Skip to content
Nonprofiteer
← HANCOCK-WOOD ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by HANCOCK-WOOD ELECTRIC COOPERATIVE.

Totals

Total revenue
$51,057,046
Total expenses
$46,384,540
Contributions and grants received
$0
Grants paid
$14,469
Program service revenue
$49,156,147
Investment income
$99,151
Other revenue
$1,801,748
Total assets, end of year
$138,392,432
Total liabilities, end of year
$60,225,150
Net assets or fund balances, end of year
$78,167,282
Program services expenses (Part IX)
$46,384,540
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$46,384,540

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: ELECTRIC REVENUES

    total $48,841,894 · related or exempt $48,841,894

  • 2b · Program service revenue: OTHER ELECTIC REVENUES

    total $314,253 · related or exempt $314,253

  • 3 · Investment income

    total $99,151 · related or exempt $99,151

  • 6a · Gross rents

    real property $246,712

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $246,712

  • 6d · Net rental income or loss

    total $246,712 · related or exempt $246,712

  • 11a · Other revenue: Patronage Revenue

    total $1,629,268 · related or exempt $1,629,268

  • 11b · Other revenue: Miscellaneous Nonoperating Income

    total -$74,232 · related or exempt -$74,232

  • 11e · Other revenue, total

    $1,555,036

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $14,469 · program services $14,469

  • 11b · Fees: legal

    total $82,919 · program services $82,919

  • 11c · Fees: accounting

    total $17,500 · program services $17,500

  • 11g · Fees: other

    total $13,340 · program services $13,340

  • 20 · Interest

    total $1,945,604 · program services $1,945,604

  • 22 · Depreciation, depletion and amortization

    total $3,755,843 · program services $3,755,843

  • 24a · Other expenses: Purchased Power

    total $29,833,044 · program services $29,833,044

  • 24b · Other expenses: General and Administrat

    total $4,363,043 · program services $4,363,043

  • 24c · Other expenses: Operations Expense

    total $2,609,229 · program services $2,609,229

  • 24d · Other expenses: Maintenance

    total $1,765,043 · program services $1,765,043

  • 24e · All other expenses

    total $1,984,506 · program services $1,984,506

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $533,914 · end of year $412,179

  • 2 · Savings and temporary cash investments

    beginning of year $1,752,061 · end of year $2,978,629

  • 4 · Accounts receivable

    beginning of year $3,571,941 · end of year $6,284,351

  • 8 · Inventories for sale or use

    beginning of year $1,396,252 · end of year $977,537

  • 9 · Prepaid expenses and deferred charges

    beginning of year $619,023 · end of year $562,595

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

    $133,463,743

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

    $31,047,853

  • 10c · Land, buildings and equipment, net

    beginning of year $100,372,719 · end of year $102,415,890

  • 12 · Investments: other securities

    beginning of year $24,785,231 · end of year $24,761,251

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,514,004 · end of year $7,215,638

  • 23 · Secured mortgages and notes payable

    beginning of year $50,253,486 · end of year $52,859,745

  • 25 · Other liabilities

    beginning of year $148,236 · end of year $149,767

  • 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 $75,115,415 · end of year $78,167,282

Mission and programs · 2022

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 $46,384,540 · Revenue $49,156,147

As filed on the 2022 return.

Listed in Part VII

  • Charles Beagle

    Trustee

    Total calculated
    $7,950
    From this org
    $7,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.05

  • Ed Crawford

    Trustee

    Total calculated
    $9,100
    From this org
    $9,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.83

  • Duane Fry

    Trustee

    Total calculated
    $15,100
    From this org
    $15,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.59

  • Thomas Kagy

    Trustee

    Total calculated
    $19,200
    From this org
    $19,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.15

  • Timothy Phillips

    Trustee

    Total calculated
    $14,215
    From this org
    $14,215
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.05

  • Ronald Riegle

    Trustee

    Total calculated
    $11,500
    From this org
    $11,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.05

  • Brian Terry

    Trustee

    Total calculated
    $9,050
    From this org
    $9,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.05

  • Gene Baker

    Chairman

    Total calculated
    $17,325
    From this org
    $17,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.05

  • Lee Anne Dierksheide

    Asst. Secretary/Treasurer

    Total calculated
    $9,650
    From this org
    $9,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.05

  • William Kale

    Vice Chairman

    Total calculated
    $11,900
    From this org
    $11,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.05

  • William Barnhart

    President/CEO

    Total calculated
    $314,837
    From this org
    $248,505
    From related orgs
    $0
    Other
    $66,332
    Hours/week
    45.63

    Schedule J breakdown matched by us

    Base
    $248,505
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $66,332
    Filer's total
    $314,837

  • Melissa Snyder

    CFO

    Total calculated
    $163,021
    From this org
    $115,857
    From related orgs
    $0
    Other
    $47,164
    Hours/week
    38.75

    Schedule J breakdown matched by us

    Base
    $115,857
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $47,164
    Filer's total
    $163,021

  • Curtis Croy

    COO

    Total calculated
    $180,650
    From this org
    $143,829
    From related orgs
    $0
    Other
    $36,821
    Hours/week
    42.35

    Schedule J breakdown matched by us

    Base
    $143,829
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $36,821
    Filer's total
    $180,650

  • Bradley Fisher

    Vice President Engineering & Operations

    Total calculated
    $187,904
    From this org
    $133,510
    From related orgs
    $0
    Other
    $54,394
    Hours/week
    38.31

    Schedule J breakdown matched by us

    Base
    $133,510
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $54,394
    Filer's total
    $187,904

  • Ryan Marquette

    IT Manager

    Total calculated
    $171,788
    From this org
    $118,359
    From related orgs
    $0
    Other
    $53,429
    Hours/week
    40.1

    Schedule J breakdown matched by us

    Base
    $118,359
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $53,429
    Filer's total
    $171,788

  • Allen Riegle

    Line Superintendent

    Total calculated
    $168,514
    From this org
    $117,040
    From related orgs
    $0
    Other
    $51,474
    Hours/week
    44.06

    Schedule J breakdown matched by us

    Base
    $117,040
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $51,474
    Filer's total
    $168,514

  • Joshua Kitzler

    Lineman I

    Total calculated
    $156,007
    From this org
    $116,316
    From related orgs
    $0
    Other
    $39,691
    Hours/week
    44.96

    Schedule J breakdown matched by us

    Base
    $116,316
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $39,691
    Filer's total
    $156,007

  • David Ervin

    Lineman I

    Total calculated
    $146,020
    From this org
    $115,467
    From related orgs
    $0
    Other
    $30,553
    Hours/week
    42.06

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.

  • PRISM SOLUTIONS

    OH · 100% owned

Provenance

Return type
form_990
Tax year
2022
Filed
1 August 2023
IRS schema version
2022v5.0
Source object
202302149349300900

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.