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Nonprofiteer
← SPOON RIVER ELECTRIC CO-OPERATIVE INCORPORATED

Form 990 for tax year 2025

Filed by SPOON RIVER ELECTRIC CO-OPERATIVE INCORPORATED.

Totals

Total revenue
$13,306,778
Total expenses
$13,101,880
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,282,217
Investment income
$24,561
Other revenue
$0
Total assets, end of year
$40,457,242
Total liabilities, end of year
$20,811,667
Net assets or fund balances, end of year
$19,645,575
Program services expenses (Part IX)
$13,101,880
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$13,101,880

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: Energy Sales

    total $12,488,455 · related or exempt $12,488,455

  • 2b · Program service revenue: Patronage Capital

    total $476,194 · related or exempt $476,194

  • 2c · Program service revenue: Other Electric Revenue

    total $269,950 · related or exempt $269,950

  • 2d · Program service revenue: Non-operating

    total $47,618 · related or exempt $47,618

  • 3 · Investment income

    total $24,561 · related or exempt $24,561

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $371,625 · program services $371,625

  • 5 · Compensation of officers, directors and key employees

    total $428,919 · program services $428,919

  • 20 · Interest

    total $866,827 · program services $866,827

  • 22 · Depreciation, depletion and amortization

    total $1,301,941 · program services $1,301,941

  • 24a · Other expenses: Purchased Power

    total $6,735,187 · program services $6,735,187

  • 24b · Other expenses: Distribution

    total $2,332,891 · program services $2,332,891

  • 24c · Other expenses: Adminstration

    total $710,933 · program services $710,933

  • 24d · Other expenses: Customer Service & Acco

    total $192,205 · program services $192,205

  • 24e · All other expenses

    total $161,352 · program services $161,352

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $488,532 · end of year $222,185

  • 4 · Accounts receivable

    beginning of year $1,422,534 · end of year $1,322,570

  • 8 · Inventories for sale or use

    beginning of year $368,636 · end of year $462,845

  • 9 · Prepaid expenses and deferred charges

    beginning of year $91,130 · end of year $102,836

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

    $46,309,908

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

    $15,973,226

  • 10c · Land, buildings and equipment, net

    beginning of year $29,521,321 · end of year $30,336,682

  • 12 · Investments: other securities

    beginning of year $7,610,642 · end of year $8,010,124

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,035,473 · end of year $1,827,046

  • 23 · Secured mortgages and notes payable

    beginning of year $17,309,951 · end of year $18,425,438

  • 25 · Other liabilities

    beginning of year $717,534 · end of year $559,183

  • 29 · Capital stock, trust principal or current funds

    beginning of year $114,370 · end of year $115,210

  • 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 $19,325,467 · end of year $19,530,365

Mission and programs · 2025

Mission

To provide safe, reliable, and affordable electric service to our members while enhancing the quality of life in the communities we serve.

Activities or mission (Part I)

Provide reliable & affordable electric service & enhance quality of life of the members we serve

  • The Cooperative provides electric service through its distribution system to our member/owners located in Fulton, Knox, McDonough, Peoria and Schuyler Counties in Central Illinois.

    Expenses $13,101,880 · Revenue $13,306,778

As filed on the 2025 return.

Listed in Part VII

  • Joshua DeWees

    CEO

    Total calculated
    $262,127
    From this org
    $173,953
    From related orgs
    $0
    Other
    $88,174
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $173,191
    Bonus
    $0
    Other
    $762
    Deferred
    $60,997
    Nontaxable benefits
    $27,177
    Filer's total
    $262,127

  • Mark Procarione

    Operations Mgr

    Total calculated
    $170,439
    From this org
    $132,208
    From related orgs
    $0
    Other
    $38,231
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $129,038
    Bonus
    $0
    Other
    $3,170
    Deferred
    $38,231
    Nontaxable benefits
    $0
    Filer's total
    $170,439

  • Jared Lascelles

    Jny Lineman

    Total calculated
    $152,720
    From this org
    $125,524
    From related orgs
    $0
    Other
    $27,196
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $125,394
    Bonus
    $0
    Other
    $130
    Deferred
    $6,865
    Nontaxable benefits
    $20,331
    Filer's total
    $152,720

  • Louis Gray

    Lineman

    Total calculated
    $149,843
    From this org
    $122,901
    From related orgs
    $0
    Other
    $26,942
    Hours/week
    41

  • Paul Moffitt

    Jny Lineman

    Total calculated
    $198,045
    From this org
    $122,448
    From related orgs
    $0
    Other
    $75,597
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $121,578
    Bonus
    $0
    Other
    $870
    Deferred
    $55,239
    Nontaxable benefits
    $20,358
    Filer's total
    $198,045

  • Trent Ross

    Jny Lineman

    Total calculated
    $152,504
    From this org
    $121,440
    From related orgs
    $0
    Other
    $31,064
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $121,254
    Bonus
    $0
    Other
    $186
    Deferred
    $10,733
    Nontaxable benefits
    $20,331
    Filer's total
    $152,504

  • Chad Riney

    CFO

    Total calculated
    $149,852
    From this org
    $119,904
    From related orgs
    $0
    Other
    $29,948
    Hours/week
    41

  • Bernard Marvel

    Chairman

    Total calculated
    $6,675
    From this org
    $6,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dan Williams

    Director

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Joe Davis

    Director

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • John Disharoon

    Director

    Total calculated
    $4,275
    From this org
    $4,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Wesley Strode

    Vice Chairman

    Total calculated
    $3,375
    From this org
    $3,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Kurt Duncan

    Director

    Total calculated
    $2,700
    From this org
    $2,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jack Clark

    Secretary

    Total calculated
    $2,475
    From this org
    $2,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • JoDee Pedigo

    Treasurer

    Total calculated
    $2,025
    From this org
    $2,025
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Gary Bowman

    Director

    Total calculated
    $1,875
    From this org
    $1,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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 · Written employment contract
  • 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)

Part I, Line 3
The Board of Directors review compensation, based on industry surveys and employee performance before approving executive compensation.

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.

  • Spoon River Holdings Inc

    C · Holding company for related companies · IL · 100% owned · share of income $8,612 · share of assets $1,431,971

Provenance

Return type
form_990
Tax year
2025
Filed
31 March 2026
IRS schema version
2025v4.1
Source object
202601149349301860

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