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Nonprofiteer
← OCONTO ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by OCONTO ELECTRIC COOPERATIVE.

Totals

Total revenue
$18,492,649
Total expenses
$18,492,649
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$18,411,049
Investment income
$43,098
Other revenue
$38,502
Total assets, end of year
$48,577,291
Total liabilities, end of year
$27,434,480
Net assets or fund balances, end of year
$21,142,811
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 OPERATIONS

    total $18,180,660 · related or exempt $18,180,660

  • 2b · Program service revenue: PATRONAGE DIVIDEND

    total $178,602 · related or exempt $178,602

  • 2c · Program service revenue: RENTAL INCOME

    total $51,787 · related or exempt $51,787

  • 3 · Investment income

    total $43,098 · excluded $43,098

  • 10a · Gross sales of inventory

    $92,920

  • 10b · Cost of goods sold

    $54,418

  • 10c · Net income from sales of inventory

    total $38,502 · unrelated business $38,502

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $437,470

  • 5 · Compensation of officers, directors and key employees

    total $620,498

  • 20 · Interest

    total $836,846

  • 22 · Depreciation, depletion and amortization

    total $2,148,736

  • 24a · Other expenses: COST OF POWER

    total $9,852,720

  • 24b · Other expenses: DISTRIBUTION-MAINTENANCE

    total $1,245,043

  • 24c · Other expenses: ADMIN AND GENERAL

    total $1,079,902

  • 24d · Other expenses: DISTRIBUTION-OPERATION

    total $1,021,642

  • 24e · All other expenses

    total $1,249,792

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $177,083 · end of year $1,183,110

  • 2 · Savings and temporary cash investments

    beginning of year $214,309 · end of year $215,084

  • 4 · Accounts receivable

    beginning of year $2,234,692 · end of year $2,419,391

  • 8 · Inventories for sale or use

    beginning of year $1,186,925 · end of year $1,175,280

  • 9 · Prepaid expenses and deferred charges

    beginning of year $114,603 · end of year $107,751

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

    $72,306,197

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

    $30,819,122

  • 10c · Land, buildings and equipment, net

    beginning of year $39,799,087 · end of year $41,487,075

  • 13 · Investments: program-related

    beginning of year $1,749,065 · end of year $1,833,568

  • 15 · Other assets

    beginning of year $166,009 · end of year $156,032

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,049,127 · end of year $1,082,088

  • 23 · Secured mortgages and notes payable

    beginning of year $21,931,315 · end of year $25,100,818

  • 25 · Other liabilities

    beginning of year $1,116,097 · end of year $1,251,574

  • 29 · Capital stock, trust principal or current funds

    beginning of year $19,611,156 · end of year $19,103,507

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,934,078 · end of year $2,039,304

Mission and programs · 2023

Mission

TO PROVIDE ELECTRICITY TO MEMBERS IN AN EFFICIENT MANNER UTILIZING COOPERATIVE PRINCIPLES.

  • OPERATIONS ARE BASED UPON THE COOPERATIVE PRINCIPLES PROVIDED ELECTRICITY SOURCE TO MEMBERS OF THE COOPERATIVE BY PURCHASING WHOLESALE POWER; BUILDING, MAINTAINING, AND OPERATING AN ELECTRICAL DISTRIBUTION SYSTEM; AND OPERATED MEMBER INFORMATION AND CUSTOMER SUPPORT OPERATIONS.

As filed on the 2023 return.

Listed in Part VII

  • Byron Nolde

    CEO

    Total calculated
    $410,701
    From this org
    $292,967
    From related orgs
    $0
    Other
    $117,734
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $292,967
    Bonus
    not reported
    Other
    not reported
    Deferred
    $73,449
    Nontaxable benefits
    $44,285
    Filer's total
    $410,701

  • Jack Pardy

    LINE SUPERIN

    Total calculated
    $197,871
    From this org
    $131,658
    From related orgs
    $0
    Other
    $66,213
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,658
    Bonus
    not reported
    Other
    not reported
    Deferred
    $62,751
    Nontaxable benefits
    $3,462
    Filer's total
    $197,871

  • Brian Arndt

    LINEMAN

    Total calculated
    $187,056
    From this org
    $122,708
    From related orgs
    $0
    Other
    $64,348
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,708
    Bonus
    not reported
    Other
    not reported
    Deferred
    $43,252
    Nontaxable benefits
    $21,096
    Filer's total
    $187,056

  • Ron Friedman

    LINEMAN

    Total calculated
    $181,140
    From this org
    $126,663
    From related orgs
    $0
    Other
    $54,477
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,663
    Bonus
    not reported
    Other
    not reported
    Deferred
    $33,359
    Nontaxable benefits
    $21,118
    Filer's total
    $181,140

  • Ben Wilcox

    LINEMAN

    Total calculated
    $159,530
    From this org
    $119,682
    From related orgs
    $0
    Other
    $39,848
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,682
    Bonus
    not reported
    Other
    not reported
    Deferred
    $18,782
    Nontaxable benefits
    $21,066
    Filer's total
    $159,530

  • John Havemeier

    LINE FOREMAN

    Total calculated
    $146,358
    From this org
    $124,134
    From related orgs
    $0
    Other
    $22,224
    Hours/week
    40

  • Stephanie Paitl

    CFO

    Total calculated
    $117,335
    From this org
    $67,220
    From related orgs
    $0
    Other
    $50,115
    Hours/week
    40

  • Tony Wagner

    TREASURER

    Total calculated
    $12,790
    From this org
    $12,790
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dan Kanack

    DIRECTOR

    Total calculated
    $12,190
    From this org
    $12,190
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dennis Langerberg

    DIRECTOR

    Total calculated
    $11,590
    From this org
    $11,590
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Todd Duame

    CHAIRMAN

    Total calculated
    $10,765
    From this org
    $10,765
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • David Hischke

    VICE-CHAIRMA

    Total calculated
    $10,690
    From this org
    $10,690
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Ronnie Kruse

    SECRETARY

    Total calculated
    $10,190
    From this org
    $10,190
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jan Stranz

    DIRECTOR

    Total calculated
    $6,400
    From this org
    $6,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Douglas Allen

    DIRECTOR

    Total calculated
    $2,890
    From this org
    $2,890
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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 · 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
2023
Filed
13 May 2024
IRS schema version
2023v5.0
Source object
202431449349300648

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