Skip to content
Nonprofiteer
← FERGUS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by FERGUS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$31,037,162
Total expenses
$26,382,359
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$28,842,552
Investment income
$78,319
Other revenue
$2,116,291
Total assets, end of year
$63,208,877
Total liabilities, end of year
$19,851,718
Net assets or fund balances, end of year
$43,357,159
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: FROM CSA IMPORT

    total $28,842,552 · related or exempt $28,842,552

  • 3 · Investment income

    total $78,319 · related or exempt $78,319

  • 11a · Other revenue: G & T COOP CAP. CREDITS

    total $2,045,782 · related or exempt $2,045,782

  • 11b · Other revenue: OTHER CAP. CR. & PATR. DIVIDE

    total $70,522 · related or exempt $70,522

  • 11c · Other revenue: ROUNDING ERROR

    total -$13 · related or exempt -$13

  • 11e · Other revenue, total

    $2,116,291

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $363,583

  • 8 · Pension plan contributions

    total $182,624

  • 9 · Other employee benefits

    total $10,221

  • 11b · Fees: legal

    total $94,425

  • 11c · Fees: accounting

    total $56,727

  • 12 · Advertising and promotion

    total $10,765

  • 13 · Office expenses

    total $22,978

  • 20 · Interest

    total $477,630

  • 22 · Depreciation, depletion and amortization

    total $2,132,732

  • 24a · Other expenses: COGS

    total $18,102,808

  • 24b · Other expenses: DISTRIBUTION EXPENSE- PRO

    total $540,517

  • 24c · Other expenses: MAINT-OVERHEAD LINES

    total $289,467

  • 24d · Other expenses: OPER. SUPERVISION

    total $267,349

  • 24e · All other expenses

    total $3,830,533

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,143,462 · end of year $82,918

  • 2 · Savings and temporary cash investments

    beginning of year $1,463,703 · end of year $1,006,239

  • 4 · Accounts receivable

    beginning of year $2,419,208 · end of year $2,797,145

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,091 · end of year $769

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

    $72,208,618

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

    $31,820,724

  • 10c · Land, buildings and equipment, net

    beginning of year $38,778,439 · end of year $40,387,894

  • 12 · Investments: other securities

    beginning of year $6,118,066 · end of year $8,208,069

  • 15 · Other assets

    beginning of year $3,463,973 · end of year $10,725,843

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,727,757 · end of year $2,803,744

  • 19 · Deferred revenue

    beginning of year $1,531,114 · end of year $1,610,294

  • 23 · Secured mortgages and notes payable

    beginning of year $10,312,864 · end of year $15,437,680

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

    beginning of year $39,818,207 · end of year $43,357,146

  • 31 · Retained earnings, endowment or other funds

    end of year $13

Mission and programs · 2023

Mission

THE MISSION OF FERGUS ELECTRIC COOPERATIVE IS TO PROVIDE RELIABLE, SAFE, AND AFFORDABLE ENERGY SERVICES TO THE COMMUNITIES WE SERVE. WHO WE ARE: WE ARE A NON-PROFIT COOPERATIVE UTILITY OWNED, OPERATED AND SUPPORTED BY MEMBERS IN CENTRAL MONTANA. WHAT WE DO: WE DISTRIBUTE ELECTRICITY AND ANCILLARY SERVICES TO 14 CENTRAL MONTANA COUNTIES: BLAINE, CASCADE, CHOTEAU, FERGUS, GOLDEN VALLEY, JUDITH BASIN, MEAGHER, MUSSELSHELL, PETROLEUM, STILLWATER, SWEET GRASS, TREASURE, WHEATLAND, AND YELLOWSTONE. WHAT WE VALUE: WE VALUE INTEGRITY, RELIABILITY, QUALITY, AFFORDABILITY, AND EMPLOYEES IN SERVING OUR COMMUNITY AND MEMBER-OWNERS. WHAT WE ASPIRE TO BECOME: WE ARE WORKING TO BECOME THE TRUSTED PROVIDER FOR ALL ENERGY AND ENERGY RELATED SERVICES THAT OUR MEMBERS REQUIRE.

  • THE MISSION OF FERGUS ELECTRIC COOPERATIVE IS TO PROVIDE RELIABLE, SAFE, AND AFFORDABLE ENERGY SERVICES TO THE COMMUNITIES WE SERVE. WHO WE ARE: WE ARE A NON-PROFIT COOPERATIVE UTILITY OWNED, OPERATED AND SUPPORTED BY MEMBERS IN CENTRAL MONTANA. WHAT WE DO: WE DISTRIBUTE ELECTRICITY AND ANCILLARY SERVICES TO 14 CENTRAL MONTANA COUNTIES: BLAINE, CASCADE, CHOTEAU, FERGUS, GOLDEN VALLEY, JUDITH BASIN, MEAGHER, MUSSELSHELL, PETROLEUM, STILLWATER, SWEET GRASS, TREASURE, WHEATLAND, AND YELLOWSTONE. WHAT WE VALUE: WE VALUE INTEGRITY, RELIABILITY, QUALITY, AFFORDABILITY, AND EMPLOYEES IN SERVING OUR COMMUNITY AND MEMBER-OWNERS. WHAT WE ASPIRE TO BECOME: WE ARE WORKING TO BECOME THE TRUSTED PROVIDER FOR ALL ENERGY AND ENERGY RELATED SERVICES THAT OUR MEMBERS REQUIRE.

  • THE MISSION OF FERGUS ELECTRIC COOPERATIVE IS TO PROVIDE RELIABLE, SAFE, AND AFFORDABLE ENERGY SERVICES TO THE COMMUNITIES WE SERVE. WHO WE ARE: WE ARE A NON-PROFIT COOPERATIVE UTILITY OWNED, OPERATED AND SUPPORTED BY MEMBERS IN CENTRAL MONTANA. WHAT WE DO: WE DISTRIBUTE ELECTRICITY AND ANCILLARY SERVICES TO 14 CENTRAL MONTANA COUNTIES: BLAINE, CASCADE, CHOTEAU, FERGUS, GOLDEN VALLEY, JUDITH BASIN, MEAGHER, MUSSELSHELL, PETROLEUM, STILLWATER, SWEET GRASS, TREASURE, WHEATLAND, AND YELLOWSTONE. WHAT WE VALUE: WE VALUE INTEGRITY, RELIABILITY, QUALITY, AFFORDABILITY, AND EMPLOYEES IN SERVING OUR COMMUNITY AND MEMBER-OWNERS. WHAT WE ASPIRE TO BECOME: WE ARE WORKING TO BECOME THE TRUSTED PROVIDER FOR ALL ENERGY AND ENERGY RELATED SERVICES THAT OUR MEMBERS REQUIRE.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carson Sweeney

    EMPLOYEE

    Total calculated
    $186,048
    From this org
    $186,048
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $186,048
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $186,048

  • Jason Swanz

    SEC/TREAS

    Total calculated
    $43,622
    From this org
    $43,622
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brad Arntzen

    ASSISTANT SE

    Total calculated
    $40,688
    From this org
    $40,688
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Paul Descheemaeker

    PRESIDENT

    Total calculated
    $35,429
    From this org
    $35,429
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.5

  • Terry Frost

    VICE PRESIDE

    Total calculated
    $32,179
    From this org
    $32,179
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Cathy Kombol

    BOARD MEMBER

    Total calculated
    $31,929
    From this org
    $31,929
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Brett Maxwell

    BOARD MEMBER

    Total calculated
    $17,537
    From this org
    $17,537
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Bob Evans

    BOARD MEMBER

    Total calculated
    $17,412
    From this org
    $17,412
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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

  • 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
2023
Filed
30 September 2024
IRS schema version
2023v6.0
Source object
202640229349300719

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.