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Nonprofiteer
← CLAY-UNION ELECTRIC CORPORATION

Form 990 for tax year 2022

Filed by CLAY-UNION ELECTRIC CORPORATION.

Totals

Total revenue
$9,543,341
Total expenses
$9,543,341
Contributions and grants received
$0
Grants paid
$6,690
Program service revenue
$9,417,091
Investment income
$98,673
Other revenue
$27,577
Total assets, end of year
$40,338,882
Total liabilities, end of year
$22,895,871
Net assets or fund balances, end of year
$17,443,011
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SALE OF POWER

    total $8,713,576 · related or exempt $8,713,576

  • 2b · Program service revenue: CAPITAL CREDITS

    total $703,515 · related or exempt $703,515

  • 3 · Investment income

    total $93,859 · excluded $93,859

  • 7a · Gross sales of assets other than inventory

    securities $4,814

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

    securities $0

  • 7c · Gain or loss

    securities $4,814

  • 7d · Net gain or loss

    total $4,814 · excluded $4,814

  • 10a · Gross sales of inventory

    $413,127

  • 10b · Cost of goods sold

    $385,550

  • 10c · Net income from sales of inventory

    total $27,577 · related or exempt $27,577

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,690

  • 4 · Benefits paid to or for members

    total $926,262

  • 5 · Compensation of officers, directors and key employees

    total $225,330

  • 7 · Other salaries and wages

    total $1,227,512

  • 8 · Pension plan contributions

    total $281,021

  • 10 · Payroll taxes

    total $103,980

  • 20 · Interest

    total $556,115

  • 22 · Depreciation, depletion and amortization

    total $1,007,879

  • 24a · Other expenses: COST OF POWER

    total $4,902,907

  • 24b · Other expenses: ADMIN & GENERAL

    total $738,602

  • 24c · Other expenses: DISTRIBUTION-OPERATIONS

    total $592,515

  • 24d · Other expenses: DISTRIBUTION-MAINTENANC

    total $299,869

  • 24e · All other expenses

    total -$1,325,341

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,693,993 · end of year $3,054,695

  • 4 · Accounts receivable

    beginning of year $795,439 · end of year $845,059

  • 8 · Inventories for sale or use

    beginning of year $731,536 · end of year $845,471

  • 9 · Prepaid expenses and deferred charges

    beginning of year $559,691 · end of year $342,268

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

    $38,860,099

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

    $11,588,807

  • 10c · Land, buildings and equipment, net

    beginning of year $24,273,223 · end of year $27,271,292

  • 12 · Investments: other securities

    beginning of year $1,046,864 · end of year $1,361,055

  • 13 · Investments: program-related

    beginning of year $6,189,630 · end of year $6,597,793

  • 15 · Other assets

    beginning of year $5,585 · end of year $21,249

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,547,879 · end of year $2,198,397

  • 23 · Secured mortgages and notes payable

    beginning of year $18,434,479 · end of year $19,011,412

  • 25 · Other liabilities

    beginning of year $1,309,394 · end of year $1,686,062

  • 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 $17,004,209 · end of year $17,443,011

Mission and programs · 2022

Mission

TO PROVIDE SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICE FOR OUR MEMBERS NOW AND INTO THE FUTURE.

Activities or mission (Part I)

TO PROVIDE ELECTRICITY TO RURAL COMMUNITIES

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 2,904 MEMBERS. RETIRED 18 MILES OF OVERHEAD LINE AND 3 MILE OF UNDERGROUND LINE AND ADDED 28 MILES OF UNDERGROUND LINE.

As filed on the 2022 return.

Listed in Part VII

  • Chris Kinney

    VICE PRESIDENT

    Total calculated
    $6,095
    From this org
    $6,095
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Michael Slattery

    TREASURER

    Total calculated
    $7,276
    From this org
    $7,276
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Tom Larsen

    PRESIDENT

    Total calculated
    $6,677
    From this org
    $6,677
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gary Glover

    ASSISTANT SECRETARY

    Total calculated
    $8,420
    From this org
    $8,420
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • James Ryken

    SECRETARY

    Total calculated
    $4,845
    From this org
    $4,845
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Christopher Larson

    GENERAL MANAGER

    Total calculated
    $256,478
    From this org
    $131,701
    From related orgs
    $0
    Other
    $124,777
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,701
    Bonus
    $0
    Other
    $0
    Deferred
    $102,808
    Nontaxable benefits
    $24,735
    Filer's total
    $259,244

  • Mike Kruse

    OPERATIONS MANAGER

    Total calculated
    $139,794
    From this org
    $102,350
    From related orgs
    $0
    Other
    $37,444
    Hours/week
    40

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

The filer's explanations (Part III)

EXPLANATION OF AMOUNT REPORTED IN PART II, COLUMN (C).
INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $98,679 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR CHRISTOPHER LARSON. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $31,450.

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
2022
Filed
22 August 2023
IRS schema version
2022v5.0
Source object
202322359349300037

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