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← MIDSTATE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by MIDSTATE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$38,478,434
Total expenses
$38,478,434
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$38,123,082
Investment income
$292,455
Other revenue
$62,897
Total assets, end of year
$86,079,392
Total liabilities, end of year
$52,262,498
Net assets or fund balances, end of year
$33,816,894
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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: Electric Sales

    total $38,103,144 · related or exempt $38,103,144 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Dark Fiber Leasing

    total $17,851 · related or exempt $0 · unrelated business $17,851 · excluded $0

  • 2c · Program service revenue: Outside Billings

    total $2,087 · related or exempt $2,087 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $292,455 · related or exempt $0 · unrelated business $0 · excluded $292,455

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $40,205 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $40,205 · personal property $0

  • 6d · Net rental income or loss

    total $40,205 · related or exempt $40,205 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Gain on Disposition of Property

    total $22,692 · related or exempt $22,692 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $22,692

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,790,147

  • 5 · Compensation of officers, directors and key employees

    total $879,895

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $3,474,020

  • 8 · Pension plan contributions

    total $1,145,052

  • 9 · Other employee benefits

    total $1,358,055

  • 10 · Payroll taxes

    total $505,671

  • 11a · Fees: management

    total $3,800

  • 11b · Fees: legal

    total $68,875

  • 11c · Fees: accounting

    total $23,850

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $944,961

  • 12 · Advertising and promotion

    total $516,522

  • 13 · Office expenses

    total $189,209

  • 14 · Information technology

    total $831,527

  • 17 · Travel

    total $96,000

  • 19 · Conferences, conventions and meetings

    total $443,073

  • 20 · Interest

    total $1,472,515

  • 22 · Depreciation, depletion and amortization

    total $3,433,089

  • 23 · Insurance

    total $229,611

  • 24a · Other expenses: Purchased Power

    total $18,252,375

  • 24b · Other expenses: Taxes

    total $842,275

  • 24c · Other expenses: Dues

    total $226,029

  • 24d · Other expenses: General Plant Maintenance

    total $111,457

  • 24e · All other expenses

    total $1,640,426

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $506,664 · end of year $439,688

  • 2 · Savings and temporary cash investments

    beginning of year $52,784 · end of year $53,479

  • 4 · Accounts receivable

    beginning of year $3,933,722 · end of year $5,174,469

  • 5 · Loans and receivables from officers and key people

    beginning of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0

  • 8 · Inventories for sale or use

    beginning of year $1,458,349 · end of year $3,525,298

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,026,361 · end of year $1,988,526

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

    $141,154,674

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

    $68,863,430

  • 10c · Land, buildings and equipment, net

    beginning of year $66,184,809 · end of year $72,291,244

  • 13 · Investments: program-related

    beginning of year $2,542,156 · end of year $2,606,688

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,848,633 · end of year $3,074,526

  • 23 · Secured mortgages and notes payable

    beginning of year $33,677,551 · end of year $43,802,166

  • 25 · Other liabilities

    beginning of year $4,542,701 · end of year $5,385,806

  • 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 $4,552,500 · end of year $4,559,493

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,083,460 · end of year $29,257,401

Mission and programs · 2022

Mission

Midstate Electric Cooperative provides cost-effective reliable utility services to its members.

Activities or mission (Part I)

Delivering and selling electricity to the members of the Cooperative.

  • Distribution of electricity to members: 17,519 members

  • BPA Weatherization Programs:37 jobs completed

As filed on the 2022 return.

Listed in Part VII

  • James Anderson

    General Manager

    Total calculated
    $438,005
    From this org
    $254,387
    From related orgs
    $0
    Other
    $183,618
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $250,767
    Bonus
    $0
    Other
    $3,620
    Deferred
    $140,430
    Nontaxable benefits
    $46,692
    Filer's total
    $441,509

  • Jami Steinhauer

    Chief Financial Officer

    Total calculated
    $315,004
    From this org
    $173,968
    From related orgs
    $0
    Other
    $141,036
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $165,356
    Bonus
    $4,500
    Other
    $4,112
    Deferred
    $133,736
    Nontaxable benefits
    $9,594
    Filer's total
    $317,298

  • Tom Weller

    Engineering Manager

    Total calculated
    $296,649
    From this org
    $181,378
    From related orgs
    $0
    Other
    $115,271
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $167,590
    Bonus
    $4,500
    Other
    $9,288
    Deferred
    $82,954
    Nontaxable benefits
    $34,574
    Filer's total
    $298,906

  • Pat Barker

    Working Foreman Area Coordinator

    Total calculated
    $290,671
    From this org
    $213,185
    From related orgs
    $0
    Other
    $77,486
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,659
    Bonus
    $5,550
    Other
    $61,976
    Deferred
    $47,169
    Nontaxable benefits
    $32,207
    Filer's total
    $292,561

  • Gary Green

    Serviceman

    Total calculated
    $241,650
    From this org
    $163,881
    From related orgs
    $0
    Other
    $77,769
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $105,975
    Bonus
    $1,220
    Other
    $56,686
    Deferred
    $50,823
    Nontaxable benefits
    $28,566
    Filer's total
    $243,270

  • James Powers

    Information Services Manager

    Total calculated
    $240,013
    From this org
    $160,669
    From related orgs
    $0
    Other
    $79,344
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $157,164
    Bonus
    $1,500
    Other
    $2,006
    Deferred
    $52,464
    Nontaxable benefits
    $28,979
    Filer's total
    $242,113

  • Sina Streeter

    Human Resources / Communications Manager

    Total calculated
    $232,947
    From this org
    $161,788
    From related orgs
    $0
    Other
    $71,159
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $155,898
    Bonus
    $4,500
    Other
    $1,389
    Deferred
    $50,854
    Nontaxable benefits
    $22,402
    Filer's total
    $235,043

  • Tyler Graff

    Lineman

    Total calculated
    $204,279
    From this org
    $162,240
    From related orgs
    $0
    Other
    $42,039
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $117,533
    Bonus
    $740
    Other
    $43,967
    Deferred
    $27,471
    Nontaxable benefits
    $16,107
    Filer's total
    $205,818

  • Dan Jansen

    Director

    Total calculated
    $44,388
    From this org
    $44,388
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4

  • Victor Russell

    Chairman

    Total calculated
    $36,578
    From this org
    $36,578
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.29

  • Tanna King

    Secretary / Treasurer

    Total calculated
    $34,787
    From this org
    $34,787
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.78

  • Alan Parks

    Director

    Total calculated
    $31,078
    From this org
    $31,078
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.77

  • Richard Luebke

    Vice Chairman

    Total calculated
    $29,698
    From this org
    $29,698
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.74

  • Garry Journey

    Director

    Total calculated
    $20,614
    From this org
    $20,614
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.86

  • Ron Cass

    Director

    Total calculated
    $19,948
    From this org
    $19,948
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.4

  • Donovan Kendall

    Director

    Total calculated
    $18,500
    From this org
    $18,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.88

  • Wayne Ernst

    Director

    Total calculated
    $14,257
    From this org
    $14,257
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.86

  • Gordon DeArmond

    Director

    Total calculated
    $13,533
    From this org
    $13,533
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.19

  • Ron Sommerfeldt

    Director

    Total calculated
    $6,784
    From this org
    $6,784
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

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
2022
Filed
8 May 2023
IRS schema version
2022v5.0
Source object
202341319349307499

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