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Nonprofiteer
← LINCOLN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by LINCOLN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$16,409,368
Total expenses
$15,388,213
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,617,058
Investment income
$139,221
Other revenue
$1,653,089
Total assets, end of year
$39,959,026
Total liabilities, end of year
$24,148,793
Net assets or fund balances, end of year
$15,810,233
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: Electricity Sales

    total $14,543,262 · related or exempt $14,543,262

  • 2b · Program service revenue: Other electric revenue

    total $73,796 · related or exempt $73,796

  • 3 · Investment income

    total $122,510 · related or exempt $87,404 · unrelated business $3,080 · excluded $32,026

  • 6a · Gross rents

    personal property $8,725

  • 6c · Rental income or loss

    personal property $8,725

  • 6d · Net rental income or loss

    total $8,725 · excluded $8,725

  • 7a · Gross sales of assets other than inventory

    securities $16,711

  • 7c · Gain or loss

    securities $16,711

  • 7d · Net gain or loss

    total $16,711 · related or exempt $13,421 · unrelated business $3,290

  • 8c · Net income from fundraising events

    total $0

  • 10a · Gross sales of inventory

    $3,176,979

  • 10b · Cost of goods sold

    $1,556,655

  • 10c · Net income from sales of inventory

    total $1,620,324 · unrelated business $1,620,324

  • 11a · Other revenue: Other non-operatingnet

    total $24,040 · related or exempt $24,040

  • 11e · Other revenue, total

    $24,040

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $410,661

  • 5 · Compensation of officers, directors and key employees

    total $693,852

  • 7 · Other salaries and wages

    total $3,055,229

  • 8 · Pension plan contributions

    total $646,211

  • 9 · Other employee benefits

    total $512,275

  • 10 · Payroll taxes

    total $278,806

  • 11b · Fees: legal

    total $19,119

  • 11c · Fees: accounting

    total $16,950

  • 12 · Advertising and promotion

    total $5,747

  • 13 · Office expenses

    total $224,017

  • 14 · Information technology

    total $127,684

  • 16 · Occupancy

    total $17,225

  • 17 · Travel

    total $101,731

  • 19 · Conferences, conventions and meetings

    total $134,849

  • 20 · Interest

    total $775,255

  • 22 · Depreciation, depletion and amortization

    total $1,268,158

  • 23 · Insurance

    total $119,670

  • 24a · Other expenses: Cost of power

    total $6,128,156 · program services $6,128,156

  • 24b · Other expenses: Distribution-operations

    total $1,751,187 · program services $1,751,187

  • 24c · Other expenses: Administration and general

    total $1,990,071 · program services $1,990,071

  • 24d · Other expenses: Distribution-maintenance

    total $1,044,713 · program services $1,044,713

  • 24e · All other expenses

    total -$3,933,353

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $80,655 · end of year $193,284

  • 2 · Savings and temporary cash investments

    beginning of year $1,247,741 · end of year $1,466,102

  • 4 · Accounts receivable

    beginning of year $2,614,252 · end of year $1,844,834

  • 7 · Other notes and loans receivable

    beginning of year $246,013 · end of year $196,534

  • 8 · Inventories for sale or use

    beginning of year $3,211,336 · end of year $3,839,812

  • 9 · Prepaid expenses and deferred charges

    beginning of year $504,400 · end of year $515,531

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

    $47,895,351

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

    $17,678,952

  • 10c · Land, buildings and equipment, net

    beginning of year $29,085,619 · end of year $30,216,399

  • 13 · Investments: program-related

    beginning of year $1,479,184 · end of year $1,532,475

  • 14 · Intangible assets

    beginning of year $56,413 · end of year $154,055

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,323,078 · end of year $1,893,683

  • 19 · Deferred revenue

    beginning of year $1,468,674 · end of year $1,367,790

  • 23 · Secured mortgages and notes payable

    beginning of year $18,380,497 · end of year $19,666,175

  • 24 · Unsecured notes and loans payable

    beginning of year $1,395,823 · end of year $1,040,141

  • 25 · Other liabilities

    beginning of year $168,463 · end of year $181,004

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

    beginning of year $1,883,782 · end of year $1,947,564

  • 31 · Retained earnings, endowment or other funds

    beginning of year $12,905,296 · end of year $13,862,669

Mission and programs · 2024

Mission

Lincoln Electric Cooperative, Inc. is an electric distribution cooperative established to provide electrical power and services to its members located in portions of Lincoln and Flathead counties of Montana.

  • Cooperative resources and activities are related to providing electrical power and services to its members located in portions of Lincoln and Flathead counties of Montana.

As filed on the 2024 return.

Listed in Part VII

  • Kylie Larson

    Interim GMHR

    Total calculated
    $222,127
    From this org
    $158,673
    From related orgs
    $0
    Other
    $63,454
    Hours/week
    44

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $142,035
    Bonus
    $14,114
    Other
    $2,524
    Deferred
    $38,360
    Nontaxable benefits
    $25,094
    Filer's total
    $222,127

  • Stan Williams

    Operations Manager

    Total calculated
    $220,978
    From this org
    $151,508
    From related orgs
    $0
    Other
    $69,470
    Hours/week
    40

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $143,890
    Bonus
    $7,618
    Other
    not reported
    Deferred
    $44,180
    Nontaxable benefits
    $25,290
    Filer's total
    $220,978

  • Edward Sutherland

    Foreman

    Total calculated
    $201,582
    From this org
    $153,246
    From related orgs
    $0
    Other
    $48,336
    Hours/week
    45

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $120,060
    Bonus
    $1,203
    Other
    $31,983
    Deferred
    $34,926
    Nontaxable benefits
    $13,410
    Filer's total
    $201,582

  • Ryan Cameron

    Lineman

    Total calculated
    $201,279
    From this org
    $155,881
    From related orgs
    $0
    Other
    $45,398
    Hours/week
    46

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $118,675
    Bonus
    $802
    Other
    $36,404
    Deferred
    $32,092
    Nontaxable benefits
    $13,306
    Filer's total
    $201,279

  • Matthew Quinn

    General Manager

    Total calculated
    $197,170
    From this org
    $196,045
    From related orgs
    $0
    Other
    $1,125
    Hours/week
    42

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $120,513
    Bonus
    $2,918
    Other
    $72,614
    Deferred
    not reported
    Nontaxable benefits
    $1,125
    Filer's total
    $197,170

  • Brendan Nichols

    Lineman

    Total calculated
    $197,129
    From this org
    $152,029
    From related orgs
    $0
    Other
    $45,100
    Hours/week
    47

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $110,124
    Bonus
    $802
    Other
    $41,103
    Deferred
    $31,794
    Nontaxable benefits
    $13,306
    Filer's total
    $197,129

  • Dawson McCully

    Lineman

    Total calculated
    $189,318
    From this org
    $144,284
    From related orgs
    $0
    Other
    $45,034
    Hours/week
    46

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $108,568
    Bonus
    $802
    Other
    $34,914
    Deferred
    $31,728
    Nontaxable benefits
    $13,306
    Filer's total
    $189,318

  • Michelle Wilbur

    CFO

    Total calculated
    $145,784
    From this org
    $145,784
    From related orgs
    $0
    Other
    $0
    Hours/week
    44

  • Tina Tuarman

    President

    Total calculated
    $17,260
    From this org
    $17,250
    From related orgs
    $0
    Other
    $10
    Hours/week
    20

  • Marianne Rose

    Trustee

    Total calculated
    $16,656
    From this org
    $16,650
    From related orgs
    $0
    Other
    $6
    Hours/week
    16

  • Rick Peterson

    Trustee

    Total calculated
    $8,260
    From this org
    $8,250
    From related orgs
    $0
    Other
    $10
    Hours/week
    5

  • Sandra Mason

    SecretaryTreasurer

    Total calculated
    $8,110
    From this org
    $8,100
    From related orgs
    $0
    Other
    $10
    Hours/week
    6

  • Myra Appel

    Trustee

    Total calculated
    $5,860
    From this org
    $5,850
    From related orgs
    $0
    Other
    $10
    Hours/week
    4

  • David Purdy

    Trustee

    Total calculated
    $5,860
    From this org
    $5,850
    From related orgs
    $0
    Other
    $10
    Hours/week
    6

  • Rodney Kane

    Trustee

    Total calculated
    $5,260
    From this org
    $5,250
    From related orgs
    $0
    Other
    $10
    Hours/week
    6

  • Joel Graves

    Vice-President

    Total calculated
    $3,610
    From this org
    $3,600
    From related orgs
    $0
    Other
    $10
    Hours/week
    2

  • Ethel White

    Trustee

    Total calculated
    $903
    From this org
    $900
    From related orgs
    $0
    Other
    $3
    Hours/week
    1

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $900
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $3
    Filer's total
    $903

  • Rebecca Evins

    Trustee

    Total calculated
    $0
    Hours/week
    0

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

None.

Answered no

None.

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.

  • Rural Propane Services

    Sale of Propane and related services · MT · assets $3,837,741

    Directly controlled by Lincoln Electric Cooperative

Provenance

Return type
form_990
Tax year
2024
Filed
6 May 2025
IRS schema version
2024v5.2
Source object
202513109349303941

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