Form 990 for tax year 2022

Filed by EMILY COOPERATIVE TELEPHONE COMPANY.

Totals

Total revenue: $4,465,633
Total expenses: $4,316,585
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $4,337,470
Investment income: $97,214
Other revenue: $30,949
Total assets, end of year: $18,223,662
Total liabilities, end of year: $9,897,326
Net assets or fund balances, end of year: $8,326,336
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: TELEPHONE & CATV SERVI

total $4,237,822 · related or exempt $4,237,822
2b · Program service revenue: PARTNERSHIP INCOME

total $82,216 · related or exempt $82,216
2c · Program service revenue: ADVERTISING INCOME

total $17,432 · unrelated business $17,432
3 · Investment income

total $112,136 · excluded $112,136
6a · Gross rents

real property $30,949
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $30,949
6d · Net rental income or loss

total $30,949 · related or exempt $30,949
7a · Gross sales of assets other than inventory

securities $353,926
7b · Less cost or other basis and sales expenses

securities $368,848
7c · Gain or loss

securities -$14,922
7d · Net gain or loss

total -$14,922 · excluded -$14,922

Functional expenses

Part IX, the statement of functional expenses.

4 · Benefits paid to or for members

total $583,651
5 · Compensation of officers, directors and key employees

total $275,905
8 · Pension plan contributions

total $202,223
11c · Fees: accounting

total $238,234
12 · Advertising and promotion

total $80,923
16 · Occupancy

total $948,058
20 · Interest

total $339,991
22 · Depreciation, depletion and amortization

total $629,490
24a · Other expenses: REPAIRS & MAINTENANCE

total $298,535
24b · Other expenses: CORPORATE OPERATIONS

total $273,507
24c · Other expenses: NONREGULATED ACTIVITY E

total $204,487
24d · Other expenses: CUSTOMER OPERATIONS

total $155,735
24e · All other expenses

total $85,846

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,117,833 · end of year $4,975,511
2 · Savings and temporary cash investments

beginning of year $97,111 · end of year $79,102
4 · Accounts receivable

beginning of year $224,200 · end of year $481,316
8 · Inventories for sale or use

beginning of year $248,682 · end of year $684,674
9 · Prepaid expenses and deferred charges

beginning of year $84,821 · end of year $65,633
10a · Land, buildings and equipment: cost or other basis

$17,834,492
10b · Land, buildings and equipment: accumulated depreciation

$11,065,436
10c · Land, buildings and equipment, net

beginning of year $4,761,170 · end of year $6,769,056
12 · Investments: other securities

beginning of year $4,904,710 · end of year $5,052,163
14 · Intangible assets

beginning of year $11,196 · end of year $11,196
15 · Other assets

beginning of year $1,828 · end of year $105,011
17 · Accounts payable and accrued expenses

beginning of year $249,794 · end of year $410,255
23 · Secured mortgages and notes payable

beginning of year $3,537,525 · end of year $9,485,360
25 · Other liabilities

beginning of year $1,931 · end of year $1,711
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 $4,266,687 · end of year $4,664,301
31 · Retained earnings, endowment or other funds

beginning of year $3,395,614 · end of year $3,662,035

Mission and programs · 2022

Mission

PROVIDE OUR CUSTOMERS WITH QUALITY COMMUNICATION SERVICES AT AFFORDABLE PRICES.

ECTC PROVIDES COMMUNICATION PRODUCTS AND SERVICES TO OUR MEMBERS.

As filed on the 2022 return.

Listed in Part VII

Norman HawleyNORMAN HAWLEY

PRESIDENT

Total calculated

$4,250

From this org

$4,250

From related orgs

$0

Other

$0

Hours/week

1
Phil YetzerPHIL YETZER

VICE PRESIDENT

Total calculated

$4,400

From this org

$4,400

From related orgs

$0

Other

$0

Hours/week

1
Kathy HacheyKATHY HACHEY

SECRETARY/TREASURER

Total calculated

$5,700

From this org

$5,700

From related orgs

$0

Other

$0

Hours/week

1
Kenneth J Hersey JrKENNETH J HERSEY JR

DIRECTOR

Total calculated

$3,800

From this org

$3,800

From related orgs

$0

Other

$0

Hours/week

1
Chad GenzCHAD GENZ

DIRECTOR

Total calculated

$2,800

From this org

$2,800

From related orgs

$0

Other

$0

Hours/week

1
Josh NetlandJOSH NETLAND

GENERAL MANAGER

Total calculated

$254,955

From this org

$204,551

From related orgs

$0

Other

$50,404

Hours/week

40

Schedule J breakdown matched by us

Base

$204,551

Bonus

$0

Other

$0

Deferred

$17,406

Nontaxable benefits

$32,998

Filer's total

$254,955

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

1a · Travel for companions
3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
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 1A: THE BENEFIT IS OCCASIONALLY PROVIDED AND MAY NOT HAVE BEEN INCLUDED IN COMPENSATION.

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.

TRI-CO TECHNOLOGIES LLC

INVESTMENT · TELEPHONE COMMUNICATIONS · MN · 33.33% owned · share of income $477,110 · share of assets $2,786,362 · general or managing partner

Directly controlled by EMILY TECHNOLOGIES LLC
ZENERGY LLC

INVESTMENT · ALTERNATIVE ENERGY EQUIPMENT · MN · 21% owned · share of income $119,147 · share of assets $590,504

Directly controlled by EMILY TECHNOLOGIES LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

EMILY TECHNOLOGIES LLC

C · TELECOMMUNICATIONS · MN · 100% owned · share of income $604,521 · share of assets $3,268,062

Provenance

Return type: form_990
Tax year: 2022
Filed: 14 November 2023
IRS schema version: 2022v5.0
Source object: 202333199349305628

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