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Nonprofiteer
← PRESQUE ISLE ELECTRIC & GAS CO-OP

Form 990 for tax year 2024

Filed by PRESQUE ISLE ELECTRIC & GAS CO-OP.

Totals

Total revenue
$69,694,072
Total expenses
$72,634,911
Contributions and grants received
$1,126,354
Grants paid
$0
Program service revenue
$69,208,608
Investment income
-$666,413
Other revenue
$25,523
Total assets, end of year
$240,193,551
Total liabilities, end of year
$185,248,192
Net assets or fund balances, end of year
$54,945,359
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.

  • 1e · Government grants (contributions)

    $1,126,354

  • 2a · Program service revenue: Electric & Gas Sales

    total $60,583,958 · related or exempt $60,583,958

  • 2b · Program service revenue: Broadband Services

    total $4,437,128 · related or exempt $4,437,128

  • 2c · Program service revenue: Capital Credits

    total $2,848,308 · related or exempt $2,848,308

  • 2d · Program service revenue: Other Member Services

    total $599,026 · related or exempt $599,026

  • 2f · All other program service revenue

    total $740,188 · related or exempt $740,188

  • 3 · Investment income

    total $46,385 · excluded $46,385

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

    other assets $712,798

  • 7c · Gain or loss

    other assets -$712,798

  • 7d · Net gain or loss

    total -$712,798 · excluded -$712,798

  • 10a · Gross sales of inventory

    $79,020

  • 10b · Cost of goods sold

    $53,497

  • 10c · Net income from sales of inventory

    total $25,523 · related or exempt $25,523

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,718,463

  • 5 · Compensation of officers, directors and key employees

    total $933,331

  • 7 · Other salaries and wages

    total $9,405,820

  • 8 · Pension plan contributions

    total $986,289

  • 10 · Payroll taxes

    total $767,174

  • 20 · Interest

    total $7,923,369

  • 22 · Depreciation, depletion and amortization

    total $7,801,667

  • 24a · Other expenses: Cost of Energy

    total $28,479,172

  • 24b · Other expenses: Distribution - Ops & Ma

    total $9,164,714

  • 24c · Other expenses: Administrative and Gene

    total $4,172,045

  • 24d · Other expenses: Customers Accounts & Se

    total $3,552,324

  • 24e · All other expenses

    total -$7,269,457

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $208,996 · end of year $625,157

  • 2 · Savings and temporary cash investments

    beginning of year $5,081,755 · end of year $3,226,397

  • 4 · Accounts receivable

    beginning of year $6,476,997 · end of year $8,533,804

  • 8 · Inventories for sale or use

    beginning of year $16,175,199 · end of year $13,324,349

  • 9 · Prepaid expenses and deferred charges

    beginning of year $295,118 · end of year $573,735

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

    $270,681,591

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

    $89,812,516

  • 10c · Land, buildings and equipment, net

    beginning of year $159,510,220 · end of year $180,869,075

  • 14 · Intangible assets

    beginning of year $3,657,871 · end of year $2,813,747

  • 15 · Other assets

    beginning of year $28,078,006 · end of year $30,227,287

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,054,351 · end of year $8,217,575

  • 19 · Deferred revenue

    beginning of year $501,801 · end of year $512,688

  • 21 · Escrow or custodial account liability

    beginning of year $3,384 · end of year $4,469

  • 23 · Secured mortgages and notes payable

    beginning of year $140,733,265 · end of year $151,953,368

  • 24 · Unsecured notes and loans payable

    beginning of year $15,055,338 · end of year $21,869,838

  • 25 · Other liabilities

    beginning of year $1,943,410 · end of year $2,690,254

  • 29 · Capital stock, trust principal or current funds

    beginning of year $325,255 · end of year $332,540

  • 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 $50,867,358 · end of year $54,612,819

Mission and programs · 2024

Mission

To provide energy and other services to sustain and improve the quality of life for our members through the use of a cooperative business structure.

  • The Presque Isle Electric & Gas Co-op served 35,392 electric members and 13,531 natural gas members.

As filed on the 2024 return.

Listed in Part VII

  • Allan Berg

    President & CEO (As of May 2024)

    Total calculated
    $230,035
    From this org
    $216,045
    From related orgs
    $0
    Other
    $13,990
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,618
    Bonus
    $0
    Other
    $2,427
    Deferred
    $0
    Nontaxable benefits
    $16,032
    Filer's total
    $232,077

  • John Brown

    Vice Chairman/Chairman/Director

    Total calculated
    $14,240
    From this org
    $14,240
    From related orgs
    $0
    Other
    $0
    Hours/week
    14

  • Sandra Borowicz

    Secretary/Chairman

    Total calculated
    $14,480
    From this org
    $14,480
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Sally Knopf

    Director/Secretary

    Total calculated
    $12,320
    From this org
    $12,320
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Brentt Lucas

    Treasurer

    Total calculated
    $14,280
    From this org
    $14,280
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Daryl Peterson

    Director/Vice Chairman

    Total calculated
    $12,390
    From this org
    $12,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.5

  • Christopher Nagel

    Director

    Total calculated
    $14,210
    From this org
    $14,210
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Gerald Smigelski

    Director (As of Nov 2024)

    Total calculated
    $920
    From this org
    $920
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Kurt Krajniak

    Director

    Total calculated
    $13,740
    From this org
    $13,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.3

  • Raymond Wozniak

    Director

    Total calculated
    $11,850
    From this org
    $11,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Thomas Sobeck

    President & CEO (Until June 2024)

    Total calculated
    $220,848
    From this org
    $192,780
    From related orgs
    $0
    Other
    $28,068
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $188,090
    Bonus
    $0
    Other
    $4,690
    Deferred
    $19,252
    Nontaxable benefits
    $10,334
    Filer's total
    $222,366

  • Randy Stempky

    CFO

    Total calculated
    $192,302
    From this org
    $121,637
    From related orgs
    $0
    Other
    $70,665
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $119,966
    Bonus
    $0
    Other
    $1,671
    Deferred
    $32,633
    Nontaxable benefits
    $39,657
    Filer's total
    $193,927

  • Richard Kieliszewski

    Director Info Tech(Until Aug 2024)

    Total calculated
    $170,549
    From this org
    $157,110
    From related orgs
    $0
    Other
    $13,439
    Hours/week
    50.4

    Schedule J breakdown matched by us

    Base
    $156,456
    Bonus
    $0
    Other
    $654
    Deferred
    $13,218
    Nontaxable benefits
    $1,313
    Filer's total
    $171,641

  • Thomas Lupu

    Working Foreman

    Total calculated
    $217,655
    From this org
    $180,620
    From related orgs
    $0
    Other
    $37,035
    Hours/week
    56.5

    Schedule J breakdown matched by us

    Base
    $179,734
    Bonus
    $60
    Other
    $826
    Deferred
    $10,791
    Nontaxable benefits
    $28,038
    Filer's total
    $219,449

  • Thomas Pauly

    Class A Lineman

    Total calculated
    $220,310
    From this org
    $177,596
    From related orgs
    $0
    Other
    $42,714
    Hours/week
    56.7

    Schedule J breakdown matched by us

    Base
    $177,308
    Bonus
    $0
    Other
    $288
    Deferred
    $10,457
    Nontaxable benefits
    $34,051
    Filer's total
    $222,104

  • Kenniston Butler

    Working Foreman

    Total calculated
    $217,028
    From this org
    $173,801
    From related orgs
    $0
    Other
    $43,227
    Hours/week
    53.7

    Schedule J breakdown matched by us

    Base
    $173,296
    Bonus
    $30
    Other
    $475
    Deferred
    $10,969
    Nontaxable benefits
    $34,118
    Filer's total
    $218,888

  • Jason Tribisondi

    Class A Lineman

    Total calculated
    $172,484
    From this org
    $161,793
    From related orgs
    $0
    Other
    $10,691
    Hours/week
    51.6

    Schedule J breakdown matched by us

    Base
    $161,678
    Bonus
    $0
    Other
    $115
    Deferred
    $10,498
    Nontaxable benefits
    $1,986
    Filer's total
    $174,277

  • Donald Lalonde

    Staking Engineer

    Total calculated
    $182,152
    From this org
    $160,938
    From related orgs
    $0
    Other
    $21,214
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $160,082
    Bonus
    $30
    Other
    $826
    Deferred
    $10,093
    Nontaxable benefits
    $12,915
    Filer's total
    $183,946

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 · 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)

Schedule J, Part II, Column C:
Compensation of Officers, Directors, Key Employee, Highest Compensated Employees: Included in other compensation for the CFO is the estimated current year increase in the actuarial value of the defined benefit plan. These amounts do not represent any current year contributions to the plan. They are estimates of the increase in the actuarial value of the plans received from the NRECA. The current year expense and the increase in actuarial value for each employee are reflected in the statement for Form 990, Part VII, Column f.

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.

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.

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.

  • Presque Isle Aurora Gas Assets

    C · Gas Assets · MI · 100% owned · share of income $256,575 · share of assets $1,647,600 · controlled entity

    Directly controlled by Presque Isle Gas & Electric Co-op

Provenance

Return type
form_990
Tax year
2024
Filed
4 November 2025
IRS schema version
2024v5.2
Source object
202503109349301925

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