Skip to content
Nonprofiteer
← MENARD ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by MENARD ELECTRIC COOPERATIVE.

Totals

Total revenue
$35,313,108
Total expenses
$35,313,108
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$35,237,805
Investment income
$48,971
Other revenue
$26,332
Total assets, end of year
$86,529,247
Total liabilities, end of year
$51,797,456
Net assets or fund balances, end of year
$34,731,791
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: Electric Services

    total $33,799,815 · related or exempt $33,799,815

  • 2b · Program service revenue: Capital Credits

    total $1,270,934 · related or exempt $1,270,934

  • 2c · Program service revenue: Other Miscellaneous

    total $167,056 · related or exempt $167,056

  • 3 · Investment income

    total $75,619 · excluded $75,619

  • 6a · Gross rents

    personal property $26,337

  • 6c · Rental income or loss

    personal property $26,337

  • 6d · Net rental income or loss

    total $26,337 · excluded $26,337

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

    other assets $26,648

  • 7c · Gain or loss

    other assets -$26,648

  • 7d · Net gain or loss

    total -$26,648 · related or exempt -$26,648

  • 11a · Other revenue: other

    total -$5 · related or exempt -$5

  • 11e · Other revenue, total

    -$5

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,598,289

  • 5 · Compensation of officers, directors and key employees

    total $506,836

  • 6 · Compensation of disqualified persons

    total $49,230

  • 7 · Other salaries and wages

    total $898,794

  • 20 · Interest

    total $1,476,074

  • 22 · Depreciation, depletion and amortization

    total $2,614,436

  • 24a · Other expenses: Cost of Power

    total $21,267,604 · program services $21,267,604

  • 24b · Other expenses: Distribution Cost

    total $4,431,282 · program services $4,431,282

  • 24c · Other expenses: Member Services

    total $608,155 · program services $608,155

  • 24d · Other expenses: Administrative and General

    total $783,674 · program services $783,674

  • 24e · All other expenses

    total $78,734

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,154 · end of year $1,154

  • 2 · Savings and temporary cash investments

    beginning of year $831,286 · end of year $716,859

  • 4 · Accounts receivable

    beginning of year $2,732,674 · end of year $2,835,557

  • 8 · Inventories for sale or use

    beginning of year $1,471,362 · end of year $1,680,228

  • 9 · Prepaid expenses and deferred charges

    beginning of year $203,395 · end of year $364,625

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

    $89,127,303

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

    $24,461,555

  • 10c · Land, buildings and equipment, net

    beginning of year $58,902,871 · end of year $64,665,748

  • 13 · Investments: program-related

    beginning of year $15,790,188 · end of year $16,265,076

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,860,136 · end of year $4,636,047

  • 19 · Deferred revenue

    beginning of year $929,744 · end of year $1,012,354

  • 23 · Secured mortgages and notes payable

    beginning of year $40,989,949 · end of year $44,458,803

  • 24 · Unsecured notes and loans payable

    beginning of year $373,181 · end of year $1,000,000

  • 25 · Other liabilities

    beginning of year $607,621 · end of year $690,252

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

    beginning of year $3,318,870 · end of year $3,497,622

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,853,429 · end of year $31,234,169

Mission and programs · 2023

Mission

TO PROVIDE RELIABLE ELECTRIC SERVICE AT A REASONABLE COST WITH CONCERN FOR THE SAFETY AND WELL-BEING OF THE MEMBERS, THE EMPLOYEES, AND THE COMMUNITIES OF THE COOPERATIVE.

  • Provide electric services to over 11,000 members in 8 counties in Central Illinois.

As filed on the 2023 return.

Listed in Part VII

  • Alisha Anker

    GENERAL MANAGER

    Total calculated
    $319,704
    From this org
    $225,386
    From related orgs
    $0
    Other
    $94,318
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $225,386
    Bonus
    not reported
    Other
    not reported
    Deferred
    $82,859
    Nontaxable benefits
    $11,459
    Filer's total
    $319,704

  • Patricia Michaels

    Director of Member Services

    Total calculated
    $220,049
    From this org
    $143,032
    From related orgs
    $0
    Other
    $77,017
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,032
    Bonus
    not reported
    Other
    not reported
    Deferred
    $75,648
    Nontaxable benefits
    $1,369
    Filer's total
    $220,049

  • Brady Smith

    Manager of Engineering

    Total calculated
    $175,357
    From this org
    $132,074
    From related orgs
    $0
    Other
    $43,283
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,074
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,489
    Nontaxable benefits
    $23,794
    Filer's total
    $175,357

  • Dalton Whitley

    Director of Operations

    Total calculated
    $173,436
    From this org
    $132,800
    From related orgs
    $0
    Other
    $40,636
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,800
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,250
    Nontaxable benefits
    $23,386
    Filer's total
    $173,436

  • Brandon Blair

    Area Serviceman

    Total calculated
    $169,875
    From this org
    $124,197
    From related orgs
    $0
    Other
    $45,678
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $124,197
    Bonus
    not reported
    Other
    not reported
    Deferred
    $22,124
    Nontaxable benefits
    $23,554
    Filer's total
    $169,875

  • Robert Hanner

    AREA SERVICEMAN

    Total calculated
    $160,077
    From this org
    $126,004
    From related orgs
    $0
    Other
    $34,073
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $126,004
    Bonus
    not reported
    Other
    not reported
    Deferred
    $32,580
    Nontaxable benefits
    $1,493
    Filer's total
    $160,077

  • Julie Atwater

    DIR ACCTG & FINANCE

    Total calculated
    $129,179
    From this org
    $90,568
    From related orgs
    $0
    Other
    $38,611
    Hours/week
    40

  • Michael E Patrick

    DIRECTOR

    Total calculated
    $9,717
    From this org
    $9,717
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.78

  • Warren D Goetsch

    DIRECTOR

    Total calculated
    $8,717
    From this org
    $8,717
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.79

  • Dennis M Ryan

    DIRECTOR

    Total calculated
    $7,217
    From this org
    $7,217
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.16

  • Gary Holloway

    DIRECTOR

    Total calculated
    $6,717
    From this org
    $6,717
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.37

  • Donald E McMillan

    DIRECTOR

    Total calculated
    $6,217
    From this org
    $6,217
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.58

  • Gary L Martin

    DIRECTOR

    Total calculated
    $5,967
    From this org
    $5,967
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.22

  • D Jay Frye

    DIRECTOR

    Total calculated
    $5,967
    From this org
    $5,967
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.32

  • Jodine L Tate

    DIRECTOR

    Total calculated
    $3,967
    From this org
    $3,967
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.87

  • Steve Worner

    DIRECTOR

    Total calculated
    $3,467
    From this org
    $3,467
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.21

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 · Discretionary spending account
  • 1b · Written policy on the line-1a expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Benefit information (Part I, line 1a)
Discretionary spending account Manager Anker receives $750 per month car allowance under a non-accountable plan, as agreed upon her contract. This amount is treated as taxable compensation
Listed persons compensation information (Part I, line 4)
Alisha Anker Nonqualified $22,500Patricia Michels Nonqualified $15,800

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
1 October 2024
IRS schema version
2023v5.1
Source object
202412989349300146

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.