Totals
- Total revenue
- $134,375,062
- Total expenses
- $133,311,610
- Contributions and grants received
- $0
- Grants paid
- $8,000
- Program service revenue
- $125,251,042
- Investment income
- $290,673
- Other revenue
- $8,833,347
- Total assets, end of year
- $400,689,871
- Total liabilities, end of year
- $293,301,555
- Net assets or fund balances, end of year
- $107,388,316
- 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: ELECTRIC REVENUE FROM MEMBERS
total $125,091,953 · related or exempt $125,091,953
-
2b · Program service revenue: POLE CONTACT FEES
total $159,089 · excluded $159,089
-
3 · Investment income
total $181,211 · excluded $181,211
-
6a · Gross rents
real property $163,176
-
6b · Less rental expenses
real property $113,540
-
6c · Rental income or loss
real property $49,636
-
6d · Net rental income or loss
total $49,636 · unrelated business $3,102 · excluded $46,534
-
7a · Gross sales of assets other than inventory
other assets $836,771
-
7b · Less cost or other basis and sales expenses
other assets $727,309
-
7c · Gain or loss
other assets $109,462
-
7d · Net gain or loss
total $109,462 · excluded $109,462
-
10a · Gross sales of inventory
$48,729
-
10b · Cost of goods sold
$42,829
-
10c · Net income from sales of inventory
total $5,900 · related or exempt $5,900
-
11a · Other revenue: CAPITAL CREDITS
total $4,314,688 · related or exempt $4,314,688
-
11b · Other revenue: RDOF FUNDING
total $2,774,706 · related or exempt $2,774,706
-
11c · Other revenue: BOOK INCOME OF SUBSIDIARY
total $1,063,452 · related or exempt $1,063,452
-
11d · All other revenue
total $624,965 · related or exempt $624,965
-
11e · Other revenue, total
$8,777,811
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $8,000
-
4 · Benefits paid to or for members
total $17,904,631
-
5 · Compensation of officers, directors and key employees
total $2,129,763
-
7 · Other salaries and wages
total $190,345
-
8 · Pension plan contributions
total $391,144
-
9 · Other employee benefits
total $320,458
-
11b · Fees: legal
total $186,788
-
11c · Fees: accounting
total $97,990
-
20 · Interest
total $6,542,528
-
22 · Depreciation, depletion and amortization
total $13,233,365
-
24a · Other expenses: COST OF POWER
total $52,337,545
-
24b · Other expenses: DISTRIBUTIONS- MAINTENA
total $17,237,195
-
24c · Other expenses: ADMINISTRATION & GENERA
total $12,732,030
-
24d · Other expenses: CUSTOMER ACCOUNTS
total $5,026,325
-
24e · All other expenses
total $4,973,503
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $15,865,085 · end of year $19,871,856
-
4 · Accounts receivable
beginning of year $11,556,978 · end of year $13,888,085
-
7 · Other notes and loans receivable
beginning of year $1,697,824 · end of year $1,632,658
-
8 · Inventories for sale or use
beginning of year $5,613,659 · end of year $11,231,158
-
9 · Prepaid expenses and deferred charges
beginning of year $5,170,370 · end of year $4,942,101
-
10a · Land, buildings and equipment: cost or other basis
$400,769,387
-
10b · Land, buildings and equipment: accumulated depreciation
$102,188,493
-
10c · Land, buildings and equipment, net
beginning of year $248,043,396 · end of year $298,580,894
-
12 · Investments: other securities
beginning of year $2,832,158 · end of year $3,065,476
-
13 · Investments: program-related
beginning of year $43,471,097 · end of year $47,477,643
-
17 · Accounts payable and accrued expenses
beginning of year $29,969,975 · end of year $20,332,323
-
19 · Deferred revenue
beginning of year $43,000 · end of year $52,000
-
23 · Secured mortgages and notes payable
beginning of year $204,880,106 · end of year $262,710,900
-
25 · Other liabilities
beginning of year $11,267,677 · end of year $10,206,332
-
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 $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $88,089,809 · end of year $107,388,316
Mission and programs · 2022
Mission
PROVIDE ELECTRIC POWER TO MEMBERS
-
PROVIDE ELECTRIC POWER TO OVER 37,022 MEMBERS
As filed on the 2022 return.
Listed in Part VII
-
Clarence BarthCLARENCE BARTH
CHAIRMAN
- Total calculated
- $15,408
- From this org
- $15,400
- From related orgs
- $0
- Other
- $8
- Hours/week
- 3.6
-
John GreenJOHN GREEN
TREASURER
- Total calculated
- $9,713
- From this org
- $9,700
- From related orgs
- $0
- Other
- $13
- Hours/week
- 2.8
-
Ben RussellBEN RUSSELL
VICE CHAIRMAN
- Total calculated
- $8,708
- From this org
- $8,700
- From related orgs
- $0
- Other
- $8
- Hours/week
- 2.1
-
Ronald ArmstrongRONALD ARMSTRONG
SECRETARY
- Total calculated
- $9,713
- From this org
- $9,700
- From related orgs
- $0
- Other
- $13
- Hours/week
- 2.2
-
Gerry BundleGERRY BUNDLE
DIRECTOR
- Total calculated
- $16,213
- From this org
- $16,200
- From related orgs
- $0
- Other
- $13
- Hours/week
- 3.9
-
Daniel BodetteDANIEL BODETTE
DIRECTOR
- Total calculated
- $19,213
- From this org
- $19,200
- From related orgs
- $0
- Other
- $13
- Hours/week
- 4.6
-
Erika Escue-CadieuxERIKA ESCUE-CADIEUX
DIRECTOR
- Total calculated
- $18,213
- From this org
- $18,200
- From related orgs
- $0
- Other
- $13
- Hours/week
- 5.8
-
Fred TurkFRED TURK
DIRECTOR
- Total calculated
- $16,213
- From this org
- $16,200
- From related orgs
- $0
- Other
- $13
- Hours/week
- 4.2
-
James DickersonJAMES DICKERSON
DIRECTOR (THRU 8/22)
- Total calculated
- $1,708
- From this org
- $1,700
- From related orgs
- $0
- Other
- $8
- Hours/week
- 0.1
-
James WiselyJAMES WISELY
DIRECTOR
- Total calculated
- $1,803
- From this org
- $1,800
- From related orgs
- $0
- Other
- $3
- Hours/week
- 0.7
-
Robert HanceROBERT HANCE
CEO/PRESIDENT
- Total calculated
- $519,475
- From this org
- $457,888
- From related orgs
- $0
- Other
- $61,587
- Hours/week
- 65 + 5 related
Schedule J breakdown matched by us
- Base
- $453,681
- Bonus
- $4,207
- Other
- $0
- Deferred
- $46,944
- Nontaxable benefits
- $14,643
- Filer's total
- $519,475
-
Terry RubenthalerTERRY RUBENTHALER
CTO
- Total calculated
- $393,261
- From this org
- $358,409
- From related orgs
- $0
- Other
- $34,852
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $358,409
- Bonus
- $0
- Other
- $0
- Deferred
- $10,752
- Nontaxable benefits
- $24,100
- Filer's total
- $393,261
-
Todd CrandallTODD CRANDALL
CFO
- Total calculated
- $289,880
- From this org
- $257,122
- From related orgs
- $0
- Other
- $32,758
- Hours/week
- 55 + 5 related
Schedule J breakdown matched by us
- Base
- $257,122
- Bonus
- $0
- Other
- $0
- Deferred
- $7,714
- Nontaxable benefits
- $25,044
- Filer's total
- $289,880
-
Chad RitchieCHAD RITCHIE
VP ELECTRIC & FIBER OPERATIONS
- Total calculated
- $277,458
- From this org
- $246,235
- From related orgs
- $0
- Other
- $31,223
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $246,235
- Bonus
- $0
- Other
- $0
- Deferred
- $7,387
- Nontaxable benefits
- $23,836
- Filer's total
- $277,458
-
Candy RiemCANDY RIEM
VP MARKETING & MEMBER SERVICES
- Total calculated
- $264,175
- From this org
- $233,197
- From related orgs
- $0
- Other
- $30,978
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $233,197
- Bonus
- $0
- Other
- $0
- Deferred
- $6,996
- Nontaxable benefits
- $23,982
- Filer's total
- $264,175
-
Kerri WadeKERRI WADE
VP EMPLOYEE ENGAGEMENT
- Total calculated
- $246,177
- From this org
- $221,022
- From related orgs
- $0
- Other
- $25,155
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $221,022
- Bonus
- $0
- Other
- $0
- Deferred
- $6,631
- Nontaxable benefits
- $18,524
- Filer's total
- $246,177
-
Stephen HunsbergerSTEPHEN HUNSBERGER
LINEMAN
- Total calculated
- $188,432
- From this org
- $183,505
- From related orgs
- $0
- Other
- $4,927
- Hours/week
- 53.4
Schedule J breakdown matched by us
- Base
- $183,505
- Bonus
- $0
- Other
- $0
- Deferred
- -$16,856
- Nontaxable benefits
- $21,783
- Filer's total
- $188,432
-
Patrick HardingPATRICK HARDING
LINEMAN
- Total calculated
- $187,869
- From this org
- $180,862
- From related orgs
- $0
- Other
- $7,007
- Hours/week
- 52.9
Schedule J breakdown matched by us
- Base
- $180,862
- Bonus
- $0
- Other
- $0
- Deferred
- $5,426
- Nontaxable benefits
- $1,581
- Filer's total
- $187,869
-
David AllenDAVID ALLEN
VP REGULATORY & GAS OPERATIONS
- Total calculated
- $192,718
- From this org
- $168,703
- From related orgs
- $0
- Other
- $24,015
- Hours/week
- 49
Schedule J breakdown matched by us
- Base
- $168,703
- Bonus
- $0
- Other
- $0
- Deferred
- $5,061
- Nontaxable benefits
- $18,954
- Filer's total
- $192,718
-
Henry KrohneHENRY KROHNE
LINEMAN
- Total calculated
- $191,731
- From this org
- $166,458
- From related orgs
- $0
- Other
- $25,273
- Hours/week
- 52.4
Schedule J breakdown matched by us
- Base
- $166,458
- Bonus
- $0
- Other
- $0
- Deferred
- $4,994
- Nontaxable benefits
- $20,279
- Filer's total
- $191,731
-
James HaasJAMES HAAS
LINEMAN
- Total calculated
- $171,927
- From this org
- $164,949
- From related orgs
- $0
- Other
- $6,978
- Hours/week
- 50.4
Schedule J breakdown matched by us
- Base
- $164,949
- Bonus
- $0
- Other
- $0
- Deferred
- -$11,294
- Nontaxable benefits
- $18,272
- Filer's total
- $171,927
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 · 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
-
GYMNASIUM RENOVATION
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.
-
MIDWEST ENERGY INC
C · PROPANE · MI · 100% owned · share of income $1,063,452 · share of assets $15,989,154 · controlled entity
Directly controlled by MIDWEST ENERGY COOPERATIVE
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 25 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333039349301918
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