Totals
- Total revenue
- $24,404,256
- Total expenses
- $24,168,407
- Contributions and grants received
- $0
- Grants paid
- $11,220
- Program service revenue
- $23,071,989
- Investment income
- $110,019
- Other revenue
- $1,222,248
- Total assets, end of year
- $74,936,440
- Total liabilities, end of year
- $38,986,395
- Net assets or fund balances, end of year
- $35,950,045
- 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
total $22,902,006 · related or exempt $22,902,006
-
2b · Program service revenue: OTHER REVENUE
total $169,983 · related or exempt $169,983
-
3 · Investment income
total $96,301 · excluded $96,301
-
6a · Gross rents
real property $198,446
-
6b · Less rental expenses
real property $159,767
-
6c · Rental income or loss
real property $38,679
-
6d · Net rental income or loss
total $38,679 · excluded $38,679
-
7a · Gross sales of assets other than inventory
other assets $17,227
-
7b · Less cost or other basis and sales expenses
other assets $3,509
-
7c · Gain or loss
other assets $13,718
-
7d · Net gain or loss
total $13,718 · related or exempt $13,718
-
11a · Other revenue: CAPITAL CREDITS
total $855,733 · related or exempt $855,733
-
11b · Other revenue: OTHER REVENUE
total $250,072 · excluded $250,072
-
11c · Other revenue: K-1 HEARTLAND SECURITY
total $54,541 · unrelated business $54,541
-
11d · All other revenue
total $23,223 · unrelated business $23,223
-
11e · Other revenue, total
$1,183,569
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $11,220
-
4 · Benefits paid to or for members
total $2,358,499
-
5 · Compensation of officers, directors and key employees
total $489,164
-
20 · Interest
total $1,180,953
-
22 · Depreciation, depletion and amortization
total $2,495,910
-
24a · Other expenses: COST OF POWER
total $12,805,371
-
24b · Other expenses: DIST EXPENSE OPER & MAI
total $2,664,082
-
24c · Other expenses: ADMIN & GEN EXPENSE
total $1,397,178
-
24d · Other expenses: CONSUMER ACCT EXPENSES
total $407,243
-
24e · All other expenses
total $358,787
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $689,576 · end of year $352,075
-
4 · Accounts receivable
beginning of year $2,979,930 · end of year $2,907,132
-
7 · Other notes and loans receivable
beginning of year $6,000 · end of year $6,000
-
8 · Inventories for sale or use
beginning of year $2,520,424 · end of year $3,393,259
-
9 · Prepaid expenses and deferred charges
beginning of year $1,234,232 · end of year $901,399
-
10a · Land, buildings and equipment: cost or other basis
$82,174,103
-
10b · Land, buildings and equipment: accumulated depreciation
$27,634,621
-
10c · Land, buildings and equipment, net
beginning of year $53,858,319 · end of year $54,539,482
-
12 · Investments: other securities
beginning of year $1,055,328 · end of year $1,320,205
-
13 · Investments: program-related
beginning of year $11,265,226 · end of year $11,516,888
-
17 · Accounts payable and accrued expenses
beginning of year $4,241,740 · end of year $4,110,922
-
19 · Deferred revenue
beginning of year $123,805 · end of year $103,477
-
23 · Secured mortgages and notes payable
beginning of year $34,767,241 · end of year $34,106,077
-
25 · Other liabilities
beginning of year $43,504 · end of year $665,919
-
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 $34,432,745 · end of year $35,950,045
Mission and programs · 2023
Mission
TO PROVIDE ELECTRIC DISTRIBUTION AND OTHER RELATED SERVICES TO ITS 8,981 MEMBERS.
Activities or mission (Part I)
TO PROVIDE ELECTRIC DISTRIBUTION AND OTHER RELATED SERVICES TO ITS MEMBERS.
-
DISTRIBUTION OF ELECTRIC ENERGY AND RELATED SERVICES TO MEMBERS.
As filed on the 2023 return.
Listed in Part VII
-
Robbert StoneROBBERT STONE
DIRECTOR (THROUGH MARCH 2023)
- Total calculated
- $2,235
- From this org
- $2,235
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.08
-
Kelly EricksonKELLY ERICKSON
DIRECTOR
- Total calculated
- $8,705
- From this org
- $8,705
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.75
-
Todd PostTODD POST
VICE CHAIR
- Total calculated
- $10,305
- From this org
- $10,305
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10
-
Dan PomrankeDAN POMRANKE
DIRECTOR
- Total calculated
- $8,330
- From this org
- $8,330
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.99
-
Diane HelgesonDIANE HELGESON
DIRECTOR
- Total calculated
- $8,955
- From this org
- $8,955
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.36
-
Rollo CampeROLLO CAMPE
DIRECTOR
- Total calculated
- $8,580
- From this org
- $8,580
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.03
-
Stanley WubbenSTANLEY WUBBEN
SECRETARY
- Total calculated
- $8,805
- From this org
- $8,805
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.52
-
Larry PowersLARRY POWERS
DIRECTOR
- Total calculated
- $8,455
- From this org
- $8,455
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.78
-
Dale AndersonDALE ANDERSON
CHAIR
- Total calculated
- $8,655
- From this org
- $8,655
- From related orgs
- $0
- Other
- $0
- Hours/week
- 10.27
-
Darrell FostervoldDARRELL FOSTERVOLD
DIRECTOR (STARTED APRIL 2023)
- Total calculated
- $5,345
- From this org
- $5,345
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.34
-
Ryan NelsonRYAN NELSON
CEO
- Total calculated
- $227,306
- From this org
- $177,504
- From related orgs
- $0
- Other
- $49,802
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,504
- Bonus
- $0
- Other
- $0
- Deferred
- $33,762
- Nontaxable benefits
- $17,214
- Filer's total
- $228,480
-
Patrick KruegerPATRICK KRUEGER
CFO
- Total calculated
- $181,435
- From this org
- $136,536
- From related orgs
- $0
- Other
- $44,899
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $136,536
- Bonus
- $0
- Other
- $0
- Deferred
- $28,226
- Nontaxable benefits
- $17,550
- Filer's total
- $182,312
-
Dustin WelzDUSTIN WELZ
JOURNEYMAN LINE TECH IN-CHARGE
- Total calculated
- $145,677
- From this org
- $114,754
- From related orgs
- $0
- Other
- $30,923
- Hours/week
- 42.56
-
Michael MarcusMICHAEL MARCUS
JOURNEYMAN LINE TECH IN-CHARGE
- Total calculated
- $150,187
- From this org
- $113,106
- From related orgs
- $0
- Other
- $37,081
- Hours/week
- 42.52
Schedule J breakdown matched by us
- Base
- $113,106
- Bonus
- $0
- Other
- $0
- Deferred
- $15,231
- Nontaxable benefits
- $22,082
- Filer's total
- $150,419
-
Robert SankeyROBERT SANKEY
JOURNEYMAN LINE TECH IN-CHARGE
- Total calculated
- $130,003
- From this org
- $114,766
- From related orgs
- $0
- Other
- $15,237
- Hours/week
- 42.42
-
Casey JennyCASEY JENNY
JOURNEYMAN LINE TECH IN-CHARGE
- Total calculated
- $148,491
- From this org
- $111,522
- From related orgs
- $0
- Other
- $36,969
- Hours/week
- 42.57
-
Troy MeadTROY MEAD
LINE FOREMAN
- Total calculated
- $153,885
- From this org
- $116,169
- From related orgs
- $0
- Other
- $37,716
- Hours/week
- 42.38
Schedule J breakdown matched by us
- Base
- $116,169
- Bonus
- $0
- Other
- $0
- Deferred
- $15,878
- Nontaxable benefits
- $22,070
- Filer's total
- $154,117
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 · Form 990 of other organizations
- 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
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
KANDIYOHI POWER CHARITABLE TRUST
501(C)(3) · ACCUMULATE AND DISBURSE FUNDS FOR CHARITABLE PURPOSES · MN
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.
-
KPC HOLDINGS INC
C · HOLDING COMPANY · MN · 100% owned · share of income $261,038 · share of assets $870,078 · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 5 September 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412509349301301
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