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Nonprofiteer
← OAHE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by OAHE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$16,522,300
Total expenses
$16,522,300
Contributions and grants received
$0
Grants paid
$5,796
Program service revenue
$16,282,376
Investment income
$237,945
Other revenue
$1,979
Total assets, end of year
$41,850,027
Total liabilities, end of year
$26,320,946
Net assets or fund balances, end of year
$15,529,081
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: SALE OF POWER

    total $15,247,518 · related or exempt $15,247,518

  • 2b · Program service revenue: G&T CAPITAL CREDITS

    total $1,027,132 · related or exempt $1,027,132

  • 2f · All other program service revenue

    total $7,726 · related or exempt $7,726

  • 3 · Investment income

    total $237,945 · excluded $237,945

  • 10a · Gross sales of inventory

    $17,294

  • 10b · Cost of goods sold

    $15,315

  • 10c · Net income from sales of inventory

    total $1,979 · related or exempt $1,979

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,796

  • 4 · Benefits paid to or for members

    total $1,508,008

  • 5 · Compensation of officers, directors and key employees

    total $549,547

  • 7 · Other salaries and wages

    total $1,164,564

  • 8 · Pension plan contributions

    total $383,826

  • 10 · Payroll taxes

    total $112,351

  • 20 · Interest

    total $595,387

  • 22 · Depreciation, depletion and amortization

    total $1,022,491

  • 24a · Other expenses: COST OF POWER

    total $10,390,994

  • 24b · Other expenses: ADMIN & GENERAL

    total $960,587

  • 24c · Other expenses: DISTRIBUTION-OPERATIONS

    total $894,072

  • 24d · Other expenses: DISTRIBUTION-MAINTENANC

    total $561,972

  • 24e · All other expenses

    total -$1,627,295

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,231,322 · end of year $5,359,387

  • 4 · Accounts receivable

    beginning of year $1,054,482 · end of year $2,218,411

  • 8 · Inventories for sale or use

    beginning of year $715,200 · end of year $1,688,161

  • 9 · Prepaid expenses and deferred charges

    beginning of year $124,946 · end of year $76,758

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

    $34,118,458

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

    $12,267,731

  • 10c · Land, buildings and equipment, net

    beginning of year $20,796,646 · end of year $21,850,727

  • 11 · Investments: publicly traded securities

    beginning of year $1,751,396 · end of year $1,646,247

  • 12 · Investments: other securities

    beginning of year $84,656 · end of year $85,516

  • 13 · Investments: program-related

    beginning of year $8,087,637 · end of year $8,878,459

  • 15 · Other assets

    beginning of year $147,864 · end of year $46,361

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,585,736 · end of year $4,149,855

  • 21 · Escrow or custodial account liability

    beginning of year $15,458 · end of year $16,659

  • 23 · Secured mortgages and notes payable

    beginning of year $18,560,027 · end of year $20,532,676

  • 25 · Other liabilities

    beginning of year $1,373,221 · end of year $1,621,756

  • 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 $14,459,707 · end of year $15,529,081

Mission and programs · 2023

Mission

OAHE ELECTRIC COOPERATIVE'S MISSION IS TO PROVIDE MEMBERS/OWNERS AND THE PUBLIC WITH EXTRAORDINARY VALUE THROUGH COMPETITIVELY PRICED SERVICES AND PRODUCTS AND TO ENHANCE THE QUALITY OF LIFE AND CREATE GROWTH OPPORTUNITIES IN OUR SERVICE AREA.

Activities or mission (Part I)

TO PROVIDE MEMBERS/OWNERS AND THE PUBLIC WITH HIGH QUALITY, COMPETITIVELY PRICED ELECTRIC SERVICE.

  • PROVIDED ELECTRICITY TO APPROXIMATELY 3,354 RURAL ELECTRIC COOPERATIVE MEMBERS AND MAINTAINED 1,228 MILES OF OVERHEAD AND UNDERGROUND LINES.

As filed on the 2023 return.

Listed in Part VII

  • James Feller

    ASSISTANT SECRETARY

    Total calculated
    $13,338
    From this org
    $11,219
    From related orgs
    $0
    Other
    $2,119
    Hours/week
    1.1

  • Ross Sperry

    SECRETARY

    Total calculated
    $12,628
    From this org
    $11,714
    From related orgs
    $0
    Other
    $914
    Hours/week
    2.6

  • Kirk Yackley

    VICE PRESIDENT

    Total calculated
    $10,250
    From this org
    $9,925
    From related orgs
    $0
    Other
    $325
    Hours/week
    1.5

  • Ryan Noyes

    TREASURER

    Total calculated
    $11,228
    From this org
    $10,314
    From related orgs
    $0
    Other
    $914
    Hours/week
    1.1

  • Brandon Haag

    PRESIDENT

    Total calculated
    $14,034
    From this org
    $11,917
    From related orgs
    $0
    Other
    $2,117
    Hours/week
    1.4

  • Jordan Lamb

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $247,408
    From this org
    $196,069
    From related orgs
    $0
    Other
    $51,339
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,069
    Bonus
    $0
    Other
    $0
    Deferred
    $22,562
    Nontaxable benefits
    $30,350
    Filer's total
    $248,981

  • Valerie Marso

    CHIEF FINANCIAL OFFICER

    Total calculated
    $238,543
    From this org
    $131,672
    From related orgs
    $0
    Other
    $106,871
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,672
    Bonus
    $0
    Other
    $0
    Deferred
    $76,295
    Nontaxable benefits
    $32,523
    Filer's total
    $240,490

  • Matthew Eldridge

    CHIEF OPERATIONS OFFICER

    Total calculated
    $239,321
    From this org
    $124,158
    From related orgs
    $0
    Other
    $115,163
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,158
    Bonus
    $0
    Other
    $0
    Deferred
    $82,436
    Nontaxable benefits
    $34,594
    Filer's total
    $241,188

  • Mark Bruning

    LINE FOREMAN

    Total calculated
    $209,544
    From this org
    $105,279
    From related orgs
    $0
    Other
    $104,265
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,279
    Bonus
    $0
    Other
    $0
    Deferred
    $71,539
    Nontaxable benefits
    $34,348
    Filer's total
    $211,166

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

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C
INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $12,770 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR JORDAN LAMB. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $53,298 FOR MR. LAMB. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $69,703 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR VALERIE MARSO. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $38,493 FOR MS. MARSO. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $76,211 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MATTHEW ELDRIDGE. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $36,124 FOR MR. ELDRIDGE. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $66,529 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR MARK BRUNING. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $29,378 FOR MR. BRUNING.

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
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202413169349303111

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