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Nonprofiteer
← CHIPPEWA VALLEY ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by CHIPPEWA VALLEY ELECTRIC COOPERATIVE.

Totals

Total revenue
$17,120,097
Total expenses
$17,034,652
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$16,636,948
Investment income
$179,392
Other revenue
$303,757
Total assets, end of year
$50,869,408
Total liabilities, end of year
$26,526,165
Net assets or fund balances, end of year
$24,343,243
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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 $16,020,462 · related or exempt $16,020,462

  • 2b · Program service revenue: CAPITAL CREDITS AND OTHER

    total $616,486 · excluded $616,486

  • 3 · Investment income

    total $180,031 · unrelated business $160,521 · excluded $19,510

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

    other assets $639

  • 7c · Gain or loss

    other assets -$639

  • 7d · Net gain or loss

    total -$639 · related or exempt -$639

  • 10a · Gross sales of inventory

    $92,876

  • 10b · Cost of goods sold

    $102,404

  • 10c · Net income from sales of inventory

    total -$9,528 · unrelated business -$9,528

  • 11a · Other revenue: MUNICIPALITY MAINTENANCE REVE

    total $269,926 · unrelated business $269,926

  • 11b · Other revenue: MAIN STREET MSGR

    total $34,489 · unrelated business $34,489

  • 11c · Other revenue: MANAGEMENT SERVICES

    total $8,700 · unrelated business $8,700

  • 11d · All other revenue

    total $170 · related or exempt $170

  • 11e · Other revenue, total

    $313,285

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $753,581

  • 5 · Compensation of officers, directors and key employees

    total $290,482

  • 20 · Interest

    total $794,039

  • 22 · Depreciation, depletion and amortization

    total $1,784,682

  • 24a · Other expenses: PURCHASED POWER

    total $8,982,257

  • 24b · Other expenses: ADMINISTRATIVE AND GENERA

    total $1,185,851

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $939,139

  • 24d · Other expenses: DISTRIBUTION - MAINTENANC

    total $808,003

  • 24e · All other expenses

    total $1,496,618

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $992,746 · end of year $1,298,936

  • 2 · Savings and temporary cash investments

    beginning of year $75,521 · end of year $2,043

  • 4 · Accounts receivable

    beginning of year $1,412,664 · end of year $1,580,029

  • 7 · Other notes and loans receivable

    beginning of year $4,500,000 · end of year $4,500,000

  • 8 · Inventories for sale or use

    beginning of year $552,320 · end of year $544,078

  • 9 · Prepaid expenses and deferred charges

    beginning of year $93,018 · end of year $62,500

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

    $54,788,444

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

    $20,115,887

  • 10c · Land, buildings and equipment, net

    beginning of year $34,317,860 · end of year $34,672,557

  • 12 · Investments: other securities

    beginning of year $7,009 · end of year $70,833

  • 13 · Investments: program-related

    beginning of year $7,521,275 · end of year $7,842,360

  • 15 · Other assets

    beginning of year $59,423 · end of year $296,072

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,587,688 · end of year $1,853,279

  • 23 · Secured mortgages and notes payable

    beginning of year $23,465,274 · end of year $24,470,752

  • 25 · Other liabilities

    beginning of year $364,752 · end of year $202,134

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,114,122 · end of year $24,343,243

Mission and programs · 2024

Mission

SUPPLYING ELECTRICITY TO ITS MEMBERS.

  • SUPPLYING ELECTRICITY TO ITS MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Russ Falkenberg

    PRES/CEO

    Total calculated
    $236,010
    From this org
    $147,910
    From related orgs
    $2,250
    Other
    $85,850
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $147,910 + $2,250 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    $59,819
    Nontaxable benefits
    $26,031
    Filer's total
    $233,760 + $2,250 related

  • Nicolas Alberson

    OPERATIONS M

    Total calculated
    $173,347
    From this org
    $132,694
    From related orgs
    $2,400
    Other
    $38,253
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $132,694 + $2,400 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,760
    Nontaxable benefits
    $23,493
    Filer's total
    $170,947 + $2,400 related

  • Daniel Ferris

    LINEMAN

    Total calculated
    $166,678
    From this org
    $118,562
    From related orgs
    $0
    Other
    $48,116
    Hours/week
    43.84

    Schedule J breakdown matched by us

    Base
    $118,562
    Bonus
    not reported
    Other
    not reported
    Deferred
    $37,717
    Nontaxable benefits
    $10,399
    Filer's total
    $166,678

  • Gregory Olmstead

    LINEMAN

    Total calculated
    $160,736
    From this org
    $121,583
    From related orgs
    $0
    Other
    $39,153
    Hours/week
    45.18

    Schedule J breakdown matched by us

    Base
    $121,583
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,111
    Nontaxable benefits
    $28,042
    Filer's total
    $160,736

  • Tyler Jones

    LINEMAN

    Total calculated
    $159,710
    From this org
    $127,918
    From related orgs
    $0
    Other
    $31,792
    Hours/week
    46.02

    Schedule J breakdown matched by us

    Base
    $127,918
    Bonus
    not reported
    Other
    not reported
    Deferred
    $3,750
    Nontaxable benefits
    $28,042
    Filer's total
    $159,710

  • Edward Rosseter

    LINEMAN

    Total calculated
    $132,025
    From this org
    $124,659
    From related orgs
    $0
    Other
    $7,366
    Hours/week
    44.15

  • Kevin Meistad

    VICE-CHAIRMA

    Total calculated
    $15,250
    From this org
    $15,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.7

  • John Petska

    CHAIRMAN OF

    Total calculated
    $14,000
    From this org
    $14,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.95

  • Francis Draxler

    DIRECTOR

    Total calculated
    $11,779
    From this org
    $11,779
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.09

  • Steve Johnson

    SECRETARY/TR

    Total calculated
    $10,750
    From this org
    $10,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.01

  • Joe Melville

    DIRECTOR

    Total calculated
    $9,800
    From this org
    $9,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.79

  • Sue Frei

    DIRECTOR

    Total calculated
    $8,850
    From this org
    $8,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.1

  • Steven Wall

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.58

  • Dany Liske

    DIRECTOR (-A

    Total calculated
    $4,300
    From this org
    $4,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.69

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

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.

  • CHIPPEWA VALLEY SATELLITE CORP

    C CORP · PART VII · WI · 100% owned · share of income -$188,751 · share of assets $9,649,612 · controlled entity

    Directly controlled by PART VII

Provenance

Return type
form_990
Tax year
2024
Filed
15 October 2025
IRS schema version
2024v5.0
Source object
202502899349301520

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