Totals
- Total revenue
- $27,659,641
- Total expenses
- $25,334,957
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $27,308,850
- Investment income
- $14,600
- Other revenue
- $336,191
- Total assets, end of year
- $62,870,380
- Total liabilities, end of year
- $36,720,117
- Net assets or fund balances, end of year
- $26,150,263
- 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 SALES TO MEMBERS
total $25,511,627 · related or exempt $25,511,627
-
2b · Program service revenue: CAPITAL CREDITS
total $1,640,037 · related or exempt $1,640,037
-
2c · Program service revenue: OTHER OPERATING
total $157,186 · related or exempt $157,186
-
3 · Investment income
total $14,600 · excluded $14,600
-
10a · Gross sales of inventory
$1,433,246
-
10b · Cost of goods sold
$1,097,055
-
10c · Net income from sales of inventory
total $336,191 · related or exempt $336,191
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $673,271
-
5 · Compensation of officers, directors and key employees
total $329,286
-
7 · Other salaries and wages
total $2,077,809
-
8 · Pension plan contributions
total $627,506
-
9 · Other employee benefits
total $518,501
-
10 · Payroll taxes
total $162,096
-
20 · Interest
total $1,263,572
-
22 · Depreciation, depletion and amortization
total $1,985,078
-
24a · Other expenses: COGS
total $17,540,043
-
24b · Other expenses: SELLING, GENERAL, ADMIN
total $2,777,277
-
24c · Other expenses: DISTRIBUTIONS MAINTENANCE
total $620,917
-
24d · Other expenses: DISTRIBUTIONS OPERATIONS
total $474,799
-
24e · All other expenses
total -$3,715,198
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $2,345,640 · end of year $1,253,026
-
4 · Accounts receivable
beginning of year $2,037,284 · end of year $2,578,775
-
7 · Other notes and loans receivable
beginning of year $649,972 · end of year $549,964
-
8 · Inventories for sale or use
beginning of year $1,219,324 · end of year $1,310,995
-
9 · Prepaid expenses and deferred charges
beginning of year $982,072 · end of year $862,144
-
10a · Land, buildings and equipment: cost or other basis
$57,222,369
-
10b · Land, buildings and equipment: accumulated depreciation
$17,896,844
-
10c · Land, buildings and equipment, net
beginning of year $37,938,386 · end of year $39,325,525
-
13 · Investments: program-related
beginning of year $15,519,477 · end of year $16,989,951
-
17 · Accounts payable and accrued expenses
beginning of year $2,403,218 · end of year $2,493,622
-
23 · Secured mortgages and notes payable
beginning of year $31,317,752 · end of year $31,194,142
-
25 · Other liabilities
beginning of year $3,225,322 · end of year $3,032,353
-
31 · Retained earnings, endowment or other funds
beginning of year $23,745,863 · end of year $26,150,263
Mission and programs · 2023
Mission
SERVICE FOR YOUR WAY OF LIFE
-
PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2280 MEMBERS. WE ADDED 20 MILES OF UNDERGROUND AND REMOVED 11 MILES OF OVERHEAD LINE AND BUILT 35 NEW SERVICES.
As filed on the 2023 return.
Listed in Part VII
-
Chad FeldermanCHAD FELDERMAN
GENERAL MANA
- Total calculated
- $286,041
- From this org
- $161,033
- From related orgs
- $0
- Other
- $125,008
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,033
- Bonus
- not reported
- Other
- not reported
- Deferred
- $57,249
- Nontaxable benefits
- $67,759
- Filer's total
- $286,041
-
Mike MoncurMIKE MONCUR
MANAGER OF F
- Total calculated
- $215,691
- From this org
- $128,577
- From related orgs
- $0
- Other
- $87,114
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $128,577
- Bonus
- not reported
- Other
- not reported
- Deferred
- $43,779
- Nontaxable benefits
- $43,335
- Filer's total
- $215,691
-
Matt ZomerMATT ZOMER
MANAGER OF O
- Total calculated
- $215,437
- From this org
- $101,083
- From related orgs
- $0
- Other
- $114,354
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $101,083
- Bonus
- not reported
- Other
- not reported
- Deferred
- $36,669
- Nontaxable benefits
- $77,685
- Filer's total
- $215,437
-
Chase BingerCHASE BINGER
DIRECTOR
- Total calculated
- $10,907
- From this org
- $10,907
- From related orgs
- $0
- Other
- $0
- Hours/week
- 22.2
-
Nick NemecNICK NEMEC
VICE PRESIDE
- Total calculated
- $10,832
- From this org
- $10,832
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.8
-
Darrell RasckeDARRELL RASCKE
PRESIDENT
- Total calculated
- $10,438
- From this org
- $10,438
- From related orgs
- $0
- Other
- $0
- Hours/week
- 11.9
-
Tommy BaruthTOMMY BARUTH
SECRETARY
- Total calculated
- $10,432
- From this org
- $10,432
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.6
-
Todd BushongTODD BUSHONG
DIRECTOR
- Total calculated
- $8,032
- From this org
- $8,032
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.9
-
Bruce MicheelBRUCE MICHEEL
DIRECTOR
- Total calculated
- $6,822
- From this org
- $6,822
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.9
-
Chad DearbornCHAD DEARBORN
DIRECTOR
- Total calculated
- $6,632
- From this org
- $6,632
- From related orgs
- $0
- Other
- $0
- Hours/week
- 11.1
-
Neil DuxburyNEIL DUXBURY
DIRECTOR
- Total calculated
- $4,822
- From this org
- $4,822
- From related orgs
- $0
- Other
- $0
- Hours/week
- 7.6
-
Steve PetersonSTEVE PETERSON
DIRECTOR
- Total calculated
- $4,822
- From this org
- $4,822
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.1
-
Brian BaumBRIAN BAUM
DIRECTOR
- Total calculated
- $3,411
- From this org
- $3,411
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.7
-
Brian BonebrightBRIAN BONEBRIGHT
TREASURER
- Total calculated
- $3,211
- From this org
- $3,211
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1.1
-
Doug SchaefersDOUG SCHAEFERS
DIRECTOR
- Total calculated
- $2,811
- From this org
- $2,811
- From related orgs
- $0
- Other
- $0
- Hours/week
- 0.7
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 · Independent compensation consultant
- 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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 October 2024
- IRS schema version
- 2023v5.0
- Source object
- 202412889349301116
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