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Nonprofiteer
← BAYFIELD ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by BAYFIELD ELECTRIC COOPERATIVE.

Totals

Total revenue
$15,276,420
Total expenses
$14,799,335
Contributions and grants received
$302,180
Grants paid
$0
Program service revenue
$14,532,950
Investment income
$16,802
Other revenue
$424,488
Total assets, end of year
$41,601,216
Total liabilities, end of year
$27,435,581
Net assets or fund balances, end of year
$14,165,635
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$14,799,335

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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $302,180

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Operating Revenue

    total $14,532,950 · related or exempt $14,532,950 · 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 $16,802 · related or exempt $16,802 · unrelated business $0 · excluded $0

  • 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

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 11a · Other revenue: Non-operating Revenue

    total $15,382 · related or exempt $15,382 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Capital Credit Patronage

    total $409,106 · related or exempt $409,106 · unrelated business $0 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $424,488

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $370,897

  • 5 · Compensation of officers, directors and key employees

    total $1,862,334

  • 7 · Other salaries and wages

    total $262,925

  • 8 · Pension plan contributions

    total $37,047

  • 9 · Other employee benefits

    total $38,754

  • 10 · Payroll taxes

    total $154,108

  • 11b · Fees: legal

    total $18,040

  • 11c · Fees: accounting

    total $39,040

  • 12 · Advertising and promotion

    total $39,629

  • 13 · Office expenses

    total $53,182

  • 14 · Information technology

    total $167,244

  • 17 · Travel

    total $69,018

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $4,681

  • 20 · Interest

    total $785,637

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $1,655,031

  • 24a · Other expenses: Gross Revenue Taxes

    total $273,047

  • 24b · Other expenses: Cost of Power

    total $6,590,371

  • 24c · Other expenses: Dues to Member Organizations

    total $58,770

  • 24d · Other expenses: Uncollectible Accounts

    total $1,484

  • 24e · All other expenses

    total $2,318,096

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,544,737 · end of year $2,001,278

  • 2 · Savings and temporary cash investments

    beginning of year $443 · end of year $1,119

  • 4 · Accounts receivable

    beginning of year $1,725,432 · end of year $1,672,800

  • 8 · Inventories for sale or use

    beginning of year $693,977 · end of year $1,783,362

  • 9 · Prepaid expenses and deferred charges

    beginning of year $155,909 · end of year $129,961

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

    $62,510,312

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

    $33,288,342

  • 10c · Land, buildings and equipment, net

    beginning of year $28,961,440 · end of year $29,221,970

  • 15 · Other assets

    beginning of year $6,553,271 · end of year $6,790,726

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,007,722 · end of year $740,930

  • 23 · Secured mortgages and notes payable

    beginning of year $23,779,232 · end of year $24,709,775

  • 25 · Other liabilities

    beginning of year $2,006,670 · end of year $1,984,876

  • 29 · Capital stock, trust principal or current funds

    beginning of year $42,265 · end of year $42,515

  • 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 $13,799,320 · end of year $14,123,120

Mission and programs · 2023

Mission

Committed to provide safe, reliable, and affordable electricity to rural areas through superior customer service.

Activities or mission (Part I)

Electric Energy Distribution

  • To provide electrical energy to its members

    Expenses $14,799,335 · Revenue $15,276,420

As filed on the 2023 return.

Listed in Part VII

  • Christopher Kopel

    CEO

    Total calculated
    $290,781
    From this org
    $213,737
    From related orgs
    $0
    Other
    $77,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,737
    Bonus
    $0
    Other
    $77,074
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $290,811

  • Robert Lahti

    Operations Manager

    Total calculated
    $189,038
    From this org
    $127,971
    From related orgs
    $0
    Other
    $61,067
    Hours/week
    40

  • Sara Anderson

    CFC

    Total calculated
    $186,866
    From this org
    $125,757
    From related orgs
    $0
    Other
    $61,109
    Hours/week
    40

  • Jacob Hipsher

    Member Service Director

    Total calculated
    $173,313
    From this org
    $116,770
    From related orgs
    $0
    Other
    $56,543
    Hours/week
    40

  • Amanda Kavajecz

    Biling Specialist

    Total calculated
    $169,559
    From this org
    $126,015
    From related orgs
    $0
    Other
    $43,544
    Hours/week
    59.5

  • Dustin McKay

    Lineman

    Total calculated
    $163,473
    From this org
    $121,134
    From related orgs
    $0
    Other
    $42,339
    Hours/week
    48.2

  • Keith Klobucher

    Lineman

    Total calculated
    $161,956
    From this org
    $119,571
    From related orgs
    $0
    Other
    $42,385
    Hours/week
    46.5

  • Matthew Tarasewicz

    Lineman

    Total calculated
    $158,679
    From this org
    $128,934
    From related orgs
    $0
    Other
    $29,745
    Hours/week
    48.85

  • Keith Kavajecz

    Lineman

    Total calculated
    $157,275
    From this org
    $114,917
    From related orgs
    $0
    Other
    $42,358
    Hours/week
    46

  • Adam Waddle

    Lineman

    Total calculated
    $157,259
    From this org
    $114,913
    From related orgs
    $0
    Other
    $42,346
    Hours/week
    46.45

  • Kenneth Koosman

    Lineman

    Total calculated
    $154,965
    From this org
    $112,663
    From related orgs
    $0
    Other
    $42,302
    Hours/week
    47

  • Troy Seeger

    Line Foreman

    Total calculated
    $153,445
    From this org
    $129,419
    From related orgs
    $0
    Other
    $24,026
    Hours/week
    46.7

  • Elliot Powers

    Lineman

    Total calculated
    $151,254
    From this org
    $110,356
    From related orgs
    $0
    Other
    $40,898
    Hours/week
    45.6

  • Blake Reijo

    Lineman

    Total calculated
    $150,338
    From this org
    $118,327
    From related orgs
    $0
    Other
    $32,011
    Hours/week
    46.7

  • Barry Radloff

    Director

    Total calculated
    $32,480
    From this org
    $8,450
    From related orgs
    $0
    Other
    $24,030
    Hours/week
    4.6 + 4 related

  • Mark Santikko

    President

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.56

  • Curtis Berweger

    Secretary/Treasurer

    Total calculated
    $10,200
    From this org
    $10,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • James Kinzie

    Director

    Total calculated
    $9,950
    From this org
    $9,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.65

  • Michael Neslon

    Director

    Total calculated
    $9,700
    From this org
    $9,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.46

  • Roy Settgas

    Director

    Total calculated
    $8,950
    From this org
    $8,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.73

  • Carl Schutte

    Director

    Total calculated
    $8,700
    From this org
    $8,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.94

  • Russell Bailey

    Vice President

    Total calculated
    $7,700
    From this org
    $7,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.63

  • Robert Kretzschmar

    Director

    Total calculated
    $7,700
    From this org
    $7,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.21

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 · 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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
The board of directors determine the wages of the CEO with the guidance of a labor attorney.

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
2023
Filed
9 May 2024
IRS schema version
2023v5.0
Source object
202411309349304381

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