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Nonprofiteer
← PLATTE-CLAY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by PLATTE-CLAY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$72,240,535
Total expenses
$72,240,535
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$71,876,060
Investment income
$103,012
Other revenue
$261,463
Total assets, end of year
$201,622,620
Total liabilities, end of year
$90,026,274
Net assets or fund balances, end of year
$111,596,346
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: Sale of Electricity

    total $67,601,033 · related or exempt $67,601,033

  • 2b · Program service revenue: Capital Credits

    total $2,474,460 · related or exempt $2,474,460

  • 2c · Program service revenue: Other Operating

    total $1,800,567 · related or exempt $1,800,567

  • 3 · Investment income

    total $50,303 · excluded $50,303

  • 6a · Gross rents

    personal property $266,697

  • 6c · Rental income or loss

    personal property $266,697

  • 6d · Net rental income or loss

    total $266,697 · excluded $266,697

  • 7a · Gross sales of assets other than inventory

    other assets $52,709

  • 7c · Gain or loss

    other assets $52,709

  • 7d · Net gain or loss

    total $52,709 · excluded $52,709

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Earning in Subsidiaries

    total -$5,154 · excluded -$5,154

  • 11b · Other revenue: Non-Operating

    total -$80 · related or exempt -$80

  • 11e · Other revenue, total

    -$5,234

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,191,540

  • 5 · Compensation of officers, directors and key employees

    total $968,619

  • 7 · Other salaries and wages

    total $1,267,859

  • 20 · Interest

    total $3,615,409

  • 22 · Depreciation, depletion and amortization

    total $5,145,659

  • 24a · Other expenses: Cost of Power

    total $40,534,525 · program services $40,534,525

  • 24b · Other expenses: Distribution Expense

    total $6,629,181 · program services $6,629,181

  • 24c · Other expenses: Member Services

    total $2,197,579 · program services $2,197,579

  • 24d · Other expenses: Admin & General

    total $4,114,718 · program services $4,114,718

  • 24e · All other expenses

    total $2,575,446

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,414,793 · end of year $2,231,385

  • 4 · Accounts receivable

    beginning of year $4,877,934 · end of year $2,747,309

  • 8 · Inventories for sale or use

    beginning of year $34,431 · end of year $32,077

  • 9 · Prepaid expenses and deferred charges

    beginning of year $519,730 · end of year $4,659,419

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

    $184,417,483

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

    $38,908,985

  • 10c · Land, buildings and equipment, net

    beginning of year $140,449,772 · end of year $145,508,498

  • 13 · Investments: program-related

    beginning of year $48,725,507 · end of year $46,443,932

  • 15 · Other assets

    beginning of year $3,538,958

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,282,749 · end of year $8,379,357

  • 23 · Secured mortgages and notes payable

    beginning of year $74,230,195 · end of year $76,599,624

  • 24 · Unsecured notes and loans payable

    beginning of year $4,500,000 · end of year $1,000,000

  • 25 · Other liabilities

    beginning of year $11,559,205 · end of year $4,047,293

  • 31 · Retained earnings, endowment or other funds

    beginning of year $111,988,976 · end of year $111,596,346

Mission and programs · 2024

Mission

Provide the distribution of electric service to rural customers.

  • Provide electrical service to rural customers - total connections approximately 25,800.

As filed on the 2024 return.

Listed in Part VII

  • David Deihi

    General Manager

    Total calculated
    $556,635
    From this org
    $319,703
    From related orgs
    $0
    Other
    $236,932
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $319,703
    Bonus
    not reported
    Other
    not reported
    Deferred
    $209,140
    Nontaxable benefits
    $27,792
    Filer's total
    $556,635

  • Jared Wolters

    Manager Engineering

    Total calculated
    $449,073
    From this org
    $262,361
    From related orgs
    $0
    Other
    $186,712
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $262,361
    Bonus
    not reported
    Other
    not reported
    Deferred
    $145,813
    Nontaxable benefits
    $40,899
    Filer's total
    $449,073

  • Kenneth Brown

    Manager Finance and Accounting

    Total calculated
    $329,784
    From this org
    $213,089
    From related orgs
    $0
    Other
    $116,695
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $213,089
    Bonus
    not reported
    Other
    not reported
    Deferred
    $90,353
    Nontaxable benefits
    $26,342
    Filer's total
    $329,784

  • Travis Anderson

    Manager Operations

    Total calculated
    $319,390
    From this org
    $184,787
    From related orgs
    $0
    Other
    $134,603
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $184,787
    Bonus
    not reported
    Other
    not reported
    Deferred
    $116,922
    Nontaxable benefits
    $17,681
    Filer's total
    $319,390

  • Ralph E Williams

    Manager Information Technology

    Total calculated
    $270,433
    From this org
    $170,526
    From related orgs
    $0
    Other
    $99,907
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $170,526
    Bonus
    not reported
    Other
    not reported
    Deferred
    $64,093
    Nontaxable benefits
    $35,814
    Filer's total
    $270,433

  • Jennifer Grossl

    Manager Marketing & Communications

    Total calculated
    $228,963
    From this org
    $166,562
    From related orgs
    $0
    Other
    $62,401
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $166,562
    Bonus
    not reported
    Other
    not reported
    Deferred
    $37,054
    Nontaxable benefits
    $25,347
    Filer's total
    $228,963

  • Kendall Davis

    Board Member

    Total calculated
    $21,400
    From this org
    $21,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Kelly Parkhurst

    Board Member

    Total calculated
    $12,500
    From this org
    $12,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Edward Barger

    Board Member

    Total calculated
    $9,700
    From this org
    $9,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Theresa Wren

    Board Member

    Total calculated
    $9,100
    From this org
    $9,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • David Edwards

    Board Member

    Total calculated
    $7,600
    From this org
    $7,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Dennis Fulk

    Board Member

    Total calculated
    $6,800
    From this org
    $6,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Mark Baker

    Board Member

    Total calculated
    $6,300
    From this org
    $6,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Larry Leachman

    Board Member

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kim Goepferich

    Board Member

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    11

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
7 November 2025
IRS schema version
2024v5.2
Source object
202513159349302846

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