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Nonprofiteer
← BAYFIELD ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by BAYFIELD ELECTRIC COOPERATIVE.

Totals

Total revenue
$15,481,680
Total expenses
$15,168,020
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,939,458
Investment income
$17,390
Other revenue
$524,832
Total assets, end of year
$41,132,999
Total liabilities, end of year
$26,781,794
Net assets or fund balances, end of year
$14,351,205
Program services expenses (Part IX)
$15,168,020
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$15,168,020

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Operating Revenue

    total $14,939,458 · related or exempt $14,939,458 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $17,390 · related or exempt $17,390 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11a · Other revenue: Non-operating Renue

    total $41,033 · related or exempt $41,033 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Capital Credit Patronage

    total $483,799 · related or exempt $483,799 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $524,832

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $504,147 · program services $504,147

  • 5 · Compensation of officers, directors and key employees

    total $350,648 · program services $350,648

  • 7 · Other salaries and wages

    total $1,809,482 · program services $1,809,482

  • 10 · Payroll taxes

    total $157,951 · program services $157,951

  • 11b · Fees: legal

    total $21,814 · program services $21,814

  • 11c · Fees: accounting

    total $35,752 · program services $35,752

  • 20 · Interest

    total $878,299 · program services $878,299

  • 22 · Depreciation, depletion and amortization

    total $1,714,185 · program services $1,714,185

  • 24a · Other expenses: Gross Revenue Tax

    total $255,334 · program services $255,334 · management and general $0 · fundraising $0

  • 24b · Other expenses: Cost of Power

    total $6,629,581 · program services $6,629,581 · management and general $0 · fundraising $0

  • 24c · Other expenses: Dues to Member Organizations

    total $59,161 · program services $59,161 · management and general $0 · fundraising $0

  • 24d · Other expenses: Other Administrative and Operational Expenses

    total $2,751,666 · program services $2,751,666 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,001,278 · end of year $1,655,052

  • 2 · Savings and temporary cash investments

    beginning of year $1,119 · end of year $7,859

  • 4 · Accounts receivable

    beginning of year $1,672,800 · end of year $1,874,329

  • 8 · Inventories for sale or use

    beginning of year $1,783,362 · end of year $1,627,783

  • 9 · Prepaid expenses and deferred charges

    beginning of year $129,961 · end of year $113,897

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

    $62,359,940

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

    $33,556,974

  • 10c · Land, buildings and equipment, net

    beginning of year $29,221,970 · end of year $28,802,966

  • 15 · Other assets

    beginning of year $6,790,726 · end of year $7,051,113

  • 17 · Accounts payable and accrued expenses

    beginning of year $740,930 · end of year $847,892

  • 23 · Secured mortgages and notes payable

    beginning of year $24,709,775 · end of year $24,335,112

  • 25 · Other liabilities

    beginning of year $1,984,876 · end of year $1,598,790

  • 29 · Capital stock, trust principal or current funds

    beginning of year $42,515 · end of year $42,740

  • 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 $14,123,120 · end of year $14,308,465

Mission and programs · 2024

Mission

Committed to provide safe, reliable, and affordable electricity to rural areas through superior customer service.

Activities or mission (Part I)

Electric Energy Distribution

  • To provide electrical energy to its members

    Expenses $15,168,020 · Revenue $15,481,680

As filed on the 2024 return.

Listed in Part VII

  • Christopher Kopel

    CEO

    Total calculated
    $312,667
    From this org
    $222,070
    From related orgs
    $0
    Other
    $90,597
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,070
    Bonus
    $0
    Other
    $0
    Deferred
    $58,572
    Nontaxable benefits
    $32,025
    Filer's total
    $312,667

  • Amanda Kavajecz

    Biling Specialist

    Total calculated
    $196,509
    From this org
    $149,237
    From related orgs
    $0
    Other
    $47,272
    Hours/week
    62

    Schedule J breakdown matched by us

    Base
    $149,237
    Bonus
    $0
    Other
    $0
    Deferred
    $20,673
    Nontaxable benefits
    $26,599
    Filer's total
    $196,509

    Schedule J breakdown matched by us

    Base
    $131,307
    Bonus
    $0
    Other
    $0
    Deferred
    $35,624
    Nontaxable benefits
    $27,438
    Filer's total
    $194,369

  • Robert Lahti

    Operations Manager

    Total calculated
    $194,369
    From this org
    $131,307
    From related orgs
    $0
    Other
    $63,062
    Hours/week
    40

  • Sara Anderson

    CFO

    Total calculated
    $191,573
    From this org
    $128,578
    From related orgs
    $0
    Other
    $62,995
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,578
    Bonus
    $0
    Other
    $0
    Deferred
    $35,559
    Nontaxable benefits
    $27,437
    Filer's total
    $191,574

  • Matthew Tarasewicz

    Lineman

    Total calculated
    $164,099
    From this org
    $133,824
    From related orgs
    $0
    Other
    $30,275
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $133,824
    Bonus
    $0
    Other
    $0
    Deferred
    $17,483
    Nontaxable benefits
    $12,792
    Filer's total
    $164,099

  • Blake Reijo

    Lineman

    Total calculated
    $157,516
    From this org
    $127,209
    From related orgs
    $0
    Other
    $30,307
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $127,209
    Bonus
    $0
    Other
    $0
    Deferred
    $17,514
    Nontaxable benefits
    $12,793
    Filer's total
    $157,516

  • Troy Seeger

    Line Foreman

    Total calculated
    $144,550
    From this org
    $125,449
    From related orgs
    $0
    Other
    $19,101
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $125,449
    Bonus
    $0
    Other
    $0
    Deferred
    $18,474
    Nontaxable benefits
    $627
    Filer's total
    $144,550

  • Mark Santikko

    President

    Total calculated
    $11,550
    From this org
    $11,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.45

  • James Kinzie

    Director

    Total calculated
    $8,700
    From this org
    $8,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.71

  • Michael Neslon

    Director

    Total calculated
    $8,700
    From this org
    $8,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.1

  • Curtis Berweger

    Secretary/Treasurer

    Total calculated
    $8,200
    From this org
    $8,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.58

  • Russell Bailey

    Vice President

    Total calculated
    $7,750
    From this org
    $7,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.73

  • Barry Radloff

    Director

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.19

  • Carl Schutte

    Director

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.56

  • Robert Kretzschmar

    Director

    Total calculated
    $6,700
    From this org
    $6,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • Roy Settgas

    Director

    Total calculated
    $5,950
    From this org
    $5,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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 committee
  • 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)

Schedule J, Part I, Line 3
The board of directors determine the wages of the CEO with the guidance of the labor attorney.

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
2024
Filed
9 May 2025
IRS schema version
2024v5.0
Source object
202541299349302864

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