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Nonprofiteer
← DOUGLAS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by DOUGLAS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$3,345,818
Total expenses
$3,345,818
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,338,150
Investment income
$7,668
Other revenue
$0
Total assets, end of year
$9,362,059
Total liabilities, end of year
$5,860,763
Net assets or fund balances, end of year
$3,501,296
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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: Electricity sales

    total $3,100,534 · related or exempt $3,100,534 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Electric material & service sales

    total $11,857 · related or exempt $11,857 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: G & T Allocations

    total $225,759 · related or exempt $225,759 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $7,668 · related or exempt $7,668 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $320,290

  • 5 · Compensation of officers, directors and key employees

    total $178,615

  • 7 · Other salaries and wages

    total $468,060

  • 8 · Pension plan contributions

    total $140,065

  • 9 · Other employee benefits

    total $139,634

  • 10 · Payroll taxes

    total $43,628

  • 11b · Fees: legal

    total $1,353

  • 11c · Fees: accounting

    total $9,471

  • 16 · Occupancy

    total $2,304

  • 19 · Conferences, conventions and meetings

    total $22,384

  • 20 · Interest

    total $161,046

  • 22 · Depreciation, depletion and amortization

    total $239,230

  • 24a · Other expenses: Cost of Power

    total $1,530,472

  • 24b · Other expenses: Other power line expense

    total $89,266

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $794 · end of year $217

  • 2 · Savings and temporary cash investments

    beginning of year $129,661 · end of year $167,448

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $345,290 · end of year $369,812

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $126,396 · end of year $151,377

  • 9 · Prepaid expenses and deferred charges

    beginning of year $58,154 · end of year $25,754

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

    $9,664,594

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

    $3,133,231

  • 10c · Land, buildings and equipment, net

    beginning of year $6,408,110 · end of year $6,531,363

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $1,975,062 · end of year $2,104,589

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $40,749 · end of year $11,499

  • 17 · Accounts payable and accrued expenses

    beginning of year $252,472 · end of year $322,087

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $5,473,085 · end of year $5,525,620

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $8,664 · end of year $13,056

  • 29 · Capital stock, trust principal or current funds

    beginning of year $4,735 · end of year $4,795

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,345,260 · end of year $3,496,501

Mission and programs · 2022

Mission

Dedicated to provide safe, low cost, reliable electricity to all our members.

  • Douglas Electric has purchased and delivered electricity to 825 rural electric services for 612 rural electric cooperative members in Douglas County, South Dakota.

As filed on the 2022 return.

Listed in Part VII

  • Jay Spaans

    Manager

    Total calculated
    $147,690
    From this org
    $96,072
    From related orgs
    $0
    Other
    $51,618
    Hours/week
    40

  • Larry Vander Ley

    Vice President

    Total calculated
    $7,875
    From this org
    $7,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Wayne Lefers

    President

    Total calculated
    $7,475
    From this org
    $7,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • David Neugebauer

    Secretary/Treasurer

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

  • Joel Baier

    Director

    Total calculated
    $4,275
    From this org
    $4,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ervin Fink

    Director

    Total calculated
    $3,850
    From this org
    $3,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Blake Ligtenberg

    Director

    Total calculated
    $1,250
    From this org
    $1,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
22 March 2023
IRS schema version
2022v5.0
Source object
202320819349301407

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