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Nonprofiteer
← WOLVERINE POWER MARKETING COOPERATIVE

Form 990 for tax year 2022

Filed by WOLVERINE POWER MARKETING COOPERATIVE.

Totals

Total revenue
$122,212,710
Total expenses
$122,212,710
Contributions and grants received
$0
Grants paid
$15,000
Program service revenue
$121,097,592
Investment income
$1,115,118
Other revenue
$0
Total assets, end of year
$33,721,152
Total liabilities, end of year
$11,341,551
Net assets or fund balances, end of year
$22,379,601
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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: Electric Power Resale

    total $121,097,592 · related or exempt $121,097,592 · 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 $1,115,118 · related or exempt $980,910 · excluded $134,208

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,000

  • 4 · Benefits paid to or for members

    total $1,631,651

  • 5 · Compensation of officers, directors and key employees

    total $50,075

  • 11a · Fees: management

    total $541,742

  • 11b · Fees: legal

    total $68,570

  • 11c · Fees: accounting

    total $18,650

  • 11g · Fees: other

    total $0

  • 13 · Office expenses

    total $3,218

  • 17 · Travel

    total $4,138

  • 19 · Conferences, conventions and meetings

    total $19,690

  • 20 · Interest

    total $19,587

  • 23 · Insurance

    total $54,304

  • 24a · Other expenses: Purchased Power

    total $119,290,741

  • 24b · Other expenses: Membership Dues and Subscriptions

    total $120,848

  • 24c · Other expenses: Board and Other Meeting Expenses

    total $18,865

  • 24d · Other expenses: RPS Compliance

    total $280,000

  • 24e · All other expenses

    total $75,631

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,664,279 · end of year $1,586,401

  • 4 · Accounts receivable

    beginning of year $9,624,671 · end of year $10,727,684

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60,725 · end of year $364,059

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 12 · Investments: other securities

    beginning of year $20,312,351 · end of year $21,016,460

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $4,180 · end of year $26,548

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,648,256 · end of year $10,421,551

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $1,270,000 · end of year $920,000

  • 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 $3,900 · end of year $3,900

  • 31 · Retained earnings, endowment or other funds

    beginning of year $20,744,050 · end of year $22,375,701

Mission and programs · 2022

Mission

provide affordable power supply to our members through flexible and creative pricing solutions.

Activities or mission (Part I)

PROVIDING ELECTRIC POWER TO MEMBERS

  • WOLVERINE POWER MARKETING COOPERATIVE (WPMC) PROVIDES RETAIL ELECTRIC SERVICES AS AN ALTERNATIVE ELECTRIC SUPPLIER SERVING 20 MEMBER-OWNERS.

As filed on the 2022 return.

Listed in Part VII

  • Brian Taivalkoski

    Board Secretary / Treasurer (beginning 3/15/22)

    Total calculated
    $7,300
    From this org
    $7,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Chad Stirrett

    Board Vice Chairman (beginning 3/15/22)

    Total calculated
    $6,425
    From this org
    $6,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.6

  • Daniel Sovinski

    Board Secretary / Treasurer (ending 3/05/22)

    Total calculated
    $0
    Hours/week
    0.1

  • James Felch

    Board Chairman (ending 3/15/22)

    Total calculated
    $1,775
    From this org
    $1,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.2

  • Rob Hunter

    Vice Chairman / Chairman (transitioned 3/15/22)

    Total calculated
    $7,500
    From this org
    $7,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • Dan Taylor

    Director

    Total calculated
    $4,350
    From this org
    $4,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.1

  • Larry Hermanson

    Director

    Total calculated
    $9,850
    From this org
    $9,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Mike Kuhn

    Director

    Total calculated
    $6,450
    From this org
    $6,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Rence Meredith

    Director (Beginning 3/16/22)

    Total calculated
    $6,425
    From this org
    $6,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.7

  • Daniel H DeCoeur

    President & CEO

    Total calculated
    $0
    Hours/week
    31.6

  • Richard M Kohler

    CFO

    Total calculated
    $0
    Hours/week
    7

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202343109349301954

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