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Nonprofiteer
← WARREN ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by WARREN ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$11,324,341
Total expenses
$10,634,695
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$10,090,684
Investment income
$47,723
Other revenue
$1,185,934
Total assets, end of year
$27,194,633
Total liabilities, end of year
$2,740,491
Net assets or fund balances, end of year
$24,454,142
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: PROVIDE ELECTRICITY TO ITS MEMBER

    total $10,090,684 · related or exempt $10,090,684

  • 3 · Investment income

    total $47,723 · excluded $47,723

  • 11a · Other revenue: CAP CR. - ASSOC. ORGS.

    total $447,556 · related or exempt $447,556

  • 11b · Other revenue: CONTRIB. IN AID OF CONSTRUCTION

    total $394,148 · related or exempt $394,148

  • 11c · Other revenue: POLE RENTAL REVENUE

    total $280,613 · related or exempt $280,613

  • 11d · All other revenue

    total $63,617 · related or exempt $63,617

  • 11e · Other revenue, total

    $1,185,934

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $574,386

  • 5 · Compensation of officers, directors and key employees

    total $439,651

  • 20 · Interest

    total $7,746

  • 22 · Depreciation, depletion and amortization

    total $1,001,681

  • 24a · Other expenses: DISTRIBUTION - MAINTENA

    total $3,285,817

  • 24b · Other expenses: COST OF POWER

    total $3,274,952

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $793,115

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $515,852

  • 24e · All other expenses

    total $741,495

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $638,905 · end of year $137,098

  • 2 · Savings and temporary cash investments

    beginning of year $2,970,358 · end of year $2,964,327

  • 4 · Accounts receivable

    beginning of year $1,461,840 · end of year $1,605,460

  • 8 · Inventories for sale or use

    beginning of year $774,883 · end of year $879,738

  • 9 · Prepaid expenses and deferred charges

    beginning of year $155,769 · end of year $55,489

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

    $33,139,960

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

    $14,959,989

  • 10c · Land, buildings and equipment, net

    beginning of year $17,380,728 · end of year $18,179,971

  • 12 · Investments: other securities

    beginning of year $2,664,958 · end of year $3,032,227

  • 15 · Other assets

    beginning of year $333,992 · end of year $340,323

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,246,161 · end of year $2,271,084

  • 23 · Secured mortgages and notes payable

    beginning of year $292,635 · end of year $205,750

  • 25 · Other liabilities

    beginning of year $252,312 · end of year $263,657

  • 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 $11,694,371 · end of year $13,102,199

  • 31 · Retained earnings, endowment or other funds

    beginning of year $11,895,954 · end of year $11,351,943

Mission and programs · 2022

Mission

PROVIDING AFFORDABLE ELECTRICITY TO MEMBERS

Activities or mission (Part I)

COOPERATIVE ELECTRIC ORGANIZATION PROVIDING ELECTRICITY TO MEMBERS

  • PROVIDING ELECTRICITY TO MEMBERS

As filed on the 2022 return.

Listed in Part VII

  • James Marshall

    CHAIRMAN

    Total calculated
    $4,500
    From this org
    $4,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Edgar Burris

    VICE CHAIRMAN

    Total calculated
    $5,050
    From this org
    $5,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Richard Harrington

    DIRECTOR

    Total calculated
    $3,610
    From this org
    $3,610
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jeffrey Sedon

    TREASURER

    Total calculated
    $3,370
    From this org
    $3,370
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dennis Johnson

    DIRECTOR

    Total calculated
    $4,900
    From this org
    $4,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John Hagberg

    DIRECTOR

    Total calculated
    $3,620
    From this org
    $3,620
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Lee Sitterley

    DIRECTOR

    Total calculated
    $3,100
    From this org
    $3,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Vicki Stec

    SECRETARY

    Total calculated
    $4,285
    From this org
    $4,285
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Ken Larson

    DIRECTOR

    Total calculated
    $4,100
    From this org
    $4,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • TODD M McCLAIN

    ADMINISTRATION MANAGER

    Total calculated
    $172,234
    From this org
    $119,911
    From related orgs
    $0
    Other
    $52,323
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $114,997
    Bonus
    $0
    Other
    $4,914
    Deferred
    $30,263
    Nontaxable benefits
    $22,060
    Filer's total
    $172,234

  • Matthew Franklin

    GENERAL MANAGER & CEO

    Total calculated
    $230,881
    From this org
    $177,758
    From related orgs
    $0
    Other
    $53,123
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,038
    Bonus
    $0
    Other
    $4,720
    Deferred
    $43,300
    Nontaxable benefits
    $9,823
    Filer's total
    $230,881

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 · 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.

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202303129349302015

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