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Nonprofiteer
← CHERRYLAND ELECTRIC CO OP

Form 990 for tax year 2022

Filed by CHERRYLAND ELECTRIC CO OP.

Totals

Total revenue
$62,035,173
Total expenses
$59,726,647
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$58,746,530
Investment income
$3,110,743
Other revenue
$177,900
Total assets, end of year
$135,639,535
Total liabilities, end of year
$79,606,286
Net assets or fund balances, end of year
$56,033,249
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: MEMBER ELECTRIC REVENUE

    total $58,429,091 · related or exempt $58,429,091

  • 2b · Program service revenue: SERVICE CHARGES

    total $138,997 · related or exempt $138,997

  • 2c · Program service revenue: STREET LIGHTS

    total $101,879 · related or exempt $101,879

  • 2d · Program service revenue: POLE CONTACT FEES

    total $76,563 · excluded $76,563

  • 3 · Investment income

    total $3,042,564 · related or exempt $3,011,309 · unrelated business $213 · excluded $31,042

  • 7a · Gross sales of assets other than inventory

    other assets $68,179

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

    other assets $0

  • 7c · Gain or loss

    other assets $68,179

  • 7d · Net gain or loss

    total $68,179 · excluded $68,179

  • 11a · Other revenue: MISCELLANEOUS

    total $177,900 · related or exempt $177,900

  • 11e · Other revenue, total

    $177,900

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,132,200

  • 5 · Compensation of officers, directors and key employees

    total $949,767

  • 7 · Other salaries and wages

    total $646,503

  • 11a · Fees: management

    total $91,445

  • 11b · Fees: legal

    total $61,261

  • 11c · Fees: accounting

    total $34,700

  • 12 · Advertising and promotion

    total $26,355

  • 13 · Office expenses

    total $154,407

  • 14 · Information technology

    total $413,895

  • 16 · Occupancy

    total $164,032

  • 19 · Conferences, conventions and meetings

    total $53,234

  • 20 · Interest

    total $2,838,580

  • 22 · Depreciation, depletion and amortization

    total $4,249,731

  • 23 · Insurance

    total $120,337

  • 24a · Other expenses: COST OF POWER

    total $37,655,708

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $4,320,593

  • 24c · Other expenses: MEMBER SERVICE

    total $2,832,072

  • 24d · Other expenses: OPERATIONS

    total $1,755,830

  • 24e · All other expenses

    total $2,225,997

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $91,268 · end of year $156,472

  • 2 · Savings and temporary cash investments

    beginning of year $391,208 · end of year $105,006

  • 4 · Accounts receivable

    beginning of year $6,075,058 · end of year $7,145,559

  • 7 · Other notes and loans receivable

    beginning of year $835,378 · end of year $1,125,279

  • 8 · Inventories for sale or use

    beginning of year $923,351 · end of year $1,173,272

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,073,322 · end of year $2,828,235

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

    $134,197,667

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

    $47,752,074

  • 10c · Land, buildings and equipment, net

    beginning of year $82,311,378 · end of year $86,445,593

  • 12 · Investments: other securities

    beginning of year $34,051,167 · end of year $35,262,974

  • 15 · Other assets

    beginning of year $760,284 · end of year $1,397,145

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,778,565 · end of year $5,025,918

  • 23 · Secured mortgages and notes payable

    beginning of year $62,617,567 · end of year $65,260,879

  • 24 · Unsecured notes and loans payable

    beginning of year $4,995,646 · end of year $6,380,173

  • 25 · Other liabilities

    beginning of year $2,282,180 · end of year $2,939,316

  • 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 -$1,800,505 · end of year -$1,702,123

  • 31 · Retained earnings, endowment or other funds

    beginning of year $55,638,961 · end of year $57,735,372

Mission and programs · 2022

Mission

ELECTRIC COOPERATIVE

  • PROVIDE ELECTRIC SERVICES TO OVER 37,000 MEMBERS.

    Revenue $61,859,176

As filed on the 2022 return.

Listed in Part VII

  • Melinda Lautner

    SENIOR VICE PRESIDENT

    Total calculated
    $23,010
    From this org
    $23,000
    From related orgs
    $0
    Other
    $10
    Hours/week
    14

  • Terry Lautner

    DIRECTOR

    Total calculated
    $22,010
    From this org
    $22,000
    From related orgs
    $0
    Other
    $10
    Hours/week
    18

  • Dean Adams

    DIRECTOR

    Total calculated
    $14,005
    From this org
    $14,000
    From related orgs
    $0
    Other
    $5
    Hours/week
    2

  • Thomas Van Pelt

    TREASURER

    Total calculated
    $23,010
    From this org
    $23,000
    From related orgs
    $0
    Other
    $10
    Hours/week
    12

  • David Schweitzer

    PRESIDENT

    Total calculated
    $23,910
    From this org
    $23,900
    From related orgs
    $0
    Other
    $10
    Hours/week
    4

  • Gabriel Ts Schneider

    SECRETARY

    Total calculated
    $22,110
    From this org
    $22,100
    From related orgs
    $0
    Other
    $10
    Hours/week
    10

  • Valarie Handy

    DIRECTOR

    Total calculated
    $21,502
    From this org
    $21,500
    From related orgs
    $0
    Other
    $2
    Hours/week
    4

  • Anthony Anderson

    GENERAL MANAGER

    Total calculated
    $532,654
    From this org
    $305,845
    From related orgs
    $0
    Other
    $226,809
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $305,845
    Bonus
    $0
    Other
    $0
    Deferred
    $208,205
    Nontaxable benefits
    $18,604
    Filer's total
    $532,654

  • Mark Wilson

    CFO

    Total calculated
    $260,051
    From this org
    $168,368
    From related orgs
    $0
    Other
    $91,683
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $168,368
    Bonus
    $0
    Other
    $0
    Deferred
    $72,058
    Nontaxable benefits
    $19,625
    Filer's total
    $260,051

  • J Philip Scott

    CREW FOREMAN

    Total calculated
    $185,353
    From this org
    $172,989
    From related orgs
    $0
    Other
    $12,364
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $172,989
    Bonus
    $0
    Other
    $0
    Deferred
    $5,811
    Nontaxable benefits
    $6,553
    Filer's total
    $185,353

  • Frank Siepker

    ENGINEER & OPERATIONS MANA

    Total calculated
    $253,542
    From this org
    $170,812
    From related orgs
    $0
    Other
    $82,730
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $170,812
    Bonus
    $0
    Other
    $0
    Deferred
    $63,086
    Nontaxable benefits
    $19,644
    Filer's total
    $253,542

  • David Bott

    CREW FOREMAN

    Total calculated
    $207,030
    From this org
    $159,014
    From related orgs
    $0
    Other
    $48,016
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $159,014
    Bonus
    $0
    Other
    $0
    Deferred
    $31,696
    Nontaxable benefits
    $16,320
    Filer's total
    $207,030

  • Bruce Stocking

    CREW FOREMAN

    Total calculated
    $201,875
    From this org
    $150,993
    From related orgs
    $0
    Other
    $50,882
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,993
    Bonus
    $0
    Other
    $0
    Deferred
    $37,410
    Nontaxable benefits
    $13,472
    Filer's total
    $201,875

  • Rachel Johnson

    MEMBER RELATIONS MANAGER

    Total calculated
    $213,318
    From this org
    $157,492
    From related orgs
    $0
    Other
    $55,826
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $157,492
    Bonus
    $0
    Other
    $0
    Deferred
    $39,740
    Nontaxable benefits
    $16,086
    Filer's total
    $213,318

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 · Form 990 of other organizations
  • 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
A PORTION OF THE RETIREMENT AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN C, REPRESENT THE ACTUARIAL CHANGE IN THE ORGANIZATION'S QUALIFIED DEFINED BENEFIT PLAN (RETIREMENT SECURITY PLAN) WHICH WAS NOT FUNDED AS OF 12/31/22. OF THESE AMOUNTS, BELOW IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE RETIREMENT SECURITY PLAN PER INDIVIDUAL: ANTHONY ANDERSON $194,041 MARK WILSON - $63,878 FRANK SIEPKER - $54,849 RACHEL JOHNSON - $32,554 DAVID BOTT - $26,161 BRUCE STOCKING - $31,599

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.

Provenance

Return type
form_990
Tax year
2022
Filed
18 September 2023
IRS schema version
2022v5.0
Source object
202312639349301241

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