filer's total
    $156,513

  • Mark Santikko

    President

    Total calculated
    $9,300
    From this org
    $9,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.81

  • Curtis Berweger

    Secretary/Treasurer

    Total calculated
    $7,700
    From this org
    $7,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.29

  • Russell Bailey

    Vice President

    Total calculated
    $7,700
    From this org
    $7,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.96

  • James Kinzie

    Director

    Total calculated
    $7,450
    From this org
    $7,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.38

  • Barry Radloff

    Director

    Total calculated
    $7,450
    From this org
    $7,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.17

  • Carl Schutte

    Director

    Total calculated
    $7,450
    From this org
    $7,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.58

  • Roy Settgas

    Director

    Total calculated
    $5,950
    From this org
    $5,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.31

  • Michael Neslon

    Director

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.62

  • Robert Kretzschmar

    Director

    Total calculated
    $4,950
    From this org
    $4,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.52

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 committee
  • 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 I, Line 3
The board of directors determine the wages of the CEO with the guidance of the labor attorney.

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
7 May 2026
IRS schema version
2025v4.0
Source object
202601279349303615

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