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Nonprofiteer
← ADAMS-COLUMBIA ELECTRIC CO-OP

Form 990 for tax year 2022

Filed by ADAMS-COLUMBIA ELECTRIC CO-OP.

Totals

Total revenue
$91,789,305
Total expenses
$91,638,180
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$86,300,235
Investment income
$4,363,828
Other revenue
$1,125,242
Total assets, end of year
$247,710,585
Total liabilities, end of year
$136,103,675
Net assets or fund balances, end of year
$111,606,910
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: ELECTRIC REVENUES

    total $85,471,818 · related or exempt $85,471,818

  • 2b · Program service revenue: CAPITAL CREDITS AND POLE RENT

    total $828,417 · excluded $828,417

  • 3 · Investment income

    total $460,608 · excluded $460,608

  • 7a · Gross sales of assets other than inventory

    other assets $10,196,862

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

    other assets $6,293,642

  • 7c · Gain or loss

    other assets $3,903,220

  • 7d · Net gain or loss

    total $3,903,220 · related or exempt $3,903,220

  • 10a · Gross sales of inventory

    $41,363

  • 10c · Net income from sales of inventory

    total $41,363 · unrelated business $41,363

  • 11a · Other revenue: ATC ALLOCATION

    total $1,059,157 · excluded $1,059,157

  • 11b · Other revenue: IRP AND ECONOMIC DEVELOPMENT

    total $25,519 · excluded $25,519

  • 11c · Other revenue: MIDWISCONSIN DBS, LLC

    total -$797 · unrelated business -$797

  • 11e · Other revenue, total

    $1,083,879

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $11,863,989

  • 5 · Compensation of officers, directors and key employees

    total $370,909

  • 20 · Interest

    total $5,049,367

  • 22 · Depreciation, depletion and amortization

    total $9,440,616

  • 24a · Other expenses: COST OF POWER

    total $50,611,180

  • 24b · Other expenses: MAINTENANCE EXPENSE

    total $3,917,767

  • 24c · Other expenses: OPERATIONS EXPENSE

    total $3,523,281

  • 24d · Other expenses: ADMIN & GENERAL

    total $2,861,946

  • 24e · All other expenses

    total $3,999,125

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,781,154 · end of year $712,701

  • 2 · Savings and temporary cash investments

    beginning of year $5,364,861 · end of year $3,627,673

  • 4 · Accounts receivable

    beginning of year $7,682,610 · end of year $8,841,658

  • 7 · Other notes and loans receivable

    beginning of year $1,411,114 · end of year $1,048,630

  • 8 · Inventories for sale or use

    beginning of year $1,978,848 · end of year $3,025,846

  • 9 · Prepaid expenses and deferred charges

    beginning of year $364,470 · end of year $473,425

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

    $289,731,804

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

    $87,014,606

  • 10c · Land, buildings and equipment, net

    beginning of year $200,069,580 · end of year $202,717,198

  • 12 · Investments: other securities

    beginning of year $1,768,870 · end of year $1,555,679

  • 13 · Investments: program-related

    beginning of year $24,990,943 · end of year $25,355,297

  • 15 · Other assets

    beginning of year $834,342 · end of year $352,478

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,661,675 · end of year $4,811,656

  • 23 · Secured mortgages and notes payable

    beginning of year $125,503,613 · end of year $124,854,282

  • 25 · Other liabilities

    beginning of year $6,571,328 · end of year $6,437,737

  • 31 · Retained earnings, endowment or other funds

    beginning of year $110,510,176 · end of year $111,606,910

Mission and programs · 2022

Mission

TO SUPPLY ELECTRICITY TO ITS MEMBERS.

  • SUPPLYING ELECTRICITY TO ITS MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • John West

    GENERAL MANA

    Total calculated
    $294,484
    From this org
    $249,708
    From related orgs
    $0
    Other
    $44,776
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $249,708
    Bonus
    not reported
    Other
    not reported
    Deferred
    $21,750
    Nontaxable benefits
    $23,026
    Filer's total
    $294,484

  • Jon Congdon

    OPERATIONS M

    Total calculated
    $234,830
    From this org
    $157,248
    From related orgs
    $0
    Other
    $77,582
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $157,248
    Bonus
    not reported
    Other
    not reported
    Deferred
    $49,355
    Nontaxable benefits
    $28,227
    Filer's total
    $234,830

  • Steven Lois

    JOURNEYMAN L

    Total calculated
    $199,758
    From this org
    $129,887
    From related orgs
    $0
    Other
    $69,871
    Hours/week
    58

    Schedule J breakdown matched by us

    Base
    $129,887
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,644
    Nontaxable benefits
    $28,227
    Filer's total
    $199,758

  • Shawn Pietrzak

    OPER SUPERVI

    Total calculated
    $198,155
    From this org
    $129,794
    From related orgs
    $0
    Other
    $68,361
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $129,794
    Bonus
    not reported
    Other
    not reported
    Deferred
    $45,335
    Nontaxable benefits
    $23,026
    Filer's total
    $198,155

  • Mindy Kerska

    MEM SVCS/TRA

    Total calculated
    $193,805
    From this org
    $141,818
    From related orgs
    $0
    Other
    $51,987
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $141,818
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,448
    Nontaxable benefits
    $10,539
    Filer's total
    $193,805

  • Elizabeth Hendricksen

    FIN MANAGER

    Total calculated
    $193,635
    From this org
    $147,717
    From related orgs
    $0
    Other
    $45,918
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $147,717
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,621
    Nontaxable benefits
    $18,297
    Filer's total
    $193,635

  • Kendal Nichols

    EX DIRECTOR

    Total calculated
    $65,973
    From this org
    $24,001
    From related orgs
    $0
    Other
    $41,972

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $24,001
    Deferred
    $41,972
    Nontaxable benefits
    not reported
    Filer's total
    $65,973

  • Marjorie Colby

    EX DIRECTOR

    Total calculated
    $21,992
    From this org
    $12,855
    From related orgs
    $0
    Other
    $9,137

    Schedule J breakdown matched by us

    Base
    not reported
    Bonus
    not reported
    Other
    $12,855
    Deferred
    $9,137
    Nontaxable benefits
    not reported
    Filer's total
    $21,992

  • Aaron Hoernke

    DIRECTOR - C

    Total calculated
    $15,425
    From this org
    $15,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.4

  • Gary Skolarz

    DIRECTOR - S

    Total calculated
    $11,775
    From this org
    $11,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.1

  • Jon Ebert

    DIRECTOR

    Total calculated
    $11,125
    From this org
    $11,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.9

  • Adam Jones

    DIRECTOR

    Total calculated
    $10,525
    From this org
    $10,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • James Kelly

    DIRECTOR - T

    Total calculated
    $9,375
    From this org
    $9,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4

  • Ethan Olson

    DIRECTOR -VI

    Total calculated
    $9,175
    From this org
    $9,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.4

  • Aaron Bonnett

    DIRECTOR

    Total calculated
    $9,025
    From this org
    $9,025
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 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

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
12 May 2023
IRS schema version
2022v5.0
Source object
202321329349304477

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