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Nonprofiteer
← CORE ELECTRIC COOPERATIVE

Form 990 for tax year 2025

Filed by CORE ELECTRIC COOPERATIVE.

Totals

Total revenue
$395,698,587
Total expenses
$395,698,587
Contributions and grants received
$0
Grants paid
$548,150
Program service revenue
$391,866,708
Investment income
$2,191,893
Other revenue
$1,639,986
Total assets, end of year
$1,474,720,645
Total liabilities, end of year
$1,056,982,336
Net assets or fund balances, end of year
$417,738,309
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: ELECTRICITY SALES

    total $380,483,741 · related or exempt $380,483,741

  • 2b · Program service revenue: SALES FOR RESALE

    total $4,702,371 · related or exempt $4,702,371

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $4,273,779 · related or exempt $4,273,779

  • 2d · Program service revenue: SERVICE FEES

    total $1,349,324 · related or exempt $1,349,324

  • 2e · Program service revenue: RENEWABLE ENERGY CERTIFICATE SALE

    total $786,363 · related or exempt $786,363

  • 2f · All other program service revenue

    total $271,130 · related or exempt $271,130

  • 3 · Investment income

    total $2,155,631 · excluded $2,155,631

  • 6a · Gross rents

    real property $12,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $12,000

  • 6d · Net rental income or loss

    total $12,000 · excluded $12,000

  • 7a · Gross sales of assets other than inventory

    other assets $36,262

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

    other assets $0

  • 7c · Gain or loss

    other assets $36,262

  • 7d · Net gain or loss

    total $36,262 · related or exempt $36,262

  • 11a · Other revenue: POLE ATTACHMENT INCOME

    total $1,260,992 · excluded $1,260,992

  • 11b · Other revenue: MISCELLANEOUS NON-OPERATING INCOM

    total $366,994 · related or exempt $366,994

  • 11e · Other revenue, total

    $1,627,986

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $548,150

  • 4 · Benefits paid to or for members

    total $34,333,390

  • 5 · Compensation of officers, directors and key employees

    total $6,042,495

  • 7 · Other salaries and wages

    total $25,623,137

  • 8 · Pension plan contributions

    total $3,528,535

  • 9 · Other employee benefits

    total $5,406,640

  • 10 · Payroll taxes

    total $1,899,729

  • 20 · Interest

    total $41,358,012

  • 22 · Depreciation, depletion and amortization

    total $64,932,827

  • 24a · Other expenses: PURCHASED POWER

    total $142,643,624

  • 24b · Other expenses: POWER PRODUCTION EXPENS

    total $24,391,901

  • 24c · Other expenses: ADMINISTRATIVE & GENERA

    total $15,248,896

  • 24d · Other expenses: DISTRIBUTION EXPENSE

    total $13,678,715

  • 24e · All other expenses

    total $16,062,536

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $62,192,236 · end of year $37,153,793

  • 2 · Savings and temporary cash investments

    beginning of year $989,000 · end of year $200,000

  • 4 · Accounts receivable

    beginning of year $16,573,127 · end of year $17,392,502

  • 8 · Inventories for sale or use

    beginning of year $30,369,141 · end of year $27,540,801

  • 9 · Prepaid expenses and deferred charges

    beginning of year $12,475,063 · end of year $191,278,272

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

    $1,862,731,750

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

    $729,411,672

  • 10c · Land, buildings and equipment, net

    beginning of year $1,255,619,073 · end of year $1,133,320,078

  • 13 · Investments: program-related

    beginning of year $38,223,913 · end of year $39,725,316

  • 15 · Other assets

    beginning of year $23,855,451 · end of year $28,109,883

  • 17 · Accounts payable and accrued expenses

    beginning of year $60,746,554 · end of year $52,480,692

  • 19 · Deferred revenue

    beginning of year $59,500,000 · end of year $75,000,000

  • 23 · Secured mortgages and notes payable

    beginning of year $876,897,338 · end of year $879,499,979

  • 25 · Other liabilities

    beginning of year $35,257,794 · end of year $50,001,665

  • 29 · Capital stock, trust principal or current funds

    beginning of year $764,425 · end of year $764,425

  • 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 $407,130,893 · end of year $416,973,884

Mission and programs · 2025

Mission

THE FOLLOWING MISSION STATEMENT GUIDES THE COOPERATIVE IN FULFILLING ITS TAX EXEMPT PURPOSE OF PROVIDING QUALITY AND RELIABLE ELECTRIC SERVICE TO OUR MEMBER-CONSUMERS: IMPROVING LIVES AND COMMUNITIES THROUGH CHOICE AND INNOVATION.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS OF THE COOPERATIVE.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 182,993 ACTIVE SERVICES LOCATED IN PORTIONS OF 11 COUNTIES SURROUNDING THE DENVER, COLORADO AREA AT YEAR END.

As filed on the 2025 return.

Listed in Part VII

  • TIMOTHY L WHITE

    PRESIDENT

    Total calculated
    $70,310
    From this org
    $70,310
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • BRUFF SHEA

    DIRECTOR

    Total calculated
    $36,046
    From this org
    $36,046
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • WILLIAM RONALD KILGORE

    DIRECTOR

    Total calculated
    $39,609
    From this org
    $39,609
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • MICHAEL SPERRY

    DIRECTOR

    Total calculated
    $52,562
    From this org
    $52,562
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • ROBERT W GRAF

    DIRECTOR

    Total calculated
    $70,084
    From this org
    $70,084
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • MICHAEL KEMPE

    DIRECTOR

    Total calculated
    $38,547
    From this org
    $38,547
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • JAMES T ANEST

    DIRECTOR

    Total calculated
    $60,354
    From this org
    $60,354
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • STACEY STEGMAN

    DIRECTOR

    Total calculated
    $20,029
    From this org
    $20,029
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • PAMELA FEUERSTEIN

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $739,959
    From this org
    $607,210
    From related orgs
    $0
    Other
    $132,749
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $505,692
    Bonus
    $100,000
    Other
    $1,518
    Deferred
    $86,723
    Nontaxable benefits
    $46,026
    Filer's total
    $739,959

  • KATHLEEN SOLANO

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $594,015
    From this org
    $452,283
    From related orgs
    $0
    Other
    $141,732
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $362,493
    Bonus
    $86,252
    Other
    $3,538
    Deferred
    $107,209
    Nontaxable benefits
    $34,523
    Filer's total
    $594,015

  • AMANDA LESHER

    CHIEF MEMBER EXPERIENCE OFFICER

    Total calculated
    $523,756
    From this org
    $444,774
    From related orgs
    $0
    Other
    $78,982
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $357,262
    Bonus
    $86,252
    Other
    $1,260
    Deferred
    $60,802
    Nontaxable benefits
    $18,180
    Filer's total
    $523,756

  • MARK JURGEMEYER

    CHIEF OPERATING OFFICER (JAN-AUG)

    Total calculated
    $516,942
    From this org
    $416,144
    From related orgs
    $0
    Other
    $100,798
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $321,636
    Bonus
    $93,516
    Other
    $992
    Deferred
    $82,546
    Nontaxable benefits
    $18,252
    Filer's total
    $516,942

  • LAURA BURKHART

    CHIEF FINANCIAL OFFICER

    Total calculated
    $438,148
    From this org
    $378,155
    From related orgs
    $0
    Other
    $59,993
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $376,077
    Bonus
    $0
    Other
    $2,078
    Deferred
    $14,000
    Nontaxable benefits
    $45,993
    Filer's total
    $438,148

  • ANNE SHERWOOD

    INTERIM CHIEF OP. OFFICER (MAR-DEC)

    Total calculated
    $297,287
    From this org
    $262,085
    From related orgs
    $0
    Other
    $35,202
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $261,042
    Bonus
    $0
    Other
    $1,043
    Deferred
    $10,662
    Nontaxable benefits
    $24,540
    Filer's total
    $297,287

  • JEREMY CANNON

    DIR - INFORMATION TECHNOLOGY

    Total calculated
    $423,219
    From this org
    $310,906
    From related orgs
    $0
    Other
    $112,313
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $268,259
    Bonus
    $39,359
    Other
    $3,288
    Deferred
    $69,423
    Nontaxable benefits
    $42,890
    Filer's total
    $423,219

  • BRIAN RICHTER

    DIR - ENGINEERING

    Total calculated
    $404,282
    From this org
    $305,197
    From related orgs
    $0
    Other
    $99,085
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $264,604
    Bonus
    $38,775
    Other
    $1,818
    Deferred
    $53,484
    Nontaxable benefits
    $45,601
    Filer's total
    $404,282

  • ANDREW MINTER

    DIR - DISTRIBUTION OPERATIONS

    Total calculated
    $394,232
    From this org
    $295,853
    From related orgs
    $0
    Other
    $98,379
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $259,095
    Bonus
    $34,968
    Other
    $1,790
    Deferred
    $56,524
    Nontaxable benefits
    $41,855
    Filer's total
    $394,232

  • CHRISTOPHER HILDRED

    DIR - POWER SUPPLY

    Total calculated
    $357,146
    From this org
    $277,831
    From related orgs
    $0
    Other
    $79,315
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $241,021
    Bonus
    $35,250
    Other
    $1,560
    Deferred
    $40,569
    Nontaxable benefits
    $38,746
    Filer's total
    $357,146

  • MARCY HUDSON

    DIR - PEOPLE OPERATIONS

    Total calculated
    $374,906
    From this org
    $265,598
    From related orgs
    $0
    Other
    $109,308
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $228,794
    Bonus
    $33,786
    Other
    $3,018
    Deferred
    $62,879
    Nontaxable benefits
    $46,429
    Filer's total
    $374,906

  • RICHARD BREWER

    DIR - BILLING & PAYMENTS

    Total calculated
    $328,061
    From this org
    $223,339
    From related orgs
    $0
    Other
    $104,722
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $192,058
    Bonus
    $27,169
    Other
    $4,112
    Deferred
    $71,837
    Nontaxable benefits
    $32,885
    Filer's total
    $328,061

  • EMILY MEEK

    DIR - CONTROLLER (FEB-DEC)

    Total calculated
    $263,001
    From this org
    $222,183
    From related orgs
    $0
    Other
    $40,818
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $213,482
    Bonus
    $8,000
    Other
    $701
    Deferred
    $8,528
    Nontaxable benefits
    $32,290
    Filer's total
    $263,001

  • WADE PYNES

    CHIEF AUDIT EXECUTIVE

    Total calculated
    $420,304
    From this org
    $326,770
    From related orgs
    $0
    Other
    $93,534
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $284,125
    Bonus
    $41,250
    Other
    $1,395
    Deferred
    $48,012
    Nontaxable benefits
    $45,522
    Filer's total
    $420,304

  • CINDY NEWSOME

    DIR - STRATEGIC & COMMUNICATIONS

    Total calculated
    $385,799
    From this org
    $265,629
    From related orgs
    $0
    Other
    $120,170
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,092
    Bonus
    $33,849
    Other
    $3,688
    Deferred
    $72,741
    Nontaxable benefits
    $47,429
    Filer's total
    $385,799

  • ROBERT OSBORN

    DIR - BUSINESS DEVELOPMENT

    Total calculated
    $354,186
    From this org
    $246,688
    From related orgs
    $0
    Other
    $107,498
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,855
    Bonus
    $31,739
    Other
    $2,094
    Deferred
    $61,015
    Nontaxable benefits
    $46,483
    Filer's total
    $354,186

  • GARETH THOMPSON

    MGR - DATA ARCHITECTURE

    Total calculated
    $292,317
    From this org
    $243,571
    From related orgs
    $0
    Other
    $48,746
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,190
    Bonus
    $17,493
    Other
    $3,888
    Deferred
    $8,875
    Nontaxable benefits
    $39,871
    Filer's total
    $292,317

  • MICHAEL KAINE

    DIR - SAFETY & HEALTH

    Total calculated
    $327,149
    From this org
    $242,404
    From related orgs
    $0
    Other
    $84,745
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,441
    Bonus
    $31,125
    Other
    $2,838
    Deferred
    $65,128
    Nontaxable benefits
    $19,617
    Filer's total
    $327,149

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 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. PAMELA FEUERSTEIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 72,723 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,000 TOTAL REPORTED IN COLUMN C $ 86,723 KATHLEEN SOLANO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 93,209 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,000 TOTAL REPORTED IN COLUMN C $ 107,209 AMANDA LESHER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 46,948 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,854 TOTAL REPORTED IN COLUMN C $ 60,802 MARK JURGEMEYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 71,328 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,218 TOTAL REPORTED IN COLUMN C $ 82,546 LAURA BURKHART: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ -0- EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,000 TOTAL REPORTED IN COLUMN C $ 14,000 JEREMY CANNON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,546 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,877 TOTAL REPORTED IN COLUMN C $ 69,423 WADE PYNES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,679 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,333 TOTAL REPORTED IN COLUMN C $ 48,012 BRIAN RICHTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,643 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,841 TOTAL REPORTED IN COLUMN C $ 53,484 ANDREW MINTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 46,049 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,475 TOTAL REPORTED IN COLUMN C $ 56,524 CINDY NEWSOME: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 63,330 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,411 TOTAL REPORTED IN COLUMN C $ 72,741 MARCY HUDSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 53,470 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,409 TOTAL REPORTED IN COLUMN C $ 62,879 CHRISTOPHER HILDRED: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,941 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,628 TOTAL REPORTED IN COLUMN C $ 40,569 ROBERT OSBORN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 53,335 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,680 TOTAL REPORTED IN COLUMN C $ 61,015 RICHARD BREWER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 64,010 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,827 TOTAL REPORTED IN COLUMN C $ 71,837 MICHAEL KAINE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,627 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,501 TOTAL REPORTED IN COLUMN C $ 65,128 ANNE SHERWOOD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ -0- EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,662 TOTAL REPORTED IN COLUMN C $ 10,662 GARETH THOMPSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ -0- EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,875 TOTAL REPORTED IN COLUMN C $ 8,875 EMILY MEEK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ -0- EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,528 TOTAL REPORTED IN COLUMN C $ 8,528

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2025
IRS schema version
2025v4.2
Source object
202642119349301704

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