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Nonprofiteer
← PRICE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by PRICE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$15,143,180
Total expenses
$15,143,180
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,730,728
Investment income
$52,561
Other revenue
$359,891
Total assets, end of year
$54,502,512
Total liabilities, end of year
$32,458,047
Net assets or fund balances, end of year
$22,044,465
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 $14,042,447 · related or exempt $14,042,447

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

    total $263,728 · related or exempt $263,728

  • 2c · Program service revenue: OTHER REVENUE

    total $243,278 · related or exempt $243,278

  • 2d · Program service revenue: OTHER CAPITAL CREDITS

    total $175,519 · related or exempt $175,519

  • 2e · Program service revenue: POLE RENTAL

    total $5,756 · excluded $5,756

  • 3 · Investment income

    total $14,377 · excluded $14,377

  • 7a · Gross sales of assets other than inventory

    other assets $70,851

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

    other assets $32,667

  • 7c · Gain or loss

    other assets $38,184

  • 7d · Net gain or loss

    total $38,184 · related or exempt $38,184

  • 10a · Gross sales of inventory

    $359,891

  • 10c · Net income from sales of inventory

    total $359,891 · unrelated business $359,891

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,000,476

  • 5 · Compensation of officers, directors and key employees

    total $317,775

  • 20 · Interest

    total $1,203,850

  • 22 · Depreciation, depletion and amortization

    total $1,845,436

  • 24a · Other expenses: COST OF POWER

    total $5,430,501

  • 24b · Other expenses: DISTRIBUTION - MAINTENANC

    total $1,826,207

  • 24c · Other expenses: ADMINISTRATIVE AND GENERA

    total $1,575,613

  • 24d · Other expenses: DISTRIBUTION - OPERATIONS

    total $961,255

  • 24e · All other expenses

    total $982,067

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $99,223 · end of year $243,891

  • 4 · Accounts receivable

    beginning of year $1,582,614 · end of year $1,517,990

  • 8 · Inventories for sale or use

    beginning of year $1,985,721 · end of year $2,139,300

  • 9 · Prepaid expenses and deferred charges

    beginning of year $192,673 · end of year $171,489

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

    $66,239,636

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

    $22,263,044

  • 10c · Land, buildings and equipment, net

    beginning of year $43,338,030 · end of year $43,976,592

  • 13 · Investments: program-related

    beginning of year $6,042,332 · end of year $6,288,039

  • 14 · Intangible assets

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

  • 15 · Other assets

    beginning of year $24,184 · end of year $14,176

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,962,706 · end of year $1,981,460

  • 23 · Secured mortgages and notes payable

    beginning of year $29,419,385 · end of year $30,023,405

  • 25 · Other liabilities

    beginning of year $621,063 · end of year $453,182

  • 31 · Retained earnings, endowment or other funds

    beginning of year $21,412,658 · end of year $22,044,465

Mission and programs · 2023

Mission

DISTRIBUTE ELECTRIC SERVICE TO RURAL MEMBERS/CONSUMERS

  • PRIMARY EXEMPT PURPOSE IS THE DISTRIBUTION OF ELECTRIC SERVICE TO 9,577 RURAL MEMBERS/CONSUMERS.

As filed on the 2023 return.

Listed in Part VII

  • Isaac D Weik

    LINEMAN

    Total calculated
    $149,085
    From this org
    $143,130
    From related orgs
    $0
    Other
    $5,955
    Hours/week
    40

  • Jesse Heinz

    LINEMAN

    Total calculated
    $179,096
    From this org
    $141,556
    From related orgs
    $0
    Other
    $37,540
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,556
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,428
    Nontaxable benefits
    $29,112
    Filer's total
    $179,096

  • Casey Williams

    LINEMAN

    Total calculated
    $161,531
    From this org
    $129,239
    From related orgs
    $0
    Other
    $32,292
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,239
    Bonus
    not reported
    Other
    not reported
    Deferred
    $6,430
    Nontaxable benefits
    $25,862
    Filer's total
    $161,531

  • Loren Erickson

    MGR OF FIN A

    Total calculated
    $147,895
    From this org
    $90,641
    From related orgs
    $0
    Other
    $57,254
    Hours/week
    45

  • David Pisca

    LINE FOREMAN

    Total calculated
    $164,522
    From this org
    $123,278
    From related orgs
    $0
    Other
    $41,244
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $123,278
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,382
    Nontaxable benefits
    $25,862
    Filer's total
    $164,522

  • Jacob Kraetke

    LINEMAN

    Total calculated
    $181,175
    From this org
    $146,237
    From related orgs
    $0
    Other
    $34,938
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,237
    Bonus
    not reported
    Other
    not reported
    Deferred
    $5,846
    Nontaxable benefits
    $29,092
    Filer's total
    $181,175

  • Jeffery Olson

    PRESIDENT/CE

    Total calculated
    $309,066
    From this org
    $177,048
    From related orgs
    $0
    Other
    $132,018
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $177,048
    Bonus
    not reported
    Other
    not reported
    Deferred
    $104,756
    Nontaxable benefits
    $27,262
    Filer's total
    $309,066

  • Randy Kunsch

    CHAIRMAN

    Total calculated
    $7,975
    From this org
    $7,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Joan Points

    SEC/TREAS

    Total calculated
    $7,328
    From this org
    $7,328
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Robert Hennes

    DIRECTOR

    Total calculated
    $3,666
    From this org
    $3,666
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • William S Haggard

    DIRECTOR

    Total calculated
    $5,261
    From this org
    $5,261
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Matt Christianson

    DIRECTOR

    Total calculated
    $3,986
    From this org
    $3,986
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Karen Newbury

    DIRECTOR

    Total calculated
    $5,828
    From this org
    $5,828
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Edward Hainy

    VICE CHAIRMA

    Total calculated
    $3,575
    From this org
    $3,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.25

  • Mark Nyberg

    DIRECTOR

    Total calculated
    $4,160
    From this org
    $4,160
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Mitchell Meives

    DIRECTOR

    Total calculated
    $8,307
    From this org
    $8,307
    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.

  • PEC ENERGY SOLUTIONS LLC

    C CORP · PART VII · WI · 100% owned · share of income -$45,298 · share of assets $75,394 · controlled entity

    Directly controlled by PRICE ELEC

Provenance

Return type
form_990
Tax year
2023
Filed
10 May 2024
IRS schema version
2023v5.0
Source object
202431369349309243

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