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← FREEBORN-MOWER COOPERATIVE SERVICES

Form 990 for tax year 2023

Filed by FREEBORN-MOWER COOPERATIVE SERVICES.

Totals

Total revenue
$61,656,883
Total expenses
$59,885,004
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$59,790,857
Investment income
$138,353
Other revenue
$1,727,673
Total assets, end of year
$151,110,003
Total liabilities, end of year
$104,103,861
Net assets or fund balances, end of year
$47,006,142
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Listed in Part VII

  • JOHN JACK KORMAN

    BOARD CHAIR

    Total calculated
    $14,107
    From this org
    $14,107
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • STEVE GARBISCH

    TREASURER

    Total calculated
    $12,209
    From this org
    $12,209
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • MATT MARAS

    DIRECTOR (STARTED APRIL 2023)

    Total calculated
    $7,352
    From this org
    $7,352
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • DENNIS ANDERSON

    VICE CHAIRMAN

    Total calculated
    $12,248
    From this org
    $12,248
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • FRANK FRYER

    SECRETARY

    Total calculated
    $12,686
    From this org
    $12,686
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • LARRY IRVINE

    DIRECTOR

    Total calculated
    $11,114
    From this org
    $11,114
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • WILLIAM TRYGSTAD

    DIRECTOR

    Total calculated
    $11,638
    From this org
    $11,638
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • JOE PACOVSKY

    DIRECTOR (THROUGH APRIL 2023)

    Total calculated
    $4,669
    From this org
    $4,669
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • RICHARD SCHAUFLER

    DIRECTOR

    Total calculated
    $13,189
    From this org
    $13,189
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • JAY NEITZELL

    DIRECTOR

    Total calculated
    $10,914
    From this org
    $10,914
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • JAMES KRUEGER

    PRESIDENT/CEO

    Total calculated
    $305,967
    From this org
    $225,361
    From related orgs
    $0
    Other
    $80,606
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $218,773
    Bonus
    $200
    Other
    $6,388
    Deferred
    $57,444
    Nontaxable benefits
    $25,113
    Filer's total
    $307,918

  • SCOTT SHEELY

    JOURNEYMAN LINEWORKER

    Total calculated
    $154,601
    From this org
    $118,883
    From related orgs
    $0
    Other
    $35,718
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $118,084
    Bonus
    $200
    Other
    $599
    Deferred
    $12,556
    Nontaxable benefits
    $24,018
    Filer's total
    $155,457

  • JACK KORTAN

    MANAGER OF OPERATIONS

    Total calculated
    $212,962
    From this org
    $134,884
    From related orgs
    $0
    Other
    $78,078
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,856
    Bonus
    $200
    Other
    $1,828
    Deferred
    $54,915
    Nontaxable benefits
    $24,405
    Filer's total
    $214,204

  • BRAD DEVRIES

    WORKING FOREMAN

    Total calculated
    $163,345
    From this org
    $124,534
    From related orgs
    $0
    Other
    $38,811
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $123,620
    Bonus
    $200
    Other
    $714
    Deferred
    $15,649
    Nontaxable benefits
    $24,085
    Filer's total
    $164,268

  • AL STADHEIM

    DIRECTOR OF ENGIN & OPERAT

    Total calculated
    $220,853
    From this org
    $162,105
    From related orgs
    $0
    Other
    $58,748
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,758
    Bonus
    $200
    Other
    $1,147
    Deferred
    $35,585
    Nontaxable benefits
    $23,953
    Filer's total
    $221,643

  • ETHAN EGGUM

    WORKING FOREMAN

    Total calculated
    $159,203
    From this org
    $120,544
    From related orgs
    $0
    Other
    $38,659
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $119,742
    Bonus
    $200
    Other
    $602
    Deferred
    $15,496
    Nontaxable benefits
    $24,085
    Filer's total
    $160,125

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 · 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

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C
INCLUDED IN COLUMN "C", DEFERRED COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE (DECREASE) IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. FOR THE FOLLOWING INDIVIDUALS, THE ESTIMATED INCREASE (DECREASE) IS: JAMES KRUEGER: $35,434 SCOTT SHEELY: $2,767 JACK KORTAN: $41,236 BRAD DEVRIES: $5,168 AL STADHEIM: $19,214 ETHAN EGGUM: $5,102 THESE AMOUNTS ARE ESTIMATES IN THE INCREASE (DECREASE) OF THE VALUE OF THE PLAN AND ARE NOT CURRENT YEAR EXPENSES OF THE COOPERATIVE.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MINNESOTA THREE LLC

    UNRELATED · SOLAR GENERATION PLANT · MN · 33.33% owned · share of income $5,155 · share of assets $348,682 · general or managing partner

    Directly controlled by FREEBORN MOWER ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2023
Filed
27 September 2024
IRS schema version
2023v5.1
Source object
202442819349300909

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