Skip to content
Nonprofiteer
← PRAIRIE ENERGY COOPERATIVE

Form 990 for tax year 2023

Filed by PRAIRIE ENERGY COOPERATIVE.

Totals

Total revenue
$34,220,411
Total expenses
$33,253,684
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$30,904,943
Investment income
$86,883
Other revenue
$3,228,585
Total assets, end of year
$75,754,465
Total liabilities, end of year
$36,384,323
Net assets or fund balances, end of year
$39,370,142
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: SALE OF POWER

    total $30,903,102 · related or exempt $30,903,102

  • 2b · Program service revenue: METER TECH

    total $1,841 · related or exempt $1,841

  • 3 · Investment income

    total $89,745 · excluded $89,745

  • 6a · Gross rents

    real property $1,000

  • 6b · Less rental expenses

    real property $2,731

  • 6c · Rental income or loss

    real property -$1,731

  • 6d · Net rental income or loss

    total -$1,731 · excluded -$1,731

  • 7a · Gross sales of assets other than inventory

    other assets $108,827

  • 7b · Less cost or other basis and sales expenses

    other assets $111,689

  • 7c · Gain or loss

    other assets -$2,862

  • 7d · Net gain or loss

    total -$2,862 · excluded -$2,862

  • 10a · Gross sales of inventory

    $126,442

  • 10b · Cost of goods sold

    $119,710

  • 10c · Net income from sales of inventory

    total $6,732 · unrelated business -$4,327 · excluded $11,059

  • 11a · Other revenue: CAPITAL CREDITS

    total $3,185,433 · related or exempt $3,185,433

  • 11b · Other revenue: NEW HORIZONS K-1

    total $37,597 · unrelated business $37,597

  • 11c · Other revenue: EQUITY IN EARNINGS OF SUBSIDIARY

    total $1,234 · related or exempt $1,234

  • 11d · All other revenue

    total -$680 · unrelated business -$680

  • 11e · Other revenue, total

    $3,223,584

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,319,567

  • 5 · Compensation of officers, directors and key employees

    total $357,560

  • 7 · Other salaries and wages

    total $1,049,300

  • 9 · Other employee benefits

    total $546,120

  • 10 · Payroll taxes

    total $467,351

  • 20 · Interest

    total $744,924

  • 22 · Depreciation, depletion and amortization

    total $1,971,565

  • 24a · Other expenses: COST OF POWER

    total $23,707,630

  • 24b · Other expenses: DISTRIBUTION EXPENSE -

    total $427,412

  • 24c · Other expenses: ADMINISTRATIVE & GENERA

    total $346,510

  • 24d · Other expenses: DISTRIBUTION EXPENSE -

    total $344,478

  • 24e · All other expenses

    total -$28,733

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $662,879 · end of year $817,493

  • 2 · Savings and temporary cash investments

    beginning of year $1,486,139 · end of year $1,146,455

  • 4 · Accounts receivable

    beginning of year $2,483,714 · end of year $2,680,065

  • 8 · Inventories for sale or use

    beginning of year $998,235 · end of year $1,114,958

  • 9 · Prepaid expenses and deferred charges

    beginning of year $430,824 · end of year $411,972

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

    $64,135,773

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

    $21,000,821

  • 10c · Land, buildings and equipment, net

    beginning of year $41,431,200 · end of year $43,134,952

  • 12 · Investments: other securities

    beginning of year $495,234 · end of year $489,465

  • 13 · Investments: program-related

    beginning of year $24,707,157 · end of year $25,952,574

  • 15 · Other assets

    beginning of year $7,016 · end of year $6,531

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,736,845 · end of year $3,214,519

  • 19 · Deferred revenue

    beginning of year $1,147,526 · end of year $647,272

  • 23 · Secured mortgages and notes payable

    beginning of year $31,851,568 · end of year $32,484,066

  • 25 · Other liabilities

    beginning of year $39,341 · end of year $38,466

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $36,927,118 · end of year $39,370,142

Mission and programs · 2023

Mission

TO PROVIDE LEADERSHIP, SOLUTIONS AND SERVICE TO ENRICH QUALITY OF LIFE IN OUR COMMUNITY.

Activities or mission (Part I)

TO PROVIDE ELECTRIC POWER TO THE COOPERATIVE'S MEMBERS LOCATED PRIMARILY IN THE RURAL AREAS OF WRIGHT AND HANCOCK COUNTIES OF THE STATE OF IOWA.

  • PROVISION OF ELECTRIC POWER TO MEMBERS LOCATED PRIMARILY IN THE RURAL AREAS OF WRIGHT AND HANCOCK COUNTIES OF THE STATE OF IOWA.

As filed on the 2023 return.

Listed in Part VII

  • Marion Denger

    PRESIDENT

    Total calculated
    $8,400
    From this org
    $8,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joshua Amonson

    VICE PRESIDENT

    Total calculated
    $6,900
    From this org
    $6,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Donald Christopherson

    SECRETARY/TREASURER

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Allyn Waddingham

    ASSISTANT SECRETARY/TREASURER

    Total calculated
    $8,100
    From this org
    $8,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Ryan Eekhoff

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Ted Hall

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Scott Hasty

    DIRECTOR

    Total calculated
    $7,800
    From this org
    $7,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Tim Marienau

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $190,716
    From this org
    $138,539
    From related orgs
    $0
    Other
    $52,177
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $138,539
    Bonus
    $0
    Other
    $0
    Deferred
    $31,752
    Nontaxable benefits
    $20,425
    Filer's total
    $190,716

  • Lori Demuth

    FINANCE MANAGER

    Total calculated
    $113,444
    From this org
    $93,306
    From related orgs
    $0
    Other
    $20,138
    Hours/week
    43

  • Ken Norem

    DIR. OPERATIONS & ENGINEER

    Total calculated
    $197,790
    From this org
    $132,134
    From related orgs
    $0
    Other
    $65,656
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $132,134
    Bonus
    $0
    Other
    $0
    Deferred
    $58,042
    Nontaxable benefits
    $7,614
    Filer's total
    $197,790

  • Todd Foss

    MANAGER OF BUSINESS & COMMUNITY DEVELOPMENT

    Total calculated
    $188,684
    From this org
    $113,303
    From related orgs
    $0
    Other
    $75,381
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,303
    Bonus
    $0
    Other
    $0
    Deferred
    $66,667
    Nontaxable benefits
    $8,714
    Filer's total
    $188,684

  • Weston Held

    LINEMAN

    Total calculated
    $125,105
    From this org
    $110,786
    From related orgs
    $0
    Other
    $14,319
    Hours/week
    43

  • Timothy Slaichert

    ASSISTANT OPERATIONS COORDINATOR

    Total calculated
    $154,374
    From this org
    $112,230
    From related orgs
    $0
    Other
    $42,144
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $112,230
    Bonus
    $0
    Other
    $0
    Deferred
    $23,248
    Nontaxable benefits
    $18,896
    Filer's total
    $154,374

  • Hunter Venz

    LEAD LINEMAN

    Total calculated
    $123,092
    From this org
    $104,620
    From related orgs
    $0
    Other
    $18,472
    Hours/week
    42

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

The filer's explanations (Part III)

PART I, LINE 3
DECEMBER OF PRIOR YEAR BOARD VIEWS NRECA COMPENSATION SURVEY AND SETS COMPENSATION FOR NEXT YEAR. NO COMMITTEE, IT'S FULL BOARD.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PRAIRIE ENERGY DEVELOPMENT LLC

    LAND DEVELOPMENT · IA · 50% owned · share of income $2,484 · share of assets $410,369

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202413119349302596

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.