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Nonprofiteer
← D S & O RURAL ELECTRIC COOPERATIVE ASSOCIATION INC

Form 990 for tax year 2024

Filed by D S & O RURAL ELECTRIC COOPERATIVE ASSOCIATION INC.

Totals

Total revenue
$22,326,941
Total expenses
$22,326,941
Contributions and grants received
$0
Grants paid
$10,000
Program service revenue
$22,250,866
Investment income
$71,383
Other revenue
$4,692
Total assets, end of year
$75,055,364
Total liabilities, end of year
$49,182,171
Net assets or fund balances, end of year
$25,873,193
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: Sale of Electricity

    total $21,821,126 · related or exempt $21,821,126

  • 2b · Program service revenue: Capital Credits

    total $173,192 · related or exempt $173,192

  • 2c · Program service revenue: Misc Electric Revenue

    total $256,548 · related or exempt $256,548

  • 3 · Investment income

    total $71,383 · excluded $71,383

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Non-Operating

    total $4,692 · related or exempt $4,692

  • 11e · Other revenue, total

    $4,692

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,000

  • 4 · Benefits paid to or for members

    total $1,296,801

  • 5 · Compensation of officers, directors and key employees

    total $743,169

  • 7 · Other salaries and wages

    total $597,511

  • 20 · Interest

    total $1,899,397

  • 22 · Depreciation, depletion and amortization

    total $2,179,961

  • 24a · Other expenses: Cost of Power

    total $11,199,801 · program services $11,199,801

  • 24b · Other expenses: Distribution Expense

    total $1,733,900 · program services $1,733,900

  • 24c · Other expenses: Member Services

    total $463,244 · program services $463,244

  • 24d · Other expenses: Admin & General

    total $1,083,103 · program services $1,083,103

  • 24e · All other expenses

    total $1,120,054

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,181,944 · end of year $2,332,234

  • 2 · Savings and temporary cash investments

    beginning of year $641,860 · end of year $816,767

  • 4 · Accounts receivable

    beginning of year $1,724,923 · end of year $1,910,411

  • 8 · Inventories for sale or use

    beginning of year -$10,856 · end of year -$11,122

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,683,785 · end of year $2,681,134

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

    $76,067,532

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

    $17,539,529

  • 10c · Land, buildings and equipment, net

    beginning of year $58,147,794 · end of year $58,528,003

  • 13 · Investments: program-related

    beginning of year $8,582,336 · end of year $8,792,728

  • 15 · Other assets

    beginning of year $5,209 · end of year $5,209

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,140,835 · end of year $2,184,668

  • 19 · Deferred revenue

    beginning of year $68,168 · end of year $68,677

  • 23 · Secured mortgages and notes payable

    beginning of year $46,787,302 · end of year $46,742,438

  • 25 · Other liabilities

    beginning of year $186,472 · end of year $186,388

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

    beginning of year $4,557,191 · end of year $4,432,806

  • 31 · Retained earnings, endowment or other funds

    beginning of year $20,217,027 · end of year $21,440,387

Mission and programs · 2024

Mission

To provide to our members safe, reliable, and affordable energy, educational programs, high quality service and other products through the provision of cooperative financial stability, hiring innovative employees and environmental stewardship.

  • The Cooperative serves approximately 8,400 residential and commercial meters in some thirty communities spread throughout a nine county area in Central Kansas. Its service area extends from Junction City to McPherson and from Glasco to Lost Springs. This area includes the City of Solomon and certain areas within the city limits of Junction City. The majority of residential customers continue to be found in Dickinson, Saline, and Ottawa counties. Signficant numbers are also in Geary and McPherson counties.

As filed on the 2024 return.

Listed in Part VII

  • Timothy J Power

    CEO

    Total calculated
    $407,391
    From this org
    $281,951
    From related orgs
    $0
    Other
    $125,440
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $281,951
    Bonus
    not reported
    Other
    not reported
    Deferred
    $96,007
    Nontaxable benefits
    $29,433
    Filer's total
    $407,391

  • Marla Marshall

    CFO

    Total calculated
    $267,302
    From this org
    $146,658
    From related orgs
    $0
    Other
    $120,644
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $146,658
    Bonus
    not reported
    Other
    not reported
    Deferred
    $92,553
    Nontaxable benefits
    $28,091
    Filer's total
    $267,302

  • Tracy Turner

    Operations Manager

    Total calculated
    $217,328
    From this org
    $125,600
    From related orgs
    $0
    Other
    $91,728
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $125,600
    Bonus
    not reported
    Other
    not reported
    Deferred
    $63,922
    Nontaxable benefits
    $27,806
    Filer's total
    $217,328

  • Kiff Swisher

    Lineman

    Total calculated
    $190,443
    From this org
    $145,848
    From related orgs
    $0
    Other
    $44,595
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $145,848
    Bonus
    not reported
    Other
    not reported
    Deferred
    $20,049
    Nontaxable benefits
    $24,546
    Filer's total
    $190,443

  • Derrick Rutherford

    Member Services

    Total calculated
    $189,740
    From this org
    $125,278
    From related orgs
    $0
    Other
    $64,462
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $125,278
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,634
    Nontaxable benefits
    $27,828
    Filer's total
    $189,740

  • Ken Hedberg

    Director

    Total calculated
    $13,650
    From this org
    $13,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.77

  • James Christopher

    Director

    Total calculated
    $12,225
    From this org
    $12,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.31

  • Shelia Hummel

    Director

    Total calculated
    $11,238
    From this org
    $11,238
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.44

  • David Mueller

    Director

    Total calculated
    $7,475
    From this org
    $7,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.71

  • Michael Richards

    Director

    Total calculated
    $7,150
    From this org
    $7,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.2

  • Bruce Spare

    Director

    Total calculated
    $5,363
    From this org
    $5,363
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.11

  • Ken Berry

    Director

    Total calculated
    $4,550
    From this org
    $4,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.87

  • David Butler

    Director

    Total calculated
    $3,900
    From this org
    $3,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Randy Cooper

    Director

    Total calculated
    $2,925
    From this org
    $2,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.07

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
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202533149349306048

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