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Nonprofiteer
← FERGUS ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by FERGUS ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$30,368,742
Total expenses
$30,368,742
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$27,961,407
Investment income
$213,135
Other revenue
$2,194,200
Total assets, end of year
$69,397,260
Total liabilities, end of year
$24,002,021
Net assets or fund balances, end of year
$45,395,239
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 UTILITY SERVICES TO MEMBE

    total $27,961,407 · related or exempt $27,961,407

  • 3 · Investment income

    total $73,385 · excluded $73,385

  • 7a · Gross sales of assets other than inventory

    securities $139,750

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

    securities $0

  • 7c · Gain or loss

    securities $139,750

  • 7d · Net gain or loss

    total $139,750 · related or exempt $139,750

  • 11a · Other revenue: CAPITAL CREDITS

    total $1,741,650 · related or exempt $1,741,650

  • 11b · Other revenue: OTHER NON-OPERATING INCOME

    total $452,550 · related or exempt $452,550

  • 11e · Other revenue, total

    $2,194,200

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,271,852

  • 5 · Compensation of officers, directors and key employees

    total $512,126

  • 7 · Other salaries and wages

    total $212,851

  • 8 · Pension plan contributions

    total $66,424

  • 9 · Other employee benefits

    total $6,362

  • 11b · Fees: legal

    total $40,739

  • 11c · Fees: accounting

    total $21,995

  • 11g · Fees: other

    total $4,193

  • 12 · Advertising and promotion

    total $6,182

  • 13 · Office expenses

    total $27,958

  • 20 · Interest

    total $904,081

  • 22 · Depreciation, depletion and amortization

    total $2,270,414

  • 24a · Other expenses: COST OF POWER

    total $17,622,236

  • 24b · Other expenses: DISTRIBUTION - OPERATIO

    total $2,380,474

  • 24c · Other expenses: DISTRIBUTION - MAINTENA

    total $1,405,827

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $513,822

  • 24e · All other expenses

    total $1,101,206

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $82,918 · end of year $365,703

  • 2 · Savings and temporary cash investments

    beginning of year $1,006,239 · end of year $1,105,824

  • 4 · Accounts receivable

    beginning of year $2,797,145 · end of year $2,566,716

  • 9 · Prepaid expenses and deferred charges

    beginning of year $769 · end of year $1,040

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

    $86,821,506

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

    $33,980,120

  • 10c · Land, buildings and equipment, net

    beginning of year $40,387,894 · end of year $52,841,386

  • 12 · Investments: other securities

    beginning of year $8,208,069 · end of year $9,918,320

  • 15 · Other assets

    beginning of year $10,725,843 · end of year $2,598,271

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,803,744 · end of year $2,794,733

  • 19 · Deferred revenue

    beginning of year $1,610,294 · end of year $106,618

  • 23 · Secured mortgages and notes payable

    beginning of year $15,437,680 · end of year $19,969,127

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,131,543

  • 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 $43,357,146 · end of year $45,395,239

  • 31 · Retained earnings, endowment or other funds

    beginning of year $13 · end of year $0

Mission and programs · 2024

Mission

THE MISSION OF FERGUS ELECTRIC COOPERATIVE IS TO PROVIDE RELIABLE, SAFE, AND AFFORDABLE ENERGY SERVICES TO THE COMMUNITIES WE SERVE. WHO WE ARE: WE ARE A NON-PROFIT COOPERATIVE UTILITY OWNED, OPERATED AND SUPPORTED BY MEMBERS IN CENTRAL MONTANA.WHAT WE DO: WE DISTRIBUTE ELECTRICITY AND ANCILLARY SERVICES TO 14 CENTRAL MONTANA COUNTIES: BLAINE, CASCADE, CHOTEAU, FERGUS, GOLDEN VALLEY, JUDITH BASIN, MEAGHER, MUSSELSHELL, PETROLEUM, STILLWATER, SWEET GRASS, TREASURE, WHEATLAND, AND YELLOWSTONE.WHAT WE VALUE: WE VALUE INTEGRITY, RELIABILITY, QUALITY, AFFORDABILITY, AND EMPLOYEES IN SERVING OUR COMMUNITY AND MEMBER-OWNERS.WHAT WE ASPIRE TO BECOME: WE ARE WORKING TO BECOME THE TRUSTED PROVIDER FOR ALL ENERGY AND ENERGY RELATED SERVICES THAT OUR MEMBERS REQUIRE.

  • THE MISSION OF FERGUS ELECTRIC COOPERATIVE IS TO PROVIDE RELIABLE, SAFE, AND AFFORDABLE ENERGY SERVICES TO THE COMMUNITIES WE SERVE. WHO WE ARE: WE ARE A NON-PROFIT COOPERATIVE UTILITY OWNED, OPERATED AND SUPPORTED BY MEMBERS IN CENTRAL MONTANA.WHAT WE DO: WE DISTRIBUTE ELECTRICITY AND ANCILLARY SERVICES TO 14 CENTRAL MONTANA COUNTIES: BLAINE, CASCADE, CHOTEAU, FERGUS, GOLDEN VALLEY, JUDITH BASIN, MEAGHER, MUSSELSHELL, PETROLEUM, STILLWATER, SWEET GRASS, TREASURE, WHEATLAND, AND YELLOWSTONE.WHAT WE VALUE: WE VALUE INTEGRITY, RELIABILITY, QUALITY, AFFORDABILITY, AND EMPLOYEES IN SERVING OUR COMMUNITY AND MEMBER-OWNERS.WHAT WE ASPIRE TO BECOME: WE ARE WORKING TO BECOME THE TRUSTED PROVIDER FOR ALL ENERGY AND ENERGY RELATED SERVICES THAT OUR MEMBERS REQUIRE.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Paul Descheemaeker

    PRESIDENT

    Total calculated
    $35,125
    From this org
    $35,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.43

  • Terry Frost

    VICE PRESIDENT

    Total calculated
    $32,500
    From this org
    $32,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.82

  • Jason Swanz

    SECRETARY/TREASURER

    Total calculated
    $43,759
    From this org
    $43,759
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.08

  • Brad Arntzen

    ASSISTANT SEC/TREAS

    Total calculated
    $41,144
    From this org
    $41,144
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.02

  • Cathy Kombol

    BOARD MEMBER

    Total calculated
    $32,250
    From this org
    $32,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.42

  • Bob Evans

    BOARD MEMBER

    Total calculated
    $17,635
    From this org
    $17,635
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.69

  • Brett Maxwell

    BOARD MEMBER

    Total calculated
    $18,260
    From this org
    $18,260
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.08

  • Carson Sweeney

    GENERAL MANAGER

    Total calculated
    $291,453
    From this org
    $199,610
    From related orgs
    $0
    Other
    $91,843
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $199,610
    Bonus
    $0
    Other
    $0
    Deferred
    $48,462
    Nontaxable benefits
    $43,381
    Filer's total
    $291,453

  • Brian Godbey

    SERVICEMAN/METER TECH

    Total calculated
    $217,727
    From this org
    $137,308
    From related orgs
    $0
    Other
    $80,419
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,308
    Bonus
    $0
    Other
    $0
    Deferred
    $36,476
    Nontaxable benefits
    $43,943
    Filer's total
    $217,727

  • Sally Horacek

    OFFICE MANAGER

    Total calculated
    $237,863
    From this org
    $157,436
    From related orgs
    $0
    Other
    $80,427
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,436
    Bonus
    $0
    Other
    $0
    Deferred
    $47,500
    Nontaxable benefits
    $32,927
    Filer's total
    $237,863

  • Bret Ophus

    LINE SUPERINTENDENT

    Total calculated
    $211,662
    From this org
    $135,284
    From related orgs
    $0
    Other
    $76,378
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,284
    Bonus
    $0
    Other
    $0
    Deferred
    $43,755
    Nontaxable benefits
    $32,623
    Filer's total
    $211,662

  • Dale Rikala

    LINE SUPERINTENDENT

    Total calculated
    $234,924
    From this org
    $154,740
    From related orgs
    $0
    Other
    $80,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,740
    Bonus
    $0
    Other
    $0
    Deferred
    $50,048
    Nontaxable benefits
    $30,136
    Filer's total
    $234,924

  • Mark Schwomeyer

    FOREMAN

    Total calculated
    $190,333
    From this org
    $135,214
    From related orgs
    $0
    Other
    $55,119
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,214
    Bonus
    $0
    Other
    $0
    Deferred
    $25,840
    Nontaxable benefits
    $29,279
    Filer's total
    $190,333

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

None.

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
2024
Filed
13 October 2025
IRS schema version
2024v5.2
Source object
202502909349301510

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