Totals
- Total revenue
- $29,203,634
- Total expenses
- $28,814,017
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $28,950,155
- Investment income
- $282,848
- Other revenue
- -$29,369
- Total assets, end of year
- $88,985,955
- Total liabilities, end of year
- $56,744,118
- Net assets or fund balances, end of year
- $32,241,837
- 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: Electric Sales
total $28,132,399 · related or exempt $28,132,399
-
2b · Program service revenue: Capital Credits
total $491,998 · related or exempt $491,998
-
2c · Program service revenue: Other Sales
total $325,758 · related or exempt $325,758
-
3 · Investment income
total $191,851 · excluded $191,851
-
7a · Gross sales of assets other than inventory
other assets $90,997
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $90,997
-
7d · Net gain or loss
total $90,997 · excluded $90,997
-
11a · Other revenue: Internet & LD
total $9,971 · unrelated business $9,971
-
11b · Other revenue: Generator Sales
total -$9,459 · unrelated business -$9,459
-
11c · Other revenue: Meter Loops & Sewer District
total -$29,881 · related or exempt -$29,881
-
11e · Other revenue, total
-$29,369
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $1,515,925
-
5 · Compensation of officers, directors and key employees
total $456,283
-
7 · Other salaries and wages
total $3,982,753
-
8 · Pension plan contributions
total $421,248
-
10 · Payroll taxes
total $324,772
-
20 · Interest
total $1,300,468
-
22 · Depreciation, depletion and amortization
total $2,188,110
-
24a · Other expenses: Cost of Power
total $16,527,934
-
24b · Other expenses: Distribution
total $4,127,863
-
24c · Other expenses: Admin & General
total $1,882,943
-
24d · Other expenses: Customers Accts & Servi
total $1,269,414
-
24e · All other expenses
total -$5,183,696
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $5,751,423 · end of year $4,229,205
-
2 · Savings and temporary cash investments
beginning of year $3,398,983 · end of year $4,649,794
-
4 · Accounts receivable
beginning of year $4,065,651 · end of year $3,496,092
-
8 · Inventories for sale or use
beginning of year $1,505,686 · end of year $1,622,695
-
9 · Prepaid expenses and deferred charges
beginning of year $1,947,013 · end of year $1,589,804
-
10a · Land, buildings and equipment: cost or other basis
$86,807,403
-
10b · Land, buildings and equipment: accumulated depreciation
$30,334,925
-
10c · Land, buildings and equipment, net
beginning of year $54,032,337 · end of year $56,472,478
-
13 · Investments: program-related
beginning of year $15,045,485 · end of year $14,920,018
-
15 · Other assets
beginning of year $1,022,941 · end of year $2,005,869
-
17 · Accounts payable and accrued expenses
beginning of year $4,212,443 · end of year $4,078,957
-
19 · Deferred revenue
beginning of year $1,000,000 · end of year $2,080,528
-
21 · Escrow or custodial account liability
beginning of year $6,416 · end of year $6,654
-
23 · Secured mortgages and notes payable
beginning of year $49,023,061 · end of year $48,754,130
-
25 · Other liabilities
beginning of year $1,259,319 · end of year $1,823,849
-
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 $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $31,268,280 · end of year $32,241,837
Mission and programs · 2022
Mission
It is our mission to responsibly provide reliable, competitively priced energy, services and products to meet the needs of our members and customers.
Activities or mission (Part I)
Provides electric distribution service to 13,583 members of the cooperative.
-
Provided electric distribution service to 13,583 members of the Cooperative and 2,008 miles in 2022.
As filed on the 2022 return.
Listed in Part VII
-
Harold Harms
President
- Total calculated
- $18,057
- From this org
- $18,057
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.4
-
Mike Reem
Vice President
- Total calculated
- $14,743
- From this org
- $14,743
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.4
-
Bruce Robinson
Assist Secretary/Treasurer
- Total calculated
- $14,908
- From this org
- $14,908
- From related orgs
- $0
- Other
- $0
- Hours/week
- 7.2
-
Aileen Demenge
Secretary/Treasurer
- Total calculated
- $15,888
- From this org
- $15,888
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6.9
-
Don Appel
Director
- Total calculated
- $12,943
- From this org
- $12,943
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.6
-
Derik Midthun
Director
- Total calculated
- $10,888
- From this org
- $10,888
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.3
-
Mark Anderson
Director
- Total calculated
- $11,478
- From this org
- $11,478
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.7
-
Sarah Cron
CEO
- Total calculated
- $246,836
- From this org
- $199,657
- From related orgs
- $0
- Other
- $47,179
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $197,115
- Bonus
- $0
- Other
- $2,542
- Deferred
- $22,405
- Nontaxable benefits
- $24,781
- Filer's total
- $246,843
-
Lincoln Messner
Accounting & Finance Mgr
- Total calculated
- $110,414
- From this org
- $99,089
- From related orgs
- $0
- Other
- $11,325
- Hours/week
- 40
-
William Fillion
Operations Manager
- Total calculated
- $157,825
- From this org
- $129,909
- From related orgs
- $0
- Other
- $27,916
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $127,443
- Bonus
- $0
- Other
- $2,466
- Deferred
- $14,533
- Nontaxable benefits
- $13,390
- Filer's total
- $157,832
-
Nikolaus Borchert
Lineman
- Total calculated
- $158,016
- From this org
- $130,981
- From related orgs
- $0
- Other
- $27,035
- Hours/week
- 48.2
Schedule J breakdown matched by us
- Base
- $129,520
- Bonus
- $0
- Other
- $1,461
- Deferred
- $14,652
- Nontaxable benefits
- $12,499
- Filer's total
- $158,132
-
Jay Eide
Lineman
- Total calculated
- $140,137
- From this org
- $126,433
- From related orgs
- $0
- Other
- $13,704
- Hours/week
- 45
-
Anthony Klee
Lineman
- Total calculated
- $165,240
- From this org
- $119,800
- From related orgs
- $0
- Other
- $45,440
- Hours/week
- 45.1
Schedule J breakdown matched by us
- Base
- $117,603
- Bonus
- $0
- Other
- $2,197
- Deferred
- $13,758
- Nontaxable benefits
- $31,767
- Filer's total
- $165,325
-
Tanner Clasen
Lineman
- Total calculated
- $145,236
- From this org
- $121,431
- From related orgs
- $0
- Other
- $23,805
- Hours/week
- 44.8
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 · Independent compensation consultant
- 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
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.
-
Mille Lacs Electric Community Trust
501(c)(3) · Community Trust · MN · controlled entity
Directly controlled by Mille Lacs Energy Cooperative
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 1 May 2023
- IRS schema version
- 2022v5.0
- Source object
- 202311239349302571
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