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Nonprofiteer
← PRAIRIE LAND ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by PRAIRIE LAND ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$65,588,314
Total expenses
$65,588,314
Contributions and grants received
$0
Grants paid
$30,164
Program service revenue
$65,129,534
Investment income
$266,830
Other revenue
$191,950
Total assets, end of year
$197,680,042
Total liabilities, end of year
$107,152,489
Net assets or fund balances, end of year
$90,527,553
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: SALES OF ELECTRICITY

    total $61,029,017 · related or exempt $61,029,017

  • 2b · Program service revenue: PATRONAGE DIVIDENDS

    total $2,266,809 · related or exempt $2,266,809

  • 2c · Program service revenue: SERVICE FEES

    total $1,655,615 · related or exempt $1,655,615

  • 2d · Program service revenue: OTHER PROGRAM REVENUES

    total $178,093 · related or exempt $178,093

  • 3 · Investment income

    total $147,872 · excluded $147,872

  • 7a · Gross sales of assets other than inventory

    other assets $124,567

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

    other assets $5,609

  • 7c · Gain or loss

    other assets $118,958

  • 7d · Net gain or loss

    total $118,958 · related or exempt $118,958

  • 11a · Other revenue: MERCHANDISING/HVAC JOBBING

    total $177,642 · related or exempt $76,386 · unrelated business $101,256

  • 11b · Other revenue: POLE ATTACHMENT INCOME

    total $13,113 · excluded $13,113

  • 11c · Other revenue: MISC. NON-OPERATING INCOME

    total $1,195 · excluded $1,195

  • 11e · Other revenue, total

    $191,950

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,164

  • 4 · Benefits paid to or for members

    total $5,114,578

  • 5 · Compensation of officers, directors and key employees

    total $1,553,107

  • 7 · Other salaries and wages

    total $4,648,493

  • 8 · Pension plan contributions

    total $1,111,208

  • 9 · Other employee benefits

    total $1,238,023

  • 10 · Payroll taxes

    total $403,906

  • 20 · Interest

    total $4,235,239

  • 22 · Depreciation, depletion and amortization

    total $7,260,202

  • 24a · Other expenses: PURCHASED POWER

    total $34,314,698

  • 24b · Other expenses: DISTRIBUTION EXPENSE

    total $3,784,083

  • 24c · Other expenses: ADMINISTRATIVE & GENERA

    total $3,461,662

  • 24d · Other expenses: OTHER DEDUCTIONS

    total $307,726

  • 24e · All other expenses

    total -$1,874,775

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,485,777 · end of year $1,757,406

  • 2 · Savings and temporary cash investments

    beginning of year $5,718,141 · end of year $54,596

  • 4 · Accounts receivable

    beginning of year $5,590,570 · end of year $6,418,535

  • 7 · Other notes and loans receivable

    beginning of year $140,268 · end of year $173,476

  • 8 · Inventories for sale or use

    beginning of year $2,036,548 · end of year $3,768,363

  • 9 · Prepaid expenses and deferred charges

    beginning of year $593,565 · end of year $472,358

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

    $211,145,267

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

    $80,416,983

  • 10c · Land, buildings and equipment, net

    beginning of year $122,453,888 · end of year $130,728,284

  • 13 · Investments: program-related

    beginning of year $51,317,782 · end of year $52,020,677

  • 15 · Other assets

    beginning of year $5,665,608 · end of year $2,286,347

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,475,342 · end of year $9,192,167

  • 23 · Secured mortgages and notes payable

    beginning of year $99,970,549 · end of year $96,716,111

  • 25 · Other liabilities

    beginning of year $1,610,347 · end of year $1,244,211

  • 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 $87,945,909 · end of year $90,527,553

Mission and programs · 2023

Mission

TO IMPROVE THE QUALITY OF LIFE FOR OUR MEMBERS AND SUPPORT OUR COMMUNITIES BY PROVIDING SAFE, RELIABLE ENERGY SERVICES AND EDUCATION.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 24,630 ACTIVE SERVICES AT YEAR END.

As filed on the 2023 return.

Listed in Part VII

  • Sandra Benoit

    SECRETARY

    Total calculated
    $17,500
    From this org
    $17,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    16.9

  • Ivan Bohl

    TRUSTEE

    Total calculated
    $11,550
    From this org
    $11,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.1

  • Jerry Gallagher

    TRUSTEE (JAN-MAR)

    Total calculated
    $3,150
    From this org
    $3,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.8

  • Ronald Griffith

    PRESIDENT

    Total calculated
    $20,650
    From this org
    $20,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Otto Levin

    TRUSTEE

    Total calculated
    $10,150
    From this org
    $10,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Robert Paxson

    TREASURER

    Total calculated
    $11,900
    From this org
    $11,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • William Peterson

    TRUSTEE

    Total calculated
    $15,750
    From this org
    $15,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

  • Mike Rogers

    VICE PRESIDENT

    Total calculated
    $11,200
    From this org
    $11,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.5

  • Keith Ross

    TRUSTEE

    Total calculated
    $21,000
    From this org
    $21,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.5

  • Lowell Thoman

    TRUSTEE (APR-DEC)

    Total calculated
    $8,050
    From this org
    $8,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Scott Urban

    TRUSTEE

    Total calculated
    $9,800
    From this org
    $9,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.8

  • Eric Witmer

    TRUSTEE

    Total calculated
    $12,950
    From this org
    $12,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Kirk Girard

    CEO

    Total calculated
    $548,481
    From this org
    $283,909
    From related orgs
    $0
    Other
    $264,572
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $276,061
    Bonus
    $0
    Other
    $7,848
    Deferred
    $239,705
    Nontaxable benefits
    $24,867
    Filer's total
    $548,481

  • Alisha Stark

    CFO

    Total calculated
    $284,174
    From this org
    $189,380
    From related orgs
    $0
    Other
    $94,794
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $188,366
    Bonus
    $0
    Other
    $1,014
    Deferred
    $63,684
    Nontaxable benefits
    $31,110
    Filer's total
    $284,174

  • James Coash

    OPERATIONS MANAGER - EAST

    Total calculated
    $290,024
    From this org
    $184,162
    From related orgs
    $0
    Other
    $105,862
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,889
    Bonus
    $0
    Other
    $8,273
    Deferred
    $84,239
    Nontaxable benefits
    $21,623
    Filer's total
    $290,024

  • Lon Dean Wiseman

    OPERATIONS MANAGER - WEST

    Total calculated
    $276,778
    From this org
    $184,791
    From related orgs
    $0
    Other
    $91,987
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $173,533
    Bonus
    $0
    Other
    $11,258
    Deferred
    $68,008
    Nontaxable benefits
    $23,979
    Filer's total
    $276,778

  • Shane Schumaker

    DIRECTOR OF TECHNICAL SERVICES

    Total calculated
    $217,912
    From this org
    $149,915
    From related orgs
    $0
    Other
    $67,997
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $148,957
    Bonus
    $0
    Other
    $958
    Deferred
    $36,830
    Nontaxable benefits
    $31,167
    Filer's total
    $217,912

  • April Karnopp

    DIRECTOR OF ADMINISTRATION

    Total calculated
    $235,342
    From this org
    $141,507
    From related orgs
    $0
    Other
    $93,835
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $139,657
    Bonus
    $0
    Other
    $1,850
    Deferred
    $60,389
    Nontaxable benefits
    $33,446
    Filer's total
    $235,342

  • David Tiemeyer

    AREA SUPERVISOR

    Total calculated
    $198,771
    From this org
    $127,714
    From related orgs
    $0
    Other
    $71,057
    Hours/week
    45.9

    Schedule J breakdown matched by us

    Base
    $126,574
    Bonus
    $0
    Other
    $1,140
    Deferred
    $51,086
    Nontaxable benefits
    $19,971
    Filer's total
    $198,771

  • Brett McChesney

    CONSTRUCTION FOREMAN

    Total calculated
    $165,761
    From this org
    $125,000
    From related orgs
    $0
    Other
    $40,761
    Hours/week
    47.4

    Schedule J breakdown matched by us

    Base
    $123,803
    Bonus
    $0
    Other
    $1,197
    Deferred
    $20,312
    Nontaxable benefits
    $20,449
    Filer's total
    $165,761

  • Brandon Blue

    AREA SUPERVISOR

    Total calculated
    $167,385
    From this org
    $122,928
    From related orgs
    $0
    Other
    $44,457
    Hours/week
    43.8

    Schedule J breakdown matched by us

    Base
    $120,967
    Bonus
    $0
    Other
    $1,961
    Deferred
    $13,938
    Nontaxable benefits
    $30,519
    Filer's total
    $167,385

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 · Independent compensation consultant
  • 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 II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. KIRK GIRARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 231,317 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,388 TOTAL REPORTED IN COLUMN C $ 239,705 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (231,317) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 88,152 EXPENSE TO THE COOPERATIVE $ 96,540 JAMES COASH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 78,932 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,307 TOTAL REPORTED IN COLUMN C $ 84,239 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (78,932) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,477 EXPENSE TO THE COOPERATIVE $ 34,784 ALISHA STARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 57,997 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,687 TOTAL REPORTED IN COLUMN C $ 63,684 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (57,997) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 60,237 EXPENSE TO THE COOPERATIVE $ 65,924 LON DEAN WISEMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 62,701 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,307 TOTAL REPORTED IN COLUMN C $ 68,008 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (62,701) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 56,251 EXPENSE TO THE COOPERATIVE $ 61,558 APRIL KARNOPP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,084 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,305 TOTAL REPORTED IN COLUMN C $ 60,389 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (56,084) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,603 EXPENSE TO THE COOPERATIVE $ 49,908 SHANE SCHUMAKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,315 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,515 TOTAL REPORTED IN COLUMN C $ 36,830 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,315) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,689 EXPENSE TO THE COOPERATIVE $ 52,204 DAVID TIEMEYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,715 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,371 TOTAL REPORTED IN COLUMN C $ 51,086 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,715) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,732 EXPENSE TO THE COOPERATIVE $ 39,103 BRANDON BLUE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,642 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,296 TOTAL REPORTED IN COLUMN C $ 13,938 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,642) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,935 EXPENSE TO THE COOPERATIVE $ 38,231 BRETT MCCHESNEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,170 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,142 TOTAL REPORTED IN COLUMN C $ 20,312 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,170) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,303 EXPENSE TO THE COOPERATIVE $ 36,445

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.

  • PRAIRIE LAND PLUS INC

    C · DORMANT CORPORATION · KS · 100% owned · controlled entity

    Directly controlled by PRAIRIE LAND ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2023
Filed
22 October 2024
IRS schema version
2023v5.1
Source object
202422979349301112

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