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Nonprofiteer
← CLAY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by CLAY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$8,143,558
Total expenses
$7,518,631
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,902,699
Investment income
$66,222
Other revenue
$174,637
Total assets, end of year
$23,789,578
Total liabilities, end of year
$10,074,953
Net assets or fund balances, end of year
$13,714,625
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$7,518,631

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 REVENUES

    total $7,815,922 · related or exempt $7,815,922

  • 2b · Program service revenue: OTHER ELECTRIC REVENUE

    total $86,777 · related or exempt $86,777

  • 3 · Investment income

    total $33,321 · excluded $33,321

  • 7a · Gross sales of assets other than inventory

    other assets $32,901

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

    other assets $0

  • 7c · Gain or loss

    other assets $32,901

  • 7d · Net gain or loss

    total $32,901 · excluded $32,901

  • 11a · Other revenue: CAPITAL CREDITS

    total $219,428 · excluded $219,428

  • 11b · Other revenue: 990-T REVENUE

    total $53,426 · unrelated business $53,426

  • 11c · Other revenue: 990-T EXPENSES

    total -$98,217 · unrelated business -$98,217

  • 11e · Other revenue, total

    $174,637

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $332,019

  • 20 · Interest

    total $379,313

  • 22 · Depreciation, depletion and amortization

    total $710,650

  • 24a · Other expenses: PURCHASED POWER

    total $4,238,418

  • 24b · Other expenses: DISTRIBUTION MAINTENANC

    total $781,701

  • 24c · Other expenses: ADMIN AND GENERAL

    total $385,936

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $273,913

  • 24e · All other expenses

    total $416,681

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $429,450 · end of year $259,735

  • 2 · Savings and temporary cash investments

    beginning of year $672,845 · end of year $61,786

  • 4 · Accounts receivable

    beginning of year $1,597,410 · end of year $2,183,712

  • 8 · Inventories for sale or use

    beginning of year $373,154 · end of year $225,015

  • 9 · Prepaid expenses and deferred charges

    beginning of year $533,706 · end of year $443,821

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

    $25,177,469

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

    $7,578,739

  • 10c · Land, buildings and equipment, net

    beginning of year $15,973,215 · end of year $17,598,730

  • 12 · Investments: other securities

    beginning of year $2,822,875 · end of year $3,016,779

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,020,587 · end of year $690,298

  • 19 · Deferred revenue

    beginning of year $349 · end of year $349

  • 23 · Secured mortgages and notes payable

    beginning of year $8,108,092 · end of year $9,309,066

  • 25 · Other liabilities

    beginning of year $70,970 · end of year $75,240

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $1,273,086 · end of year $1,487,854

  • 31 · Retained earnings, endowment or other funds

    beginning of year $11,929,571 · end of year $12,226,771

Mission and programs · 2023

Mission

TO DISTRIBUTE ELECTRICITY TO MEMBERS

  • DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS

    Expenses $7,518,631 · Revenue $7,902,700

As filed on the 2023 return.

Listed in Part VII

  • Frank Czyzewski

    BOARD DIRECTOR

    Total calculated
    $7,350
    From this org
    $7,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.15

  • Frank Herman

    BOARD DIRECTOR

    Total calculated
    $7,140
    From this org
    $7,140
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.21

  • Evan Smith

    BOARD DIRECTOR

    Total calculated
    $4,200
    From this org
    $4,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.13

  • Kevin Logan

    BOARD DIRECTOR

    Total calculated
    $9,420
    From this org
    $9,420
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.54

  • Neil Gould

    SECRETARY

    Total calculated
    $5,040
    From this org
    $5,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.15

  • Bob Pierson

    PRESIDENT

    Total calculated
    $9,030
    From this org
    $9,030
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.22

  • Richard Rudolphi

    BOARD DIRECTOR

    Total calculated
    $6,510
    From this org
    $6,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.99

  • Josh Schnepper

    BOARD DIRECTOR

    Total calculated
    $3,990
    From this org
    $3,990
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.71

  • Bill Croy

    VICE PRESIDENT

    Total calculated
    $5,880
    From this org
    $5,880
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.62

  • Matt Conklin

    CEO

    Total calculated
    $184,333
    From this org
    $139,397
    From related orgs
    $0
    Other
    $44,936
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,397
    Bonus
    $0
    Other
    $0
    Deferred
    $34,409
    Nontaxable benefits
    $10,527
    Filer's total
    $184,333

  • Adam Smith

    LINEMAN FOREMAN

    Total calculated
    $148,917
    From this org
    $118,236
    From related orgs
    $0
    Other
    $30,681
    Hours/week
    43.02

  • Damien Bowling

    LINEMAN FOREMAN

    Total calculated
    $150,367
    From this org
    $115,578
    From related orgs
    $0
    Other
    $34,789
    Hours/week
    42.98

    Schedule J breakdown matched by us

    Base
    $115,578
    Bonus
    $0
    Other
    $0
    Deferred
    $25,390
    Nontaxable benefits
    $9,399
    Filer's total
    $150,367

  • Eric Moyer

    JOURNEYMAN LINEMAN

    Total calculated
    $144,696
    From this org
    $116,030
    From related orgs
    $0
    Other
    $28,666
    Hours/week
    43.67

  • James Williams

    JOURNEYMAN LINEMAN

    Total calculated
    $144,769
    From this org
    $109,437
    From related orgs
    $0
    Other
    $35,332
    Hours/week
    40

  • Brody Snell

    JOURNEYMAN LINEMAN

    Total calculated
    $143,151
    From this org
    $111,055
    From related orgs
    $0
    Other
    $32,096
    Hours/week
    43.12

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
28 May 2024
IRS schema version
2023v5.0
Source object
202442639349300914

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