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Nonprofiteer
← NORTHCENTRAL ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by NORTHCENTRAL ELECTRIC COOPERATIVE.

Totals

Total revenue
$151,735,196
Total expenses
$148,892,479
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$148,024,152
Investment income
$741,929
Other revenue
$2,969,115
Total assets, end of year
$295,152,965
Total liabilities, end of year
$170,122,640
Net assets or fund balances, end of year
$125,030,325
Program services expenses (Part IX)
$148,892,479
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$148,892,479

Program services were 100.0% 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 $146,811,729 · related or exempt $146,811,729

  • 2b · Program service revenue: LATE PAYMENT CHARGES

    total $779,589 · related or exempt $779,589

  • 2c · Program service revenue: SERVICE COLLECTION FEES

    total $377,155 · related or exempt $377,155

  • 2d · Program service revenue: MISCELLANEOUS SERVICE REVENUE

    total $38,412 · related or exempt $38,412

  • 2e · Program service revenue: EV CHARGING

    total $17,207 · related or exempt $17,207

  • 2f · All other program service revenue

    total $60 · related or exempt $60

  • 3 · Investment income

    total $741,929 · related or exempt $741,929

  • 6a · Gross rents

    personal property $708,482

  • 6c · Rental income or loss

    personal property $708,482

  • 6d · Net rental income or loss

    total $708,482 · excluded $708,482

  • 11a · Other revenue: FIBER LEASE

    total $2,260,633 · unrelated business $2,260,633

  • 11e · Other revenue, total

    $2,260,633

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $7,102,410 · program services $7,102,410

  • 8 · Pension plan contributions

    total $1,034,010 · program services $1,034,010

  • 20 · Interest

    total $6,681,537 · program services $6,681,537

  • 22 · Depreciation, depletion and amortization

    total $12,328,483 · program services $12,328,483

  • 24a · Other expenses: POWER COST

    total $105,482,489 · program services $105,482,489

  • 24b · Other expenses: DISTRIBUTION/MAINTENANCE

    total $8,704,813 · program services $8,704,813

  • 24c · Other expenses: DISTRIBUTION/OPERATING

    total $5,260,171 · program services $5,260,171

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $4,575,802 · program services $4,575,802

  • 24e · All other expenses

    total -$2,277,236 · program services -$2,277,236

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,282,289 · end of year $5,626,430

  • 4 · Accounts receivable

    beginning of year $17,527,918 · end of year $16,870,614

  • 8 · Inventories for sale or use

    beginning of year $2,281,370 · end of year $2,742,886

  • 9 · Prepaid expenses and deferred charges

    beginning of year $200,045 · end of year $250,532

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

    $337,407,878

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

    $82,024,652

  • 10c · Land, buildings and equipment, net

    beginning of year $228,744,204 · end of year $255,383,226

  • 12 · Investments: other securities

    beginning of year $5,769,497 · end of year $7,402,455

  • 15 · Other assets

    beginning of year $8,917,301 · end of year $6,876,822

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,594,505 · end of year $24,704,770

  • 23 · Secured mortgages and notes payable

    beginning of year $106,566,828 · end of year $130,826,517

  • 24 · Unsecured notes and loans payable

    beginning of year $6,000,000 · end of year $4,000,000

  • 25 · Other liabilities

    beginning of year $10,098,595 · end of year $10,591,353

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,478,462 · end of year $1,505,194

  • 31 · Retained earnings, endowment or other funds

    beginning of year $119,984,234 · end of year $123,525,131

Mission and programs · 2024

Mission

TO BRING SAFE, RELIABLE, AND AFFORDABLE POWER TO CUSTOMERS IN A COURTEOUS AND TIMELY MANNER.

  • TO PROVIDE ELECTRIC POWER SERVICE TO MEMBERS OF THE ASSOCIATION.

    Expenses $148,892,479 · Revenue $148,024,152

As filed on the 2024 return.

Listed in Part VII

  • William K Doddridge

    GENERAL MANA

    Total calculated
    $706,937
    From this org
    $585,542
    From related orgs
    $0
    Other
    $121,395
    Hours/week
    48 + 2 related

    Schedule J breakdown matched by us

    Base
    $585,542
    Bonus
    not reported
    Other
    not reported
    Deferred
    $121,395
    Nontaxable benefits
    not reported
    Filer's total
    $706,937

  • Mark Nichols

    DIRECTOR OF

    Total calculated
    $366,568
    From this org
    $289,840
    From related orgs
    $0
    Other
    $76,728
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $289,840
    Bonus
    not reported
    Other
    not reported
    Deferred
    $76,728
    Nontaxable benefits
    not reported
    Filer's total
    $366,568

  • Jonathan Cox

    DIRECTOR OF

    Total calculated
    $299,577
    From this org
    $222,072
    From related orgs
    $0
    Other
    $77,505
    Hours/week
    45 + 5 related

    Schedule J breakdown matched by us

    Base
    $222,072
    Bonus
    not reported
    Other
    not reported
    Deferred
    $77,505
    Nontaxable benefits
    not reported
    Filer's total
    $299,577

  • Larry Johnson

    DIRECTOR OF

    Total calculated
    $291,786
    From this org
    $217,983
    From related orgs
    $0
    Other
    $73,803
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $217,983
    Bonus
    not reported
    Other
    not reported
    Deferred
    $73,803
    Nontaxable benefits
    not reported
    Filer's total
    $291,786

  • Jake Bellipanni

    DIRECTOR OF

    Total calculated
    $286,182
    From this org
    $208,677
    From related orgs
    $0
    Other
    $77,505
    Hours/week
    30 + 20 related

    Schedule J breakdown matched by us

    Base
    $208,677
    Bonus
    not reported
    Other
    not reported
    Deferred
    $77,505
    Nontaxable benefits
    not reported
    Filer's total
    $286,182

  • Darin Farley

    DIRECTOR OF

    Total calculated
    $263,020
    From this org
    $196,533
    From related orgs
    $0
    Other
    $66,487
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $196,533
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,487
    Nontaxable benefits
    not reported
    Filer's total
    $263,020

  • Ricky Jones

    BOARD MEMBER

    Total calculated
    $27,800
    From this org
    $24,800
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    8.4

  • Tony Taylor

    BOARD MEMBER

    Total calculated
    $26,800
    From this org
    $23,800
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    9.21

  • Pat Woods

    PRESIDENT

    Total calculated
    $24,300
    From this org
    $21,300
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    5.13

  • Phil Lachaussee

    BOARD MEMBER

    Total calculated
    $22,300
    From this org
    $19,300
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    3.5

  • Don Dickerson

    SECRETARY

    Total calculated
    $21,800
    From this org
    $18,800
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    5.06

  • Julie Niblett

    BOARD MEMBER

    Total calculated
    $21,800
    From this org
    $18,800
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    3.76

  • Morris Thompson

    BOARD MEMBER

    Total calculated
    $21,800
    From this org
    $18,800
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    4.45

  • Jerry Nichols

    VICE PRESIDE

    Total calculated
    $19,300
    From this org
    $16,300
    From related orgs
    $3,000
    Other
    $0
    Hours/week
    2.73

  • Patrician Griffin

    BOARD MEMBER

    Total calculated
    $15,300
    From this org
    $13,050
    From related orgs
    $2,250
    Other
    $0
    Hours/week
    6.74

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 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.

  • NORTHCENTRAL CONNECT

    FIBER · MS

Provenance

Return type
form_990
Tax year
2024
Filed
4 November 2025
IRS schema version
2024v5.0
Source object
202533189349306748

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