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Nonprofiteer
← HANCOCK-WOOD ELECTRIC COOPERATIVE

Form 990 for tax year 2025

Filed by HANCOCK-WOOD ELECTRIC COOPERATIVE.

Totals

Total revenue
$56,161,567
Total expenses
$52,733,590
Contributions and grants received
$0
Grants paid
$28,400
Program service revenue
$54,592,571
Investment income
$244,716
Other revenue
$1,324,280
Total assets, end of year
$150,964,875
Total liabilities, end of year
$68,760,423
Net assets or fund balances, end of year
$82,204,452
Program services expenses (Part IX)
$52,654,602
Management and general expenses
$78,988
Fundraising expenses
$0
Program service expenses (Part III)
$52,654,602

Program services were 99.9% 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 REVENUES

    total $54,264,640 · related or exempt $54,264,640

  • 2b · Program service revenue: OTHER ELECTIC REVENUES

    total $327,931 · related or exempt $327,931

  • 3 · Investment income

    total $190,502 · excluded $190,502

  • 7a · Gross sales of assets other than inventory

    other assets $54,214

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

    other assets $0

  • 7c · Gain or loss

    other assets $54,214

  • 7d · Net gain or loss

    total $54,214 · excluded $54,214

  • 11a · Other revenue: PATRONAGE REVENUE

    total $1,367,805 · excluded $1,367,805

  • 11b · Other revenue: MISCELLANEOUS NONOPERATING INCOME

    total -$43,525 · excluded -$43,525

  • 11e · Other revenue, total

    $1,324,280

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $28,400 · program services $28,400

  • 5 · Compensation of officers, directors and key employees

    total $753,427 · program services $753,427

  • 7 · Other salaries and wages

    total $783,657 · program services $783,657

  • 9 · Other employee benefits

    total $660,719 · program services $660,719

  • 11b · Fees: legal

    total $59,838 · management and general $59,838

  • 11c · Fees: accounting

    total $19,150 · management and general $19,150

  • 11g · Fees: other

    total $37,355 · program services $37,355

  • 14 · Information technology

    total $535,455 · program services $535,455

  • 20 · Interest

    total $2,144,810 · program services $2,144,810

  • 22 · Depreciation, depletion and amortization

    total $4,251,989 · program services $4,251,989

  • 24a · Other expenses: PURCHASED POWER

    total $34,141,376 · program services $34,141,376

  • 24b · Other expenses: OPERATIONS

    total $3,027,766 · program services $3,027,766

  • 24c · Other expenses: MAINTENANCE

    total $2,218,602 · program services $2,218,602

  • 24d · Other expenses: ADMINISTRATIVE EXPENSE

    total $2,002,937 · program services $2,002,937

  • 24e · All other expenses

    total $2,068,109 · program services $2,068,109

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $971,760 · end of year $966,880

  • 2 · Savings and temporary cash investments

    beginning of year $2,861,252 · end of year $5,039,062

  • 4 · Accounts receivable

    beginning of year $5,251,958 · end of year $5,256,987

  • 8 · Inventories for sale or use

    beginning of year $1,860,845 · end of year $2,676,683

  • 9 · Prepaid expenses and deferred charges

    beginning of year $512,131 · end of year $746,503

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

    $147,505,224

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

    $36,879,083

  • 10c · Land, buildings and equipment, net

    beginning of year $107,654,115 · end of year $110,626,141

  • 12 · Investments: other securities

    beginning of year $25,304,882 · end of year $25,652,619

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,444,124 · end of year $6,407,525

  • 23 · Secured mortgages and notes payable

    beginning of year $55,166,895 · end of year $60,156,706

  • 25 · Other liabilities

    beginning of year $2,248,177 · end of year $2,196,192

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $81,557,747 · end of year $82,204,452

Mission and programs · 2025

Mission

TO PROVIDE PREMIUM QUALITY SERVICE, ECONOMICALLY PRICED ELECTRICITY AND OTHER UTILITY SERVICES TO OUR MEMBERS AND COMMUNITY.

Activities or mission (Part I)

TO PROVIDE PREMIUM QUALITY SERVICE, ECONOMICALLY PRICED ELECTRICITY AND OTHER UTILITY SERVICES TO MEMBERS AND COMMUNITY.

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS.

    Expenses $52,654,602 · Grants $28,400 · Revenue $54,592,571

As filed on the 2025 return.

Listed in Part VII

  • William Kale

    CHAIRMAN

    Total calculated
    $17,100
    From this org
    $17,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.81

  • Lee Anne Dierksheide

    VICE CHAIRMAN

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.51

  • Duane Fry

    SECRETARY/TREASURER

    Total calculated
    $17,800
    From this org
    $17,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.68

  • Charles Beagle

    TRUSTEE

    Total calculated
    $7,350
    From this org
    $7,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.51

  • Ed Crawfrod

    TRUSTEE

    Total calculated
    $11,650
    From this org
    $11,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.56

  • James Rose

    TRUSTEE

    Total calculated
    $9,250
    From this org
    $9,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.51

  • Max Rader

    TRUSTEE

    Total calculated
    $11,250
    From this org
    $11,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.51

  • Timothy Phillips

    TRUSTEE

    Total calculated
    $16,400
    From this org
    $16,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.51

  • Ronald Riegle

    RETIRED TRUSTEE

    Total calculated
    $1,850
    From this org
    $1,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.42

  • Brian Terry

    TRUSTEE

    Total calculated
    $11,850
    From this org
    $11,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.21

  • William Barnhart

    PRESIDENT & CEO

    Total calculated
    $390,324
    From this org
    $295,562
    From related orgs
    $0
    Other
    $94,762
    Hours/week
    41.69

    Schedule J breakdown matched by us

    Base
    $295,562
    Bonus
    $0
    Other
    $0
    Deferred
    $69,385
    Nontaxable benefits
    $25,377
    Filer's total
    $390,324

  • Melissa Snyder

    CFO

    Total calculated
    $247,805
    From this org
    $163,652
    From related orgs
    $0
    Other
    $84,153
    Hours/week
    38.89

    Schedule J breakdown matched by us

    Base
    $163,652
    Bonus
    $0
    Other
    $0
    Deferred
    $35,242
    Nontaxable benefits
    $48,911
    Filer's total
    $247,805

  • Curtis Croy

    COO

    Total calculated
    $231,495
    From this org
    $171,608
    From related orgs
    $0
    Other
    $59,887
    Hours/week
    38.58

    Schedule J breakdown matched by us

    Base
    $171,608
    Bonus
    $0
    Other
    $0
    Deferred
    $35,285
    Nontaxable benefits
    $24,602
    Filer's total
    $231,495

  • Bradley Fisher

    VICE PRESIDENT ENGINNERING & OPERATIONS

    Total calculated
    $248,626
    From this org
    $166,395
    From related orgs
    $0
    Other
    $82,231
    Hours/week
    37.8

    Schedule J breakdown matched by us

    Base
    $166,395
    Bonus
    $0
    Other
    $0
    Deferred
    $43,080
    Nontaxable benefits
    $39,151
    Filer's total
    $248,626

  • Ryan Marquette

    IT MANAGER

    Total calculated
    $209,358
    From this org
    $138,932
    From related orgs
    $0
    Other
    $70,426
    Hours/week
    40.85

    Schedule J breakdown matched by us

    Base
    $138,932
    Bonus
    $0
    Other
    $0
    Deferred
    $36,011
    Nontaxable benefits
    $34,415
    Filer's total
    $209,358

  • Allen Riegle

    LINE SUPERINTENDENT

    Total calculated
    $203,736
    From this org
    $136,335
    From related orgs
    $0
    Other
    $67,401
    Hours/week
    43.29

    Schedule J breakdown matched by us

    Base
    $136,335
    Bonus
    $0
    Other
    $0
    Deferred
    $33,500
    Nontaxable benefits
    $33,901
    Filer's total
    $203,736

  • Josh Kitzler

    LINEMAN I

    Total calculated
    $187,687
    From this org
    $135,026
    From related orgs
    $0
    Other
    $52,661
    Hours/week
    44.9

    Schedule J breakdown matched by us

    Base
    $135,026
    Bonus
    $0
    Other
    $0
    Deferred
    $19,263
    Nontaxable benefits
    $33,398
    Filer's total
    $187,687

  • Ryan Goolsby

    DIRECTOR OF ENGINEERING

    Total calculated
    $196,280
    From this org
    $131,647
    From related orgs
    $0
    Other
    $64,633
    Hours/week
    38.72

    Schedule J breakdown matched by us

    Base
    $131,647
    Bonus
    $0
    Other
    $0
    Deferred
    $28,899
    Nontaxable benefits
    $35,734
    Filer's total
    $196,280

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.

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.

  • PRISM SOLUTIONS

    C · PROPANE · OH · 100% owned · share of income $5,378,173 · share of assets $8,421,398

Provenance

Return type
form_990
Tax year
2025
Filed
12 August 2026
IRS schema version
2025v4.2
Source object
202622249349301927

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