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← TANNER ELECTRIC

Form 990 for tax year 2024

Filed by TANNER ELECTRIC.

Totals

Total revenue
$14,029,743
Total expenses
$13,954,496
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,592,214
Investment income
$31,136
Other revenue
$406,393
Total assets, end of year
$42,599,254
Total liabilities, end of year
$24,490,351
Net assets or fund balances, end of year
$18,108,903
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: SALES OF ELECTRICITY

    total $13,458,601 · related or exempt $13,458,601

  • 2b · Program service revenue: SERVICE FEES

    total $76,892 · related or exempt $76,892

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $53,131 · related or exempt $53,131

  • 2d · Program service revenue: OTHER PROGRAM REVENUE

    total $3,590 · related or exempt $3,590

  • 3 · Investment income

    total $31,136 · unrelated business $24,737 · excluded $6,399

  • 11a · Other revenue: MISC. NON-OPERATING REVENUE

    total $241,759 · related or exempt $241,759

  • 11b · Other revenue: POLE ATTACHMENT INCOME

    total $164,634 · excluded $164,634

  • 11e · Other revenue, total

    $406,393

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,945,629

  • 5 · Compensation of officers, directors and key employees

    total $1,045,862

  • 7 · Other salaries and wages

    total $1,380,782

  • 8 · Pension plan contributions

    total $110,560

  • 9 · Other employee benefits

    total $94,735

  • 10 · Payroll taxes

    total $141,486

  • 20 · Interest

    total $925,953

  • 22 · Depreciation, depletion and amortization

    total $1,719,870

  • 24a · Other expenses: PURCHASED POWER

    total $3,938,760

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $1,127,469

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $698,402

  • 24d · Other expenses: TAXES

    total $617,737

  • 24e · All other expenses

    total $207,251

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,367,693 · end of year $585,498

  • 4 · Accounts receivable

    beginning of year $3,046,131 · end of year $3,057,136

  • 8 · Inventories for sale or use

    beginning of year $1,092,632 · end of year $1,258,065

  • 9 · Prepaid expenses and deferred charges

    beginning of year $82,886 · end of year $76,374

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

    $64,293,680

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

    $27,603,963

  • 10c · Land, buildings and equipment, net

    beginning of year $33,342,902 · end of year $36,689,717

  • 13 · Investments: program-related

    beginning of year $589,503 · end of year $666,803

  • 15 · Other assets

    beginning of year $212,351 · end of year $265,661

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,358,318 · end of year $1,266,293

  • 23 · Secured mortgages and notes payable

    beginning of year $21,452,745 · end of year $22,622,469

  • 25 · Other liabilities

    beginning of year $460,792 · end of year $601,589

  • 29 · Capital stock, trust principal or current funds

    beginning of year $24,050 · end of year $24,555

  • 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 $16,438,193 · end of year $18,084,348

Mission and programs · 2024

Mission

THE MISSION OF TANNER ELECTRIC COOPERATIVE IS TO PROVIDE RELIABLE, SAFE, SUSTAINABLE ELECTRIC POWER AND RELATED SERVICES TO THE COMMUNITIES WE ARE PROUD TO SERVE.

Activities or mission (Part I)

TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.

  • PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 5,436 ACTIVE SERVICES AT YEAR END.

As filed on the 2024 return.

Listed in Part VII

  • Michael Hodge

    PRESIDENT

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Carol Paschal

    TREASURER

    Total calculated
    $8,800
    From this org
    $8,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.4

  • John Saatela

    DIRECTOR

    Total calculated
    $7,275
    From this org
    $7,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.9

  • Steve Nicholes

    DIRECTOR

    Total calculated
    $6,650
    From this org
    $6,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.1

  • Roger Guay

    VICE PRESIDENT

    Total calculated
    $4,400
    From this org
    $4,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5

  • David McGoldrick

    DIRECTOR

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.9

  • Dutch Siedentopf

    SECRETARY

    Total calculated
    $5,550
    From this org
    $5,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Kristina Michael

    DIRECTOR

    Total calculated
    $3,550
    From this org
    $3,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3

  • Malcolm Lybeck

    PRESIDENT

    Total calculated
    $8,400
    From this org
    $8,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

  • Marc McElney

    DIRECTOR (MAY-DEC)

    Total calculated
    $1,400
    From this org
    $1,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1

  • Steve Walter

    CEO

    Total calculated
    $487,802
    From this org
    $290,607
    From related orgs
    $0
    Other
    $197,195
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $262,047
    Bonus
    $0
    Other
    $28,560
    Deferred
    $142,027
    Nontaxable benefits
    $55,168
    Filer's total
    $487,802

  • Kevin Burns

    DIRECTOR OF FINANCE

    Total calculated
    $235,911
    From this org
    $182,476
    From related orgs
    $0
    Other
    $53,435
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $177,027
    Bonus
    $1,306
    Other
    $4,143
    Deferred
    $27,079
    Nontaxable benefits
    $26,356
    Filer's total
    $235,911

  • Nick Himebauch

    MGR OF OPERATIONS

    Total calculated
    $267,624
    From this org
    $192,091
    From related orgs
    $0
    Other
    $75,533
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,877
    Bonus
    $2,613
    Other
    $601
    Deferred
    $42,875
    Nontaxable benefits
    $32,658
    Filer's total
    $267,624

  • Kye Refvem

    LINEMAN

    Total calculated
    $263,835
    From this org
    $240,415
    From related orgs
    $0
    Other
    $23,420
    Hours/week
    53.5

    Schedule J breakdown matched by us

    Base
    $236,427
    Bonus
    $661
    Other
    $3,327
    Deferred
    $11,937
    Nontaxable benefits
    $11,483
    Filer's total
    $263,835

  • Chad Lohrey

    LEAD LINEMAN

    Total calculated
    $257,623
    From this org
    $232,602
    From related orgs
    $0
    Other
    $25,021
    Hours/week
    50.6

    Schedule J breakdown matched by us

    Base
    $230,180
    Bonus
    $661
    Other
    $1,761
    Deferred
    $13,538
    Nontaxable benefits
    $11,483
    Filer's total
    $257,623

  • Rory Walter

    LINEMAN

    Total calculated
    $255,995
    From this org
    $226,308
    From related orgs
    $0
    Other
    $29,687
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $225,490
    Bonus
    $661
    Other
    $157
    Deferred
    $11,378
    Nontaxable benefits
    $18,309
    Filer's total
    $255,995

  • Blaine Barnard

    LINEMAN

    Total calculated
    $219,701
    From this org
    $196,320
    From related orgs
    $0
    Other
    $23,381
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $195,510
    Bonus
    $653
    Other
    $157
    Deferred
    $11,898
    Nontaxable benefits
    $11,483
    Filer's total
    $219,701

  • Justin Isackson

    FOREMAN

    Total calculated
    $263,699
    From this org
    $207,603
    From related orgs
    $0
    Other
    $56,096
    Hours/week
    48.3

    Schedule J breakdown matched by us

    Base
    $206,657
    Bonus
    $653
    Other
    $293
    Deferred
    $21,644
    Nontaxable benefits
    $34,452
    Filer's total
    $263,699

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE THE CEO FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. STEVE WALTER'S SPOUSE ACCOMANIED HIM ON ONE TRIP DURING THE YEAR.
PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. STEVE WALTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 114,525 EMPLOYER CONTRIBUTION TO 457(B) DEFERRED COMP. PLAN 14,111 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,391 TOTAL REPORTED IN COLUMN C $ 142,027 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (114,525) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 54,430 EXPENSE TO THE COOPERATIVE $ 81,932 NICK HIMEBAUCH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,906 EMPLOYER CONTRIBUTION TO 457(B) DEFERRED COMP. PLAN 9,204 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,765 TOTAL REPORTED IN COLUMN C $ 42,875 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,906) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,350 EXPENSE TO THE COOPERATIVE $ 56,319 KYE REFVEM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,731 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,206 TOTAL REPORTED IN COLUMN C $ 11,937 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,731) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,604 EXPENSE TO THE COOPERATIVE $ 32,810 JUSTIN ISACKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 15,035 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,609 TOTAL REPORTED IN COLUMN C $ 21,644 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (15,035) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,264 EXPENSE TO THE COOPERATIVE $ 35,873 CHAD LOHREY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,443 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,095 TOTAL REPORTED IN COLUMN C $ 13,538 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,443) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,935 EXPENSE TO THE COOPERATIVE $ 34,030 RORY WALTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,615 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,763 TOTAL REPORTED IN COLUMN C $ 11,378 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,615) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,604 EXPENSE TO THE COOPERATIVE $ 32,367 KEVIN BURNS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,124 EMPLOYER CONTRIBUTION TO 457(B) DEFERRED COMP. PLAN 8,687 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,268 TOTAL REPORTED IN COLUMN C $ 27,079 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,124) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,953 EXPENSE TO THE COOPERATIVE $ 52,908 BLAINE BARNARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,924 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,974 TOTAL REPORTED IN COLUMN C $ 11,898 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,924) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,604 EXPENSE TO THE COOPERATIVE $ 32,578

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TANNER WIND ENERGY INC

    C · WIND ENERGY PRODUCTION · WA · 100% owned · share of income $364,677 · share of assets $481,231 · controlled entity

    Directly controlled by TANNER ELECTRIC COOPERATIVE INC

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202523179349302117

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