Form 990 for tax year 2023

Filed by EMILY COOPERATIVE TELEPHONE COMPANY.

Totals

Total revenue: $4,462,519
Total expenses: $4,353,777
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $4,318,969
Investment income: $110,560
Other revenue: $32,990
Total assets, end of year: $18,171,877
Total liabilities, end of year: $9,359,027
Net assets or fund balances, end of year: $8,812,850
Program services expenses (Part IX): not reported
Management and general expenses: not reported
Fundraising expenses: not reported
Program service expenses (Part III): not reported

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: TELEPHONE & CATV SERVI

total $4,214,121 · related or exempt $4,214,121
2b · Program service revenue: PARTNERSHIP INCOME

total $88,158 · related or exempt $88,158
2c · Program service revenue: ADVERTISING INCOME

total $16,690 · unrelated business $16,690
3 · Investment income

total $124,497 · excluded $124,497
6a · Gross rents

real property $32,990
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $32,990
6d · Net rental income or loss

total $32,990 · related or exempt $32,990
7a · Gross sales of assets other than inventory

securities $261,155 · other assets $3,500
7b · Less cost or other basis and sales expenses

securities $278,592 · other assets $0
7c · Gain or loss

securities -$17,437 · other assets $3,500
7d · Net gain or loss

total -$13,937 · related or exempt $3,500 · excluded -$17,437

Functional expenses

Part IX, the statement of functional expenses.

4 · Benefits paid to or for members

total $54,969
5 · Compensation of officers, directors and key employees

total $292,421
8 · Pension plan contributions

total $213,344
11c · Fees: accounting

total $211,824
12 · Advertising and promotion

total $70,026
16 · Occupancy

total $1,075,735
20 · Interest

total $374,132
22 · Depreciation, depletion and amortization

total $803,735
24a · Other expenses: REPAIRS & MAINTENANCE

total $357,816
24b · Other expenses: CORPORATE OPERATIONS

total $339,882
24c · Other expenses: NONREGULATED ACTIVITY E

total $286,788
24d · Other expenses: CUSTOMER OPERATIONS

total $183,394
24e · All other expenses

total $89,711

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $4,975,511 · end of year $171,053
2 · Savings and temporary cash investments

beginning of year $79,102 · end of year $21,761
4 · Accounts receivable

beginning of year $481,316 · end of year $205,891
8 · Inventories for sale or use

beginning of year $684,674 · end of year $787,834
9 · Prepaid expenses and deferred charges

beginning of year $65,633 · end of year $70,029
10a · Land, buildings and equipment: cost or other basis

$21,415,926
10b · Land, buildings and equipment: accumulated depreciation

$10,552,919
10c · Land, buildings and equipment, net

beginning of year $6,769,056 · end of year $10,863,007
12 · Investments: other securities

beginning of year $5,052,163 · end of year $5,736,887
14 · Intangible assets

beginning of year $11,196 · end of year $11,196
15 · Other assets

beginning of year $105,011 · end of year $304,219
17 · Accounts payable and accrued expenses

beginning of year $410,255 · end of year $363,940
23 · Secured mortgages and notes payable

beginning of year $9,485,360 · end of year $8,970,371
25 · Other liabilities

beginning of year $1,711 · end of year $24,716
29 · Capital stock, trust principal or current funds

beginning of year $0 · end of year $0
30 · Paid-in or capital surplus, or land, building or equipment fund

beginning of year $4,664,301 · end of year $5,058,341
31 · Retained earnings, endowment or other funds

beginning of year $3,662,035 · end of year $3,754,509

Mission and programs · 2023

Mission

OUR PURPOSE IS TO CREATE VALUE FOR OUR MEMBER OWNERS BY PROVIDING LOCAL, AFFORDABLE, RELIABLE COMMUNICATIONS, ENTERTAINMENT AND SECURITY AS THEY CONNECT WITH FAMILY AND THE OUTSIDE WORLD.

ECTC PROVIDES COMMUNICATION PRODUCTS AND SERVICES TO OUR MEMBERS.

As filed on the 2023 return.

Listed in Part VII

Norman HawleyNORMAN HAWLEY

PRESIDENT

Total calculated

$6,600

From this org

$6,600

From related orgs

$0

Other

$0

Hours/week

1
Phil YetzerPHIL YETZER

VICE PRESIDENT

Total calculated

$4,400

From this org

$4,400

From related orgs

$0

Other

$0

Hours/week

1
Kathy HacheyKATHY HACHEY

SECRETARY/TREASURER

Total calculated

$5,175

From this org

$5,175

From related orgs

$0

Other

$0

Hours/week

1
Kenneth J Hersey JrKENNETH J HERSEY JR

DIRECTOR

Total calculated

$3,000

From this org

$3,000

From related orgs

$0

Other

$0

Hours/week

1
Chad GenzCHAD GENZ

DIRECTOR

Total calculated

$2,800

From this org

$2,800

From related orgs

$0

Other

$0

Hours/week

1
Josh NetlandJOSH NETLAND

GENERAL MANAGER

Total calculated

$270,446

From this org

$223,221

From related orgs

$0

Other

$47,225

Hours/week

40

Schedule J breakdown matched by us

Base

$223,221

Bonus

$0

Other

$0

Deferred

$17,329

Nontaxable benefits

$29,896

Filer's total

$270,446

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
3 · Compensation survey or study
3 · Approval by the board or compensation committee

Answered no

1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A: THE BENEFIT IS OCCASIONALLY PROVIDED AND MAY NOT HAVE BEEN INCLUDED IN COMPENSATION.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

TRI-CO TECHNOLOGIES LLC

INVESTMENT · TELEPHONE COMMUNICATIONS · MN · 33.33% owned · share of income $226,537 · share of assets $2,689,068 · general or managing partner

Directly controlled by EMILY TECHNOLOGIES LLC
ZENERGY LLC

INVESTMENT · ALTERNATIVE ENERGY EQUIPMENT · MN · 21% owned · share of income $4,605 · share of assets $596,399

Directly controlled by EMILY TECHNOLOGIES LLC

Related corporations and trusts

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

EMILY TECHNOLOGIES LLC

C · TELECOMMUNICATIONS · MN · 100% owned · share of income $313,933 · share of assets $3,780,542

Provenance

Return type: form_990
Tax year: 2023
Filed: 15 October 2024
IRS schema version: 2023v5.1
Source object: 202402969349300715

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