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Nonprofiteer
← SPOON RIVER ELECTRIC CO-OPERATIVE INCORPORATED

Form 990 for tax year 2024

Filed by SPOON RIVER ELECTRIC CO-OPERATIVE INCORPORATED.

Totals

Total revenue
$12,488,219
Total expenses
$11,764,669
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,427,915
Investment income
$60,304
Other revenue
$0
Total assets, end of year
$39,502,795
Total liabilities, end of year
$20,062,958
Net assets or fund balances, end of year
$19,439,837
Program services expenses (Part IX)
$11,764,669
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$11,764,669

Program services were 100.0% 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: Energy Sales

    total $11,809,381 · related or exempt $11,809,381

  • 2b · Program service revenue: Patronage Capital

    total $412,544 · related or exempt $412,544

  • 2c · Program service revenue: Other Electric Revenue

    total $185,312 · related or exempt $185,312

  • 2d · Program service revenue: Non-operating

    total $20,678 · related or exempt $20,678

  • 3 · Investment income

    total $33,072 · related or exempt $33,072

  • 7a · Gross sales of assets other than inventory

    other assets $38,720

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

    other assets $11,488

  • 7c · Gain or loss

    other assets $27,232

  • 7d · Net gain or loss

    total $27,232 · related or exempt $27,232

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $350,675 · program services $350,675

  • 20 · Interest

    total $821,268 · program services $821,268

  • 22 · Depreciation, depletion and amortization

    total $1,238,624 · program services $1,238,624

  • 24a · Other expenses: Purchased Power

    total $6,009,933 · program services $6,009,933

  • 24b · Other expenses: Distribution

    total $2,262,030 · program services $2,262,030

  • 24c · Other expenses: Adminstration

    total $697,083 · program services $697,083

  • 24d · Other expenses: Customer Service & Acco

    total $195,638 · program services $195,638

  • 24e · All other expenses

    total $189,418 · program services $189,418

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $459,243 · end of year $488,532

  • 4 · Accounts receivable

    beginning of year $1,386,938 · end of year $1,422,534

  • 8 · Inventories for sale or use

    beginning of year $386,867 · end of year $368,636

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,818 · end of year $91,130

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

    $44,457,427

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

    $14,936,106

  • 10c · Land, buildings and equipment, net

    beginning of year $27,660,480 · end of year $29,521,321

  • 12 · Investments: other securities

    beginning of year $7,398,252 · end of year $7,610,642

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,106,681 · end of year $2,035,473

  • 23 · Secured mortgages and notes payable

    beginning of year $16,844,993 · end of year $17,309,951

  • 25 · Other liabilities

    beginning of year $521,622 · end of year $717,534

  • 29 · Capital stock, trust principal or current funds

    beginning of year $113,530 · end of year $114,370

  • 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 $18,755,772 · end of year $19,325,467

Mission and programs · 2024

Mission

To make the satisfaction of our members or number one priority. To continue our core business of providing reliable electric service to our members. To maintain the fiscal stability of the organization. To provide other products and services t our members that enhance their quality of life.

  • The Cooperative provides electric service through its distribution system to our member/owners located in Fulton, Knox, McDonough, Peoria and Schuyler Counties in Central Illinois.

    Expenses $11,764,669 · Revenue $12,488,219

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

Listed in Part VII

  • Louis Gray

    Lineman

    Total calculated
    $169,052
    From this org
    $157,673
    From related orgs
    $0
    Other
    $11,379
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $157,132
    Bonus
    $0
    Other
    $541
    Deferred
    $4,174
    Nontaxable benefits
    $7,205
    Filer's total
    $169,052

  • Joshua DeWees

    CEO

    Total calculated
    $216,662
    From this org
    $148,036
    From related orgs
    $0
    Other
    $68,626
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $147,261
    Bonus
    $0
    Other
    $775
    Deferred
    $43,673
    Nontaxable benefits
    $24,953
    Filer's total
    $216,662

  • Tyler Fulton

    Jny Lineman

    Total calculated
    $158,010
    From this org
    $135,423
    From related orgs
    $0
    Other
    $22,587
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $134,882
    Bonus
    $0
    Other
    $541
    Deferred
    $2,933
    Nontaxable benefits
    $19,654
    Filer's total
    $158,010

  • Paul Moffitt

    Jny Lineman

    Total calculated
    $195,897
    From this org
    $132,311
    From related orgs
    $0
    Other
    $63,586
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $131,770
    Bonus
    $0
    Other
    $541
    Deferred
    $43,255
    Nontaxable benefits
    $20,331
    Filer's total
    $195,897

  • Jared Lascelles

    Jny Lineman

    Total calculated
    $156,945
    From this org
    $131,924
    From related orgs
    $0
    Other
    $25,021
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $131,383
    Bonus
    $0
    Other
    $541
    Deferred
    $4,690
    Nontaxable benefits
    $20,331
    Filer's total
    $156,945

  • Mark Procarione

    Operations Mgr

    Total calculated
    $159,133
    From this org
    $124,046
    From related orgs
    $0
    Other
    $35,087
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $123,401
    Bonus
    $0
    Other
    $645
    Deferred
    $34,929
    Nontaxable benefits
    $158
    Filer's total
    $159,133

  • Trent Ross

    Jny Lineman

    Total calculated
    $148,030
    From this org
    $119,366
    From related orgs
    $0
    Other
    $28,664
    Hours/week
    41

  • William Sego

    Line Foreman

    Total calculated
    $166,952
    From this org
    $116,136
    From related orgs
    $0
    Other
    $50,816
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $115,518
    Bonus
    $0
    Other
    $618
    Deferred
    $25,863
    Nontaxable benefits
    $24,953
    Filer's total
    $166,952

  • Mary Bartley

    CFO & Office Manager

    Total calculated
    $90,221
    From this org
    $65,268
    From related orgs
    $0
    Other
    $24,953
    Hours/week
    41

  • Chad Riney

    Controller

    Total calculated
    $19,361
    From this org
    $19,335
    From related orgs
    $0
    Other
    $26
    Hours/week
    41

  • Bernard Marvel

    President

    Total calculated
    $6,679
    From this org
    $6,679
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Dan Williams

    Director

    Total calculated
    $4,510
    From this org
    $4,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Joe Davis

    Director

    Total calculated
    $4,510
    From this org
    $4,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • John Disharoon

    Director

    Total calculated
    $4,281
    From this org
    $4,281
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Wesley Strode

    Vice President

    Total calculated
    $3,385
    From this org
    $3,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kurt Duncan

    Director

    Total calculated
    $2,710
    From this org
    $2,710
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jack Clark

    Secretary

    Total calculated
    $2,479
    From this org
    $2,479
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • JoDee Pedigo

    Treasurer

    Total calculated
    $2,035
    From this org
    $2,035
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Lyle Nelson

    Director

    Total calculated
    $1,881
    From this org
    $1,881
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Part I, Line 3
The Board of Directors review compensation, based on industry surveys and employee performance before approving executive compensation.

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.

  • Spoon River Holdings Inc

    C · Holding company for related companies · IL · 100% owned

Provenance

Return type
form_990
Tax year
2024
Filed
29 April 2025
IRS schema version
2024v5.1
Source object
202511199349301316

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

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