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Nonprofiteer
← NORTHCENTRAL ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by NORTHCENTRAL ELECTRIC COOPERATIVE.

Totals

Total revenue
$140,220,095
Total expenses
$136,354,642
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$137,713,434
Investment income
$421,469
Other revenue
$2,085,192
Total assets, end of year
$269,722,624
Total liabilities, end of year
$148,259,928
Net assets or fund balances, end of year
$121,462,696
Program services expenses (Part IX)
$136,354,642
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$136,354,642

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: ELECTRICITY SALES

    total $136,526,934 · related or exempt $136,526,934

  • 2b · Program service revenue: LATE PAYMENT CHARGES

    total $747,657 · related or exempt $747,657

  • 2c · Program service revenue: SERVICE COLLECTION FEES

    total $308,210 · related or exempt $308,210

  • 2d · Program service revenue: ASSET SALE

    total $66,471 · related or exempt $66,471

  • 2e · Program service revenue: MISCELLANEOUS SERVICE REVENUE

    total $63,130 · related or exempt $63,130

  • 2f · All other program service revenue

    total $1,032 · related or exempt $1,032

  • 3 · Investment income

    total $421,469 · related or exempt $421,469

  • 6a · Gross rents

    personal property $594,618

  • 6c · Rental income or loss

    personal property $594,618

  • 6d · Net rental income or loss

    total $594,618 · excluded $594,618

  • 11a · Other revenue: FIBER LEASE

    total $1,490,574 · unrelated business $1,490,574

  • 11e · Other revenue, total

    $1,490,574

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $5,681,602 · program services $5,681,602

  • 8 · Pension plan contributions

    total $623,758 · program services $623,758

  • 20 · Interest

    total $4,723,222 · program services $4,723,222

  • 22 · Depreciation, depletion and amortization

    total $10,072,037 · program services $10,072,037

  • 24a · Other expenses: POWER COST

    total $98,739,611 · program services $98,739,611

  • 24b · Other expenses: DISTRIBUTION/MAINTENANCE

    total $7,898,877 · program services $7,898,877

  • 24c · Other expenses: DISTRIBUTION/OPERATING

    total $4,825,036 · program services $4,825,036

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $4,162,886 · program services $4,162,886

  • 24e · All other expenses

    total -$372,387 · program services -$372,387

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,744,157 · end of year $6,282,289

  • 4 · Accounts receivable

    beginning of year $14,562,772 · end of year $17,527,918

  • 8 · Inventories for sale or use

    beginning of year $2,322,655 · end of year $2,281,370

  • 9 · Prepaid expenses and deferred charges

    beginning of year $139,617 · end of year $200,045

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

    $305,595,532

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

    $76,851,328

  • 10c · Land, buildings and equipment, net

    beginning of year $171,122,578 · end of year $228,744,204

  • 12 · Investments: other securities

    beginning of year $4,226,121 · end of year $5,769,497

  • 15 · Other assets

    beginning of year $27,319,080 · end of year $8,917,301

  • 17 · Accounts payable and accrued expenses

    beginning of year $24,586,987 · end of year $25,594,505

  • 23 · Secured mortgages and notes payable

    beginning of year $60,073,843 · end of year $106,566,828

  • 24 · Unsecured notes and loans payable

    beginning of year $17,000,000 · end of year $6,000,000

  • 25 · Other liabilities

    beginning of year $9,206,172 · end of year $10,098,595

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,451,197 · end of year $1,478,462

  • 31 · Retained earnings, endowment or other funds

    beginning of year $116,118,781 · end of year $119,984,234

Mission and programs · 2023

Mission

TO BRING SAFE, RELIABLE, AND AFFORDABLE POWER TO CUSTOMERS IN A COURTEOUS AND TIMELY MANNER.

  • TO PROVIDE ELECTRIC POWER SERVICE TO MEMBERS OF THE ASSOCIATION.

    Expenses $136,354,642 · Revenue $137,713,434

As filed on the 2023 return.

Listed in Part VII

  • William K Doddridge

    GENERAL MANA

    Total calculated
    $570,702
    From this org
    $456,883
    From related orgs
    $0
    Other
    $113,819
    Hours/week
    38

    Schedule J breakdown matched by us

    Base
    $456,883
    Bonus
    not reported
    Other
    not reported
    Deferred
    $113,819
    Nontaxable benefits
    not reported
    Filer's total
    $570,702

  • Mark Nichols

    DIRECTOR OF

    Total calculated
    $322,564
    From this org
    $250,752
    From related orgs
    $0
    Other
    $71,812
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $250,752
    Bonus
    not reported
    Other
    not reported
    Deferred
    $71,812
    Nontaxable benefits
    not reported
    Filer's total
    $322,564

  • Darin Farley

    DIRECTOR OF

    Total calculated
    $308,000
    From this org
    $246,135
    From related orgs
    $0
    Other
    $61,865
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $246,135
    Bonus
    not reported
    Other
    not reported
    Deferred
    $61,865
    Nontaxable benefits
    not reported
    Filer's total
    $308,000

  • Jonathan Cox

    DIRECTOR OF

    Total calculated
    $291,279
    From this org
    $220,090
    From related orgs
    $0
    Other
    $71,189
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,090
    Bonus
    not reported
    Other
    not reported
    Deferred
    $71,189
    Nontaxable benefits
    not reported
    Filer's total
    $291,279

  • Larry Johnson

    DIRECTOR OF

    Total calculated
    $286,544
    From this org
    $214,622
    From related orgs
    $0
    Other
    $71,922
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,622
    Bonus
    not reported
    Other
    not reported
    Deferred
    $71,922
    Nontaxable benefits
    not reported
    Filer's total
    $286,544

  • Jake Bellipanni

    DIRECTOR OF

    Total calculated
    $265,561
    From this org
    $194,372
    From related orgs
    $0
    Other
    $71,189
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $194,372
    Bonus
    not reported
    Other
    not reported
    Deferred
    $71,189
    Nontaxable benefits
    not reported
    Filer's total
    $265,561

  • Morris Thompson

    BOARD MEMBER

    Total calculated
    $29,000
    From this org
    $29,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.22

  • Don Dickerson

    SECRETARY

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.21

  • Tony Taylor

    BOARD MEMBER

    Total calculated
    $28,000
    From this org
    $28,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.19

  • Pat Woods

    PRESIDENT

    Total calculated
    $27,500
    From this org
    $27,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.33

  • Ricky Jones

    BOARD MEMBER

    Total calculated
    $27,000
    From this org
    $27,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.3

  • Julie Niblett

    BOARD MEMBER

    Total calculated
    $27,000
    From this org
    $27,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.08

  • Phil Lachaussee

    BOARD MEMBER

    Total calculated
    $25,500
    From this org
    $25,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.32

  • Jerry Nichols

    VICE PRESIDE

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.31

  • Kimberly Gordon

    BOARD MEMBER

    Total calculated
    $15,000
    From this org
    $15,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.96

  • Patrician Griffin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

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 · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 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

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.

  • NORTHCENTRAL CONNECT

    FIBER · MS

Provenance

Return type
form_990
Tax year
2023
Filed
4 February 2025
IRS schema version
2023v6.0
Source object
202540359349300114

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