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Nonprofiteer
← KANKAKEE VALLEY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by KANKAKEE VALLEY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$41,267,905
Total expenses
$39,369,908
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$40,180,452
Investment income
$71,471
Other revenue
$1,015,982
Total assets, end of year
$92,935,164
Total liabilities, end of year
$38,172,255
Net assets or fund balances, end of year
$54,762,909
Program services expenses (Part IX)
$39,369,908
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$39,369,908

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.

  • 2a · Program service revenue: ELECTRIC SALES

    total $40,180,452 · related or exempt $40,180,452

  • 3 · Investment income

    total $96,931 · excluded $96,931

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

    other assets $25,460

  • 7c · Gain or loss

    other assets -$25,460

  • 7d · Net gain or loss

    total -$25,460 · excluded -$25,460

  • 11a · Other revenue: PATRONAGE REVENUE

    total $820,592 · excluded $820,592

  • 11b · Other revenue: MISC. REVENUE-EXCLUDED-990

    total $197,535 · excluded $197,535

  • 11c · Other revenue: NON-BUSINESS INCOME

    total -$2,145 · unrelated business -$2,145

  • 11e · Other revenue, total

    $1,015,982

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $1,249,986 · program services $1,249,986

  • 22 · Depreciation, depletion and amortization

    total $2,682,586 · program services $2,682,586

  • 24a · Other expenses: PURCHASED POWER

    total $26,278,402 · program services $26,278,402

  • 24b · Other expenses: OPERATIONS & MAINTENANC

    total $4,672,762 · program services $4,672,762

  • 24c · Other expenses: GENERAL & ADMINISTRATIV

    total $2,975,251 · program services $2,975,251

  • 24d · Other expenses: CONSUMER SERVICE

    total $1,249,850 · program services $1,249,850

  • 24e · All other expenses

    total $261,071 · program services $261,071

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,283,224 · end of year $3,739,331

  • 2 · Savings and temporary cash investments

    beginning of year $1,534,660 · end of year $1,562,441

  • 4 · Accounts receivable

    beginning of year $3,132,833 · end of year $3,337,156

  • 8 · Inventories for sale or use

    beginning of year $813,267 · end of year $1,083,250

  • 9 · Prepaid expenses and deferred charges

    beginning of year $88,531 · end of year $124,151

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

    $102,119,599

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

    $33,449,649

  • 10c · Land, buildings and equipment, net

    beginning of year $59,024,281 · end of year $68,669,950

  • 12 · Investments: other securities

    beginning of year $12,951,113 · end of year $13,481,624

  • 15 · Other assets

    beginning of year $1,122,801 · end of year $937,261

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,573,826 · end of year $3,734,047

  • 23 · Secured mortgages and notes payable

    beginning of year $24,073,203 · end of year $33,206,165

  • 25 · Other liabilities

    beginning of year $1,263,437 · end of year $1,232,043

  • 29 · Capital stock, trust principal or current funds

    beginning of year $644,205 · end of year $644,205

  • 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 $52,396,039 · end of year $54,118,704

Mission and programs · 2022

Mission

DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS.

Activities or mission (Part I)

KANKAKEE VALLEY REMC IS A RURAL ELECTRIC UTILITY SERVING MEMBERS IN PARTS OF SEVEN COUNTIES.

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS.

    Expenses $39,369,908 · Revenue $40,180,452

As filed on the 2022 return.

Listed in Part VII

  • William Bohling

    SECRETARY

    Total calculated
    $11,100
    From this org
    $11,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • Christian Birky

    DIRECTOR

    Total calculated
    $9,900
    From this org
    $9,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.99

  • Dean Moretton

    DIRECTOR

    Total calculated
    $11,400
    From this org
    $11,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.52

  • David Janney

    VICE PRESIDENT

    Total calculated
    $12,900
    From this org
    $12,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.46

  • Russell Guse

    DIRECTOR

    Total calculated
    $9,900
    From this org
    $9,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.53

  • Katrina Harper

    DIRECTOR

    Total calculated
    $13,200
    From this org
    $13,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.06

  • Michael Yankauskas

    PRESIDENT

    Total calculated
    $13,800
    From this org
    $13,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.06

  • Scott Sears

    CEO

    Total calculated
    $328,634
    From this org
    $186,175
    From related orgs
    $0
    Other
    $142,459
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $186,175
    Bonus
    $0
    Other
    $0
    Deferred
    $118,293
    Nontaxable benefits
    $24,166
    Filer's total
    $328,634

  • Scott Hanson

    DIRECTOR OF OPERATIONS

    Total calculated
    $163,638
    From this org
    $137,728
    From related orgs
    $0
    Other
    $25,910
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $137,728
    Bonus
    $0
    Other
    $0
    Deferred
    $1,815
    Nontaxable benefits
    $24,095
    Filer's total
    $163,638

  • Chris Frank

    JOURNEYMAN LINEMAN

    Total calculated
    $161,683
    From this org
    $117,115
    From related orgs
    $0
    Other
    $44,568
    Hours/week
    45.4

    Schedule J breakdown matched by us

    Base
    $117,115
    Bonus
    $0
    Other
    $0
    Deferred
    $20,421
    Nontaxable benefits
    $24,147
    Filer's total
    $161,683

  • Jeffery Newburn

    LINE SUPERINTENDENT

    Total calculated
    $167,844
    From this org
    $114,396
    From related orgs
    $0
    Other
    $53,448
    Hours/week
    41.4

    Schedule J breakdown matched by us

    Base
    $114,396
    Bonus
    $0
    Other
    $0
    Deferred
    $29,386
    Nontaxable benefits
    $24,062
    Filer's total
    $167,844

  • Ron Pych

    JOURNEYMAN LINEMAN

    Total calculated
    $164,681
    From this org
    $112,288
    From related orgs
    $0
    Other
    $52,393
    Hours/week
    43.8

    Schedule J breakdown matched by us

    Base
    $112,288
    Bonus
    $0
    Other
    $0
    Deferred
    $31,434
    Nontaxable benefits
    $20,959
    Filer's total
    $164,681

  • Jesse Webb

    JOURNEYMAN LINEMAN

    Total calculated
    $154,479
    From this org
    $112,190
    From related orgs
    $0
    Other
    $42,289
    Hours/week
    44.3

    Schedule J breakdown matched by us

    Base
    $112,190
    Bonus
    $0
    Other
    $0
    Deferred
    $18,235
    Nontaxable benefits
    $24,054
    Filer's total
    $154,479

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
  • 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 3
THE CEO'S COMPENSATION IS BASED ON AN ANNUAL REVIEW BY THE BOARD OF DIRECTORS. THE BOARD TAKES INTO CONSIDERATION THE INFORMATION RECEIVED FROM A STATE AND NATIONAL COMPENSATION SURVEY. THEY COMBINE ALL THE ABOVE INFORMATION AND REVIEW THE GOALS SET FORTH FOR THE YEAR TO DETERMINE THE CEO'S COMPENSATION FOR THE YEAR.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • KV SERVICES LLC

    SERVICES · IN

    Directly controlled by KANKAKEE VALLEY REMC

Provenance

Return type
form_990
Tax year
2022
Filed
12 September 2023
IRS schema version
2022v5.0
Source object
202302719349300800

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