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Nonprofiteer
← MID YELLOWSTONE ELECTRIC CO-OP INC

Form 990 for tax year 2023

Filed by MID YELLOWSTONE ELECTRIC CO-OP INC.

Totals

Total revenue
$3,867,096
Total expenses
$3,731,063
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,768,863
Investment income
$11,916
Other revenue
$86,317
Total assets, end of year
$10,772,043
Total liabilities, end of year
$3,371,572
Net assets or fund balances, end of year
$7,400,471
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: ELECTRIC SALES

    total $3,768,863 · related or exempt $3,768,863

  • 3 · Investment income

    total $11,916 · related or exempt $11,916

  • 6a · Gross rents

    real property $3,500

  • 6b · Less rental expenses

    real property $12,217

  • 6c · Rental income or loss

    real property -$8,717

  • 6d · Net rental income or loss

    total -$8,717 · related or exempt -$8,717

  • 11a · Other revenue: CAPITAL CREDIT ALLOCAT

    total $94,586 · related or exempt $94,586

  • 11b · Other revenue: OTHER NON-OPERATING MA

    total $448 · related or exempt $448

  • 11e · Other revenue, total

    $95,034

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $269,312

  • 5 · Compensation of officers, directors and key employees

    total $340,092

  • 7 · Other salaries and wages

    total $398,463

  • 8 · Pension plan contributions

    total $94,536

  • 9 · Other employee benefits

    total $166,681

  • 10 · Payroll taxes

    total $53,392

  • 11a · Fees: management

    total $139,350

  • 11b · Fees: legal

    total $20,881

  • 11c · Fees: accounting

    total $8,250

  • 11g · Fees: other

    total $10,564

  • 12 · Advertising and promotion

    total $6,612

  • 13 · Office expenses

    total $16,739

  • 14 · Information technology

    total $44,378

  • 16 · Occupancy

    total $16,771

  • 17 · Travel

    total $123,553

  • 19 · Conferences, conventions and meetings

    total $23,669

  • 20 · Interest

    total $119,040

  • 22 · Depreciation, depletion and amortization

    total $465,399

  • 23 · Insurance

    total $31,529

  • 24a · Other expenses: COST OF POWER

    total $1,094,253

  • 24b · Other expenses: DISTRIBUTION OPERATION

    total $154,263

  • 24c · Other expenses: ADMINISTRATIVE & GENERA

    total $52,749

  • 24d · Other expenses: TRANSMISSION OPERATION

    total $38,428

  • 24e · All other expenses

    total $42,159

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $86,920 · end of year $10,045

  • 2 · Savings and temporary cash investments

    beginning of year $139,690 · end of year $4,647

  • 4 · Accounts receivable

    beginning of year $259,673 · end of year $210,972

  • 8 · Inventories for sale or use

    beginning of year $424,747 · end of year $449,347

  • 9 · Prepaid expenses and deferred charges

    beginning of year $215,341 · end of year $190,059

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

    $18,588,774

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

    $9,383,409

  • 10c · Land, buildings and equipment, net

    beginning of year $8,701,802 · end of year $9,205,365

  • 13 · Investments: program-related

    beginning of year $557,629 · end of year $631,200

  • 15 · Other assets

    beginning of year $73,712 · end of year $70,408

  • 17 · Accounts payable and accrued expenses

    beginning of year $361,285 · end of year $441,247

  • 23 · Secured mortgages and notes payable

    beginning of year $2,606,950 · end of year $2,338,909

  • 24 · Unsecured notes and loans payable

    end of year $397,242

  • 25 · Other liabilities

    beginning of year $226,841 · end of year $194,174

  • 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 $6,966,714 · end of year $7,022,702

  • 31 · Retained earnings, endowment or other funds

    beginning of year $297,724 · end of year $377,769

Mission and programs · 2023

Mission

THE MISSION OF OUR COOPERATIVE IS TO PROVIDE A RELIABLE SOURCE OF ELECTRICITY TO OUR RURAL AREA AT THE LOWEST POSSIBLE COST.

Activities or mission (Part I)

RURAL ELECTRIC COOPERATIVE PROVIDING ELECTRIC POWER AND SERVICES TO ITS MEMBERS LOCATED IN RURAL EASTERN MONTANA.

  • PROVIDING ELECTRIC SERVICE TO APPROXIMATELY 2040 METERS BELONGING TO APPROXIMATELY 740 MEMBERS IN RURAL AREAS OF MONTANA.

As filed on the 2023 return.

Listed in Part VII

  • Jerry Decock

    TRUSTEE

    Total calculated
    $1,250
    From this org
    $1,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.6

  • Timothy J Fulton

    TRUSTEE-PRESIDENT

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Arlo F Jensen

    TRUSTEE

    Total calculated
    $750
    From this org
    $750
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.3

  • Steven F Nile

    TRUSTEE

    Total calculated
    $3,250
    From this org
    $3,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Richard E Pinkerton

    TRUSTEE

    Total calculated
    $9,750
    From this org
    $9,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Joseph J Schiffer

    TRUSTEE- VICE PRESIDENT

    Total calculated
    $5,500
    From this org
    $5,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Reese E Stahl

    TRUSTEE

    Total calculated
    $4,250
    From this org
    $4,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • James Allen Baue

    TRUSTEE-SECRETARY TREASURER

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Marjorie W Cunningham

    CFO

    Total calculated
    $134,495
    From this org
    $80,458
    From related orgs
    $0
    Other
    $54,037
    Hours/week
    40

  • Kenneth L Rolandson

    COO

    Total calculated
    $171,347
    From this org
    $108,735
    From related orgs
    $0
    Other
    $62,612
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,628
    Bonus
    $0
    Other
    $5,107
    Deferred
    $33,085
    Nontaxable benefits
    $29,527
    Filer's total
    $171,347

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

  • 2 · Substantiation required before reimbursing expenses

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.

Provenance

Return type
form_990
Tax year
2023
Filed
16 May 2024
IRS schema version
2023v5.0
Source object
202411499349301071

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