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Nonprofiteer
← CITIZENS ELECTRIC CORPORATION

Form 990 for tax year 2023

Filed by CITIZENS ELECTRIC CORPORATION.

Totals

Total revenue
$140,040,021
Total expenses
$132,807,137
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$136,940,727
Investment income
$3,077,354
Other revenue
$21,940
Total assets, end of year
$189,554,520
Total liabilities, end of year
$67,637,423
Net assets or fund balances, end of year
$121,917,097
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: Program Revenue

    total $136,940,727 · related or exempt $136,940,727 · 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 $3,077,354 · related or exempt $3,077,354 · 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

  • 6a · Gross rents

    real property $122,608 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $122,608 · personal property $0

  • 6d · Net rental income or loss

    total $122,608 · related or exempt $122,608 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

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

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

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

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

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

  • 11a · Other revenue: Merchandise & Jobbing

    total $9,400 · related or exempt $9,400 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Other Comprehensive Income

    total -$110,068 · related or exempt -$110,068 · unrelated business $0 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    -$100,668

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $1,098,489

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $3,590,207

  • 8 · Pension plan contributions

    total $1,457,442

  • 9 · Other employee benefits

    total $1,586,247

  • 10 · Payroll taxes

    total $557,043

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $1,497,708

  • 11c · Fees: accounting

    total $24,000

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $335,731

  • 12 · Advertising and promotion

    total $56,279

  • 13 · Office expenses

    total $660,903

  • 14 · Information technology

    total $995,340

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $457,908

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $81,846

  • 20 · Interest

    total $1,728,623

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $6,863,889

  • 23 · Insurance

    total $494,866

  • 24a · Other expenses: Purchase Power

    total $105,456,500

  • 24b · Other expenses: Operating & Maintenance

    total $2,277,330

  • 24c · Other expenses: Property Taxes

    total $2,058,849

  • 24d · Other expenses: Gross Receipts

    total $1,527,937

  • 24e · All other expenses

    total $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $15,324,295 · end of year $10,574,925

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $14,635,222 · end of year $12,563,498

  • 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 $4,608,048 · end of year $5,513,643

  • 9 · Prepaid expenses and deferred charges

    beginning of year $460,511 · end of year $117,280

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

    $203,371,481

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

    $77,720,317

  • 10c · Land, buildings and equipment, net

    beginning of year $123,070,616 · end of year $125,651,164

  • 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 $31,856,991 · end of year $34,600,733

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $282,751 · end of year $533,277

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,336,490 · end of year $9,536,693

  • 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 $52,730,224 · end of year $50,827,163

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $6,681,361 · end of year $7,273,567

  • 29 · Capital stock, trust principal or current funds

    beginning of year $83,785 · end of year $82,645

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

    beginning of year $15,059 · end of year $15,059

  • 31 · Retained earnings, endowment or other funds

    beginning of year $117,391,515 · end of year $121,819,393

Mission and programs · 2023

Mission

Sale of electric energy to the cooperative's members

Activities or mission (Part I)

Sale of electric energy to the cooperative's members.

  • Provide electric service to an average of 27,525 members with gross consumption of 1.649 billion kWh's.

As filed on the 2023 return.

Listed in Part VII

  • Jason D Cates

    CEO

    Total calculated
    $300,902
    From this org
    $226,806
    From related orgs
    $0
    Other
    $74,096
    Hours/week
    62

    Schedule J breakdown matched by us

    Base
    $226,806
    Bonus
    $0
    Other
    $0
    Deferred
    $53,001
    Nontaxable benefits
    $21,095
    Filer's total
    $300,902

  • Curt Iffert

    VP of Operations

    Total calculated
    $201,809
    From this org
    $136,750
    From related orgs
    $0
    Other
    $65,059
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $136,750
    Bonus
    $0
    Other
    $0
    Deferred
    $44,089
    Nontaxable benefits
    $20,970
    Filer's total
    $201,809

  • Kent Kassel

    Superintendent

    Total calculated
    $183,563
    From this org
    $123,726
    From related orgs
    $0
    Other
    $59,837
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $123,726
    Bonus
    $0
    Other
    $0
    Deferred
    $39,199
    Nontaxable benefits
    $20,639
    Filer's total
    $183,564

  • Steve Hlavek

    Engineering Supervisor

    Total calculated
    $180,815
    From this org
    $128,366
    From related orgs
    $0
    Other
    $52,449
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $128,366
    Bonus
    $0
    Other
    $0
    Deferred
    $31,779
    Nontaxable benefits
    $20,670
    Filer's total
    $180,815

  • Steven Rohan

    Lineman Tech

    Total calculated
    $174,978
    From this org
    $127,200
    From related orgs
    $0
    Other
    $47,778
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $127,200
    Bonus
    $0
    Other
    $0
    Deferred
    $27,663
    Nontaxable benefits
    $20,114
    Filer's total
    $174,977

  • Eric Besand

    Lineman Journeyman

    Total calculated
    $172,616
    From this org
    $124,588
    From related orgs
    $0
    Other
    $48,028
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $124,588
    Bonus
    $0
    Other
    $0
    Deferred
    $27,663
    Nontaxable benefits
    $20,365
    Filer's total
    $172,616

  • Rachel Tiehes

    Manager of Finance

    Total calculated
    $122,816
    From this org
    $94,603
    From related orgs
    $0
    Other
    $28,213
    Hours/week
    45

  • William Odneal

    President

    Total calculated
    $21,495
    From this org
    $21,150
    From related orgs
    $0
    Other
    $345
    Hours/week
    4.5

  • Mark Wengert

    Secretary

    Total calculated
    $14,745
    From this org
    $14,400
    From related orgs
    $0
    Other
    $345
    Hours/week
    4.23

  • Doyle Oehl

    Vice President

    Total calculated
    $13,995
    From this org
    $13,650
    From related orgs
    $0
    Other
    $345
    Hours/week
    3.14

  • Derek Miesner

    Treasurer

    Total calculated
    $13,695
    From this org
    $13,350
    From related orgs
    $0
    Other
    $345
    Hours/week
    3.46

  • Thomas Keim

    Director

    Total calculated
    $13,695
    From this org
    $13,350
    From related orgs
    $0
    Other
    $345
    Hours/week
    4.25

  • Donald Fulford

    Director

    Total calculated
    $13,245
    From this org
    $12,900
    From related orgs
    $0
    Other
    $345
    Hours/week
    3.15

  • Glen Weible

    Director

    Total calculated
    $12,495
    From this org
    $12,150
    From related orgs
    $0
    Other
    $345
    Hours/week
    3.9

  • Rodney Scherer

    Director

    Total calculated
    $12,495
    From this org
    $12,150
    From related orgs
    $0
    Other
    $345
    Hours/week
    5.99

  • Richard T DeWilde

    Director

    Total calculated
    $12,145
    From this org
    $11,800
    From related orgs
    $0
    Other
    $345
    Hours/week
    2.51

  • Rex Meyr

    Director

    Total calculated
    $11,895
    From this org
    $11,550
    From related orgs
    $0
    Other
    $345
    Hours/week
    2.09

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 · 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
19 April 2024
IRS schema version
2023v5.0
Source object
202431099349300213

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