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Nonprofiteer
← CORN BELT ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by CORN BELT ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$84,053,489
Total expenses
$84,053,489
Contributions and grants received
$0
Grants paid
$5,625
Program service revenue
$84,000,367
Investment income
-$18,859
Other revenue
$71,981
Total assets, end of year
$222,517,545
Total liabilities, end of year
$110,500,164
Net assets or fund balances, end of year
$112,017,381
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 SALES

    total $82,147,200 · related or exempt $82,147,200

  • 2b · Program service revenue: CAPITAL CREDITS

    total $1,806,207 · related or exempt $1,806,207

  • 2c · Program service revenue: POLE ATTACHMENT

    total $48,980 · excluded $48,980

  • 2d · Program service revenue: OTHER PROGRAM SERVICES

    total -$2,020 · related or exempt -$2,020

  • 3 · Investment income

    total $215,719 · excluded $215,719

  • 6a · Gross rents

    real property $88,240

  • 6b · Less rental expenses

    real property $36,543

  • 6c · Rental income or loss

    real property $51,697

  • 6d · Net rental income or loss

    total $51,697 · unrelated business $51,697

  • 7a · Gross sales of assets other than inventory

    other assets $295,688

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

    other assets $530,266

  • 7c · Gain or loss

    other assets -$234,578

  • 7d · Net gain or loss

    total -$234,578 · related or exempt -$234,578

  • 11a · Other revenue: MISCELLANEOUS

    total $23,218 · related or exempt $23,218

  • 11b · Other revenue: K-1 COOPERATIVE BALLOON ASSOC

    total -$2,934 · unrelated business -$2,934

  • 11e · Other revenue, total

    $20,284

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,625

  • 4 · Benefits paid to or for members

    total $4,713,509

  • 5 · Compensation of officers, directors and key employees

    total $1,497,998

  • 7 · Other salaries and wages

    total $1,188,939

  • 20 · Interest

    total $3,505,694

  • 22 · Depreciation, depletion and amortization

    total $6,527,697

  • 24a · Other expenses: COST OF ENERGY

    total $52,723,669

  • 24b · Other expenses: DISTRIBUTION

    total $8,775,801

  • 24c · Other expenses: ADMIN & GENERAL

    total $3,614,184

  • 24d · Other expenses: MEMBER SERVICES

    total $1,500,373

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $885,920 · end of year $828,518

  • 4 · Accounts receivable

    beginning of year $9,059,851 · end of year $10,907,480

  • 8 · Inventories for sale or use

    beginning of year $2,347,236 · end of year $2,891,290

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,108,033 · end of year $774,589

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

    $256,125,279

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

    $85,235,702

  • 10c · Land, buildings and equipment, net

    beginning of year $169,431,586 · end of year $170,889,577

  • 13 · Investments: program-related

    beginning of year $42,447,537 · end of year $36,226,091

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,318,877 · end of year $9,607,621

  • 19 · Deferred revenue

    beginning of year $3,777,822 · end of year $5,724,221

  • 23 · Secured mortgages and notes payable

    beginning of year $94,785,564 · end of year $89,574,265

  • 25 · Other liabilities

    beginning of year $5,949,885 · end of year $5,594,057

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

    beginning of year $7,605,587 · end of year $9,021,497

  • 31 · Retained earnings, endowment or other funds

    beginning of year $105,842,428 · end of year $102,995,884

Mission and programs · 2022

Mission

TO ENHANCE THE QUALITY OF LIFE OF OUR MEMBERS AND SUPPORT THE COMMUNITIES WE SERVE BY COOPERATIVELY PROVIDING REASONABLY PRICED ENERGY WITH EXCEPTIONAL SERVICE.

  • PROVIDE ELECTRIC SERVICES TO OVER 35,000 HOMES AND BUSINESSES THROUGHOUT 18 COUNTIES IN CENTRAL ILLINOIS INCLUDING BUREAU, CHAMPAIGN, DE WITT, FORD, HENRY, KENDALL, KNOX, LA SALLE, LIVINGSTON, LOGAN, MACON, MARSHALL, MCLEAN, PIATT, PUTNAM, STARK, TAZEWELL, AND WOODFORD COUNTIES.

As filed on the 2022 return.

Listed in Part VII

  • Don Taylor

    PRESIDENT

    Total calculated
    $488,774
    From this org
    $434,645
    From related orgs
    $0
    Other
    $54,129
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $434,645
    Bonus
    not reported
    Other
    not reported
    Deferred
    $13,725
    Nontaxable benefits
    $40,404
    Filer's total
    $488,774

  • Ryan Campbell

    VP ELECTRIC

    Total calculated
    $301,419
    From this org
    $179,763
    From related orgs
    $0
    Other
    $121,656
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $179,763
    Bonus
    not reported
    Other
    not reported
    Deferred
    $96,159
    Nontaxable benefits
    $25,497
    Filer's total
    $301,419

  • Leonard Joe Priestley

    VP UTILITY S

    Total calculated
    $271,291
    From this org
    $189,980
    From related orgs
    $0
    Other
    $81,311
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $189,980
    Bonus
    not reported
    Other
    not reported
    Deferred
    $67,816
    Nontaxable benefits
    $13,495
    Filer's total
    $271,291

  • Norm Dunlop

    MGR OF CONST

    Total calculated
    $250,844
    From this org
    $133,494
    From related orgs
    $0
    Other
    $117,350
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $133,494
    Bonus
    not reported
    Other
    not reported
    Deferred
    $93,707
    Nontaxable benefits
    $23,643
    Filer's total
    $250,844

  • Mike Nelson

    NORTHERN REG

    Total calculated
    $242,633
    From this org
    $136,973
    From related orgs
    $0
    Other
    $105,660
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $136,973
    Bonus
    not reported
    Other
    not reported
    Deferred
    $83,234
    Nontaxable benefits
    $22,426
    Filer's total
    $242,633

  • Greg Yakle

    MGR OF ENGIN

    Total calculated
    $240,990
    From this org
    $154,978
    From related orgs
    $0
    Other
    $86,012
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $154,978
    Bonus
    not reported
    Other
    not reported
    Deferred
    $58,285
    Nontaxable benefits
    $27,727
    Filer's total
    $240,990

  • Lynn Oleson

    DIR OF ACCTG

    Total calculated
    $237,214
    From this org
    $131,042
    From related orgs
    $0
    Other
    $106,172
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $131,042
    Bonus
    not reported
    Other
    not reported
    Deferred
    $83,822
    Nontaxable benefits
    $22,350
    Filer's total
    $237,214

  • Brian Felker

    UG FOREMAN

    Total calculated
    $229,418
    From this org
    $170,303
    From related orgs
    $0
    Other
    $59,115
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $170,303
    Bonus
    not reported
    Other
    not reported
    Deferred
    $43,121
    Nontaxable benefits
    $15,994
    Filer's total
    $229,418

  • Mark Schaley

    MAINTENANCE

    Total calculated
    $225,054
    From this org
    $137,589
    From related orgs
    $0
    Other
    $87,465
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $137,589
    Bonus
    not reported
    Other
    not reported
    Deferred
    $63,119
    Nontaxable benefits
    $24,346
    Filer's total
    $225,054

  • Rae Payne

    CHAIRMAN OF

    Total calculated
    $26,600
    From this org
    $26,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.18

  • Peter Borowski

    SECRETARY-TR

    Total calculated
    $20,500
    From this org
    $20,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.76

  • Jerry Starkey

    DIRECTOR

    Total calculated
    $19,100
    From this org
    $19,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.29

  • Dennis Fredrickson

    VICE CHAIRMA

    Total calculated
    $18,500
    From this org
    $18,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.04

  • Janice Reimer

    ASSIST SEC-T

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.89

  • Kay Werts

    DIRECTOR

    Total calculated
    $17,650
    From this org
    $17,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.71

  • Jesse Slager

    DIRECTOR

    Total calculated
    $16,850
    From this org
    $16,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.99

  • Frank Kobilsek

    DIRECTOR

    Total calculated
    $16,750
    From this org
    $16,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.44

  • Barbara Metzger

    DIRECTOR

    Total calculated
    $15,650
    From this org
    $15,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.56

  • Terry Longman

    DIRECTOR

    Total calculated
    $12,900
    From this org
    $12,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.42

  • Denise Mayes

    DIRECTOR

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.51

  • Robert Angus

    DIRECTOR

    Total calculated
    $6,600
    From this org
    $6,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.93

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

Provenance

Return type
form_990
Tax year
2022
Filed
28 September 2023
IRS schema version
2022v5.0
Source object
202322729349301117

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