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Nonprofiteer
← SAC OSAGE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by SAC OSAGE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$24,086,589
Total expenses
$24,086,589
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$21,455,869
Investment income
$60,991
Other revenue
$2,569,729
Total assets, end of year
$117,981,233
Total liabilities, end of year
$88,940,177
Net assets or fund balances, end of year
$29,041,056
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: Sale of Electricity

    total $19,804,157 · related or exempt $19,804,157

  • 2b · Program service revenue: Capital Credits

    total $1,035,878 · related or exempt $1,035,878

  • 2c · Program service revenue: Other Operating

    total $186,151 · related or exempt $186,151

  • 2d · Program service revenue: Fiber Revenue Share

    total $429,683 · related or exempt $429,683

  • 3 · Investment income

    total $60,991 · excluded $60,991

  • 6a · Gross rents

    real property $2,535,008

  • 6c · Rental income or loss

    real property $2,535,008

  • 6d · Net rental income or loss

    total $2,535,008 · unrelated business $2,476,635 · excluded $58,373

  • 11a · Other revenue: Broadband Grant Revenue

    total $15,021 · related or exempt $15,021

  • 11b · Other revenue: Non-Operating

    total $19,700 · related or exempt $19,700

  • 11e · Other revenue, total

    $34,721

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,138,113

  • 5 · Compensation of officers, directors and key employees

    total $383,679

  • 7 · Other salaries and wages

    total $755,627

  • 20 · Interest

    total $2,513,697

  • 22 · Depreciation, depletion and amortization

    total $2,473,842

  • 24a · Other expenses: Cost of Power

    total $10,170,845 · program services $10,170,845

  • 24b · Other expenses: Distribution Expense

    total $3,682,796 · program services $3,682,796

  • 24c · Other expenses: Admin & General

    total $1,300,114 · program services $1,300,114

  • 24d · Other expenses: Member Services

    total $662,044 · program services $662,044

  • 24e · All other expenses

    total $5,832

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,306,692 · end of year $3,909,780

  • 2 · Savings and temporary cash investments

    beginning of year $356,810

  • 4 · Accounts receivable

    beginning of year $1,378,564 · end of year $1,028,588

  • 8 · Inventories for sale or use

    beginning of year $3,226,320 · end of year $3,860,594

  • 9 · Prepaid expenses and deferred charges

    beginning of year $267,675 · end of year $231,616

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

    $115,865,447

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

    $19,364,569

  • 10c · Land, buildings and equipment, net

    beginning of year $72,176,615 · end of year $96,500,878

  • 13 · Investments: program-related

    beginning of year $11,646,728 · end of year $12,449,777

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,041,956 · end of year $3,866,605

  • 19 · Deferred revenue

    beginning of year $1,457,910 · end of year $1,777,759

  • 23 · Secured mortgages and notes payable

    beginning of year $57,619,660 · end of year $82,864,742

  • 25 · Other liabilities

    beginning of year $425,557 · end of year $431,071

  • 29 · Capital stock, trust principal or current funds

    beginning of year $44,915 · end of year $45,465

  • 31 · Retained earnings, endowment or other funds

    beginning of year $27,769,406 · end of year $28,995,591

Mission and programs · 2023

Mission

To provide reliable energy and related services to our members at the loweest cost.

  • Sac-Osage Electric Cooperative provides electric service to approximately 9,000 members on a system that includes more than 2,400 miles of lines and 11,600 meters.

As filed on the 2023 return.

Listed in Part VII

  • Ronald Simmons

    Crew Foreman

    Total calculated
    $196,759
    From this org
    $111,069
    From related orgs
    $0
    Other
    $85,690
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $111,069
    Bonus
    not reported
    Other
    not reported
    Deferred
    $60,101
    Nontaxable benefits
    $25,589
    Filer's total
    $196,759

  • Aaron Ash

    General Manager

    Total calculated
    $175,230
    From this org
    $112,511
    From related orgs
    $0
    Other
    $62,719
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $112,511
    Bonus
    not reported
    Other
    not reported
    Deferred
    $37,130
    Nontaxable benefits
    $25,589
    Filer's total
    $175,230

  • Kelly Eck

    Journeymane Lineman

    Total calculated
    $158,905
    From this org
    $116,251
    From related orgs
    $0
    Other
    $42,654
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $116,251
    Bonus
    not reported
    Other
    not reported
    Deferred
    $17,065
    Nontaxable benefits
    $25,589
    Filer's total
    $158,905

  • Kelly McPeak

    Financial & Admin Manager

    Total calculated
    $146,953
    From this org
    $92,148
    From related orgs
    $0
    Other
    $54,805
    Hours/week
    40

  • Garrett Mays

    Journeyman Lineman

    Total calculated
    $137,859
    From this org
    $113,902
    From related orgs
    $0
    Other
    $23,957
    Hours/week
    48

  • Tysen Sayler

    Journeyman Lineman

    Total calculated
    $135,146
    From this org
    $104,147
    From related orgs
    $0
    Other
    $30,999
    Hours/week
    46

  • Randy Fletcher

    Journeyman Lineman

    Total calculated
    $126,958
    From this org
    $105,471
    From related orgs
    $0
    Other
    $21,487
    Hours/week
    45

  • Sharla Wilkerson

    Financial & Admin Manager

    Total calculated
    $19,063
    From this org
    $15,048
    From related orgs
    $0
    Other
    $4,015
    Hours/week
    40

  • Tim Minehardt

    Executive Director

    Total calculated
    $10,248
    From this org
    $10,248
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Shannon Tucker

    Director

    Total calculated
    $5,285
    From this org
    $5,285
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ronald Brockus

    Director

    Total calculated
    $5,095
    From this org
    $5,095
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Brian Hubbard

    Director

    Total calculated
    $4,309
    From this org
    $4,309
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gary Ashby

    Director

    Total calculated
    $3,831
    From this org
    $3,831
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kenneth Hacker

    Director

    Total calculated
    $3,811
    From this org
    $3,811
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Maranda Spangler

    Director

    Total calculated
    $3,499
    From this org
    $3,499
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • George Underwood

    Director

    Total calculated
    $3,295
    From this org
    $3,295
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Raymond Huesemann

    Director

    Total calculated
    $3,060
    From this org
    $3,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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 · 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.

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.

  • SOEC Technologies LLC

    Fiber Optic · MO · income -$606 · assets $61,150

    Directly controlled by Sac Osage Electric Cooperative Inc

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202443209349314309

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