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Nonprofiteer
← COLTON TELEPHONE COMPANY

Form 990 for tax year 2023

Filed by COLTON TELEPHONE COMPANY.

Totals

Total revenue
$3,445,506
Total expenses
$2,705,848
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,387,285
Investment income
$58,221
Other revenue
$0
Total assets, end of year
$12,679,999
Total liabilities, end of year
$5,246,870
Net assets or fund balances, end of year
$7,433,129
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: TELECOMMUNICATIONS

    total $3,387,285 · related or exempt $3,387,285

  • 3 · Investment income

    total $49,515 · excluded $49,515

  • 7a · Gross sales of assets other than inventory

    securities $8,706

  • 7b · Less cost or other basis and sales expenses

    securities $0

  • 7c · Gain or loss

    securities $8,706

  • 7d · Net gain or loss

    total $8,706 · related or exempt $8,706

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $295,313

  • 5 · Compensation of officers, directors and key employees

    total $331,260

  • 20 · Interest

    total $126,722

  • 22 · Depreciation, depletion and amortization

    total $383,270

  • 24a · Other expenses: PLANT SPECIFIC

    total $636,713

  • 24b · Other expenses: CORPORATE

    total $438,772

  • 24c · Other expenses: PLANT NON-SPEC, NON-REG

    total $399,174

  • 24d · Other expenses: CUSTOMER

    total $94,624

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,725,655 · end of year $2,973,525

  • 4 · Accounts receivable

    beginning of year $478,117 · end of year $238,692

  • 8 · Inventories for sale or use

    beginning of year $42,438 · end of year $183,590

  • 9 · Prepaid expenses and deferred charges

    beginning of year $392,837 · end of year $347,815

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

    $15,837,859

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

    $7,813,687

  • 10c · Land, buildings and equipment, net

    beginning of year $7,697,221 · end of year $8,024,172

  • 13 · Investments: program-related

    beginning of year $811,494 · end of year $868,508

  • 15 · Other assets

    beginning of year $26,577 · end of year $43,697

  • 17 · Accounts payable and accrued expenses

    beginning of year $153,753 · end of year $310,952

  • 23 · Secured mortgages and notes payable

    beginning of year $4,525,205 · end of year $4,210,449

  • 25 · Other liabilities

    beginning of year $928,507 · end of year $725,469

  • 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 $6,566,874 · end of year $7,433,129

Mission and programs · 2023

Mission

TO BE A COMMUNITY-MINDED, QUALITY-FOCUSED, SERVICE-CENTERED, AND VALUE-DRIVEN TELECOMMUNICATIONS PROVIDER.

  • PROVIDE TELECOMMUNICATIONS SERVICE TO COOPERATIVE MEMBERS. AT DECEMBER 31, 2023, 336 LINES WERE IN SERVICE.

As filed on the 2023 return.

Listed in Part VII

  • Pete Dostert

    VICE PRESIDENT

    Total calculated
    $996
    From this org
    $996
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Wales

    DIRECTOR

    Total calculated
    $1,999
    From this org
    $1,999
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kelly Stephens

    DIRECTOR

    Total calculated
    $1,999
    From this org
    $1,999
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Nina Baurer

    PRESIDENT

    Total calculated
    $2,180
    From this org
    $2,180
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Grant Stanbro

    DIRECTOR

    Total calculated
    $2,180
    From this org
    $2,180
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Lyons

    DIRECTOR

    Total calculated
    $3,943
    From this org
    $3,943
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeremy Fraijo

    SECRETARY

    Total calculated
    $1,385
    From this org
    $1,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Stephanie Sauvageau

    CFO

    Total calculated
    $178,895
    From this org
    $105,577
    From related orgs
    $0
    Other
    $73,318
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,577
    Bonus
    $0
    Other
    $0
    Deferred
    $32,120
    Nontaxable benefits
    $41,198
    Filer's total
    $178,895

  • Geri Fraijo

    COO

    Total calculated
    $137,680
    From this org
    $97,010
    From related orgs
    $0
    Other
    $40,670
    Hours/week
    28

  • Dave Conditt

    CO/IT SUPERVISOR

    Total calculated
    $169,646
    From this org
    $117,525
    From related orgs
    $0
    Other
    $52,121
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $117,525
    Bonus
    $0
    Other
    $0
    Deferred
    $34,545
    Nontaxable benefits
    $17,576
    Filer's total
    $169,646

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

The filer's explanations (Part III)

FORM 990, PART VII AND SCHEDULE J, PART II
GERI FRAIJO, GENERAL MANAGER AND EMPLOYEE OF MONITOR TELEPHONE COOPERATIVE COMPANY, PROVIDES GENERAL MANAGER SERVICES TO COLTON TELEPHONE COMPANY THROUGH A MANAGEMENT SERVICES AGREEMENT BETWEEN THE TWO COOPERATIVES. THE AMOUNT OF COMPENSATION RELATED TO THE PERFORMANCE OF THESE SERVICES IS INCLUDED IN FORM 990, PART VII AND SCHEDULE J, PART II. MONITOR BILLS COLTON FOR THE SERVICES AND PAYS THEIR GENERAL MANAGER'S SALARY AND BENEFITS BASED ON PERFORMANCE OF BOTH POSITIONS.

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.

  • WILLAMETTE COMMUNICATIONS INC

    C · TELECOMMUNICATIONS · OR · 100% owned · share of income $99,810 · share of assets $118,953

    Directly controlled by COLTON TELEPHONE COMPANY

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2024
IRS schema version
2023v5.0
Source object
202421359349311572

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