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Nonprofiteer
← MOREAU-GRAND ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by MOREAU-GRAND ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$7,628,691
Total expenses
$6,281,370
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,495,783
Investment income
$85,077
Other revenue
$6,047,831
Total assets, end of year
$53,954,760
Total liabilities, end of year
$35,197,173
Net assets or fund balances, end of year
$18,757,587
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: CAPITAL CREDITS - G&T

    total $810,473 · related or exempt $810,473

  • 2b · Program service revenue: TRANSMISSION SYSTEM RENTAL

    total $235,431 · related or exempt $235,431

  • 2c · Program service revenue: JOB ORDER REVENUES

    total $180,297 · related or exempt $180,297

  • 2d · Program service revenue: CAPTITAL CREDITS-OTHER COOPS

    total $100,652 · related or exempt $100,652

  • 2e · Program service revenue: WHEELING IN ELECT SUBSTATION

    total $86,304 · related or exempt $86,304

  • 2f · All other program service revenue

    total $82,626 · related or exempt $82,626

  • 3 · Investment income

    total $85,077 · excluded $85,077

  • 6a · Gross rents

    personal property $45,006

  • 6c · Rental income or loss

    personal property $45,006

  • 6d · Net rental income or loss

    total $45,006 · excluded $45,006

  • 10a · Gross sales of inventory

    $12,660,717

  • 10b · Cost of goods sold

    $6,658,238

  • 10c · Net income from sales of inventory

    total $6,002,479 · related or exempt $6,002,479

  • 11a · Other revenue: CONNECT FEES

    total $346 · related or exempt $346

  • 11e · Other revenue, total

    $346

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $244,466

  • 7 · Other salaries and wages

    total $1,135,081

  • 8 · Pension plan contributions

    total $293,323

  • 9 · Other employee benefits

    total $393,552

  • 10 · Payroll taxes

    total $127,362

  • 11b · Fees: legal

    total $21,591

  • 11c · Fees: accounting

    total $24,112

  • 11g · Fees: other

    total $7,819

  • 12 · Advertising and promotion

    total $37,266

  • 13 · Office expenses

    total $376,521

  • 14 · Information technology

    total $75,069

  • 16 · Occupancy

    total $95,921

  • 17 · Travel

    total $22,075

  • 19 · Conferences, conventions and meetings

    total $6,103

  • 20 · Interest

    total $1,066,696

  • 22 · Depreciation, depletion and amortization

    total $1,547,336

  • 23 · Insurance

    total $229

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $526,281

  • 24b · Other expenses: GROSS RECEIPT TAX

    total $168,542

  • 24c · Other expenses: DUES

    total $90,040

  • 24d · Other expenses: MISC

    total $21,985

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,389,529 · end of year $4,475,925

  • 4 · Accounts receivable

    beginning of year $1,292,398 · end of year $1,463,410

  • 8 · Inventories for sale or use

    beginning of year $1,355,664 · end of year $1,508,354

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

    $63,251,352

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

    $23,671,678

  • 10c · Land, buildings and equipment, net

    beginning of year $37,776,121 · end of year $39,579,674

  • 13 · Investments: program-related

    beginning of year $6,287,047 · end of year $6,804,912

  • 15 · Other assets

    beginning of year $208,529 · end of year $122,485

  • 17 · Accounts payable and accrued expenses

    beginning of year $867,179 · end of year $1,003,661

  • 19 · Deferred revenue

    beginning of year $102,258 · end of year $201,845

  • 23 · Secured mortgages and notes payable

    beginning of year $31,648,158 · end of year $33,038,586

  • 25 · Other liabilities

    beginning of year $852,585 · end of year $953,081

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $2,032,176 · end of year $2,263,732

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,806,932 · end of year $16,493,855

Mission and programs · 2022

Mission

COOPERATIVE -- ELECTRIC ENERGY TO MEMBERS

  • PROVIDE LOW-COST ELECTRICAL POWER TO MEET PRESENT AND FUTURE NEEDS OF MEMBERS IN A THREE-COUNTY SERVICE AREA. THE COOPERATIVE SERVED 8,110 METERS IN 2022.

As filed on the 2022 return.

Listed in Part VII

  • Melissa Maher

    MANAGER

    Total calculated
    $195,216
    From this org
    $144,668
    From related orgs
    $0
    Other
    $50,548
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,668
    Bonus
    not reported
    Other
    not reported
    Deferred
    $30,367
    Nontaxable benefits
    $20,181
    Filer's total
    $195,216

  • Kent Larson

    OPERATIONS S

    Total calculated
    $164,718
    From this org
    $114,694
    From related orgs
    $0
    Other
    $50,024
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,694
    Bonus
    not reported
    Other
    not reported
    Deferred
    $37,057
    Nontaxable benefits
    $12,967
    Filer's total
    $164,718

  • Royce Walker

    DIRECTOR

    Total calculated
    $6,500
    From this org
    $6,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Clint Clark

    DIRECTOR

    Total calculated
    $5,750
    From this org
    $5,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Larry Hieb

    PRESIDENT

    Total calculated
    $5,750
    From this org
    $5,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Robert Keckler

    DIRECTOR

    Total calculated
    $5,500
    From this org
    $5,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kerry McLellan

    VICE PRESIDE

    Total calculated
    $5,250
    From this org
    $5,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Lois Bartlett

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Troy Wall

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Paul Lawrence

    DIRECTOR

    Total calculated
    $4,250
    From this org
    $4,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Ryan Maher

    DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kelly Landis

    SECRETARY/TR

    Total calculated
    $3,500
    From this org
    $3,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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.

Provenance

Return type
form_990
Tax year
2022
Filed
19 July 2023
IRS schema version
2022v5.0
Source object
202342009349300034

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