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Nonprofiteer
← ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$23,456,102
Total expenses
$23,256,102
Contributions and grants received
$0
Grants paid
$10,757
Program service revenue
$23,334,045
Investment income
$122,057
Other revenue
$0
Total assets, end of year
$67,496,179
Total liabilities, end of year
$40,152,268
Net assets or fund balances, end of year
$27,343,911
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 $21,568,929 · related or exempt $21,568,929

  • 2b · Program service revenue: OTHER INCOME

    total $1,114,574 · related or exempt $607,352 · unrelated business $507,222

  • 2c · Program service revenue: COOP CAPITAL CREDITS

    total $616,333 · related or exempt $616,333

  • 2d · Program service revenue: EQUITY INVESTMENTS

    total $34,209 · unrelated business $25,997 · excluded $8,212

  • 3 · Investment income

    total $110,487 · excluded $110,487

  • 7a · Gross sales of assets other than inventory

    other assets $11,570

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

    other assets $0

  • 7c · Gain or loss

    other assets $11,570

  • 7d · Net gain or loss

    total $11,570 · excluded $11,570

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,757

  • 4 · Benefits paid to or for members

    total $564,157

  • 5 · Compensation of officers, directors and key employees

    total $430,031

  • 7 · Other salaries and wages

    total $2,952,795

  • 8 · Pension plan contributions

    total $702,842

  • 10 · Payroll taxes

    total $246,365

  • 20 · Interest

    total $982,883

  • 22 · Depreciation, depletion and amortization

    total $2,142,638

  • 24a · Other expenses: COST OF POWER

    total $11,930,775

  • 24b · Other expenses: DISTRIBUTION MAINTENANC

    total $2,068,018

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $1,428,095

  • 24d · Other expenses: ADMIN & GENERAL

    total $513,884

  • 24e · All other expenses

    total -$717,138

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $796,862 · end of year $574,605

  • 4 · Accounts receivable

    beginning of year $6,533,661 · end of year $2,237,107

  • 8 · Inventories for sale or use

    beginning of year $735,049 · end of year $1,405,830

  • 9 · Prepaid expenses and deferred charges

    beginning of year $154,396 · end of year $399,444

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

    $78,200,526

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

    $28,571,749

  • 10c · Land, buildings and equipment, net

    beginning of year $46,790,399 · end of year $49,628,777

  • 12 · Investments: other securities

    beginning of year $950,181 · end of year $1,163,673

  • 13 · Investments: program-related

    beginning of year $11,737,267 · end of year $12,063,209

  • 15 · Other assets

    beginning of year $21,846 · end of year $23,534

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,638,172 · end of year $2,082,725

  • 21 · Escrow or custodial account liability

    beginning of year $33,372 · end of year $38,961

  • 23 · Secured mortgages and notes payable

    beginning of year $31,160,440 · end of year $34,500,816

  • 24 · Unsecured notes and loans payable

    beginning of year $4,582,149 · end of year $2,038,957

  • 25 · Other liabilities

    beginning of year $1,136,597 · end of year $1,490,809

  • 29 · Capital stock, trust principal or current funds

    beginning of year $490 · end of year $490

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $12,912,847 · end of year $13,168,119

  • 31 · Retained earnings, endowment or other funds

    beginning of year $14,255,594 · end of year $14,175,302

Mission and programs · 2022

Mission

ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE IS DEDICATED TO ENHANCING THE QUALITY OF LIFE FOR OUR MEMBERS, PARTNERS AND NEIGHBORS BY PROVIDING SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICES AND OTHER INNOVATIVE SOLUTIONS.

Activities or mission (Part I)

PROVIDE SAFE, RELIABLE AND AFFORDABLE ELECTRIC SERVICES AND RELATED INNOVATIONS IN TECHNOLOGY.

  • ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE WAS ORGANIZED IN 1938 BY MEMBERS BECAUSE INVESTOR-OWNED UTILITIES BYPASSED RURAL IOWA DUE TO ITS SPARSE POPULATION. ALLAMAKEE-CLAYTON ELECTRIC COOPERATIVE PROVIDES ELECTRIC POWER TO MORE THAN 9,900 CUSTOMERS ON 2,523 MILES OF LINE IN PORTIONS OF EIGHT COUNTIES: ALLAMAKEE, CLAYTON, FAYETTE, WINNESHIEK, CHICKASAW, BREMER, DELAWARE AND DUBUQUE. OUR CUSTOMER BASE IS 95% FARM AND RURAL RESIDENTIAL AND MAINTAINS 24-HOUR AROUND-THE-CLOCK ELECTRIC SERVICE. CREWS ARE AVAILABLE TO ENSURE QUALITY SERVICE AT ALL TIMES.

As filed on the 2022 return.

Listed in Part VII

  • Jeffrey Bradley

    PRESIDENT

    Total calculated
    $10,625
    From this org
    $10,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.9

  • Michael Gibbs

    VICE PRESIDENT

    Total calculated
    $9,125
    From this org
    $9,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Cynthia Heffern

    SECRETARY

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.2

  • Roger Arthur

    DIRECTOR

    Total calculated
    $7,250
    From this org
    $7,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.1

  • Nelson Converse

    DIRECTOR

    Total calculated
    $8,250
    From this org
    $8,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.6

  • Greg Formanek

    DIRECTOR

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • Arlyn Fossum

    DIRECTOR (END 09/2022)

    Total calculated
    $4,875
    From this org
    $4,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.4

  • Jerry Keleher

    DIRECTOR

    Total calculated
    $9,250
    From this org
    $9,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Alan Steffens

    DIRECTOR

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.9

  • Brice Wood

    DIRECTOR (BEGIN 09/2022)

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.4

  • Hollee McCormick

    EXECUTIVE VP & GEN MANAGER

    Total calculated
    $163,872
    From this org
    $136,063
    From related orgs
    $0
    Other
    $27,809
    Hours/week
    44.6

    Schedule J breakdown matched by us

    Base
    $135,757
    Bonus
    $0
    Other
    $306
    Deferred
    $3,557
    Nontaxable benefits
    $25,480
    Filer's total
    $165,100

  • David Decker

    CFO

    Total calculated
    $134,572
    From this org
    $122,280
    From related orgs
    $0
    Other
    $12,292
    Hours/week
    52.9

  • Jason Troendle

    DIRECTOR OF OPERATIONS

    Total calculated
    $126,360
    From this org
    $100,893
    From related orgs
    $0
    Other
    $25,467
    Hours/week
    45.1

  • Josh Abbott

    LEAD LINEMEN

    Total calculated
    $131,544
    From this org
    $104,092
    From related orgs
    $0
    Other
    $27,452
    Hours/week
    46.7

  • Jack Regan

    LINE CREW FOREMAN

    Total calculated
    $113,455
    From this org
    $110,416
    From related orgs
    $0
    Other
    $3,039
    Hours/week
    43.8

  • Tim Bauch

    LINE SUPERINTENDENT

    Total calculated
    $123,606
    From this org
    $102,407
    From related orgs
    $0
    Other
    $21,199
    Hours/week
    44.8

  • Nick Dougherty

    LINEMAN

    Total calculated
    $105,281
    From this org
    $103,931
    From related orgs
    $0
    Other
    $1,350
    Hours/week
    44.6

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.

Provenance

Return type
form_990
Tax year
2022
Filed
30 October 2023
IRS schema version
2022v5.0
Source object
202333049349301313

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