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Nonprofiteer
← FLATHEAD ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by FLATHEAD ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$151,661,239
Total expenses
$146,473,287
Contributions and grants received
$0
Grants paid
$147,933
Program service revenue
$148,935,573
Investment income
$391,789
Other revenue
$2,333,877
Total assets, end of year
$317,059,300
Total liabilities, end of year
$224,930,610
Net assets or fund balances, end of year
$92,128,690
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 ELECTRICITY

    total $148,600,341 · related or exempt $148,600,341

  • 2f · All other program service revenue

    total $335,232 · related or exempt $335,232

  • 3 · Investment income

    total $211,265 · excluded $211,265

  • 6a · Gross rents

    real property $125,685 · personal property $556,855

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $125,685 · personal property $556,855

  • 6d · Net rental income or loss

    total $682,540 · excluded $682,540

  • 7a · Gross sales of assets other than inventory

    other assets $243,125

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

    other assets $62,601

  • 7c · Gain or loss

    other assets $180,524

  • 7d · Net gain or loss

    total $180,524 · excluded $180,524

  • 9a · Gaming: gross income

    $21,997

  • 9b · Gaming: direct expenses

    $30,756

  • 9c · Net income from gaming

    total -$8,759 · excluded -$8,759

  • 11a · Other revenue: OTHER COOPERATIVE CAPITAL CREDITS

    total $1,660,096 · related or exempt $1,660,096

  • 11e · Other revenue, total

    $1,660,096

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $147,933

  • 4 · Benefits paid to or for members

    total $34,158

  • 6 · Compensation of disqualified persons

    total $2,481,271

  • 7 · Other salaries and wages

    total $15,913,293

  • 8 · Pension plan contributions

    total $4,809,830

  • 10 · Payroll taxes

    total $1,392,809

  • 20 · Interest

    total $7,962,354

  • 22 · Depreciation, depletion and amortization

    total $11,343,558

  • 24a · Other expenses: COST OF POWER

    total $84,300,089

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $13,597,039

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $6,945,109

  • 24d · Other expenses: TAXES

    total $5,481,399

  • 24e · All other expenses

    total -$7,935,555

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,694 · end of year $8,669,962

  • 4 · Accounts receivable

    beginning of year $17,249,176 · end of year $17,848,856

  • 7 · Other notes and loans receivable

    beginning of year $1,499,110 · end of year $1,441,383

  • 8 · Inventories for sale or use

    beginning of year $1,763,042 · end of year $1,546,931

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,154,270 · end of year $1,818,512

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

    $453,217,430

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

    $183,104,611

  • 10c · Land, buildings and equipment, net

    beginning of year $256,328,750 · end of year $270,112,819

  • 12 · Investments: other securities

    beginning of year $887,566 · end of year $1,214,705

  • 13 · Investments: program-related

    beginning of year $14,106,105 · end of year $14,145,940

  • 15 · Other assets

    beginning of year $283,338 · end of year $260,192

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,024,358 · end of year $20,292,003

  • 23 · Secured mortgages and notes payable

    beginning of year $151,256,949 · end of year $175,142,682

  • 24 · Unsecured notes and loans payable

    beginning of year $1,055,735 · end of year $0

  • 25 · Other liabilities

    beginning of year $32,070,050 · end of year $29,495,925

  • 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 $4,691,052 · end of year $4,906,324

  • 31 · Retained earnings, endowment or other funds

    beginning of year $86,176,907 · end of year $87,222,366

Mission and programs · 2025

Mission

AS A MEMBER OWNED COOPERATIVE, WE STRIVE TO PROVIDE COMPETITIVE AND RELIABLE SERVICE, ACHIEVE THE HIGHEST LEVEL OF MEMBER SATISFACTION AND ENHANCE THE QUALITY OF LIFE IN OUR COMMUNITIES.

Activities or mission (Part I)

TO PROVIDE RURAL ELECTRIC POWER DISTRIBUTION TO MEMBERS IN OUR SERVICE AREA.

  • GENERATION AND ACQUISITION OF ELECTRIC POWER FOR DISTRIBUTION TO APPROXIMATELY 59,902 MEMBERS (AS OF DECEMBER 31, 2025) ALONG 2,086 OVERHEAD LINES AND 3,239 UNDERGROUND LINES IN AND AROUND THE FLATHEAD VALLEY, LIBBY, ELK BASIN, AND COOKE CITY AREAS OF MONTANA.

As filed on the 2025 return.

Listed in Part VII

  • Stacey Schnebel

    PRESIDENT

    Total calculated
    $47,554
    From this org
    $47,554
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Steve Streich

    VICE PRESIDENT

    Total calculated
    $41,053
    From this org
    $41,053
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Alan Ruby

    SECRETARY/TREASURER

    Total calculated
    $41,571
    From this org
    $41,571
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.5

  • Gary Boe

    TRUSTEE

    Total calculated
    $40,892
    From this org
    $40,892
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Duane Braaten

    TRUSTEE

    Total calculated
    $51,712
    From this org
    $51,712
    From related orgs
    $0
    Other
    $0
    Hours/week
    13.5

  • Jerry Bygren

    TRUSTEE (UNTIL SEPT 2025)

    Total calculated
    $30,565
    From this org
    $30,565
    From related orgs
    $0
    Other
    $0
    Hours/week
    17

  • Gary Carmichael

    TRUSTEE

    Total calculated
    $50,672
    From this org
    $50,672
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.3

  • Terry Crooks

    TRUSTEE

    Total calculated
    $36,589
    From this org
    $31,729
    From related orgs
    $0
    Other
    $4,860
    Hours/week
    14.5

  • John Sliney

    TRUSTEE

    Total calculated
    $41,390
    From this org
    $41,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.8

  • Mark Johnson

    CEO AND GENERAL MANAGER

    Total calculated
    $1,003,572
    From this org
    $510,534
    From related orgs
    $0
    Other
    $493,038
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $505,578
    Bonus
    $276
    Other
    $4,680
    Deferred
    $459,364
    Nontaxable benefits
    $37,696
    Filer's total
    $1,007,594

  • Jason Williams

    COO

    Total calculated
    $457,872
    From this org
    $307,042
    From related orgs
    $0
    Other
    $150,830
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $304,614
    Bonus
    $271
    Other
    $2,157
    Deferred
    $116,040
    Nontaxable benefits
    $37,615
    Filer's total
    $460,697

  • Tia Robbin

    CAO

    Total calculated
    $333,663
    From this org
    $242,170
    From related orgs
    $0
    Other
    $91,493
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $238,473
    Bonus
    $303
    Other
    $3,394
    Deferred
    $70,202
    Nontaxable benefits
    $24,115
    Filer's total
    $336,487

  • Tod Young - Cfo Until

    08/25); SPECIAL PROJECT (BEG 8/25)

    Total calculated
    $404,931
    From this org
    $242,512
    From related orgs
    $0
    Other
    $162,419
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $234,420
    Bonus
    $298
    Other
    $7,794
    Deferred
    $133,706
    Nontaxable benefits
    $31,355
    Filer's total
    $407,573

  • Stacie Dellamano

    CFO (BEG 08/2025)

    Total calculated
    $100,261
    From this org
    $84,449
    From related orgs
    $0
    Other
    $15,812
    Hours/week
    50

  • John Goroski

    COMPLIANCE MANAGER

    Total calculated
    $377,395
    From this org
    $223,177
    From related orgs
    $0
    Other
    $154,218
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $219,924
    Bonus
    $298
    Other
    $2,955
    Deferred
    $140,308
    Nontaxable benefits
    $16,576
    Filer's total
    $380,061

  • Brian Plunkett

    ENGINEERING MANAGER

    Total calculated
    $384,050
    From this org
    $218,147
    From related orgs
    $0
    Other
    $165,903
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $215,557
    Bonus
    $298
    Other
    $2,292
    Deferred
    $128,563
    Nontaxable benefits
    $39,974
    Filer's total
    $386,684

  • Al Thorson

    OPERATIONS MANAGER

    Total calculated
    $333,725
    From this org
    $204,824
    From related orgs
    $0
    Other
    $128,901
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $202,928
    Bonus
    $190
    Other
    $1,706
    Deferred
    $116,551
    Nontaxable benefits
    $14,824
    Filer's total
    $336,199

  • Bj Hattel

    IT MANAGER

    Total calculated
    $259,968
    From this org
    $195,256
    From related orgs
    $0
    Other
    $64,712
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $194,139
    Bonus
    $352
    Other
    $765
    Deferred
    $29,531
    Nontaxable benefits
    $37,672
    Filer's total
    $262,459

  • Cody Katzer

    JOURNEYMAN LINE FOREMAN

    Total calculated
    $249,358
    From this org
    $187,048
    From related orgs
    $0
    Other
    $62,310
    Hours/week
    45.9

    Schedule J breakdown matched by us

    Base
    $142,915
    Bonus
    $352
    Other
    $43,781
    Deferred
    $28,170
    Nontaxable benefits
    $36,296
    Filer's total
    $251,514

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

  • 1a · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
GROSS UP OF MOVING EXPENSES FOR CFO COMPANY REIMBURSEMENT PROGRAM FOR HEALTH CLUB MEMBERSHIP
PART I, LINE 4B
THE CEO PARTICIPATES IN A 457(F) PLAN. SCHEDULE J, PART II, COLUMN C INCLUDES DEFERRALS OF $187,339 FOR THIS PLAN.
SCHEDULE J, PART II, COLUMN (C)
PART II COLUMN (C) INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR ALL PERSONS INCLUDED ON SCHEDULE J. THE ACTUAL CONTRIBUTION TO THE DEFINED BENEFIT PLAN FOR EACH RESPECTIVE EMPLOYEE IS NOT INCLUDED IN COLUMN (C).

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • ROUNDUP FOR SAFETY INC

    501(C)(3) · FUND SAFETY RELATED PROJECTS IN THE COMMUNITY. · MT · controlled entity

    Directly controlled by FLATHEAD ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2025
Filed
23 April 2026
IRS schema version
2025v4.1
Source object
202611149349300231

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