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Nonprofiteer
← CHIPPEWA VALLEY ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by CHIPPEWA VALLEY ELECTRIC COOPERATIVE.

Totals

Total revenue
$17,168,399
Total expenses
$16,962,564
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$16,498,102
Investment income
$185,587
Other revenue
$484,710
Total assets, end of year
$49,531,836
Total liabilities, end of year
$25,417,714
Net assets or fund balances, end of year
$24,114,122
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 REVENUE

    total $15,953,936 · related or exempt $15,953,936

  • 2b · Program service revenue: CAPITAL CREDITS AND OTHER

    total $544,166 · excluded $544,166

  • 3 · Investment income

    total $183,217 · unrelated business $157,500 · excluded $25,717

  • 7a · Gross sales of assets other than inventory

    other assets $2,370

  • 7c · Gain or loss

    other assets $2,370

  • 7d · Net gain or loss

    total $2,370 · related or exempt $2,370

  • 10a · Gross sales of inventory

    $98,047

  • 10b · Cost of goods sold

    $117,820

  • 10c · Net income from sales of inventory

    total -$19,773 · unrelated business -$19,773

  • 11a · Other revenue: MUNICIPALITY MAINTENANCE REVE

    total $334,510 · unrelated business $334,510

  • 11b · Other revenue: MISC NON-OPERATING

    total $128,935 · related or exempt $128,935

  • 11c · Other revenue: MAIN STREET MSGR

    total $32,172 · unrelated business $32,172

  • 11d · All other revenue

    total $8,866 · unrelated business $8,866

  • 11e · Other revenue, total

    $504,483

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,171,876

  • 5 · Compensation of officers, directors and key employees

    total $407,727

  • 20 · Interest

    total $721,948

  • 22 · Depreciation, depletion and amortization

    total $1,769,288

  • 24a · Other expenses: PURCHASED POWER

    total $8,882,959

  • 24b · Other expenses: DISTRIBUTION - OPERATIONS

    total $980,831

  • 24c · Other expenses: DISTRIBUTION - MAINTENANC

    total $785,450

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $728,412

  • 24e · All other expenses

    total $1,514,073

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $300,614 · end of year $992,746

  • 2 · Savings and temporary cash investments

    beginning of year $1,433 · end of year $75,521

  • 4 · Accounts receivable

    beginning of year $1,597,236 · end of year $1,412,664

  • 7 · Other notes and loans receivable

    beginning of year $4,500,000 · end of year $4,500,000

  • 8 · Inventories for sale or use

    beginning of year $491,996 · end of year $552,320

  • 9 · Prepaid expenses and deferred charges

    beginning of year $91,162 · end of year $93,018

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

    $52,802,971

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

    $18,485,111

  • 10c · Land, buildings and equipment, net

    beginning of year $33,809,122 · end of year $34,317,860

  • 12 · Investments: other securities

    beginning of year $7,009 · end of year $7,009

  • 13 · Investments: program-related

    beginning of year $7,181,731 · end of year $7,521,275

  • 15 · Other assets

    beginning of year $67,009 · end of year $59,423

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,570,478 · end of year $1,587,688

  • 23 · Secured mortgages and notes payable

    beginning of year $21,553,889 · end of year $23,465,274

  • 25 · Other liabilities

    beginning of year $528,475 · end of year $364,752

  • 31 · Retained earnings, endowment or other funds

    beginning of year $23,394,470 · end of year $24,114,122

Mission and programs · 2023

Mission

SUPPLYING ELECTRICITY TO ITS MEMBERS.

  • SUPPLYING ELECTRICITY TO ITS MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Russ Falkenberg

    PRES/CEO (JU

    Total calculated
    $187,308
    From this org
    $135,544
    From related orgs
    $300
    Other
    $51,464
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,544 + $300 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    $34,654
    Nontaxable benefits
    $16,810
    Filer's total
    $187,008 + $300 related

  • Kevin Scheidler

    LINE SUPERIN

    Total calculated
    $175,440
    From this org
    $113,418
    From related orgs
    $0
    Other
    $62,022
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,418
    Bonus
    not reported
    Other
    not reported
    Deferred
    $34,057
    Nontaxable benefits
    $27,965
    Filer's total
    $175,440

  • Nicolas Alberson

    OPERATIONS M

    Total calculated
    $167,846
    From this org
    $130,647
    From related orgs
    $0
    Other
    $37,199
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,647
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,373
    Nontaxable benefits
    $22,826
    Filer's total
    $167,846

  • Daniel Ferris

    LINEMAN

    Total calculated
    $161,565
    From this org
    $115,369
    From related orgs
    $0
    Other
    $46,196
    Hours/week
    45.13

    Schedule J breakdown matched by us

    Base
    $115,369
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,039
    Nontaxable benefits
    $10,157
    Filer's total
    $161,565

  • Edward Rosseter

    LINEMAN

    Total calculated
    $130,766
    From this org
    $118,849
    From related orgs
    $0
    Other
    $11,917
    Hours/week
    45.9

  • Christopher Larson

    LINEMAN

    Total calculated
    $128,149
    From this org
    $111,102
    From related orgs
    $0
    Other
    $17,047
    Hours/week
    44.35

  • Dean Ortmann

    PRES/CEO (JA

    Total calculated
    $115,845
    From this org
    $102,072
    From related orgs
    $1,900
    Other
    $11,873
    Hours/week
    48.52

  • Dany Liske

    DIRECTOR

    Total calculated
    $17,325
    From this org
    $17,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.75

  • Kevin Meistad

    VICE-CHAIRMA

    Total calculated
    $15,925
    From this org
    $15,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.22

  • John Petska

    CHAIRMAN OF

    Total calculated
    $14,701
    From this org
    $14,701
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.18

  • Francis Draxler

    DIRECTOR

    Total calculated
    $12,200
    From this org
    $12,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.61

  • Steve Johnson

    DIRECTOR

    Total calculated
    $10,625
    From this org
    $10,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.27

  • Joe Melville

    DIRECTOR

    Total calculated
    $7,100
    From this org
    $7,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.09

  • Steven Wall

    DIRECTOR

    Total calculated
    $6,725
    From this org
    $6,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.74

  • Deone Goettl

    ASST. SEC/TR

    Total calculated
    $6,376
    From this org
    $6,376
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.63

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.

Related corporations and trusts

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

  • CHIPPEWA VALLEY SATELLITE CORP

    C CORP · PART VII · WI · 100% owned · share of income -$580,144 · share of assets $9,760,132 · controlled entity

    Directly controlled by PART VII

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.0
Source object
202413199349310081

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