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Nonprofiteer
← LAKE REGION ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by LAKE REGION ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$74,447,210
Total expenses
$74,447,210
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$58,477,272
Investment income
$716,909
Other revenue
$15,253,029
Total assets, end of year
$274,914,956
Total liabilities, end of year
$214,838,579
Net assets or fund balances, end of year
$60,076,377
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.

Listed in Part VII

  • LEISA WALKER

    DIRECTOR OF

    Total calculated
    $555,776
    From this org
    $233,237
    From related orgs
    $0
    Other
    $322,539
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $230,137
    Bonus
    $1,000
    Other
    $2,100
    Deferred
    $293,784
    Nontaxable benefits
    $28,755
    Filer's total
    $555,776

  • JOHN LEE

    CEO

    Total calculated
    $389,371
    From this org
    $264,143
    From related orgs
    $0
    Other
    $125,228
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $255,840
    Bonus
    not reported
    Other
    $8,303
    Deferred
    $96,473
    Nontaxable benefits
    $28,755
    Filer's total
    $389,371

  • WENDELL WELCH

    SR DIR IT &

    Total calculated
    $322,266
    From this org
    $235,470
    From related orgs
    $0
    Other
    $86,796
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,902
    Bonus
    $541
    Other
    $5,027
    Deferred
    $58,041
    Nontaxable benefits
    $28,755
    Filer's total
    $322,266

  • LOGAN PLEASANT

    DIR OF OPERA

    Total calculated
    $316,670
    From this org
    $236,420
    From related orgs
    $0
    Other
    $80,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,903
    Bonus
    $717
    Other
    $5,800
    Deferred
    $51,495
    Nontaxable benefits
    $28,755
    Filer's total
    $316,670

  • BEN MCCOLLUM

    DIR FINANCE

    Total calculated
    $291,883
    From this org
    $145,306
    From related orgs
    $0
    Other
    $146,577
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,158
    Bonus
    not reported
    Other
    $2,148
    Deferred
    $127,407
    Nontaxable benefits
    $19,170
    Filer's total
    $291,883

  • FRANK TEAGUE

    LINEMAN

    Total calculated
    $246,445
    From this org
    $176,140
    From related orgs
    $0
    Other
    $70,305
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,682
    Bonus
    $1,000
    Other
    $458
    Deferred
    $41,550
    Nontaxable benefits
    $28,755
    Filer's total
    $246,445

  • RANDALL SCOTT

    LINEMAN

    Total calculated
    $220,964
    From this org
    $176,473
    From related orgs
    $0
    Other
    $44,491
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,295
    Bonus
    $879
    Other
    $299
    Deferred
    $31,921
    Nontaxable benefits
    $12,570
    Filer's total
    $220,964

  • LAYNE MARSHALL

    LINEMAN

    Total calculated
    $206,867
    From this org
    $182,576
    From related orgs
    $0
    Other
    $24,291
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,195
    Bonus
    $250
    Other
    $131
    Deferred
    $11,721
    Nontaxable benefits
    $12,570
    Filer's total
    $206,867

  • HAMID VAHDATIPOUR

    INTERIM CEO

    Total calculated
    $76,894
    From this org
    $62,574
    From related orgs
    $0
    Other
    $14,320
    Hours/week
    40

  • JAMES MANES

    PRESIDENT

    Total calculated
    $60,755
    From this org
    $60,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • JAMES WALLS

    DIRECTOR

    Total calculated
    $54,355
    From this org
    $54,355
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • RANDALL SHANKLE

    SECRETARY/TR

    Total calculated
    $50,355
    From this org
    $50,355
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • GARY COOPER

    DIRECTOR

    Total calculated
    $48,755
    From this org
    $48,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • LYNN LAMONS

    VICE PRESIDE

    Total calculated
    $38,970
    From this org
    $38,970
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • DIANNE MAYFIELD

    DIRECTOR

    Total calculated
    $36,570
    From this org
    $36,570
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • JACK TEAGUE

    ASST. SEC/TR

    Total calculated
    $30,170
    From this org
    $30,170
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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

The filer's explanations (Part III)

SCHEDULE J, PART III
EMPLOYEE NAME: JOHN LEE ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 77,241 EMPLOYER CONTRIBUTION TO 401(K) PLAN 19,232 TOTAL REPORTED IN COLUMN C 96,473 LESS: ACTUARIAL INCREASE 77,241 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,058 EXPENSE TO COOPERATIVE 58,290 EMPLOYEE NAME: BEN MCCOLLUM ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 114,659 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,748 TOTAL REPORTED IN COLUMN C 127,407 LESS: ACTUARIAL INCREASE 114,659 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,974 EXPENSE TO COOPERATIVE 36,722 EMPLOYEE NAME: LOGAN PLEASANT ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 30,745 EMPLOYER CONTRIBUTION TO 401(K) PLAN 20,750 TOTAL REPORTED IN COLUMN C 51,495 LESS: ACTUARIAL INCREASE 30,745 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,961 EXPENSE TO COOPERATIVE 56,711 EMPLOYEE NAME: WENDELL WELCH ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 38,880 EMPLOYER CONTRIBUTION TO 401(K) PLAN 19,161 TOTAL REPORTED IN COLUMN C 58,041 LESS: ACTUARIAL INCREASE 38,880 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,960 EXPENSE TO COOPERATIVE 55,121 EMPLOYEE NAME: LAYNE MARSHALL ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 3,405 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,316 TOTAL REPORTED IN COLUMN C 11,721 LESS: ACTUARIAL INCREASE 3,405 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,650 EXPENSE TO COOPERATIVE 22,966 EMPLOYEE NAME: LEISA WALKER ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 273,034 EMPLOYER CONTRIBUTION TO 401(K) PLAN 20,750 TOTAL REPORTED IN COLUMN C 293,784 LESS: ACTUARIAL INCREASE 273,034 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,961 EXPENSE TO COOPERATIVE 56,711 EMPLOYEE NAME: RANDALL SCOTT ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 22,146 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,775 TOTAL REPORTED IN COLUMN C 31,921 LESS: ACTUARIAL INCREASE 22,146 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,992 EXPENSE TO COOPERATIVE 26,767 EMPLOYEE NAME: FRANK TEAGUE ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 31,933 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,617 TOTAL REPORTED IN COLUMN C 41,550 LESS: ACTUARIAL INCREASE 31,933 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,992 EXPENSE TO COOPERATIVE 26,609

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
30 June 2025
IRS schema version
2024v5.0
Source object
202542259349301339

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

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