Skip to content
Nonprofiteer
← UNION RURAL ELECTRIC CO-OP INC

Form 990 for tax year 2022

Filed by UNION RURAL ELECTRIC CO-OP INC.

Totals

Total revenue
$63,176,541
Total expenses
$63,239,404
Contributions and grants received
$0
Grants paid
$73,101
Program service revenue
$60,854,003
Investment income
$24,446
Other revenue
$2,298,092
Total assets, end of year
$111,821,827
Total liabilities, end of year
$56,552,570
Net assets or fund balances, end of year
$55,269,257
Program services expenses (Part IX)
$63,239,404
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$63,239,404

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: Electric Revenue

    total $58,373,086 · related or exempt $58,373,086 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Gas Revenue

    total $2,196,921 · related or exempt $2,196,921 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Forfeited Discounts

    total $131,352 · related or exempt $131,352 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Pole Attachment Revenue

    total $127,284 · related or exempt $127,284 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Other Electric Services

    total $5,915 · related or exempt $5,915 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $19,445 · related or exempt $19,445 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $21,881 · related or exempt $21,881 · 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $2,565

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $2,565

  • 7d · Net gain or loss

    total $2,565 · related or exempt $2,565 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $31,255

  • 10b · Cost of goods sold

    $31,614

  • 10c · Net income from sales of inventory

    total -$359 · related or exempt -$359 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Patronage Capital Credits

    total $2,300,062 · related or exempt $2,300,062 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Outside Electrical Service

    total -$1,661 · related or exempt -$1,661 · unrelated business $0 · excluded $0

  • 11c · Other revenue: Chargepoint EV Charger

    total $50 · related or exempt $50 · unrelated business $0 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $2,298,451

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $66,101 · program services $66,101

  • 2 · Grants to domestic individuals

    total $7,000 · program services $7,000

  • 4 · Benefits paid to or for members

    total $3,509,544 · program services $3,509,544

  • 5 · Compensation of officers, directors and key employees

    total $835,249 · program services $835,249

  • 20 · Interest

    total $1,626,059 · program services $1,626,059 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $3,105,311 · program services $3,105,311 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Cost of Purchased Power

    total $43,470,635 · program services $43,470,635 · management and general $0 · fundraising $0

  • 24b · Other expenses: Distribution Expense - Operations

    total $3,240,907 · program services $3,240,907 · management and general $0 · fundraising $0

  • 24c · Other expenses: Distribution Expense - Maintenance

    total $1,670,145 · program services $1,670,145 · management and general $0 · fundraising $0

  • 24d · Other expenses: Administrative and General

    total $2,683,817 · program services $2,683,817 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $3,024,636 · program services $3,024,636 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $225,792 · end of year $288,697

  • 2 · Savings and temporary cash investments

    beginning of year $71,421 · end of year $57,266

  • 4 · Accounts receivable

    beginning of year $5,411,004 · end of year $5,594,878

  • 8 · Inventories for sale or use

    beginning of year $2,822,359 · end of year $3,281,872

  • 9 · Prepaid expenses and deferred charges

    beginning of year $416,318 · end of year $365,452

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

    $106,698,883

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

    $34,301,236

  • 10c · Land, buildings and equipment, net

    beginning of year $68,776,731 · end of year $72,397,647

  • 13 · Investments: program-related

    beginning of year $29,940,261 · end of year $29,836,015

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,777,590 · end of year $8,046,633

  • 19 · Deferred revenue

    beginning of year $2,647,462 · end of year $2,490,875

  • 23 · Secured mortgages and notes payable

    beginning of year $40,792,640 · end of year $40,413,408

  • 24 · Unsecured notes and loans payable

    end of year $3,800,000

  • 25 · Other liabilities

    beginning of year $2,106,767 · end of year $1,801,654

  • 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 $893,047 · end of year $959,966

  • 31 · Retained earnings, endowment or other funds

    beginning of year $53,446,380 · end of year $54,309,291

Mission and programs · 2022

Mission

Our mission is to make a difference in our community by delivering safe and reliable energy to our members at fair prices.

  • The cooperative distributes electricity and natural gas to its member/owners and also constructs and mantains facilities to carry out this purpose. Served approximately 11,000 members in the reporting year.

    Expenses $63,239,404

As filed on the 2022 return.

Listed in Part VII

  • Anthony P Smith

    President/CEO

    Total calculated
    $460,229
    From this org
    $229,320
    From related orgs
    $0
    Other
    $230,909
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $229,320
    Bonus
    $0
    Other
    $0
    Deferred
    $239,380
    Nontaxable benefits
    $34,467
    Filer's total
    $503,167

  • David G Speicher

    VP Finance/CFO

    Total calculated
    $286,745
    From this org
    $161,645
    From related orgs
    $0
    Other
    $125,100
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,253
    Bonus
    $0
    Other
    $14,392
    Deferred
    $95,201
    Nontaxable benefits
    $33,453
    Filer's total
    $290,299

  • Michael C Aquillo

    CXO

    Total calculated
    $259,267
    From this org
    $158,778
    From related orgs
    $0
    Other
    $100,489
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,330
    Bonus
    $0
    Other
    $22,448
    Deferred
    $75,618
    Nontaxable benefits
    $28,423
    Filer's total
    $262,819

  • Matthew J Zarnosky

    COO

    Total calculated
    $253,057
    From this org
    $161,519
    From related orgs
    $0
    Other
    $91,538
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $134,519
    Bonus
    $0
    Other
    $27,000
    Deferred
    $62,367
    Nontaxable benefits
    $32,973
    Filer's total
    $256,859

  • Brian R Lewis

    Manager of Operations

    Total calculated
    $220,169
    From this org
    $129,852
    From related orgs
    $0
    Other
    $90,317
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $123,400
    Bonus
    $0
    Other
    $6,451
    Deferred
    $62,165
    Nontaxable benefits
    $31,075
    Filer's total
    $223,091

  • Sean T Luellen

    Crew Leader

    Total calculated
    $194,626
    From this org
    $127,595
    From related orgs
    $0
    Other
    $67,031
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $114,805
    Bonus
    $0
    Other
    $12,790
    Deferred
    $39,660
    Nontaxable benefits
    $29,794
    Filer's total
    $197,049

  • Benjamin A Hoyer

    Crew Leader

    Total calculated
    $190,595
    From this org
    $133,535
    From related orgs
    $0
    Other
    $57,060
    Hours/week
    49.69

    Schedule J breakdown matched by us

    Base
    $113,035
    Bonus
    $0
    Other
    $20,500
    Deferred
    $23,639
    Nontaxable benefits
    $35,678
    Filer's total
    $192,852

  • Dale Scheiderer

    Trustee, Treasurer

    Total calculated
    $14,100
    From this org
    $14,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.58

  • Jeffrey Wilson

    Trustee

    Total calculated
    $14,100
    From this org
    $0
    From related orgs
    $0
    Other
    $14,100
    Hours/week
    3.28

  • Steve Patton

    Trustee, Chairman

    Total calculated
    $13,800
    From this org
    $13,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.99 + 0.88 related

  • David Thornton

    Trustee

    Total calculated
    $13,500
    From this org
    $13,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.6

  • Jeffrey Reinhard

    Trustee, Secretary

    Total calculated
    $12,900
    From this org
    $12,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.94

  • Dan Westlake

    Trustee, Vice Chairman

    Total calculated
    $12,600
    From this org
    $12,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.09

  • Mark Lotcyz

    Trustee

    Total calculated
    $7,275
    From this org
    $7,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.51

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
The cooperative has a wellness program which allows all full-time employees to be reimbursed once per calendar year as a taxable fringe benefit up to $300 paid toward the reimbursement at a health club or exercise facility or toward qualified home exercise equipment.

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

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.

  • Security Plus Inc

    C · Inactive · OH · 100% owned · share of income $100 · share of assets $100

Provenance

Return type
form_990
Tax year
2022
Filed
31 August 2023
IRS schema version
2022v5.0
Source object
202342779349300009

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.