Form 990 for tax year 2023

Filed by JACKSON ELECTRIC COOPERATIVE.

Totals

Total revenue: $25,220,038
Total expenses: $22,375,082
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $24,643,410
Investment income: $84,806
Other revenue: $491,822
Total assets, end of year: $52,517,629
Total liabilities, end of year: $27,221,989
Net assets or fund balances, end of year: $25,295,640
Program services expenses (Part IX): $0
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): $22,375,082

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.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$0
1e · Government grants (contributions)

$0
1f · All other contributions, gifts and grants

$0
1g · Noncash contributions included above

$0
2a · Program service revenue: Electric Revenues

total $23,845,776 · related or exempt $23,845,776 · unrelated business $0 · excluded $0
2b · Program service revenue: Capital Credit Allocations

total $797,634 · related or exempt $0 · unrelated business $0 · excluded $797,634
2c · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2d · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2e · Program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $84,806 · related or exempt $0 · unrelated business $0 · excluded $84,806
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $0 · personal property $0
6b · Less rental expenses

real property $0 · personal property $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
7a · Gross sales of assets other than inventory

securities $0 · other assets $0
7b · Less cost or other basis and sales expenses

securities $0 · other assets $0
7c · Gain or loss

securities $0 · other assets $0
7d · Net gain or loss

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
8a · Fundraising events: gross income

$0
8a · Fundraising events: contributions included on line 1c

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0 · unrelated business $0 · excluded $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
10a · Gross sales of inventory

$540,067
10b · Cost of goods sold

$399,539
10c · Net income from sales of inventory

total $140,528 · related or exempt $0 · unrelated business $8,102 · excluded $132,426
11a · Other revenue: Miscellaneous Non-Operating

total $351,294 · related or exempt $351,294 · unrelated business $0 · excluded $0
11b · Other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11c · Other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$351,294

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0 · program services $0
2 · Grants to domestic individuals

total $0 · program services $0
3 · Grants to foreign organizations and individuals

total $0 · program services $0
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $884,835 · program services $0 · management and general $0 · fundraising $0
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $278,591 · program services $0 · management and general $0 · fundraising $0
8 · Pension plan contributions

total $0 · program services $0 · management and general $0 · fundraising $0
9 · Other employee benefits

total $0 · program services $0 · management and general $0 · fundraising $0
10 · Payroll taxes

total $0 · program services $0 · management and general $0 · fundraising $0
11a · Fees: management

total $0 · program services $0 · management and general $0 · fundraising $0
11b · Fees: legal

total $0 · program services $0 · management and general $0 · fundraising $0
11c · Fees: accounting

total $0 · program services $0 · management and general $0 · fundraising $0
11d · Fees: lobbying

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $0 · program services $0 · management and general $0 · fundraising $0
11g · Fees: other

total $0 · program services $0 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $0 · program services $0 · management and general $0 · fundraising $0
13 · Office expenses

total $0 · program services $0 · management and general $0 · fundraising $0
14 · Information technology

total $0 · program services $0 · management and general $0 · fundraising $0
15 · Royalties

total $0 · program services $0 · management and general $0 · fundraising $0
16 · Occupancy

total $0 · program services $0 · management and general $0 · fundraising $0
17 · Travel

total $0 · program services $0 · management and general $0 · fundraising $0
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $0 · program services $0 · management and general $0 · fundraising $0
20 · Interest

total $844,361 · program services $0 · management and general $0 · fundraising $0
21 · Payments to affiliates

total $0 · program services $0 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $1,960,319 · program services $0 · management and general $0 · fundraising $0
23 · Insurance

total $0 · program services $0 · management and general $0 · fundraising $0
24a · Other expenses: Cost of Purchased Power

total $14,320,160 · program services $0 · management and general $0 · fundraising $0
24b · Other expenses: Distribution Operations

total $1,189,953 · program services $0 · management and general $0 · fundraising $0
24c · Other expenses: Distribution Maintenance

total $1,231,319 · program services $0 · management and general $0 · fundraising $0
24d · Other expenses: Consumer Accounts

total $327,265 · program services $0 · management and general $0 · fundraising $0
24e · All other expenses

total $1,338,279 · program services $0 · management and general $0 · fundraising $0
26 · Joint costs (an allocation of the lines above)

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $219,300 · end of year $2,031,917
2 · Savings and temporary cash investments

beginning of year $3,015,673 · end of year $677,442
3 · Pledges and grants receivable

beginning of year $0 · end of year $0
4 · Accounts receivable

beginning of year $914,022 · end of year $992,794
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $59,066 · end of year $182,458
8 · Inventories for sale or use

beginning of year $343,936 · end of year $420,139
9 · Prepaid expenses and deferred charges

beginning of year $0 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$57,260,752
10b · Land, buildings and equipment: accumulated depreciation

$23,474,985
10c · Land, buildings and equipment, net

beginning of year $32,147,706 · end of year $33,785,767
11 · Investments: publicly traded securities

beginning of year $0 · end of year $0
12 · Investments: other securities

beginning of year $0 · end of year $0
13 · Investments: program-related

beginning of year $11,408,755 · end of year $11,900,106
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year $2,785,742 · end of year $2,527,006
17 · Accounts payable and accrued expenses

beginning of year $1,777,407 · end of year $1,518,916
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $0 · end of year $0
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $23,119,957 · end of year $21,997,113
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $3,127,988 · end of year $3,705,960
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 $22,868,848 · end of year $25,295,640

Mission and programs · 2023

Mission

Distribution of electricity primarily to rural parts of Jackson County and five other counties in west-central Wisconsin.

Distribution of electricity primarily to rural parts of six counties in west-central Wisconsin.

Expenses $22,375,082 · Revenue $25,220,038

As filed on the 2023 return.

Listed in Part VII

Kevin Babcock

CEO

Total calculated

$478,242

From this org

$265,082

From related orgs

$0

Other

$213,160

Hours/week

55

Schedule J breakdown matched by us

Base

$265,082

Bonus

$0

Other

$0

Deferred

$213,160

Nontaxable benefits

$0

Filer's total

$478,242
Eric Steien

Line Superintendent

Total calculated

$151,443

From this org

$116,730

From related orgs

$0

Other

$34,713

Hours/week

40

Schedule J breakdown matched by us

Base

$116,730

Bonus

$0

Other

$0

Deferred

$34,713

Nontaxable benefits

$0

Filer's total

$151,443
Adam Wiedl

Lineman

Total calculated

$120,660

From this org

$117,159

From related orgs

$0

Other

$3,501

Hours/week

40

Schedule J breakdown matched by us

Base

$117,159

Bonus

$0

Other

$0

Deferred

$3,501

Nontaxable benefits

$0

Filer's total

$120,660
Grant Witcraft

Lineman

Total calculated

$111,666

From this org

$103,921

From related orgs

$0

Other

$7,745

Hours/week

40

Schedule J breakdown matched by us

Base

$103,921

Bonus

$0

Other

$0

Deferred

$7,745

Nontaxable benefits

$0

Filer's total

$111,666
Jesse Hansen

Lineman

Total calculated

$112,806

From this org

$102,588

From related orgs

$0

Other

$10,218

Hours/week

40

Schedule J breakdown matched by us

Base

$102,588

Bonus

$0

Other

$0

Deferred

$10,218

Nontaxable benefits

$0

Filer's total

$112,806
Hazy Wood

Lineman

Total calculated

$109,621

From this org

$100,367

From related orgs

$0

Other

$9,254

Hours/week

40

Schedule J breakdown matched by us

Base

$100,367

Bonus

$0

Other

$0

Deferred

$9,254

Nontaxable benefits

$0

Filer's total

$109,621
Gary Woods

Board President

Total calculated

$11,450

From this org

$11,450

From related orgs

$0

Other

$0

Hours/week

4
Chris Curran

Board Vice President

Total calculated

$8,968

From this org

$8,968

From related orgs

$0

Other

$0

Hours/week

4
David Peasley

Board Secretary

Total calculated

$9,132

From this org

$9,132

From related orgs

$0

Other

$0

Hours/week

4
Leslie Dokkestul

Board Director

Total calculated

$10,969

From this org

$10,969

From related orgs

$0

Other

$0

Hours/week

4
Brian Huber

Board Director

Total calculated

$9,219

From this org

$9,219

From related orgs

$0

Other

$0

Hours/week

4
Jerry Huber

Board Director

Total calculated

$8,972

From this org

$8,972

From related orgs

$0

Other

$0

Hours/week

4
Kristi Hanson

Board Director

Total calculated

$8,804

From this org

$8,804

From related orgs

$0

Other

$0

Hours/week

4
Troy Torkelson

Board Director

Total calculated

$5,956

From this org

$5,956

From related orgs

$0

Other

$0

Hours/week

4
Daniel Smrekar

Board Director

Total calculated

$5,518

From this org

$5,518

From related orgs

$0

Other

$0

Hours/week

4

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

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: | Name :, Title:, Item Selected:, Amount:| Kevin Babcock, 15000|

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Jackson Solar

Installation of solar panels arrays and related solar hardware. · WI · income $8,102 · assets $141,346

Directly controlled by Jackson Electric Cooperative

Provenance

Return type: form_990
Tax year: 2023
Filed: 22 October 2024
IRS schema version: 2023v5.1
Source object: 202412969349300601

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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