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Nonprofiteer
← D S & O RURAL ELECTRIC COOPERATIVE ASSOCIATION INC

Form 990 for tax year 2022

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

Totals

Total revenue
$23,652,243
Total expenses
$23,652,243
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$23,453,038
Investment income
$58,797
Other revenue
$140,408
Total assets, end of year
$74,622,942
Total liabilities, end of year
$51,377,115
Net assets or fund balances, end of year
$23,245,827
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.

  • 2a · Program service revenue: SALE OF ELECTRICITY

    total $22,908,892 · related or exempt $22,908,892

  • 2b · Program service revenue: CAPITAL CREDITS

    total $296,903 · related or exempt $296,903

  • 2c · Program service revenue: MISC ELECTRIC REVENUE

    total $247,243 · related or exempt $247,243

  • 3 · Investment income

    total $61,922 · excluded $61,922

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

    other assets $3,125

  • 7c · Gain or loss

    other assets -$3,125

  • 7d · Net gain or loss

    total -$3,125 · related or exempt -$3,125

  • 11a · Other revenue: MISC NON ELETRIC REVENUE

    total $140,408 · related or exempt $140,408

  • 11e · Other revenue, total

    $140,408

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,102,355

  • 5 · Compensation of officers, directors and key employees

    total $697,173

  • 7 · Other salaries and wages

    total $910,068

  • 20 · Interest

    total $1,987,073

  • 22 · Depreciation, depletion and amortization

    total $2,057,503

  • 24a · Other expenses: COST OF POWER

    total $12,027,799

  • 24b · Other expenses: ADMIN & GENERAL

    total $1,755,757

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $1,751,726

  • 24d · Other expenses: MEMBER SERVICES

    total $362,789

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,390,120 · end of year $2,117,880

  • 2 · Savings and temporary cash investments

    beginning of year $1,000,000 · end of year $1,523,850

  • 4 · Accounts receivable

    beginning of year $1,285,397 · end of year $2,106,161

  • 8 · Inventories for sale or use

    beginning of year $3,740 · end of year -$9,068

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,137,943 · end of year $2,817,911

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

    $72,990,914

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

    $15,412,749

  • 10c · Land, buildings and equipment, net

    beginning of year $57,284,997 · end of year $57,578,165

  • 13 · Investments: program-related

    beginning of year $8,138,347 · end of year $8,335,686

  • 15 · Other assets

    beginning of year $138,424 · end of year $152,357

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,712,022 · end of year $2,029,344

  • 19 · Deferred revenue

    beginning of year $69,775 · end of year $70,495

  • 23 · Secured mortgages and notes payable

    beginning of year $48,751,476 · end of year $48,781,619

  • 25 · Other liabilities

    beginning of year $464,237 · end of year $495,657

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

    beginning of year $3,796,000 · end of year $3,917,462

  • 31 · Retained earnings, endowment or other funds

    beginning of year $17,585,458 · end of year $19,328,365

Mission and programs · 2022

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 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dean Allison

    DIRECTOR

    Total calculated
    $5,100
    From this org
    $5,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.78

  • David Butler

    DIRECTOR

    Total calculated
    $6,300
    From this org
    $6,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.55

  • James Christopher

    DIRECTOR

    Total calculated
    $12,850
    From this org
    $12,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Dane Clark

    DIRECTOR

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.81

  • Ken Hedberg

    DIRECTOR

    Total calculated
    $8,100
    From this org
    $8,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.47

  • Shelia Hummel

    DIRECTOR

    Total calculated
    $6,300
    From this org
    $6,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.45

  • Brian Lang

    DIRECTOR

    Total calculated
    $4,900
    From this org
    $4,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.92

  • Bruce Spare

    DIRECTOR

    Total calculated
    $5,895
    From this org
    $5,895
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.55

  • David Mueller

    DIRECTOR

    Total calculated
    $9,200
    From this org
    $9,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.57

  • Ken Berry

    DIRECTOR

    Total calculated
    $4,650
    From this org
    $4,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.86

  • Michael Richards

    DIRECTOR

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.94

  • Timothy J Power

    CEO

    Total calculated
    $381,816
    From this org
    $249,829
    From related orgs
    $0
    Other
    $131,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,829
    Bonus
    not reported
    Other
    not reported
    Deferred
    $106,980
    Nontaxable benefits
    $25,007
    Filer's total
    $381,816

  • Marla Marshall

    CFO

    Total calculated
    $244,262
    From this org
    $130,907
    From related orgs
    $0
    Other
    $113,355
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $130,907
    Bonus
    not reported
    Other
    not reported
    Deferred
    $89,453
    Nontaxable benefits
    $23,902
    Filer's total
    $244,262

  • Michael Olberding

    OPERATIONS M

    Total calculated
    $216,781
    From this org
    $130,716
    From related orgs
    $0
    Other
    $86,065
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $130,716
    Bonus
    not reported
    Other
    not reported
    Deferred
    $62,175
    Nontaxable benefits
    $23,890
    Filer's total
    $216,781

  • Derrick Rutherford

    MEMBER SERVI

    Total calculated
    $193,235
    From this org
    $118,643
    From related orgs
    $0
    Other
    $74,592
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $118,643
    Bonus
    not reported
    Other
    not reported
    Deferred
    $50,871
    Nontaxable benefits
    $23,721
    Filer's total
    $193,235

  • Kevin Stroud

    LINEMAN

    Total calculated
    $193,444
    From this org
    $115,332
    From related orgs
    $0
    Other
    $78,112
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $115,332
    Bonus
    not reported
    Other
    not reported
    Deferred
    $55,638
    Nontaxable benefits
    $22,474
    Filer's total
    $193,444

  • Kiff Swisher

    LINEMAN

    Total calculated
    $162,652
    From this org
    $114,498
    From related orgs
    $0
    Other
    $48,154
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $114,498
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,737
    Nontaxable benefits
    $22,417
    Filer's total
    $162,652

  • Brandon Swenson

    LINEMAN

    Total calculated
    $143,956
    From this org
    $111,015
    From related orgs
    $0
    Other
    $32,941
    Hours/week
    43

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
2022
Filed
25 September 2023
IRS schema version
2022v5.0
Source object
202332729349301513

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