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← ONTONAGON COUNTY RURAL ELECTRIFICATION ASSOCIATION

Form 990 for tax year 2023

Filed by ONTONAGON COUNTY RURAL ELECTRIFICATION ASSOCIATION.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 14 July 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$6,922,847 changed to $7,033,249
Total expenses
$7,102,341 changed to $6,890,309
Program service revenue
$6,747,532 changed to $6,852,534
Investment income
$32,972 changed to $38,374
Other revenue
$142,343 changed to $142,341
Total assets, end of year
$27,776,174 changed to $28,114,492
Total liabilities, end of year
$19,908,470 changed to $19,924,354
Net assets or fund balances, end of year
$7,867,704 changed to $8,190,138

Totals

Total revenue
$6,922,847
Total expenses
$7,102,341
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,747,532
Investment income
$32,972
Other revenue
$142,343
Total assets, end of year
$27,776,174
Total liabilities, end of year
$19,908,470
Net assets or fund balances, end of year
$7,867,704
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: ELECTRICITY AND RELATED SALES

    total $6,747,532 · related or exempt $6,747,532

  • 3 · Investment income

    total $32,972 · related or exempt $32,972

  • 11a · Other revenue: CAPITAL CR & PATRONAGE DIV

    total $78,970 · related or exempt $78,970

  • 11b · Other revenue: LLC DISTRIBUTIONS

    total $46,295 · related or exempt $46,295

  • 11c · Other revenue: OTHER NONOPERATING INCOME

    total $17,078 · related or exempt $17,078

  • 11e · Other revenue, total

    $142,343

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $228,375

  • 7 · Other salaries and wages

    total $135,541

  • 20 · Interest

    total $722,140

  • 22 · Depreciation, depletion and amortization

    total $969,657

  • 24a · Other expenses: PURCHASE POWER

    total $2,150,233

  • 24b · Other expenses: DISTIBUTION-MAINTENANCE

    total $1,354,846

  • 24c · Other expenses: GENERAL AND ADMINISTRATIV

    total $689,440

  • 24d · Other expenses: DISTRIBUTION-OPERATION

    total $305,576

  • 24e · All other expenses

    total $546,533

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $500 · end of year $500

  • 2 · Savings and temporary cash investments

    beginning of year $464,259 · end of year $242,433

  • 4 · Accounts receivable

    beginning of year $700,766 · end of year $677,391

  • 8 · Inventories for sale or use

    beginning of year $410,102 · end of year $574,999

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,843 · end of year $21,654

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

    $38,335,874

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

    $13,530,369

  • 10c · Land, buildings and equipment, net

    beginning of year $23,957,065 · end of year $24,805,505

  • 13 · Investments: program-related

    beginning of year $2,676,326 · end of year $1,388,121

  • 15 · Other assets

    beginning of year $73,749 · end of year $65,571

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,689,146 · end of year $1,251,592

  • 23 · Secured mortgages and notes payable

    beginning of year $18,409,470 · end of year $18,515,082

  • 25 · Other liabilities

    beginning of year $139,796 · end of year $141,796

  • 29 · Capital stock, trust principal or current funds

    beginning of year $22,745 · end of year $22,740

  • 31 · Retained earnings, endowment or other funds

    beginning of year $8,024,453 · end of year $7,844,964

Mission and programs · 2023

Mission

TO PROVIDE SAFE, RELIABLE POWER TO THE RURAL AREAS OF HOUGHTON, ONTONAGON, KEWEENAW, BARAGA, AND GOGEBIC COUNTIES IN THE STATE OF MICHIGAN.

  • PROVIDED SAFE, RELIABLE POWER TO RURAL AREAS OF HOUGHTON, ONTONAGON, KEWEENAW, BARAGA, AND GOGEBIC COUNTIES IN THE STATE OF MICHIGAN.

As filed on the 2023 return.

Listed in Part VII

  • Eugene Soumis

    GENERAL MANA

    Total calculated
    $178,460
    From this org
    $128,846
    From related orgs
    $0
    Other
    $49,614
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $128,846
    Bonus
    not reported
    Other
    not reported
    Deferred
    $18,774
    Nontaxable benefits
    $30,840
    Filer's total
    $178,460

  • Justin Sironen

    LINEMAN

    Total calculated
    $135,541
    From this org
    $104,572
    From related orgs
    $0
    Other
    $30,969
    Hours/week
    44

  • William Hodges

    PRESIDENT

    Total calculated
    $9,512
    From this org
    $9,512
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mike Gaunt

    DIRECTOR

    Total calculated
    $7,613
    From this org
    $7,613
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jack Lehto

    DIRECTOR

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

  • Calvin Koski

    VICE PRESIDE

    Total calculated
    $6,865
    From this org
    $6,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Randy Myhren

    TREASURER

    Total calculated
    $6,475
    From this org
    $6,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Michael Urbis

    DIRECTOR

    Total calculated
    $6,175
    From this org
    $6,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Mildred Ann Gasperich

    SECRETARY

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

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 · Written employment contract
  • 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
12 November 2024
IRS schema version
2023v5.0
Source object
202413179349303246

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