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Nonprofiteer
← ADAMS-COLUMBIA ELECTRIC CO-OP

Form 990 for tax year 2023

Filed by ADAMS-COLUMBIA ELECTRIC CO-OP.

Totals

Total revenue
$86,231,995
Total expenses
$86,095,341
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$83,779,419
Investment income
$1,186,016
Other revenue
$1,266,560
Total assets, end of year
$255,167,724
Total liabilities, end of year
$144,181,717
Net assets or fund balances, end of year
$110,986,007
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: ELECTRIC REVENUES

    total $82,772,686 · related or exempt $82,772,686

  • 2b · Program service revenue: CAPITAL CREDITS AND POLE RENT

    total $1,006,733 · excluded $1,006,733

  • 3 · Investment income

    total $403,099 · excluded $403,099

  • 7a · Gross sales of assets other than inventory

    other assets $5,434,127

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

    other assets $4,651,210

  • 7c · Gain or loss

    other assets $782,917

  • 7d · Net gain or loss

    total $782,917 · related or exempt $782,917

  • 10a · Gross sales of inventory

    $42,536

  • 10c · Net income from sales of inventory

    total $42,536 · unrelated business $42,536

  • 11a · Other revenue: ATC ALLOCATION

    total $1,188,491 · excluded $1,188,491

  • 11b · Other revenue: IRP AND ECONOMIC DEVELOPMENT

    total $35,560 · excluded $35,560

  • 11c · Other revenue: MIDWISCONSIN DBS, LLC

    total -$27 · unrelated business -$27

  • 11e · Other revenue, total

    $1,224,024

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $6,628,672

  • 5 · Compensation of officers, directors and key employees

    total $383,887

  • 20 · Interest

    total $5,154,921

  • 22 · Depreciation, depletion and amortization

    total $9,819,561

  • 24a · Other expenses: COST OF POWER

    total $49,274,436

  • 24b · Other expenses: MAINTENANCE EXPENSE

    total $4,060,029

  • 24c · Other expenses: OPERATIONS EXPENSE

    total $3,732,132

  • 24d · Other expenses: ADMIN & GENERAL

    total $3,026,696

  • 24e · All other expenses

    total $4,015,007

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $712,701 · end of year $1,184,735

  • 2 · Savings and temporary cash investments

    beginning of year $3,627,673 · end of year $3,133,240

  • 4 · Accounts receivable

    beginning of year $8,841,658 · end of year $8,104,733

  • 7 · Other notes and loans receivable

    beginning of year $1,048,630 · end of year $933,938

  • 8 · Inventories for sale or use

    beginning of year $3,025,846 · end of year $3,763,138

  • 9 · Prepaid expenses and deferred charges

    beginning of year $473,425 · end of year $457,561

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

    $304,757,371

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

    $95,050,411

  • 10c · Land, buildings and equipment, net

    beginning of year $202,717,198 · end of year $209,706,960

  • 12 · Investments: other securities

    beginning of year $1,555,679 · end of year $1,510,854

  • 13 · Investments: program-related

    beginning of year $25,355,297 · end of year $26,023,600

  • 15 · Other assets

    beginning of year $352,478 · end of year $348,965

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,811,656 · end of year $5,017,719

  • 23 · Secured mortgages and notes payable

    beginning of year $124,854,282 · end of year $132,368,980

  • 25 · Other liabilities

    beginning of year $6,437,737 · end of year $6,795,018

  • 31 · Retained earnings, endowment or other funds

    beginning of year $111,606,910 · end of year $110,986,007

Mission and programs · 2023

Mission

TO SUPPLY ELECTRICITY TO ITS MEMBERS.

  • SUPPLYING ELECTRICITY TO ITS MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • JOHN WEST

    GENERAL MANA

    Total calculated
    $321,262
    From this org
    $250,765
    From related orgs
    $0
    Other
    $70,497
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $250,765
    Bonus
    not reported
    Other
    not reported
    Deferred
    $47,247
    Nontaxable benefits
    $23,250
    Filer's total
    $321,262

  • JON CONGDON

    GENERAL MANA

    Total calculated
    $260,615
    From this org
    $182,383
    From related orgs
    $0
    Other
    $78,232
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $182,383
    Bonus
    not reported
    Other
    not reported
    Deferred
    $49,730
    Nontaxable benefits
    $28,502
    Filer's total
    $260,615

  • ELIZABETH HENDRICKSEN

    FIN MANAGER

    Total calculated
    $201,812
    From this org
    $154,115
    From related orgs
    $0
    Other
    $47,697
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $154,115
    Bonus
    not reported
    Other
    not reported
    Deferred
    $28,729
    Nontaxable benefits
    $18,968
    Filer's total
    $201,812

  • MINDY KERSKA

    MEM SVCS/TRA

    Total calculated
    $196,052
    From this org
    $148,311
    From related orgs
    $0
    Other
    $47,741
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $148,311
    Bonus
    not reported
    Other
    not reported
    Deferred
    $37,099
    Nontaxable benefits
    $10,642
    Filer's total
    $196,052

  • JOSHUA BERGER

    OPER & ENGR

    Total calculated
    $189,257
    From this org
    $134,232
    From related orgs
    $0
    Other
    $55,025
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $134,232
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,523
    Nontaxable benefits
    $28,502
    Filer's total
    $189,257

  • SHAWN PIETRZAK

    OPER SUPERVI

    Total calculated
    $178,153
    From this org
    $137,969
    From related orgs
    $0
    Other
    $40,184
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $137,969
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,934
    Nontaxable benefits
    $23,250
    Filer's total
    $178,153

  • KENDAL NICHOLS

    EX DIRECTOR

    Total calculated
    $55,746
    From this org
    $20,647
    From related orgs
    $0
    Other
    $35,099

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $20,647
    Deferred
    $35,099
    Nontaxable benefits
    not reported
    Filer's total
    $55,746

  • MARJORIE COLBY

    EX DIRECTOR

    Total calculated
    $23,892
    From this org
    $14,283
    From related orgs
    $0
    Other
    $9,609

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $14,283
    Deferred
    $9,609
    Nontaxable benefits
    not reported
    Filer's total
    $23,892

  • AARON HOERNKE

    DIRECTOR - C

    Total calculated
    $14,250
    From this org
    $14,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.8

  • GARY SKOLARZ

    DIRECTOR - S

    Total calculated
    $9,600
    From this org
    $9,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.6

  • AARON BONNETT

    DIRECTOR

    Total calculated
    $8,400
    From this org
    $8,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6

  • JON EBERT

    DIRECTOR

    Total calculated
    $7,350
    From this org
    $7,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • ETHAN OLSON

    DIRECTOR -VI

    Total calculated
    $7,050
    From this org
    $7,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4

  • ADAM JONES

    DIRECTOR - T

    Total calculated
    $6,975
    From this org
    $6,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

  • RENEE WENDT

    DIRECTOR (MA

    Total calculated
    $6,100
    From this org
    $6,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • JAMES KELLY

    DIRECTOR (JA

    Total calculated
    $2,900
    From this org
    $2,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.9

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 · Independent compensation consultant
  • 3 · Written employment contract
  • 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

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
9 August 2024
IRS schema version
2023v5.0
Source object
202432549349301853

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