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Nonprofiteer
← NORVAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by NORVAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$8,465,854
Total expenses
$8,465,854
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,994,147
Investment income
$57,176
Other revenue
$414,531
Total assets, end of year
$31,894,140
Total liabilities, end of year
$13,154,651
Net assets or fund balances, end of year
$18,739,489
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% 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: Sale of Electricity

    total $7,994,147 · related or exempt $7,994,147 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $57,176 · related or exempt $57,176 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: G&T Capital Credits - CMEPC

    total $119,254 · related or exempt $119,254 · unrelated business $0 · excluded $0

  • 11b · Other revenue: G&T Capital Credits - BEPC

    total $236,472 · related or exempt $236,472 · unrelated business $0 · excluded $0

  • 11c · Other revenue: Other Capital Credits

    total $58,805 · related or exempt $58,805 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $414,531

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $441,589

  • 5 · Compensation of officers, directors and key employees

    total $630,863

  • 7 · Other salaries and wages

    total $880,749

  • 8 · Pension plan contributions

    total $233,638

  • 9 · Other employee benefits

    total $403,325

  • 10 · Payroll taxes

    total $121,111

  • 11a · Fees: management

    total $155,888

  • 11b · Fees: legal

    total $28,714

  • 11c · Fees: accounting

    total $21,475

  • 12 · Advertising and promotion

    total $12,215

  • 13 · Office expenses

    total $16,716

  • 14 · Information technology

    total $9,273

  • 20 · Interest

    total $532,976

  • 22 · Depreciation, depletion and amortization

    total $1,432,955

  • 23 · Insurance

    total $127,215

  • 24a · Other expenses: Cost of Purchased Power

    total $2,332,160

  • 24b · Other expenses: Property Tax

    total $473,817

  • 24c · Other expenses: Engineering

    total $32,607

  • 24d · Other expenses: Office Remodel

    total $34,497

  • 24e · All other expenses

    total $544,071

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $728,701 · end of year $1,575,482

  • 2 · Savings and temporary cash investments

    beginning of year $126,463 · end of year $1,057,768

  • 4 · Accounts receivable

    beginning of year $1,055,427 · end of year $1,109,300

  • 8 · Inventories for sale or use

    beginning of year $1,688,026 · end of year $2,205,789

  • 9 · Prepaid expenses and deferred charges

    beginning of year $120,789 · end of year $141,817

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

    $44,227,856

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

    $21,364,620

  • 10c · Land, buildings and equipment, net

    beginning of year $23,547,249 · end of year $22,863,236

  • 13 · Investments: program-related

    beginning of year $2,685,345 · end of year $2,886,591

  • 15 · Other assets

    beginning of year $47,792 · end of year $54,157

  • 17 · Accounts payable and accrued expenses

    beginning of year $298,106 · end of year $716,969

  • 23 · Secured mortgages and notes payable

    beginning of year $11,861,576 · end of year $11,475,301

  • 25 · Other liabilities

    beginning of year $898,997 · end of year $962,381

  • 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 $16,941,113 · end of year $18,739,489

Mission and programs · 2024

Mission

To provide electricity to rural farms, residences, businesses and other industrial entities in Northeastern Montana.

Activities or mission (Part I)

Electric Utility cooperative serving rural residences, farms, businesses and other industrial accounts located in Daniels, McCone, Phillips, Roosevelt and Valley Counties.

  • To provide electricity to rural farms, residences, businesses and other industrial entities in Northeast Montana.

As filed on the 2024 return.

Listed in Part VII

  • Nicholas Dulaney

    Line Superintendent

    Total calculated
    $126,289
    From this org
    $126,289
    From related orgs
    $0
    Other
    $0
    Hours/week
    45

  • Cody Odom

    Foreman

    Total calculated
    $118,678
    From this org
    $118,678
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jayson Nelson

    Foreman

    Total calculated
    $118,677
    From this org
    $118,677
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jace Young

    Lineman

    Total calculated
    $110,716
    From this org
    $110,716
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Ryan Bergtoll

    Lineman

    Total calculated
    $109,853
    From this org
    $109,853
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Rick Stahl

    Director

    Total calculated
    $8,825
    From this org
    $8,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Chris Christensen

    President

    Total calculated
    $8,250
    From this org
    $8,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Rocky Kittleson

    Secretary/Treasurer

    Total calculated
    $6,475
    From this org
    $6,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Sam Gundermann

    Director

    Total calculated
    $6,150
    From this org
    $6,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ronald Reddig

    Director

    Total calculated
    $5,950
    From this org
    $5,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Richard Molvig

    Vice President

    Total calculated
    $5,825
    From this org
    $5,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Kevin Nelson

    Director

    Total calculated
    $4,125
    From this org
    $4,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Brian Miller

    Director

    Total calculated
    $1,050
    From this org
    $1,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
30 April 2025
IRS schema version
2024v5.0
Source object
202521209349302962

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