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← MIAMI-CASS COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by MIAMI-CASS COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$21,699,663
Total expenses
$20,878,604
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$19,997,281
Investment income
$126,088
Other revenue
$1,576,294
Total assets, end of year
$66,492,475
Total liabilities, end of year
$40,819,838
Net assets or fund balances, end of year
$25,672,637
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$20,878,604

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 $11,273,093 · related or exempt $11,273,093

  • 2b · Program service revenue: COMMERCIAL AND INDUSTRIAL SALES

    total $7,499,579 · related or exempt $7,499,579

  • 2c · Program service revenue: SALES TO PUBLIC BUILDINGS

    total $1,098,237 · related or exempt $1,098,237

  • 2d · Program service revenue: FORFEITED DISCOUNTS

    total $59,823 · related or exempt $59,823

  • 2e · Program service revenue: MISCELLANEOUS ELETRIC REVENUES

    total $28,375 · related or exempt $28,375

  • 2f · All other program service revenue

    total $38,174 · related or exempt $38,174

  • 3 · Investment income

    total $89,068 · excluded $89,068

  • 7a · Gross sales of assets other than inventory

    other assets $37,020

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

    other assets $0

  • 7c · Gain or loss

    other assets $37,020

  • 7d · Net gain or loss

    total $37,020 · excluded $37,020

  • 11a · Other revenue: PATRONAGE CAPITAL REVENUE

    total $662,089 · related or exempt $662,089

  • 11b · Other revenue: RENTAL REVENUE

    total $316,996 · related or exempt $316,996

  • 11c · Other revenue: MERCHANDISING

    total $125,258 · related or exempt $125,258

  • 11d · All other revenue

    total $471,951 · related or exempt $471,951

  • 11e · Other revenue, total

    $1,576,294

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $483,986

  • 7 · Other salaries and wages

    total $468,233

  • 9 · Other employee benefits

    total $378,645

  • 20 · Interest

    total $1,297,973

  • 22 · Depreciation, depletion and amortization

    total $1,775,186

  • 24a · Other expenses: PURCHASED POWER

    total $13,973,609

  • 24b · Other expenses: MAINTENANCE EXPENSE

    total $1,258,561

  • 24c · Other expenses: OPERATIONS EXPENSE

    total $536,065

  • 24d · Other expenses: CUSTOMER ACCOUNTS EXPEN

    total $478,769

  • 24e · All other expenses

    total $227,577

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,134,757 · end of year $4,506,744

  • 2 · Savings and temporary cash investments

    beginning of year $5,044 · end of year $5,063

  • 4 · Accounts receivable

    beginning of year $711,026 · end of year $1,272,304

  • 7 · Other notes and loans receivable

    beginning of year $2,142,910 · end of year $1,992,382

  • 8 · Inventories for sale or use

    beginning of year $466,713 · end of year $477,655

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,856,704 · end of year $8,584,194

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

    $59,845,602

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

    $20,481,973

  • 10c · Land, buildings and equipment, net

    beginning of year $32,036,233 · end of year $39,363,629

  • 12 · Investments: other securities

    beginning of year $8,411,848 · end of year $10,287,264

  • 15 · Other assets

    beginning of year $3,240 · end of year $3,240

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,282,110 · end of year $2,534,314

  • 23 · Secured mortgages and notes payable

    beginning of year $21,522,974 · end of year $36,799,190

  • 25 · Other liabilities

    beginning of year $1,998,128 · end of year $1,486,334

  • 29 · Capital stock, trust principal or current funds

    beginning of year $155,400 · end of year $155,400

  • 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 $25,809,863 · end of year $25,517,237

Mission and programs · 2023

Mission

TO PROVIDE DEPENDABLE ELECTRICITY FOR OUR MEMBERS AT A REASONABLE COST.

Activities or mission (Part I)

TO PROVIDE DEPENDABLE ELECTRICITY FOR OUR MEMBERS AT REASONABLE COSTS.

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

    Expenses $20,878,604 · Revenue $21,101,895

As filed on the 2023 return.

Listed in Part VII

  • Jim Savage

    PRESIDENT

    Total calculated
    $12,300
    From this org
    $12,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.88

  • Todd Smith

    VICE PRESIDENT

    Total calculated
    $12,560
    From this org
    $12,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.62

  • Cindy Scott

    SECRETARY/TREASURER

    Total calculated
    $12,512
    From this org
    $12,512
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.64

  • Tony Caldwell

    DIRECTOR

    Total calculated
    $12,645
    From this org
    $12,645
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.74

  • Mark Hahn

    DIRECTOR

    Total calculated
    $12,210
    From this org
    $12,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.12

  • Scott Marschand

    DIRECTOR

    Total calculated
    $12,560
    From this org
    $12,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.49

  • Donald Willson

    DIRECTOR

    Total calculated
    $12,210
    From this org
    $12,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.81

  • Rob Schwartz

    CEO

    Total calculated
    $396,989
    From this org
    $255,000
    From related orgs
    $0
    Other
    $141,989
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $255,000
    Bonus
    $0
    Other
    $0
    Deferred
    $121,378
    Nontaxable benefits
    $20,611
    Filer's total
    $396,989

  • Brandon Williams

    DIRECTOR OF OPERATIONS

    Total calculated
    $217,825
    From this org
    $138,585
    From related orgs
    $0
    Other
    $79,240
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,585
    Bonus
    $0
    Other
    $0
    Deferred
    $61,854
    Nontaxable benefits
    $17,386
    Filer's total
    $217,825

  • Kolbie Cox

    JOURNEYMAN LINEMAN

    Total calculated
    $182,183
    From this org
    $134,498
    From related orgs
    $0
    Other
    $47,685
    Hours/week
    46.74

    Schedule J breakdown matched by us

    Base
    $134,498
    Bonus
    $0
    Other
    $0
    Deferred
    $30,299
    Nontaxable benefits
    $17,386
    Filer's total
    $182,183

  • Stephanie Ziems

    DIRECTOR OF ACCOUNTING & FINANCE

    Total calculated
    $191,162
    From this org
    $126,000
    From related orgs
    $0
    Other
    $65,162
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,000
    Bonus
    $0
    Other
    $0
    Deferred
    $55,840
    Nontaxable benefits
    $9,322
    Filer's total
    $191,162

  • Matt Mavrick

    DIRECTOR OF IT

    Total calculated
    $155,864
    From this org
    $116,334
    From related orgs
    $0
    Other
    $39,530
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,334
    Bonus
    $0
    Other
    $0
    Deferred
    $39,530
    Nontaxable benefits
    $0
    Filer's total
    $155,864

  • Greg Million

    JOURNEYMAN LINEMAN

    Total calculated
    $174,244
    From this org
    $114,967
    From related orgs
    $0
    Other
    $59,277
    Hours/week
    43.61

    Schedule J breakdown matched by us

    Base
    $114,967
    Bonus
    $0
    Other
    $0
    Deferred
    $41,891
    Nontaxable benefits
    $17,386
    Filer's total
    $174,244

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
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202403059349301475

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