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Nonprofiteer
← UNION COUNTY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by UNION COUNTY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$4,831,523
Total expenses
$4,831,523
Contributions and grants received
$0
Grants paid
$9,978
Program service revenue
$4,779,616
Investment income
$55,667
Other revenue
-$3,760
Total assets, end of year
$19,290,745
Total liabilities, end of year
$13,352,671
Net assets or fund balances, end of year
$5,938,074
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 POWER

    total $4,562,959 · related or exempt $4,562,959

  • 2b · Program service revenue: CAPITAL CREDITS

    total $216,657 · related or exempt $216,657

  • 3 · Investment income

    total $39,258 · excluded $39,258

  • 7a · Gross sales of assets other than inventory

    other assets $42,500

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

    other assets $26,091

  • 7c · Gain or loss

    other assets $16,409

  • 7d · Net gain or loss

    total $16,409 · excluded $16,409

  • 10a · Gross sales of inventory

    $218,500

  • 10b · Cost of goods sold

    $222,260

  • 10c · Net income from sales of inventory

    total -$3,760 · related or exempt $3,924 · unrelated business -$7,684

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $9,978

  • 4 · Benefits paid to or for members

    total $391,696

  • 5 · Compensation of officers, directors and key employees

    total $226,173

  • 7 · Other salaries and wages

    total $647,128

  • 8 · Pension plan contributions

    total $127,727

  • 10 · Payroll taxes

    total $60,951

  • 20 · Interest

    total $378,473

  • 22 · Depreciation, depletion and amortization

    total $468,116

  • 24a · Other expenses: COST OF POWER

    total $2,119,036

  • 24b · Other expenses: ADMIN & GENERAL

    total $651,993

  • 24c · Other expenses: DISTRIBUTION-OPERATIONS

    total $318,410

  • 24d · Other expenses: DISTRIBUTION-MAINTENANC

    total $141,670

  • 24e · All other expenses

    total -$709,828

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,227,355 · end of year $338,999

  • 4 · Accounts receivable

    beginning of year $496,279 · end of year $520,864

  • 7 · Other notes and loans receivable

    beginning of year $105,594 · end of year $101,621

  • 8 · Inventories for sale or use

    beginning of year $375,386 · end of year $950,035

  • 9 · Prepaid expenses and deferred charges

    beginning of year $88,723 · end of year $74,426

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

    $19,167,013

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

    $4,791,231

  • 10c · Land, buildings and equipment, net

    beginning of year $13,386,702 · end of year $14,375,782

  • 12 · Investments: other securities

    beginning of year $150,000 · end of year $0

  • 13 · Investments: program-related

    beginning of year $2,806,981 · end of year $2,929,018

  • 17 · Accounts payable and accrued expenses

    beginning of year $547,426 · end of year $460,278

  • 23 · Secured mortgages and notes payable

    beginning of year $12,059,795 · end of year $12,613,399

  • 25 · Other liabilities

    beginning of year $261,376 · end of year $278,994

  • 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 $5,768,423 · end of year $5,938,074

Mission and programs · 2023

Mission

UNION COUNTY ELECTRIC COOPERATIVE EXISTS TO PROVIDE HIGH VALUE ENERGY TO OUR MEMBERS BY FOCUSING ON DELIVERING SAFE, RELIABLE, ENVIRONMENTALLY FRIENDLY ELECTRICITY WHILE PROMOTING ENERGY EFFICIENCY THROUGH EDUCATION.

Activities or mission (Part I)

PROVIDING HIGH VALUE ENERGY TO MEMBERS - ELECTRIC DISTRIBUTION UTILITY.

  • PROVIDED ELECTRIC SERVICE TO APPROXIMATELY 1,214 MEMBERS AND INCREASED MILES OF LINE BY 2.32 MILES.

As filed on the 2023 return.

Listed in Part VII

  • William Dailey

    ASSISTANT SECRETARY/VICE PRESIDENT

    Total calculated
    $5,470
    From this org
    $5,470
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Edward Donnelly

    SECRETARY

    Total calculated
    $4,450
    From this org
    $4,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Paul Peacock

    TREASURER

    Total calculated
    $4,213
    From this org
    $4,213
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Donald Gray

    VICE PRESIDENT (UNTIL MARCH 2023)

    Total calculated
    $750
    From this org
    $750
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Donald Schurdevin

    PRESIDENT

    Total calculated
    $3,700
    From this org
    $3,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • John Giorgio

    DIRECTOR (BEG JUNE 2023)

    Total calculated
    $2,200
    From this org
    $2,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Matt Klein

    GENERAL MANAGER

    Total calculated
    $191,918
    From this org
    $146,282
    From related orgs
    $0
    Other
    $45,636
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,837
    Bonus
    $711
    Other
    $734
    Deferred
    $22,130
    Nontaxable benefits
    $25,835
    Filer's total
    $194,247

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

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C
PER THE INSTRUCTIONS, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR PERSONS LISTED IN SCHEDULE J, PART II. ACTUAL EXPENSE OF THE PLAN MAY BE SIGNIFICANTLY DIFFERENT FROM THE CHANGE IN ACTUARIAL VALUE. DETAILS RELEVANT TO THE DEFINED BENEFIT PLAN ARE AS FOLLOWS: MATT KLEIN - ACTUAL EXPENSE $30,003; CHANGE IN ACTUARIAL VALUE $18,860.

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

  • MITCHELL TECHNICAL COLLEGE

    $0

    EDUCATION

Provenance

Return type
form_990
Tax year
2023
Filed
2 October 2024
IRS schema version
2023v5.1
Source object
202412779349300736

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