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Nonprofiteer
← KALONA COOPERATIVE TELEPHONE COMPANY

Form 990 for tax year 2023

Filed by KALONA COOPERATIVE TELEPHONE COMPANY.

Totals

Total revenue
$8,308,916
Total expenses
$8,494,279
Contributions and grants received
$18,005
Grants paid
$0
Program service revenue
$8,234,621
Investment income
$133,266
Other revenue
-$76,976
Total assets, end of year
$20,658,115
Total liabilities, end of year
$8,655,625
Net assets or fund balances, end of year
$12,002,490
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.

  • 1e · Government grants (contributions)

    $18,005

  • 2a · Program service revenue: TELECOMMUNICATION SERV

    total $8,234,621 · related or exempt $8,234,621

  • 3 · Investment income

    total $149,950 · excluded $149,950

  • 6a · Gross rents

    real property $35,743

  • 6b · Less rental expenses

    real property $3,165

  • 6c · Rental income or loss

    real property $32,578

  • 6d · Net rental income or loss

    total $32,578 · unrelated business $7,035 · excluded $25,543

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

    other assets $16,684

  • 7c · Gain or loss

    other assets -$16,684

  • 7d · Net gain or loss

    total -$16,684 · excluded -$16,684

  • 11a · Other revenue: SALES TO NON-MEMBERS

    total $39,669 · unrelated business $39,669

  • 11b · Other revenue: DIRECTORY REVENUE

    total $36,140 · unrelated business $36,140

  • 11c · Other revenue: SUBSIDIARY EARNINGS

    total -$185,363 · related or exempt -$185,363

  • 11e · Other revenue, total

    -$109,554

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,176,386

  • 5 · Compensation of officers, directors and key employees

    total $324,953

  • 9 · Other employee benefits

    total $233,071

  • 11b · Fees: legal

    total $65,324

  • 11c · Fees: accounting

    total $240,583

  • 16 · Occupancy

    total $31,211

  • 20 · Interest

    total $281,831

  • 22 · Depreciation, depletion and amortization

    total $1,677,338

  • 24a · Other expenses: PLANT SPECIFIC

    total $1,502,619

  • 24b · Other expenses: COST OF SERVICE

    total $1,308,948

  • 24c · Other expenses: CORPORATE OPERATIONS

    total $866,071

  • 24d · Other expenses: CUSTOMER AND OTHER

    total $683,208

  • 24e · All other expenses

    total $102,736

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $510,382 · end of year $544,663

  • 2 · Savings and temporary cash investments

    beginning of year $1,267,792 · end of year $1,211,838

  • 4 · Accounts receivable

    beginning of year $842,321 · end of year $923,390

  • 8 · Inventories for sale or use

    beginning of year $828,727 · end of year $770,420

  • 9 · Prepaid expenses and deferred charges

    beginning of year $75,091 · end of year $83,954

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

    $33,449,587

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

    $18,372,392

  • 10c · Land, buildings and equipment, net

    beginning of year $13,700,463 · end of year $15,077,195

  • 11 · Investments: publicly traded securities

    beginning of year $1,047,376 · end of year $1,089,864

  • 12 · Investments: other securities

    beginning of year $10,359 · end of year $14,272

  • 13 · Investments: program-related

    beginning of year $829,983 · end of year $644,620

  • 15 · Other assets

    beginning of year $297,899 · end of year $297,899

  • 17 · Accounts payable and accrued expenses

    beginning of year $754,142 · end of year $769,796

  • 19 · Deferred revenue

    beginning of year $589,549 · end of year $571,545

  • 23 · Secured mortgages and notes payable

    beginning of year $7,042,937 · end of year $7,290,211

  • 25 · Other liabilities

    beginning of year $25,476 · end of year $24,073

  • 29 · Capital stock, trust principal or current funds

    beginning of year $31,590 · end of year $34,660

  • 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 $10,966,699 · end of year $11,967,830

Mission and programs · 2023

Mission

TO PROVIDE TELECOMMUNICATION SERVICES TO ITS MEMBERS.

  • THE COOPERATIVE PROVIDES QUALITY TELECOMMUNICATION SERVICES TO ITS MEMBER SUBSCRIBERS. THESE SERVICES INCLUDE LOCAL EXCHANGE SERVICES, TOLL SERVICES, TERMINAL EQUIPMENT FOR SALE OR LEASE, INTERNET SERVICES, PCS SERVICES, INSTALL, AND MAINTENANCE OF CUSTOMER PREMISE WIRING, VIDEO SERVICES, AND OTHER MISC. SERVICES FOR QUALITY TELECOMMUNICATIONS SERVICE.

As filed on the 2023 return.

Listed in Part VII

  • Steve Rich

    VICE PRESIDENT

    Total calculated
    $8,585
    From this org
    $8,585
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Atlee Yoder

    SECRETARY

    Total calculated
    $8,400
    From this org
    $8,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Steve Yotty

    PRESIDENT

    Total calculated
    $8,865
    From this org
    $8,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Curt Wyse

    DIRECTOR

    Total calculated
    $11,473
    From this org
    $11,473
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Keith Troyer

    DIRECTOR

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeremy Kuenster

    DIRECTOR

    Total calculated
    $6,800
    From this org
    $6,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Luke Horak

    DIRECTOR

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Casey Peck

    CFO/GENERAL MANAGER

    Total calculated
    $266,831
    From this org
    $188,993
    From related orgs
    $0
    Other
    $77,838
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,390
    Bonus
    $30,603
    Other
    $0
    Deferred
    $50,559
    Nontaxable benefits
    $27,279
    Filer's total
    $266,831

  • Jeremy Gugel

    ASSISTANT MANAGER

    Total calculated
    $153,278
    From this org
    $119,852
    From related orgs
    $0
    Other
    $33,426
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $107,045
    Bonus
    $12,807
    Other
    $0
    Deferred
    $6,147
    Nontaxable benefits
    $27,279
    Filer's total
    $153,278

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 survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
THE COOPERATIVE HAS A NONQUALIFIED RETIREMENT PLAN FOR CASEY PECK. THE AMOUNT ACCRUED IN THE PLAN IS $41,469 AS OF DECEMBER 31, 2023.

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • COMMUNICATIONS NETWORK INC

    C · TELECOMMUNICATIONS · IA · 100% owned · share of income -$185,363 · share of assets $10,269,454 · controlled entity

    Directly controlled by KALONA COOPERATIVE TELEPHONE COMPANY

Provenance

Return type
form_990
Tax year
2023
Filed
25 October 2024
IRS schema version
2023v5.1
Source object
202423049349301702

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