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Nonprofiteer
← PRICE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by PRICE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$14,850,390
Total expenses
$14,850,390
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,432,704
Investment income
$79,256
Other revenue
$338,430
Total assets, end of year
$53,415,812
Total liabilities, end of year
$32,003,154
Net assets or fund balances, end of year
$21,412,658
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 $13,780,509 · related or exempt $13,780,509

  • 2b · Program service revenue: OTHER REVENUE

    total $281,804 · related or exempt $281,804

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

    total $210,404 · related or exempt $210,404

  • 2d · Program service revenue: OTHER CAPITAL CREDITS

    total $154,273 · related or exempt $154,273

  • 2e · Program service revenue: POLE RENTAL

    total $5,714 · excluded $5,714

  • 3 · Investment income

    total $14,413 · excluded $14,413

  • 7a · Gross sales of assets other than inventory

    other assets $84,500

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

    other assets $19,657

  • 7c · Gain or loss

    other assets $64,843

  • 7d · Net gain or loss

    total $64,843 · related or exempt $64,843

  • 10a · Gross sales of inventory

    $338,476

  • 10b · Cost of goods sold

    $46

  • 10c · Net income from sales of inventory

    total $338,430 · unrelated business $338,430

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $508,744

  • 5 · Compensation of officers, directors and key employees

    total $315,687

  • 20 · Interest

    total $1,107,725

  • 22 · Depreciation, depletion and amortization

    total $1,778,645

  • 24a · Other expenses: COST OF POWER

    total $5,630,989

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $2,078,417

  • 24c · Other expenses: ADMINISTRATIVE AND GENERA

    total $1,572,855

  • 24d · Other expenses: DISTRIBUTION - OPERATIONS

    total $866,062

  • 24e · All other expenses

    total $991,266

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $244,463 · end of year $99,223

  • 4 · Accounts receivable

    beginning of year $1,362,769 · end of year $1,582,614

  • 8 · Inventories for sale or use

    beginning of year $661,909 · end of year $1,985,721

  • 9 · Prepaid expenses and deferred charges

    beginning of year $181,596 · end of year $192,673

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

    $64,448,180

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

    $21,110,150

  • 10c · Land, buildings and equipment, net

    beginning of year $43,191,447 · end of year $43,338,030

  • 13 · Investments: program-related

    beginning of year $5,918,379 · end of year $6,042,332

  • 14 · Intangible assets

    beginning of year $151,035 · end of year $151,035

  • 15 · Other assets

    beginning of year $60,527 · end of year $24,184

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,949,370 · end of year $1,962,706

  • 23 · Secured mortgages and notes payable

    beginning of year $27,940,226 · end of year $29,419,385

  • 25 · Other liabilities

    beginning of year $424,523 · end of year $621,063

  • 31 · Retained earnings, endowment or other funds

    beginning of year $21,458,006 · end of year $21,412,658

Mission and programs · 2022

Mission

DISTRIBUTE ELECTRIC SERVICE TO RURAL MEMBERS/CONSUMERS

  • PRIMARY EXEMPT PURPOSE IS THE DISTRIBUTION OF ELECTRIC SERVICE TO 8,776 RURAL MEMBERS/CONSUMERS.

As filed on the 2022 return.

Listed in Part VII

  • Isaac D Weik

    LINEMAN

    Total calculated
    $149,367
    From this org
    $139,092
    From related orgs
    $0
    Other
    $10,275
    Hours/week
    40

  • Jesse Heinz

    LINEMAN

    Total calculated
    $186,366
    From this org
    $151,415
    From related orgs
    $0
    Other
    $34,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,415
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,704
    Nontaxable benefits
    $20,480
    Filer's total
    $186,366

  • Christopher Burnis

    LINEMAN

    Total calculated
    $167,880
    From this org
    $133,416
    From related orgs
    $0
    Other
    $34,464
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,416
    Bonus
    not reported
    Other
    not reported
    Deferred
    $16,217
    Nontaxable benefits
    $20,480
    Filer's total
    $167,880

  • Loren Erickson

    MGR OF FIN A

    Total calculated
    $154,239
    From this org
    $98,625
    From related orgs
    $0
    Other
    $55,614
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $98,625
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,151
    Nontaxable benefits
    $21,801
    Filer's total
    $154,239

  • David Pisca

    FOREMAN

    Total calculated
    $175,645
    From this org
    $131,607
    From related orgs
    $0
    Other
    $44,038
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,607
    Bonus
    not reported
    Other
    not reported
    Deferred
    $25,791
    Nontaxable benefits
    $20,499
    Filer's total
    $175,645

  • Jacob Kraetke

    LINEMAN

    Total calculated
    $172,311
    From this org
    $142,526
    From related orgs
    $0
    Other
    $29,785
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,526
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,538
    Nontaxable benefits
    $20,480
    Filer's total
    $172,311

  • Jeffery Olson

    PRESIDENT/CE

    Total calculated
    $316,663
    From this org
    $165,770
    From related orgs
    $0
    Other
    $150,893
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,770
    Bonus
    not reported
    Other
    not reported
    Deferred
    $131,430
    Nontaxable benefits
    $22,455
    Filer's total
    $316,663

  • Randy Kunsch

    CHAIRMAN

    Total calculated
    $7,883
    From this org
    $7,883
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Joan Points

    SEC/TREAS

    Total calculated
    $8,271
    From this org
    $8,271
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Robert Hennes

    DIRECTOR

    Total calculated
    $4,513
    From this org
    $4,513
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William S Haggard

    DIRECTOR

    Total calculated
    $3,761
    From this org
    $3,761
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Matt Christianson

    DIRECTOR

    Total calculated
    $3,736
    From this org
    $3,736
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Karen Newbury

    DIRECTOR

    Total calculated
    $5,898
    From this org
    $5,898
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Edward Hainy

    VICE CHAIRMA

    Total calculated
    $4,104
    From this org
    $4,104
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.25

  • Mark Nyberg

    DIRECTOR

    Total calculated
    $4,807
    From this org
    $4,807
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Mitchell Meives

    DIRECTOR

    Total calculated
    $8,319
    From this org
    $8,319
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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.

  • PRICE SOLAR LLC

    C CORP · PART VII · WI · 100% owned · share of income -$42,586 · share of assets $120,692 · controlled entity

    Directly controlled by PRICE ELEC

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2023
IRS schema version
2022v5.0
Source object
202321309349302122

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