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Nonprofiteer
← CENTRAL POWER ELECTRIC COOP INC

Form 990 for tax year 2023

Filed by CENTRAL POWER ELECTRIC COOP INC.

Totals

Total revenue
$188,214,649
Total expenses
$173,849,791
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$175,594,334
Investment income
$261,085
Other revenue
$12,359,230
Total assets, end of year
$479,614,700
Total liabilities, end of year
$322,120,127
Net assets or fund balances, end of year
$157,494,573
Program services expenses (Part IX)
$173,849,791
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$173,849,791

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: Electricity Sales to Members

    total $159,889,436 · related or exempt $159,889,436 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Transmission Revenues - SPP

    total $11,945,588 · related or exempt $11,945,588 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Transmission Revenues - Leases

    total $2,388,230 · related or exempt $2,388,230 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Other Electric Revenues

    total $1,371,080 · related or exempt $1,371,080 · unrelated business $0 · excluded $0

  • 2e · Program service revenue

    total $0 · related or exempt $0 · 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 $261,085 · related or exempt $261,085 · 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

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

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

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

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

  • 8a · Fundraising events: gross income

    $0

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

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11a · Other revenue: Patronage Allocations & Capital

    total $12,359,230 · related or exempt $12,359,230 · unrelated business $0 · excluded $0

  • 11b · Other revenue

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

  • 11c · Other revenue

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

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $12,359,230

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 $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $8,666,878 · program services $8,666,878 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $10,163,712 · program services $10,163,712 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Cost of Power

    total $142,641,290 · program services $142,641,290 · management and general $0 · fundraising $0

  • 24b · Other expenses: Transmission Operations & Maintenance

    total $6,038,535 · program services $6,038,535 · management and general $0 · fundraising $0

  • 24c · Other expenses: Distribution Operations & Maintenance

    total $3,179,253 · program services $3,179,253 · management and general $0 · fundraising $0

  • 24d · Other expenses: Administrative & General

    total $2,743,991 · program services $2,743,991 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $416,132 · program services $416,132 · management and general $0 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $146,394 · end of year $255,524

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $16,149,768 · end of year $15,247,002

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $217,000 · end of year $217,000

  • 8 · Inventories for sale or use

    beginning of year $19,748,464 · end of year $23,620,864

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,333,635 · end of year $489,033

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

    $422,532,416

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

    $105,688,570

  • 10c · Land, buildings and equipment, net

    beginning of year $297,807,085 · end of year $316,843,846

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $117,666,847 · end of year $122,941,431

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,109,805 · end of year $13,403,097

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $7,256,348 · end of year $3,800,000

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $282,147,763 · end of year $300,921,996

  • 24 · Unsecured notes and loans payable

    beginning of year $417,000 · end of year $2,017,000

  • 25 · Other liabilities

    beginning of year $2,138,458 · end of year $1,978,034

  • 27 · Net assets without donor restrictions

    beginning of year $146,999,819 · end of year $157,494,573

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

To assist our member systems to become electric suppliers of choice by serving as a leading and unifying force among our membership providing reliable economical and efficient electric supply and performing those functions that can most efficiently be provided as a united effort.

Activities or mission (Part I)

Providing wholesale all-requirements electric service to our six member rural electric cooperatives in North Dakota.

  • Providing wholesale all-requirements electric service to our six member rural electric cooperatives in North Dakota.

    Expenses $173,849,791 · Revenue $187,953,564

As filed on the 2023 return.

Listed in Part VII

  • Arden Fuher

    Director

    Total calculated
    $18,000
    From this org
    $18,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4
  • Mark Brehm

    President

    Total calculated
    $21,600
    From this org
    $21,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    7
  • Troy Presser

    Director

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4
  • Robert Wolf

    Secretary Treasurer

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4
  • Jean Brandt

    Vice President

    Total calculated
    $22,400
    From this org
    $22,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    4
  • David Straley

    Director

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $10,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $10,000
  • David Charles

    Director

    Total calculated
    $9,600
    From this org
    $9,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4
  • Thomas L Meland

    General Manager

    Total calculated
    $942,799
    From this org
    $810,385
    From related orgs
    $0
    Other
    $132,414
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $464,858
    Bonus
    $0
    Other
    $345,528
    Deferred
    $106,163
    Nontaxable benefits
    $30,351
    Filer's total
    $946,900
  • Michael J Kossan

    Manager of Accounting Finance

    Total calculated
    $388,625
    From this org
    $279,516
    From related orgs
    $0
    Other
    $109,109
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $279,516
    Bonus
    $0
    Other
    $0
    Deferred
    $90,522
    Nontaxable benefits
    $21,580
    Filer's total
    $391,618
  • Mark A Sherman

    Manager of Operations Engineering

    Total calculated
    $422,149
    From this org
    $299,414
    From related orgs
    $0
    Other
    $122,735
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,414
    Bonus
    $0
    Other
    $0
    Deferred
    $96,484
    Nontaxable benefits
    $29,359
    Filer's total
    $425,257
  • Ryan C Callahan

    Chief Transmission Engineer

    Total calculated
    $289,649
    From this org
    $198,667
    From related orgs
    $0
    Other
    $90,982
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,667
    Bonus
    $0
    Other
    $0
    Deferred
    $64,731
    Nontaxable benefits
    $28,437
    Filer's total
    $291,835
  • Dennis M Olson

    Chief Substation Engineer

    Total calculated
    $259,273
    From this org
    $194,484
    From related orgs
    $0
    Other
    $64,789
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,484
    Bonus
    $0
    Other
    $0
    Deferred
    $61,414
    Nontaxable benefits
    $5,444
    Filer's total
    $261,342
  • Todd T Ahmann

    Network Administrator

    Total calculated
    $268,664
    From this org
    $183,203
    From related orgs
    $0
    Other
    $85,461
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,203
    Bonus
    $0
    Other
    $0
    Deferred
    $59,210
    Nontaxable benefits
    $28,245
    Filer's total
    $270,658
  • Kenneth L Haugen

    Operations Superintendent

    Total calculated
    $264,972
    From this org
    $180,318
    From related orgs
    $0
    Other
    $84,654
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,318
    Bonus
    $0
    Other
    $0
    Deferred
    $58,403
    Nontaxable benefits
    $28,221
    Filer's total
    $266,942
  • Randy Brunner

    Substation Engineer

    Total calculated
    $259,995
    From this org
    $176,461
    From related orgs
    $0
    Other
    $83,534
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,461
    Bonus
    $0
    Other
    $0
    Deferred
    $57,283
    Nontaxable benefits
    $28,180
    Filer's total
    $261,924
  • Kim Rasmussen

    Director

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part I Line 4b
| Name :, Title:, Item Selected:, Amount:| Thomas Meland, 340000|

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
10 May 2024
IRS schema version
2023v5.0
Source object
202401319349302870

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