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Nonprofiteer
← FIRELANDS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by FIRELANDS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$22,829,839
Total expenses
$21,558,493
Contributions and grants received
$0
Grants paid
$15,175
Program service revenue
$22,116,905
Investment income
$36,118
Other revenue
$676,816
Total assets, end of year
$51,498,648
Total liabilities, end of year
$26,431,346
Net assets or fund balances, end of year
$25,067,302
Program services expenses (Part IX)
$21,558,493
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$21,558,493

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: SALE OF ELECTRIC

    total $22,116,905 · related or exempt $22,116,905

  • 3 · Investment income

    total $36,118 · excluded $36,118

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $676,816 · excluded $676,816

  • 11e · Other revenue, total

    $676,816

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,175 · program services $15,175

  • 5 · Compensation of officers, directors and key employees

    total $351,083 · program services $351,083

  • 7 · Other salaries and wages

    total $272,560 · program services $272,560

  • 20 · Interest

    total $782,478 · program services $782,478

  • 22 · Depreciation, depletion and amortization

    total $1,709,636 · program services $1,709,636

  • 24a · Other expenses: COST OF POWER

    total $12,825,852 · program services $12,825,852

  • 24b · Other expenses: DISTRIBUTION EXP-MAINTENA

    total $2,236,491 · program services $2,236,491

  • 24c · Other expenses: DISTRIBUTION EXP-OPERATIO

    total $1,256,117 · program services $1,256,117

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $858,153 · program services $858,153

  • 24e · All other expenses

    total $1,250,948 · program services $1,250,948

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,138,192 · end of year $1,258,570

  • 4 · Accounts receivable

    beginning of year $1,695,935 · end of year $1,763,052

  • 8 · Inventories for sale or use

    beginning of year $275,508 · end of year $581,211

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

    $56,841,250

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

    $19,568,612

  • 10c · Land, buildings and equipment, net

    beginning of year $37,073,935 · end of year $37,272,638

  • 12 · Investments: other securities

    beginning of year $10,067,770 · end of year $10,025,275

  • 15 · Other assets

    beginning of year $682,332 · end of year $597,902

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,777,956 · end of year $2,158,611

  • 23 · Secured mortgages and notes payable

    beginning of year $24,566,258 · end of year $23,448,432

  • 25 · Other liabilities

    beginning of year $773,952 · end of year $824,303

  • 29 · Capital stock, trust principal or current funds

    beginning of year $27,118 · end of year $25,768

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,788,388 · end of year $25,041,534

Mission and programs · 2022

Mission

RURAL DISTRIBUTION OF ELECTRIC ENERGY AND RELATED SERVICE

  • RURAL DISTRIBUTION OF ELECTRIC ENERGY AND RELATED SERVICE TO 7,933 MEMBERS.

    Expenses $21,558,493 · Grants $15,175

As filed on the 2022 return.

Listed in Part VII

  • Daniel McNaull

    GENL MGR, TR

    Total calculated
    $189,379
    From this org
    $164,071
    From related orgs
    $0
    Other
    $25,308
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $164,071
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,962
    Nontaxable benefits
    $1,346
    Filer's total
    $189,379

  • Tabitha Shepherd

    DIR FIN&ACCT

    Total calculated
    $182,304
    From this org
    $140,617
    From related orgs
    $0
    Other
    $41,687
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $140,617
    Bonus
    not reported
    Other
    not reported
    Deferred
    $19,709
    Nontaxable benefits
    $21,978
    Filer's total
    $182,304

  • Daniel Schloemer

    BD PRESIDENT

    Total calculated
    $8,631
    From this org
    $6,525
    From related orgs
    $0
    Other
    $2,106
    Hours/week
    6

  • Bruce Leimbach

    BD V-PRESIDE

    Total calculated
    $7,110
    From this org
    $5,450
    From related orgs
    $0
    Other
    $1,660
    Hours/week
    2.5

  • Carl Ayers

    BD SEC/TREAS

    Total calculated
    $7,247
    From this org
    $5,450
    From related orgs
    $0
    Other
    $1,797
    Hours/week
    4

  • W E Anderson

    TRUSTEE

    Total calculated
    $2,682
    From this org
    $2,025
    From related orgs
    $0
    Other
    $657
    Hours/week
    8

  • Thomas Lucha

    TRUSTEE

    Total calculated
    $7,003
    From this org
    $5,125
    From related orgs
    $0
    Other
    $1,878
    Hours/week
    2

  • Gene Lamoreaux

    TRUSTEE

    Total calculated
    $6,015
    From this org
    $4,270
    From related orgs
    $0
    Other
    $1,745
    Hours/week
    2

  • John Martin

    TRUSTEE

    Total calculated
    $6,442
    From this org
    $4,800
    From related orgs
    $0
    Other
    $1,642
    Hours/week
    1.25

  • Robert Turk

    TRUSTEE

    Total calculated
    $7,389
    From this org
    $5,150
    From related orgs
    $0
    Other
    $2,239
    Hours/week
    4

  • Richard Reidy

    TRUSTEE

    Total calculated
    $6,314
    From this org
    $4,450
    From related orgs
    $0
    Other
    $1,864
    Hours/week
    2

  • Elaine Oswald

    TRUSTEE

    Total calculated
    $4,349
    From this org
    $3,150
    From related orgs
    $0
    Other
    $1,199
    Hours/week
    6

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

None.

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

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202303189349311400

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