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Nonprofiteer
← MOR-GRAN-SOU ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by MOR-GRAN-SOU ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$24,260,085
Total expenses
$24,260,085
Contributions and grants received
$0
Grants paid
$7,266
Program service revenue
$22,615,905
Investment income
$208,379
Other revenue
$1,435,801
Total assets, end of year
$111,760,031
Total liabilities, end of year
$66,275,960
Net assets or fund balances, end of year
$45,484,071
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 ELECTRICITY

    total $21,759,987 · related or exempt $21,759,987

  • 2b · Program service revenue: OTHER ELECTRIC REVENUE

    total $855,918 · related or exempt $855,918

  • 3 · Investment income

    total $210,879 · excluded $210,879

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

    other assets $2,500

  • 7c · Gain or loss

    other assets -$2,500

  • 7d · Net gain or loss

    total -$2,500 · related or exempt -$2,500

  • 11a · Other revenue: CAPITAL CREDITS

    total $1,360,133 · related or exempt $1,360,133

  • 11b · Other revenue: MISCELLANEOUS

    total $177,912 · excluded $177,912

  • 11c · Other revenue: K-1 WDUS HOLDINGS

    total -$102,244 · unrelated business -$102,244

  • 11e · Other revenue, total

    $1,435,801

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,266

  • 4 · Benefits paid to or for members

    total $2,155,997

  • 5 · Compensation of officers, directors and key employees

    total $83,563

  • 8 · Pension plan contributions

    total $432,191

  • 11a · Fees: management

    total $298,520

  • 20 · Interest

    total $2,447,617

  • 22 · Depreciation, depletion and amortization

    total $2,885,947

  • 24a · Other expenses: COST OF POWER

    total $9,993,283

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $1,568,069

  • 24c · Other expenses: ADMINISTRATIVE AND GENE

    total $1,488,961

  • 24d · Other expenses: DISTRIBUTION - OPERATIO

    total $1,407,647

  • 24e · All other expenses

    total $1,491,024

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,908,974 · end of year $3,000,299

  • 2 · Savings and temporary cash investments

    beginning of year $1,500,000 · end of year $6,750,000

  • 4 · Accounts receivable

    beginning of year $2,393,780 · end of year $2,981,968

  • 8 · Inventories for sale or use

    beginning of year $2,097,970 · end of year $2,820,349

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,867 · end of year $27,281

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

    $126,247,914

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

    $41,851,503

  • 10c · Land, buildings and equipment, net

    beginning of year $80,436,869 · end of year $84,396,411

  • 12 · Investments: other securities

    beginning of year $11,837,520 · end of year $11,783,723

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,687,818 · end of year $1,929,643

  • 23 · Secured mortgages and notes payable

    beginning of year $51,569,881 · end of year $62,562,190

  • 25 · Other liabilities

    beginning of year $1,751,289 · end of year $1,784,127

  • 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 $44,187,992 · end of year $45,484,071

Mission and programs · 2023

Mission

MOR-GRAN-SOU ELECTRIC COOPERATIVE IS DEDICATED TO PROVIDING AFFORADABLE, RELIABLE ENERGY & SERVICES THAT SUPPORT AND UNITE OUR MEMBER-OWNERS.

Activities or mission (Part I)

PROVIDE ELECTRIC UTILITY SERVICE

  • MOR-GRAN-SOU PROVIDES RELIABLE, AFFORDABLE ENERGY TO ITS MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Steve Tomac

    CHAIRMAN

    Total calculated
    $11,900
    From this org
    $11,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    7.44

  • Chad Harrison

    VICE CHAIR

    Total calculated
    $12,425
    From this org
    $12,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.56

  • Pam Geiger

    SECRETARY-TREASURER

    Total calculated
    $9,363
    From this org
    $9,363
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.85

  • Mark Doll

    DIRECTOR

    Total calculated
    $5,950
    From this org
    $5,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.04

  • Rodney Froelich

    DIRECTOR

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.46

  • Robert Leingang

    DIRECTOR

    Total calculated
    $9,800
    From this org
    $9,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.96

  • Ryan Petrick

    DIRECTOR

    Total calculated
    $9,100
    From this org
    $9,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.38

  • Kathy Tokach

    DIRECTOR

    Total calculated
    $7,700
    From this org
    $7,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.6

  • Casey Wells

    DIRECTOR

    Total calculated
    $10,325
    From this org
    $10,325
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.62

  • Jason Bentz Iea Employee

    CO-MANAGER

    Total calculated
    $0
    Hours/week
    0 + 40 related

  • Travis Kupper Iea Employee

    CO-MANAGER

    Total calculated
    $0
    Hours/week
    0 + 40 related

  • Alex Craigmileiea Employee

    CFO

    Total calculated
    $0
    Hours/week
    0 + 40 related

  • Jason Helgeson

    SENIOR ENGINEERING TECHNIC

    Total calculated
    $232,015
    From this org
    $132,997
    From related orgs
    $0
    Other
    $99,018
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,997
    Bonus
    $0
    Other
    $0
    Deferred
    $65,001
    Nontaxable benefits
    $34,017
    Filer's total
    $232,015

  • Gary Fitterer

    LEADMAN

    Total calculated
    $229,058
    From this org
    $145,448
    From related orgs
    $0
    Other
    $83,610
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,448
    Bonus
    $0
    Other
    $0
    Deferred
    $71,652
    Nontaxable benefits
    $11,958
    Filer's total
    $229,058

  • Julie Armijo

    MEMBER SERVICES MANAGER

    Total calculated
    $223,251
    From this org
    $103,017
    From related orgs
    $0
    Other
    $120,234
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,017
    Bonus
    $0
    Other
    $0
    Deferred
    $87,053
    Nontaxable benefits
    $33,181
    Filer's total
    $223,251

  • Jesse Kuhn

    ENGINEERING TECHNICIAN

    Total calculated
    $211,294
    From this org
    $126,392
    From related orgs
    $0
    Other
    $84,902
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,392
    Bonus
    $0
    Other
    $0
    Deferred
    $51,354
    Nontaxable benefits
    $33,548
    Filer's total
    $211,294

  • Jason Jahner

    LEADMAN

    Total calculated
    $207,983
    From this org
    $133,607
    From related orgs
    $0
    Other
    $74,376
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,607
    Bonus
    $0
    Other
    $0
    Deferred
    $46,338
    Nontaxable benefits
    $28,038
    Filer's total
    $207,983

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.

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • WDUS HOLDINGS LLC

    UNRELATED · PROVIDE CONSTRUCTION SERVICES TO ELECTRIC COOPERATIVES · ND · 33.33% owned · share of income -$118,888 · share of assets $999,828

Provenance

Return type
form_990
Tax year
2023
Filed
15 July 2024
IRS schema version
2023v5.1
Source object
202412209349301301

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