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Nonprofiteer
← NORTH CENTRAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by NORTH CENTRAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$32,150,827
Total expenses
$29,756,777
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$31,021,760
Investment income
$44,650
Other revenue
$1,084,417
Total assets, end of year
$86,244,071
Total liabilities, end of year
$49,913,521
Net assets or fund balances, end of year
$36,330,550
Program services expenses (Part IX)
$29,756,777
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$29,756,777

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: RESIDENTIAL SALES

    total $19,286,369 · related or exempt $19,286,369

  • 2b · Program service revenue: COMMERCIAL SALES - LARGE

    total $6,500,693 · related or exempt $6,500,693

  • 2c · Program service revenue: COMMERCIAL SALES- SMALL

    total $4,207,344 · related or exempt $4,207,344

  • 2d · Program service revenue: PUBLIC REVENUES

    total $711,736 · related or exempt $711,736

  • 2e · Program service revenue: OTHER ELECTRIC REVENUES

    total $264,107 · related or exempt $264,107

  • 2f · All other program service revenue

    total $51,511 · related or exempt $51,511

  • 3 · Investment income

    total $44,650 · excluded $44,650

  • 11a · Other revenue: PATRONAGE CAPITAL CREDITS

    total $1,072,964 · related or exempt $1,072,964

  • 11b · Other revenue: MISC REVENUE/EXP

    total -$23,936 · related or exempt -$23,936

  • 11d · All other revenue

    total $35,389 · excluded $35,389

  • 11e · Other revenue, total

    $1,084,417

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $886,062 · program services $886,062

  • 5 · Compensation of officers, directors and key employees

    total $547,306 · program services $547,306

  • 11a · Fees: management

    total $141,130 · program services $141,130

  • 11b · Fees: legal

    total $34,293 · program services $34,293

  • 11c · Fees: accounting

    total $65,348 · program services $65,348

  • 12 · Advertising and promotion

    total $108,669 · program services $108,669

  • 20 · Interest

    total $1,735,414 · program services $1,735,414

  • 22 · Depreciation, depletion and amortization

    total $3,718,085 · program services $3,718,085

  • 24a · Other expenses: PURCHASED POWER

    total $17,119,147 · program services $17,119,147

  • 24b · Other expenses: OPERATIONS EXPENSE

    total $1,767,605 · program services $1,767,605

  • 24c · Other expenses: MAINTENANCE EXPENSE

    total $1,389,797 · program services $1,389,797

  • 24d · Other expenses: STATE EXCISE TAX

    total $904,872 · program services $904,872

  • 24e · All other expenses

    total $1,339,049 · program services $1,339,049

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $363,611 · end of year $1,526,131

  • 2 · Savings and temporary cash investments

    beginning of year $53,195 · end of year $55,354

  • 4 · Accounts receivable

    beginning of year $2,874,937 · end of year $4,651,979

  • 7 · Other notes and loans receivable

    beginning of year $7,413 · end of year $7,445

  • 8 · Inventories for sale or use

    beginning of year $1,013,203 · end of year $1,234,467

  • 9 · Prepaid expenses and deferred charges

    beginning of year $360,999 · end of year $223,362

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

    $96,676,629

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

    $32,050,211

  • 10c · Land, buildings and equipment, net

    beginning of year $59,412,013 · end of year $64,626,418

  • 12 · Investments: other securities

    beginning of year $13,610,401 · end of year $13,918,915

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,332,700 · end of year $10,300,046

  • 23 · Secured mortgages and notes payable

    beginning of year $33,142,334 · end of year $37,192,365

  • 25 · Other liabilities

    beginning of year $2,876,935 · end of year $2,421,110

  • 29 · Capital stock, trust principal or current funds

    beginning of year $80,980 · end of year $80,980

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $34,262,823 · end of year $36,249,570

Mission and programs · 2023

Mission

TO PROVIDE OUR MEMBER-OWNERS WITH HIGHLY RELIABLE ELECTRIC SERVICE, SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT COMPETITIVE PRICES.

Activities or mission (Part I)

TO PROVIDE ELECTRICITY AND RELATED SERVICES TO MEMBERS.

  • PROVIDE ELECTRICITY AND RELATED SERVICES TO MEMBERS.

    Expenses $29,756,777 · Revenue $31,021,759

As filed on the 2023 return.

Listed in Part VII

  • Rodney Snavely

    CHAIR

    Total calculated
    $16,800
    From this org
    $16,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.76

  • Michael Scherger

    VICE CHAIR

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.91

  • Steven Seitz

    TREASURER

    Total calculated
    $10,850
    From this org
    $10,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.78

  • Kevin Bishop

    SECRETARY

    Total calculated
    $15,750
    From this org
    $15,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.79

  • Andrew Brose

    DIRECTOR

    Total calculated
    $8,500
    From this org
    $8,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.64

  • Ronald Frisch

    DIRECTOR

    Total calculated
    $9,800
    From this org
    $9,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.44

  • David Green

    DIRECTOR

    Total calculated
    $7,500
    From this org
    $7,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.26

  • Dennis Schindler

    DIRECTOR

    Total calculated
    $11,900
    From this org
    $11,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.77

  • Nicholas Wagner

    DIRECTOR

    Total calculated
    $16,100
    From this org
    $16,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.45

  • Edward Vanhoose

    PRESIDENT/CEO

    Total calculated
    $242,046
    From this org
    $183,825
    From related orgs
    $0
    Other
    $58,221
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $183,825
    Bonus
    $0
    Other
    $0
    Deferred
    $47,328
    Nontaxable benefits
    $10,893
    Filer's total
    $242,046

  • Brad Warnement

    CHIEF OPERATING OFFICER

    Total calculated
    $126,922
    From this org
    $73,255
    From related orgs
    $0
    Other
    $53,667
    Hours/week
    44.75

  • Andrew Ruffing

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $52,325
    From this org
    $39,741
    From related orgs
    $0
    Other
    $12,584
    Hours/week
    43

  • Justis Clifford

    CHIEF STRATEGY OFFICER

    Total calculated
    $54,080
    From this org
    $40,313
    From related orgs
    $0
    Other
    $13,767
    Hours/week
    40

  • Brian Miller

    LINEMAN

    Total calculated
    $125,047
    From this org
    $102,472
    From related orgs
    $0
    Other
    $22,575
    Hours/week
    44.33

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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FEDERATED ENERGY SERVICES COOPERATIVE INC

    C · SERVICE MANAGEMENT · OH · 50% owned

Provenance

Return type
form_990
Tax year
2023
Filed
31 October 2024
IRS schema version
2023v5.1
Source object
202403059349301915

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