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Nonprofiteer
← ILLINOIS ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by ILLINOIS ELECTRIC COOPERATIVE.

Totals

Total revenue
$44,327,895
Total expenses
$42,334,186
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$42,738,948
Investment income
$384,751
Other revenue
$1,204,196
Total assets, end of year
$152,796,039
Total liabilities, end of year
$94,048,435
Net assets or fund balances, end of year
$58,747,604
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 $37,514,121 · related or exempt $37,514,121

  • 2b · Program service revenue: INTERNET REVENUES

    total $4,901,692 · related or exempt $4,901,692

  • 2c · Program service revenue: OTHER ELECTRIC REVENUE

    total $323,135 · related or exempt $323,135

  • 3 · Investment income

    total $204,222 · excluded $204,222

  • 7a · Gross sales of assets other than inventory

    other assets $201,450

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

    other assets $20,921

  • 7c · Gain or loss

    other assets $180,529

  • 7d · Net gain or loss

    total $180,529 · excluded $180,529

  • 11a · Other revenue: CAPITAL CREDITS

    total $1,189,618 · related or exempt $1,189,618

  • 11b · Other revenue: MISCELLANEOUS

    total $14,578 · related or exempt $14,578

  • 11e · Other revenue, total

    $1,204,196

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,358,837

  • 5 · Compensation of officers, directors and key employees

    total $613,086

  • 20 · Interest

    total $3,214,254

  • 22 · Depreciation, depletion and amortization

    total $5,741,758

  • 24a · Other expenses: COST OF POWER

    total $19,687,613

  • 24b · Other expenses: DIST EXP - MAINTENANCE

    total $3,266,617

  • 24c · Other expenses: INTERNET COST OF SALES

    total $2,775,834

  • 24d · Other expenses: ADMIN & GENERAL EXP

    total $1,948,034

  • 24e · All other expenses

    total $2,728,153

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $402,312 · end of year $594,141

  • 2 · Savings and temporary cash investments

    beginning of year $2,101,973 · end of year $2,507,077

  • 4 · Accounts receivable

    beginning of year $1,665,282 · end of year $2,066,467

  • 7 · Other notes and loans receivable

    beginning of year $1,083,463 · end of year $741,903

  • 8 · Inventories for sale or use

    beginning of year $3,028,338 · end of year $3,104,156

  • 9 · Prepaid expenses and deferred charges

    beginning of year $282,492 · end of year $283,876

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

    $156,110,648

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

    $32,761,576

  • 10c · Land, buildings and equipment, net

    beginning of year $116,833,358 · end of year $123,349,072

  • 11 · Investments: publicly traded securities

    beginning of year $2,252,697 · end of year $2,518,292

  • 12 · Investments: other securities

    beginning of year $453,087 · end of year $331,233

  • 13 · Investments: program-related

    beginning of year $13,490,359 · end of year $14,055,294

  • 14 · Intangible assets

    beginning of year $9,169 · end of year $9,169

  • 15 · Other assets

    beginning of year $3,397,727 · end of year $3,235,359

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,069,746 · end of year $3,165,793

  • 23 · Secured mortgages and notes payable

    beginning of year $75,952,830 · end of year $83,366,312

  • 24 · Unsecured notes and loans payable

    beginning of year $7,578,033 · end of year $4,006,899

  • 25 · Other liabilities

    beginning of year $3,559,078 · end of year $3,509,431

  • 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 $54,840,570 · end of year $58,747,604

Mission and programs · 2023

Mission

IN THE COOPERATIVE TRADITION, ILLINOIS ELECTRIC IS DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR OUR MEMBERS THROUGH DEPENDABILITY AND INNOVATION.

Activities or mission (Part I)

DEDICATED TO IMPROVING THE QUALITY OF LIFE FOR MEMBERS THROUGH DEPENDABILITY AND INNOVATION.

  • WE PROVIDED 194,530,000 KILOWATT HOURS OF ELECTRICITY TO APPROXIMATELY 10,200 RURAL ACCOUNTS IN ALL OR PART OF TEN COUNTIES IN THE STATE OF ILLINOIS AND WILL CONTINUE THIS IN THE FUTURE.

  • WE PROVIDED INTERNET SERVICES TO APPROXIMATELY 6,250 CONSUMERS IN ALL OR PART OF TEN COUNTIES IN THE STATE OF ILLINOIS.

  • IN 2015 WE BEGAN OFFERING INTERNET AND PHONE THROUGH OUR NEWLY CONSTRUCTED FIBER INFRASTRUCTURE IN THE TOWNS OF WINCHESTER AND BLUFFS, SERVING 700 CONSUMERS. WE HAVE EXPANDED THIS SERVICE IN TO CALHOUN COUNTY SERVING AN ADDITIONAL 1,000 CONSUMERS. WE EXPECT OUR PHONE AND INTERNET PROGRAM TO CONTINUE GROWING IN THE FUTURE.

As filed on the 2023 return.

Listed in Part VII

  • Thomas D Meehan III

    PRESIDENT

    Total calculated
    $18,700
    From this org
    $18,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.3

  • Julia Eberlin

    VICE-PRESIDENT

    Total calculated
    $9,250
    From this org
    $9,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.6

  • Jim Freeman

    TREASURER

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6

  • Kevin Brannan

    SECRETARY

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.9

  • Luke Fraley

    ASSISTANT TREASURER

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2

  • Julie Rhoads

    ASSISTANT SECRETARY

    Total calculated
    $5,900
    From this org
    $5,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.6

  • Jenna Morrow

    DIRECTOR

    Total calculated
    $9,650
    From this org
    $9,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.7

  • Kristine Bingham

    DIRECTOR

    Total calculated
    $9,650
    From this org
    $9,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    14.8

  • Bryan Hubbert

    DIRECTOR

    Total calculated
    $8,650
    From this org
    $8,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6

  • Pat Stendback

    DIRECTOR

    Total calculated
    $9,450
    From this org
    $9,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.1

  • Kevin Klein

    DIRECTOR

    Total calculated
    $8,900
    From this org
    $8,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.2

  • Seth Bushnell

    MANAGER OF FINANCE

    Total calculated
    $228,704
    From this org
    $178,579
    From related orgs
    $0
    Other
    $50,125
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,033
    Bonus
    $0
    Other
    $24,546
    Deferred
    $50,125
    Nontaxable benefits
    $0
    Filer's total
    $228,704

  • Randy Long

    GENERAL MANAGER

    Total calculated
    $280,532
    From this org
    $255,467
    From related orgs
    $0
    Other
    $25,065
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,646
    Bonus
    $0
    Other
    $18,821
    Deferred
    $25,065
    Nontaxable benefits
    $0
    Filer's total
    $280,532

  • Matthew Haverfield

    NETWORK ANALYST

    Total calculated
    $177,752
    From this org
    $146,336
    From related orgs
    $0
    Other
    $31,416
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,458
    Bonus
    $0
    Other
    $9,878
    Deferred
    $31,416
    Nontaxable benefits
    $0
    Filer's total
    $177,752

  • Craig Long

    METERING SUPERVISOR

    Total calculated
    $136,900
    From this org
    $124,973
    From related orgs
    $0
    Other
    $11,927
    Hours/week
    40

  • Kurtis Weber

    DESIGN ENGINEER

    Total calculated
    $156,386
    From this org
    $131,884
    From related orgs
    $0
    Other
    $24,502
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,006
    Bonus
    $0
    Other
    $9,878
    Deferred
    $24,502
    Nontaxable benefits
    $0
    Filer's total
    $156,386

  • Isaac Richard

    JOURNEYMAN LINEMAN

    Total calculated
    $145,793
    From this org
    $131,883
    From related orgs
    $0
    Other
    $13,910
    Hours/week
    43

  • Cameron Kemper

    INTERNET TECHNICIAN

    Total calculated
    $151,710
    From this org
    $139,165
    From related orgs
    $0
    Other
    $12,545
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $129,506
    Bonus
    $0
    Other
    $9,659
    Deferred
    $12,545
    Nontaxable benefits
    $0
    Filer's total
    $151,710

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 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
RANDY LONG CONTRIBUTED $19,600 TO HIS 457 PLAN DURING 2023. BRUCE GRIFFIN WAS PAID $3,035 OUT OF HIS 457 PLAN DURING 2023.

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.

  • ILLINOIS RURAL TELECOMMUNICATION CO

    C · TELECOMMUNICATIONS · IL · 100% owned · share of income $322,013 · share of assets $2,657,107 · controlled entity

    Directly controlled by ILLINOIS ELECTRIC COOP

  • PRATHER OIL CO

    C · SALE OF PROPANE · IL · 100% owned

    Directly controlled by ILLINOIS RURAL TELECOMMUNICATION CO

  • ILLINOIS PROPANE CO

    C · SALE OF PROPANE · IL · 100% owned

    Directly controlled by ILLINOIS RURAL TELECOMMUNICATION CO

  • MIDSTATE PROPANE LLC

    C · SALE OF PROPANE · IL · 100% owned

    Directly controlled by ILLINOIS RURAL TELECOMMUNICATION CO

Provenance

Return type
form_990
Tax year
2023
Filed
16 October 2024
IRS schema version
2023v5.1
Source object
202422989349301552

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