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Nonprofiteer
← D S & O RURAL ELECTRIC COOPERATIVE ASSOCIATION INC

Form 990 for tax year 2023

Filed by D S & O RURAL ELECTRIC COOPERATIVE ASSOCIATION INC.

Totals

Total revenue
$22,300,999
Total expenses
$22,168,824
Contributions and grants received
$132,175
Grants paid
$10,000
Program service revenue
$21,995,662
Investment income
$166,387
Other revenue
$6,775
Total assets, end of year
$73,956,995
Total liabilities, end of year
$49,182,777
Net assets or fund balances, end of year
$24,774,218
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.

  • 1e · Government grants (contributions)

    $132,175

  • 2a · Program service revenue: Sale of Electricity

    total $21,383,493 · related or exempt $21,383,493

  • 2b · Program service revenue: Capital Credits

    total $355,319 · related or exempt $355,319

  • 2c · Program service revenue: Misc Electric Revenue

    total $256,850 · related or exempt $256,850

  • 3 · Investment income

    total $98,457 · excluded $98,457

  • 7a · Gross sales of assets other than inventory

    other assets $67,930

  • 7c · Gain or loss

    other assets $67,930

  • 7d · Net gain or loss

    total $67,930 · related or exempt $67,930

  • 11a · Other revenue: Non-Operating

    total $6,775 · related or exempt $6,775

  • 11e · Other revenue, total

    $6,775

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,000

  • 4 · Benefits paid to or for members

    total $1,750,515

  • 5 · Compensation of officers, directors and key employees

    total $707,364

  • 7 · Other salaries and wages

    total $712,281

  • 20 · Interest

    total $1,954,632

  • 22 · Depreciation, depletion and amortization

    total $2,129,078

  • 24a · Other expenses: Cost of Power

    total $10,679,386 · program services $10,679,386

  • 24b · Other expenses: Admin & General

    total $1,019,194 · program services $1,019,194

  • 24c · Other expenses: Distribution Expense

    total $1,678,462 · program services $1,678,462

  • 24d · Other expenses: Member Services

    total $400,710 · program services $400,710

  • 24e · All other expenses

    total $1,127,202

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,117,880 · end of year $2,181,944

  • 2 · Savings and temporary cash investments

    beginning of year $1,523,850 · end of year $641,860

  • 4 · Accounts receivable

    beginning of year $2,106,161 · end of year $1,724,923

  • 8 · Inventories for sale or use

    beginning of year -$9,068 · end of year -$10,856

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,817,911 · end of year $2,683,785

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

    $74,344,467

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

    $16,196,673

  • 10c · Land, buildings and equipment, net

    beginning of year $57,578,165 · end of year $58,147,794

  • 13 · Investments: program-related

    beginning of year $8,335,686 · end of year $8,582,336

  • 15 · Other assets

    beginning of year $152,357 · end of year $5,209

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,029,344 · end of year $2,140,835

  • 19 · Deferred revenue

    beginning of year $70,495 · end of year $68,168

  • 23 · Secured mortgages and notes payable

    beginning of year $48,781,619 · end of year $46,787,302

  • 25 · Other liabilities

    beginning of year $495,657 · end of year $186,472

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

    beginning of year $3,917,462 · end of year $4,557,191

  • 31 · Retained earnings, endowment or other funds

    beginning of year $19,328,365 · end of year $20,217,027

Mission and programs · 2023

Mission

To provide to our members safe, reliable, and affordable energy, educational programs, high quality service and other products through the provision of cooperative financial stability, hiring innovative employees and environmental stewardship.

  • The Cooperative serves approximately 8,400 residential and commercial meters in some thirty communities spread throughout a nine county area in Central Kansas. Its service area extends from Junction City to McPherson and from Glasco to Lost Springs. This area includes the City of Solomon and certain areas within the city limits of Junction City. The majority of residential customers continue to be found in Dickinson, Saline, and Ottawa counties. Signficant numbers are also in Geary and McPherson counties.

As filed on the 2023 return.

Listed in Part VII

  • Timothy J Power

    CEO

    Total calculated
    $390,071
    From this org
    $268,152
    From related orgs
    $0
    Other
    $121,919
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,152
    Bonus
    not reported
    Other
    not reported
    Deferred
    $94,541
    Nontaxable benefits
    $27,378
    Filer's total
    $390,071

  • Marla Marshall

    CFO

    Total calculated
    $239,143
    From this org
    $138,975
    From related orgs
    $0
    Other
    $100,168
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $138,975
    Bonus
    not reported
    Other
    not reported
    Deferred
    $74,086
    Nontaxable benefits
    $26,082
    Filer's total
    $239,143

  • Michael Olberding

    Operations Manager

    Total calculated
    $209,762
    From this org
    $134,184
    From related orgs
    $0
    Other
    $75,578
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $134,184
    Bonus
    not reported
    Other
    not reported
    Deferred
    $49,522
    Nontaxable benefits
    $26,056
    Filer's total
    $209,762

  • Derrick Rutherford

    Member Services

    Total calculated
    $181,075
    From this org
    $121,824
    From related orgs
    $0
    Other
    $59,251
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $121,824
    Bonus
    not reported
    Other
    not reported
    Deferred
    $33,362
    Nontaxable benefits
    $25,889
    Filer's total
    $181,075

  • Tracy Turner

    Operations Manager

    Total calculated
    $164,914
    From this org
    $111,057
    From related orgs
    $0
    Other
    $53,857
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,057
    Bonus
    not reported
    Other
    not reported
    Deferred
    $43,322
    Nontaxable benefits
    $10,535
    Filer's total
    $164,914

  • Kiff Swisher

    Lineman

    Total calculated
    $153,530
    From this org
    $111,848
    From related orgs
    $0
    Other
    $41,682
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $111,848
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,615
    Nontaxable benefits
    $24,067
    Filer's total
    $153,530

  • James Christopher

    Director

    Total calculated
    $17,100
    From this org
    $17,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.16

  • Ken Hedberg

    Director

    Total calculated
    $12,300
    From this org
    $12,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.27

  • Michael Richards

    Director

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.79

  • Shelia Hummel

    Director

    Total calculated
    $9,550
    From this org
    $9,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.95

  • David Mueller

    Director

    Total calculated
    $7,400
    From this org
    $7,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.76

  • Dean Allison

    Director

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.12

  • David Butler

    Director

    Total calculated
    $6,300
    From this org
    $6,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.91

  • Ken Berry

    Director

    Total calculated
    $5,400
    From this org
    $5,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.89

  • Bruce Spare

    Director

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.59

  • Dane Clark

    Director

    Total calculated
    $600
    From this org
    $600
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.32

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $600
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $600

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

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
2023
Filed
25 September 2024
IRS schema version
2023v5.1
Source object
202412759349301021

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