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Nonprofiteer
← PLATTE-CLAY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by PLATTE-CLAY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$76,880,883
Total expenses
$72,595,239
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$74,234,760
Investment income
$39,637
Other revenue
$2,606,486
Total assets, end of year
$192,685,266
Total liabilities, end of year
$85,138,123
Net assets or fund balances, end of year
$107,547,143
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: SALE OF ELECTRICITY

    total $64,820,215 · related or exempt $64,820,215

  • 2b · Program service revenue: OTHER SERVICES

    total $9,414,545 · unrelated business $9,414,545

  • 3 · Investment income

    total $39,637 · excluded $39,637

  • 11a · Other revenue: CAPITAL CREDITS

    total $2,445,490 · related or exempt $2,445,490

  • 11b · Other revenue: OTHER INCOME

    total $151,808 · related or exempt $151,808

  • 11c · Other revenue: GAIN ON AFFILIATES

    total $9,188 · related or exempt $9,188

  • 11e · Other revenue, total

    $2,606,486

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,324,635

  • 5 · Compensation of officers, directors and key employees

    total $1,645,002

  • 20 · Interest

    total $2,999,870

  • 22 · Depreciation, depletion and amortization

    total $4,649,900

  • 24a · Other expenses: TAXES

    total $4,305

  • 24b · Other expenses: COST OF SALES

    total $44,531,011

  • 24c · Other expenses: DISTRIBUTION - MAINTENA

    total $5,630,585

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $3,775,551

  • 24e · All other expenses

    total $6,034,380

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,214,103 · end of year $3,655,695

  • 4 · Accounts receivable

    beginning of year $3,510,690 · end of year $3,175,975

  • 7 · Other notes and loans receivable

    beginning of year $137,897

  • 8 · Inventories for sale or use

    beginning of year $283,067 · end of year $232,229

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

    $172,057,554

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

    $35,664,748

  • 10c · Land, buildings and equipment, net

    beginning of year $132,184,124 · end of year $136,392,806

  • 12 · Investments: other securities

    beginning of year $44,682,365 · end of year $45,172,998

  • 15 · Other assets

    beginning of year $3,576,771 · end of year $4,055,563

  • 17 · Accounts payable and accrued expenses

    beginning of year $167,237 · end of year $169,596

  • 23 · Secured mortgages and notes payable

    beginning of year $70,993,668 · end of year $72,645,929

  • 25 · Other liabilities

    beginning of year $15,429,822 · end of year $12,322,598

  • 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 $102,998,290 · end of year $107,547,143

Mission and programs · 2022

Mission

DELIVER ELECTRICITY TO RURAL AREAS

Activities or mission (Part I)

PROVIDE THE DISTRIBUTION OF ELECTRIC SERVICE TO RURAL CUSTOMERS

  • PROVIDE ELECTRICAL SERVICE TO RURAL CUSTOMERS - TOTAL CONNECTIONS APPROXIMATELY 25,800

As filed on the 2022 return.

Listed in Part VII

  • Kelly Parkhurst

    BOARD MEMBER - VICE-PRESID

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Edward Barger

    BOARD MEMBER

    Total calculated
    $5,600
    From this org
    $5,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Kendall Davis

    BOARD MEMBER - PRESID

    Total calculated
    $23,800
    From this org
    $23,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Dennis Fulk

    BOARD MEMBER

    Total calculated
    $9,700
    From this org
    $9,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Mark Baker

    BOARD MEMBER

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Larry Leachman

    BOARD MEMBER

    Total calculated
    $9,000
    From this org
    $9,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Theresa Wren

    BOARD MEMBER- TREASURER

    Total calculated
    $13,400
    From this org
    $13,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Kim Goepferich

    BOARD MEMBER

    Total calculated
    $11,500
    From this org
    $11,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.5

  • David Edwards

    BOARD MEMBER

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Ken Brown

    CHIEF FINANCE OFFICER

    Total calculated
    $332,695
    From this org
    $207,453
    From related orgs
    $0
    Other
    $125,242
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $207,453
    Bonus
    $0
    Other
    $0
    Deferred
    $107,742
    Nontaxable benefits
    $17,500
    Filer's total
    $332,695

  • David Deihl

    GENERAL MANAGER

    Total calculated
    $560,309
    From this org
    $301,259
    From related orgs
    $0
    Other
    $259,050
    Hours/week
    55 + 3 related

    Schedule J breakdown matched by us

    Base
    $301,259
    Bonus
    $0
    Other
    $0
    Deferred
    $231,913
    Nontaxable benefits
    $27,137
    Filer's total
    $560,309

  • Jared Wolters

    MANAGER OF ENGINEERING

    Total calculated
    $407,321
    From this org
    $217,710
    From related orgs
    $0
    Other
    $189,611
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $217,710
    Bonus
    $0
    Other
    $0
    Deferred
    $154,394
    Nontaxable benefits
    $35,217
    Filer's total
    $407,321

  • Tim Hill

    MANAGER OF OPERATIONS

    Total calculated
    $382,212
    From this org
    $355,158
    From related orgs
    $0
    Other
    $27,054
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $355,158
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $27,054
    Filer's total
    $382,212

  • Ed Williams

    MANAGER, INFORMATION TECHN

    Total calculated
    $228,383
    From this org
    $165,182
    From related orgs
    $0
    Other
    $63,201
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,182
    Bonus
    $0
    Other
    $0
    Deferred
    $46,326
    Nontaxable benefits
    $16,875
    Filer's total
    $228,383

  • Jennifer Grossl

    MANAGER, MARKETING AND COM

    Total calculated
    $207,071
    From this org
    $158,953
    From related orgs
    $0
    Other
    $48,118
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,953
    Bonus
    $0
    Other
    $0
    Deferred
    $32,015
    Nontaxable benefits
    $16,103
    Filer's total
    $207,071

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

  • PLATTE-CLAY FUELS LLC

    SALE OF GASOLINE · MO

    Directly controlled by PLATTE-CLAY ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202323179349306537

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