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Nonprofiteer
← HEARTLAND RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by HEARTLAND RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$27,938,425
Total expenses
$27,938,425
Contributions and grants received
$0
Grants paid
$21,544
Program service revenue
$27,093,223
Investment income
$96,933
Other revenue
$748,269
Total assets, end of year
$71,044,104
Total liabilities, end of year
$41,867,684
Net assets or fund balances, end of year
$29,176,420
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 REVENUE

    total $26,828,712 · related or exempt $26,828,712

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $264,511 · related or exempt $264,511

  • 3 · Investment income

    total $77,338 · excluded $77,338

  • 6a · Gross rents

    real property $21,049

  • 6c · Rental income or loss

    real property $21,049

  • 6d · Net rental income or loss

    total $21,049 · excluded $21,049

  • 7a · Gross sales of assets other than inventory

    other assets $25,595

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

    other assets $6,000

  • 7c · Gain or loss

    other assets $19,595

  • 7d · Net gain or loss

    total $19,595 · excluded $19,595

  • 11a · Other revenue: INCOME FROM SUBSIDIARY

    total $687,052 · related or exempt $687,052

  • 11b · Other revenue: NON OPERATING REVENUE

    total $21,992 · related or exempt $21,992

  • 11c · Other revenue: RELATED REVENUE

    total $18,176 · related or exempt $18,176

  • 11e · Other revenue, total

    $727,220

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $21,544

  • 4 · Benefits paid to or for members

    total $1,680,566

  • 5 · Compensation of officers, directors and key employees

    total $407,347

  • 7 · Other salaries and wages

    total $758,894

  • 20 · Interest

    total $1,121,863

  • 22 · Depreciation, depletion and amortization

    total $2,476,104

  • 24a · Other expenses: COST OF POWER

    total $16,049,744

  • 24b · Other expenses: DISTRIBUTION

    total $3,248,858

  • 24c · Other expenses: GENERAL & ADMINISTRATIVE

    total $798,865

  • 24d · Other expenses: TAXES

    total $788,547

  • 24e · All other expenses

    total $586,093

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,073,068 · end of year $2,025,999

  • 4 · Accounts receivable

    beginning of year $2,139,201 · end of year $2,695,544

  • 8 · Inventories for sale or use

    beginning of year $96,996 · end of year $128,873

  • 9 · Prepaid expenses and deferred charges

    beginning of year $844,721 · end of year $1,604,769

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

    $82,989,405

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

    $32,544,107

  • 10c · Land, buildings and equipment, net

    beginning of year $47,977,600 · end of year $50,445,298

  • 13 · Investments: program-related

    beginning of year $13,323,219 · end of year $14,143,621

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,135,353 · end of year $2,544,281

  • 19 · Deferred revenue

    beginning of year $1,319,680 · end of year $1,050,000

  • 23 · Secured mortgages and notes payable

    beginning of year $35,284,986 · end of year $37,513,302

  • 25 · Other liabilities

    beginning of year $519,841 · end of year $760,101

  • 29 · Capital stock, trust principal or current funds

    beginning of year $42,190 · end of year $42,230

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

    beginning of year $4,309,427 · end of year $5,285,537

  • 31 · Retained earnings, endowment or other funds

    beginning of year $23,843,328 · end of year $23,848,653

Mission and programs · 2022

Mission

TO MEET OUR MEMBERS' NEEDS AND EXPECTATIONS FOR RELIABLE ELECTRICITY, SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT REASONABLE PRICES.

  • TO PROVIDE ELECTRICITY TO OUR MEMBERS - 11,961 ACTIVE SERVICES AT YEAR-END WERE PROVIDED ELECTRICITY ON A COOPERATIVE BASIS AND WERE ALLOCATED PATRONAGE CAPITAL.

As filed on the 2022 return.

Listed in Part VII

  • Mark Scheibe

    CEO

    Total calculated
    $343,994
    From this org
    $236,786
    From related orgs
    $0
    Other
    $107,208
    Hours/week
    61

    Schedule J breakdown matched by us

    Base
    $234,059
    Bonus
    not reported
    Other
    $2,727
    Deferred
    $82,433
    Nontaxable benefits
    $24,775
    Filer's total
    $343,994

  • Anthony Washington

    ELEC SYSTEM

    Total calculated
    $229,116
    From this org
    $119,529
    From related orgs
    $0
    Other
    $109,587
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $117,718
    Bonus
    not reported
    Other
    $1,811
    Deferred
    $81,356
    Nontaxable benefits
    $28,231
    Filer's total
    $229,116

  • Dan Avery

    OPERATIONS M

    Total calculated
    $206,063
    From this org
    $125,900
    From related orgs
    $0
    Other
    $80,163
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $125,043
    Bonus
    not reported
    Other
    $857
    Deferred
    $54,327
    Nontaxable benefits
    $25,836
    Filer's total
    $206,063

  • Justin Weimer

    IT MANAGER

    Total calculated
    $166,553
    From this org
    $112,170
    From related orgs
    $0
    Other
    $54,383
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $111,931
    Bonus
    not reported
    Other
    $239
    Deferred
    $28,730
    Nontaxable benefits
    $25,653
    Filer's total
    $166,553

  • Faith Warden

    DIR OF FIN A

    Total calculated
    $157,163
    From this org
    $113,981
    From related orgs
    $0
    Other
    $43,182
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $113,617
    Bonus
    not reported
    Other
    $364
    Deferred
    $23,275
    Nontaxable benefits
    $19,907
    Filer's total
    $157,163

  • Steve McFarland

    DIRECTOR

    Total calculated
    $11,829
    From this org
    $11,629
    From related orgs
    $200
    Other
    $0
    Hours/week
    3

  • Larry Lindberg

    DIRECTOR

    Total calculated
    $9,022
    From this org
    $8,822
    From related orgs
    $200
    Other
    $0
    Hours/week
    2

  • Ronald Taylor

    DIRECTOR

    Total calculated
    $9,022
    From this org
    $8,822
    From related orgs
    $200
    Other
    $0
    Hours/week
    3

  • Lavonna Stainbrook

    DIRECTOR

    Total calculated
    $8,621
    From this org
    $8,421
    From related orgs
    $200
    Other
    $0
    Hours/week
    3

  • Hh Stockerbrand

    DIRECTOR

    Total calculated
    $8,621
    From this org
    $8,421
    From related orgs
    $200
    Other
    $0
    Hours/week
    3

  • Ernie Troth

    DIRECTOR

    Total calculated
    $6,215
    From this org
    $6,015
    From related orgs
    $200
    Other
    $0
    Hours/week
    3

  • Dean Davied

    DIRECTOR

    Total calculated
    $5,012
    From this org
    $4,812
    From related orgs
    $200
    Other
    $0
    Hours/week
    1

  • Tyler Jackman

    DIRECTOR

    Total calculated
    $3,809
    From this org
    $3,609
    From related orgs
    $200
    Other
    $0
    Hours/week
    1

  • Donald Davied

    DIRECTOR

    Total calculated
    $1,203
    From this org
    $1,203
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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.

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 corporations and trusts

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

  • HEARTLAND ENERGY INC

    C CORP · LPG DISTR · KS · 100% owned · share of income $2,085,968 · share of assets $4,923,144

    Directly controlled by HEARTLAND

Provenance

Return type
form_990
Tax year
2022
Filed
1 November 2023
IRS schema version
2022v5.0
Source object
202303139349302855

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