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Nonprofiteer
← GASCOSAGE ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by GASCOSAGE ELECTRIC COOPERATIVE.

Totals

Total revenue
$19,292,612
Total expenses
$20,241,453
Contributions and grants received
$0
Grants paid
$45,776
Program service revenue
$20,513,095
Investment income
$123,331
Other revenue
-$1,343,814
Total assets, end of year
$70,519,833
Total liabilities, end of year
$40,769,368
Net assets or fund balances, end of year
$29,750,465
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 ELECTRIC ENERGY

    total $20,239,737 · related or exempt $20,239,737

  • 2b · Program service revenue: G & T CAPITAL CREDITS

    total $154,308 · related or exempt $154,308

  • 2c · Program service revenue: OTHER ELECTRIC REVENUE

    total $107,067 · related or exempt $107,067

  • 2d · Program service revenue: EQUIPMENT LEASE

    total $11,983 · related or exempt $11,983

  • 3 · Investment income

    total $123,331 · excluded $123,331

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

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $175,264 · personal property $153,023

  • 6b · Less rental expenses

    real property $1,701,227

  • 6c · Rental income or loss

    real property -$1,525,963 · personal property $153,023

  • 6d · Net rental income or loss

    total -$1,372,940 · unrelated business -$1,536,889 · excluded $163,949

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MANAGEMENT FEES FROM GAS TECH

    total $29,126 · unrelated business $29,126

  • 11e · Other revenue, total

    $29,126

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,789

  • 2 · Grants to domestic individuals

    total $42,987

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $268,644

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $2,137,097

  • 8 · Pension plan contributions

    total $495,720

  • 9 · Other employee benefits

    total $57,496

  • 10 · Payroll taxes

    total $282,062

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $1,938

  • 11g · Fees: other

    total $171,834

  • 12 · Advertising and promotion

    total $23,518

  • 13 · Office expenses

    total $371,252

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $976,405

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,853,752

  • 23 · Insurance

    total $29,596

  • 24a · Other expenses: COST OF POWER

    total $10,996,134

  • 24b · Other expenses: CONSUMER ACCOUNTS

    total $856,694

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $761,650

  • 24d · Other expenses: TAXES

    total $515,922

  • 24e · All other expenses

    total $395,963

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $998,149 · end of year $2,266,244

  • 2 · Savings and temporary cash investments

    beginning of year $329,561 · end of year $886,162

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $2,061,922 · end of year $2,010,401

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $730,980 · end of year $4,135,185

  • 9 · Prepaid expenses and deferred charges

    beginning of year $348,257 · end of year $1,716,906

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

    $72,871,389

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

    $17,857,829

  • 10c · Land, buildings and equipment, net

    beginning of year $49,365,167 · end of year $55,013,560

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $3,853,253 · end of year $3,531,402

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $87,166 · end of year $959,973

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,914,337 · end of year $2,551,555

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $897,198 · end of year $361,073

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $24,141,563 · end of year $36,187,299

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $811,748 · end of year $1,669,441

  • 29 · Capital stock, trust principal or current funds

    beginning of year $162,660 · end of year $762,310

  • 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 $29,846,949 · end of year $28,988,155

Mission and programs · 2022

Mission

GASCOSAGE ELECTRIC COOPERATIVE PROVIDES OUR DIVERSE MEMBERSHIP AN UNSURPASSED LEVEL OF COMPREHENSIVE SERVICE USING THE LATEST PROVEN TECHNOLOGICAL ADVANCES IN THE ELECTRICAL INDUSTRY TO DELIVER RELIABLE AND AFFORDABLE ELECTRICITY IN THE TRADITIONAL STYLE OF PERSONALIZED SERVICE.

Activities or mission (Part I)

TO PURCHASE, ACQUIRE AND ACCUMULATE ELECTRIC ENERGY FOR, AND TO TRANSMIT, DISTRIBUTE, FURNISH, SELL AND DISPOSE OF SUCH ENERGY TO MEMBERS.

  • PURCHASE, ACQUIRE, AND ACCUMULATE ELECTRIC ENERGY FOR, AND TO TRANSMIT, DISTRIBUTE, FURNISH, SELL, AND DISPOSE OF SUCH ENERGY TO MEMBERS, SERVING 10,130 CONNECTED METERS AND 1,590 MILES OF LINE.

  • ENGINEER, CONSTRUCT AND MAINTAIN A FIBER-TO-THE-HOME NETWORK TO DISTRIBUTE AND SELL INTERNET AND VOICE SERVICES TO MEMBERS, CURRENTLY SERVING 121 SUBSCRIBERS AND 70 MILES OF FIBER.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Carmen Hartwell

    GENERAL MANAGER

    Total calculated
    $186,119
    From this org
    $132,371
    From related orgs
    $0
    Other
    $53,748
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $132,371
    Bonus
    $0
    Other
    $0
    Deferred
    $22,618
    Nontaxable benefits
    $31,130
    Filer's total
    $186,119

  • Ronald Wiles

    BOARD DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.52

  • Donald Warnol

    BOARD PRESIDENT/DIRECTOR

    Total calculated
    $10,950
    From this org
    $10,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    17.92

  • Jim Humphrey

    BOARD TREASURER/DIRECTOR

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.4

  • Alice Carlton

    BOARD SECRETARY/DIRECTOR

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.06

  • Jacob Warren

    BOARD DIRECTOR

    Total calculated
    $10,300
    From this org
    $10,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.69

  • Deborah Krumwiede

    BOARD DIRECTOR

    Total calculated
    $9,575
    From this org
    $9,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.12

  • Richard Yelton

    BOARD VICE PRESIDENT/DIRECTOR

    Total calculated
    $6,800
    From this org
    $6,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.1

  • Willard Dean Baker

    BOARD DIRECTOR

    Total calculated
    $6,300
    From this org
    $6,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.73

  • Luther Riddle II

    BOARD DIRECTOR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.07

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 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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GTECH FIBER LLC

    FTTH · MO · income $100,106 · assets $697,668

    Directly controlled by GEC

Related corporations and trusts

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

  • GASCOSAGE TECHNOLOGIES LLC

    C CORP · FIBER OPTICS · MO · 100% owned · share of income -$19,285 · share of assets $57,980 · controlled entity

    Directly controlled by GEC

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343199349312264

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