THUMB ELECTRIC COOPERATIVE OF MICHIGAN INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- THUMB ELECTRIC COOPERATIVE OF MICHIGAN INC (EIN 38-1101255)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-10-22
- IRS object ID
- 202412969349301756
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-10-22T13:40:28-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 450250958 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Eide Bailly LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4585 Coleman St Ste 200 | AddressLine1Txt |
| City | Bismarck | CityNm |
| State Abbreviation | ND | StateAbbreviationCd |
| ZIP | 58503 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 381101255 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Thumb Electric Cooperative Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | THUM | BusinessNameControlTxt |
| Phone | 9896588571 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2231 Main Street | AddressLine1Txt |
| City | Ubly | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 484750157 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Bradley Essenmacher | PersonNm |
| Person Title | General Manager | PersonTitleTxt |
| Phone | 9896588571 | PhoneNum |
| Signature | 2024-10-17 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Lisa Chaffee CPA | PreparerPersonNm |
| PTIN | P00193453 | PTIN |
| Phone | 7012551091 | PhoneNum |
| Preparation | 2024-10-14 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Bradley Essenmacher | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2231 Main Street | AddressLine1Txt |
| City | Ubly | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 484750157 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $31,283,735 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.tecmi.coop | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1937 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | Electric Cooperative with Broadband. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 65 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $587,361 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $27,510,812 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $30,575,610 | CYProgramServiceRevenueAmt |
| PY Investment Income | $637,946 | PYInvestmentIncomeAmt |
| CY Investment Income | $644,181 | CYInvestmentIncomeAmt |
| PY Other Revenue | $51,939 | PYOtherRevenueAmt |
| CY Other Revenue | $47,538 | CYOtherRevenueAmt |
| PY Total Revenue | $28,200,697 | PYTotalRevenueAmt |
| CY Total Revenue | $31,267,329 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,448,143 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $2,268,423 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,624,991 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,931,247 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $19,953,529 | PYOtherExpensesAmt |
| CY Other Expenses | $21,545,306 | CYOtherExpensesAmt |
| PY Total Expenses | $27,026,663 | PYTotalExpensesAmt |
| CY Total Expenses | $30,744,976 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,174,034 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $522,353 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $142,582,924 | TotalAssetsBOYAmt |
| Total Assets EOY | $169,361,198 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $110,594,045 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $134,122,237 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $31,988,879 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $35,238,961 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Electric Cooperative with Fiber Division. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Electric power and services provided to 12,395 members and served 2,004 miles. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Fiber division provided broadband to 1,851 members. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 24 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 65 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $26,781,316 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,243,709 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Deborah Peruski | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 9896588571 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2231 Main Street | AddressLine1Txt |
| City | Ubly | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 484750157 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|
| Jonathan M Findlay | |||||||||
| President | 2.00 | Yes (X) | Yes (X) | $14,000 | $0 | $0 | |||
| Kim Nunn | |||||||||
| Vice President | 2.00 | Yes (X) | Yes (X) | $11,200 | $0 | $0 | |||
| Mike P Briolat | |||||||||
| Secretary | 2.00 | Yes (X) | Yes (X) | $8,000 | $0 | $0 | |||
| Randall J Dhyse | |||||||||
| Treasurer | 2.00 | Yes (X) | Yes (X) | $7,400 | $0 | $0 | |||
| Duane Kursinsky | |||||||||
| Director | 2.00 | Yes (X) | $5,800 | $0 | $0 | ||||
| Louis E Wenzlaff | |||||||||
| Director | 2.00 | Yes (X) | $7,400 | $0 | $0 | ||||
| Craig M Osentoski | |||||||||
| Director | 2.00 | Yes (X) | $8,200 | $0 | $0 | ||||
| Matt L Sommer | |||||||||
| Director | 2.00 | Yes (X) | $8,200 | $0 | $0 | ||||
| Erica L Weidman | |||||||||
| Director | 2.00 | Yes (X) | $6,000 | $0 | $0 | ||||
| Bradley Essenmacher | |||||||||
| General Manager | 40.00 | Yes (X) | $252,879 | $0 | $110,728 | ||||
| Deborah Peruski | |||||||||
| Accounting Manager | 40.00 | Yes (X) | $123,744 | $0 | $152,564 | ||||
| Brandon Legault | |||||||||
| Operations Manager | 40.00 | $165,700 | $0 | $35,659 | Yes (X) | ||||
| James Vogel | |||||||||
| Journeyman Lineman-Foreman | 40.00 | $162,691 | $0 | $42,792 | Yes (X) | ||||
| Gary Burns Jr | |||||||||
| Journeyman Lineman-Foreman | 40.00 | $157,088 | $0 | $30,515 | Yes (X) | ||||
| Daniel Land | |||||||||
| Journeyman Lineman | 40.00 | $149,138 | $0 | $17,407 | Yes (X) | ||||
| Jeffrey Swick | |||||||||
| Journeyman Lineman | 40.00 | $149,516 | $0 | $63,136 | Yes (X) | ||||
| Jacob Waun | |||||||||
| Journeyman Lineman | 40.00 | $147,317 | $0 | $15,012 | Yes (X) | ||||
| Dallas Braun | |||||||||
| Former General Manager | 40.00 | $213,028 | $0 | $30,202 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,597,301 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $498,015 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 21 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Lecom Construction | |||||
| 27663 Mound Rd | Warren | MI | 48092 | Fiber Contractor | $8,966,198 |
| Pulse Broadband LLC | |||||
| 2121 Coooperative Way Ste 600 | Herndon | VA | 20171 | Fiber Materials | $3,064,308 |
| IRBY | |||||
| PO Box 741001 | Atlanta | GA | 30384 | Line/Fiber Materials | $2,721,089 |
| Kappen Tree Service | |||||
| 2675 Hurds Corner Rd | Cass City | MI | 48726 | Tree Trimming | $2,177,509 |
| RESCO | |||||
| PO Box 44430 | Madison | WI | 537444430 | Line/Fiber Materials | $1,589,281 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 10 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| Electric Sales | 221000 | $24,527,326 | $24,527,326 |
| Fiber Revenue | 517000 | $3,668,659 | $3,668,659 |
| Other Sales | 900099 | $1,594,194 | $1,594,194 |
| Capital Credits | 221000 | $785,298 | $785,298 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $133 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $133 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $30,575,610 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $634,339 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $587,361 | UnrelatedBusinessRevenueAmt |
| Exclusion | $46,978 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $55,986 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $8,448 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $47,538 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $47,538 | TotalRevenueColumnAmt |
| Exclusion | $47,538 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $17,800 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $7,958 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $9,842 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $9,842 | TotalRevenueColumnAmt |
| Exclusion | $9,842 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $31,267,329 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $30,575,610 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $587,361 | UnrelatedBusinessRevenueAmt |
| Exclusion | $104,358 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,268,423 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $797,068 | TotalAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $243,230 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,621,022 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $861,951 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $407,976 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,124,066 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,895,123 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,695,548 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Cost of Power | $10,885,110 |
| Distribution | $4,102,206 |
| Fiber | $2,015,849 |
| Admin and General | $1,519,424 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$5,692,020 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,744,976 | TotalAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,789,360 | BOYAmt |
| EOY | $1,921,415 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,629,904 | BOYAmt |
| EOY | $7,111,281 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,786,066 | BOYAmt |
| EOY | $12,661,701 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $202,416 | BOYAmt |
| EOY | $197,645 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $162,642,946 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $36,736,369 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $102,308,548 | BOYAmt |
| EOY | $125,906,577 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,818,350 | BOYAmt |
| EOY | $21,527,142 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,280 | BOYAmt |
| EOY | $35,437 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $142,582,924 | BOYAmt |
| EOY | $169,361,198 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,617,661 | BOYAmt |
| EOY | $14,584,418 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $791,528 | BOYAmt |
| EOY | $819,245 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $97,184,856 | BOYAmt |
| EOY | $118,718,574 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $110,594,045 | BOYAmt |
| EOY | $134,122,237 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $190,495 | BOYAmt |
| EOY | $192,790 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,798,384 | BOYAmt |
| EOY | $35,046,171 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,988,879 | BOYAmt |
| EOY | $35,238,961 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $142,582,924 | BOYAmt |
| EOY | $169,361,198 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $522,353 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $2,727,729 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,163,862 | OtherCostOrOtherBasisAmt |
| Book Value | $1,163,862 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,950,428 | OtherCostOrOtherBasisAmt |
| Depreciation | $907,829 | DepreciationAmt |
| Book Value | $2,042,599 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $140,706,045 | OtherCostOrOtherBasisAmt |
| Depreciation | $35,828,540 | DepreciationAmt |
| Book Value | $104,877,505 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $17,822,611 | OtherCostOrOtherBasisAmt |
| Book Value | $17,822,611 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $125,906,577 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (10 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| Vacant Land | $12,000 | C |
| Hogan Property | $63,282 | C |
| Associated Organizations-Patronage Capital | $1,865,648 | C |
| Investment in Thumb Energy Service Corporation | -$65,291 | C |
| Air Advantage LLC | $18,936,714 | C |
| Capital Term Certificates | $560,419 | C |
| Member Capital Securities | $150,000 | C |
| Cooperative Finance Corp Membership | $2,000 | C |
| CoBank Investment | $1,000 | C |
| CTC Subscription | $1,370 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $21,527,142 | TotalBookValueProgramRltdAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $31,822,437 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $555,108 | OtherRevenueAmt |
| Revenue Not Reported | $555,108 | RevenueNotReportedAmt |
| Revenue Subtotal | $31,267,329 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $31,267,329 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $28,476,553 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $28,476,553 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $2,268,423 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,268,423 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $30,744,976 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Part X, Line 2: | The Company evaluates its tax positions that have been taken or are expected to be taken on income tax returns to determine if an accrual is necessary for uncertain tax positions. As of December 31, 2023 and 2022, the unrecognized tax benefits accrual was zero. The Company will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense if incurred. |
| Part XI, Line 2d - Other Adjustments: | Earnings of Wholly Owned Subsidiary 555,108. |
| Part XII, Line 4b - Other Adjustments: | Current Year Patronage Allocation 2,268,423. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (9 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bradley Essenmacher | ||||||||||||||
| General Manager | $249,037 | $0 | $0 | $0 | $3,842 | $0 | $89,024 | $0 | $25,179 | $0 | $367,082 | $0 | $0 | $0 |
| Deborah Peruski | ||||||||||||||
| Accounting Manager | $122,223 | $0 | $0 | $0 | $1,521 | $0 | $143,861 | $0 | $10,813 | $0 | $278,418 | $0 | $0 | $0 |
| Dallas Braun | ||||||||||||||
| Former General Manager | $116,732 | $0 | $0 | $0 | $96,296 | $0 | $202 | $0 | $30,000 | $0 | $243,230 | $0 | $0 | $0 |
| Jeffrey Swick | ||||||||||||||
| Journeyman Lineman | $148,134 | $0 | $0 | $0 | $1,382 | $0 | $47,569 | $0 | $17,515 | $0 | $214,600 | $0 | $0 | $0 |
| James Vogel | ||||||||||||||
| Journeyman Lineman-Foreman | $162,201 | $0 | $0 | $0 | $490 | $0 | $22,170 | $0 | $22,515 | $0 | $207,376 | $0 | $0 | $0 |
| Brandon Legault | ||||||||||||||
| Operations Manager | $165,258 | $0 | $0 | $0 | $442 | $0 | $35,659 | $0 | $2,487 | $0 | $203,846 | $0 | $0 | $0 |
| Gary Burns Jr | ||||||||||||||
| Journeyman Lineman-Foreman | $156,839 | $0 | $0 | $0 | $249 | $0 | $11,973 | $0 | $20,557 | $0 | $189,618 | $0 | $0 | $0 |
| Daniel Land | ||||||||||||||
| Journeyman Lineman | $148,916 | $0 | $0 | $0 | $222 | $0 | $4,075 | $0 | $15,208 | $0 | $168,421 | $0 | $0 | $0 |
| Jacob Waun | ||||||||||||||
| Journeyman Lineman | $147,219 | $0 | $0 | $0 | $98 | $0 | $8,033 | $0 | $8,848 | $0 | $164,198 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule J, Part II, column C, Deferred Compensation: | FormAndLineReferenceDesc |
| Explanation | Included in other compensation is the estimated current year increase in the actuarial value of the defined benefit plan. These amounts do not represent any current year contributions to the plan. They are estimates of the increase in the actuarial value of the plans received from the NRECA. The current year expense and the increase in actuarial value for each employee are reflected in the statement for Form 990, Part VII, Column f. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (13 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 4 | The bylaws were updated for a change in the Board of Director nominations. The bylaws state all nominations for directors shall be made by the filing of a nominating petition in the form prescribed by the Board. To be eligible for nomination, a candidate must meet the qualifications for the office of director as set forth in these Bylaws. Nominating petitions shall be signed by not less than fifteen (15) members of the Cooperative in good standing from the county which the candidate seeks to represent. |
| Form 990, Part VI, Section A, line 6 | The Cooperative has members. Each member has one voting right. |
| Form 990, Part VI, Section A, line 7a | The Board of Directors is elected by the members. |
| Form 990, Part VI, Section A, line 7b | Members vote on items affecting the bylaws of the Cooperative. |
| Form 990, Part VI, Section A, line 8b | There are no other committees that act on behalf of the governing board. |
| Form 990, Part VI, Section B, line 11b | The Form 990 is reviewed and approved by the General Manager and Accounting Manager. The form is then provided to the Board before it is filed with the IRS. |
| Form 990, Part VI, Section B, line 12c | The Board and Management staff conduct a yearly review for any conflicts. The General Manager reviews the documents and determines if a conflict exists. The General Manager would request that individual abstain from voting. |
| Form 990, Part VI, Section B, line 15 | The Board annually reviews and approves the compensation for the General Manager and Accounting Manager in conjunction with NRECA compensation study. The Board review and approval is substantiated in the Board minutes. |
| Form 990, Part VI, Section C, line 19 | The governing documents, conflict of interest policy and financial statements are available to the public upon request. |
| Form 990, Part Vll, Section A, Line 1a: | Included in column "F", estimated amount of other compensation, is the estimated annual increase in the actuarial value of the defined benefit plan. The estimated increase is as follows for the Part VII individuals: Bradley Essenmacher: $79,019 Deborah Peruski: $138,943 Brandon Legault: $29,344 Gary Burns Jr: $7,405 James Vogel: $17,602 Daniel Land: $2,038 Jeffrey Swick: $43,286 Jacob Waun: $3,750 These amounts are estimates in the increase of the value of the plan and are not current year expenses of the cooperative. The current year expense for this defined benefit plan was as follows: Bradley Essenmacher: $50,791 Deborah Peruski: $31,382 Brandon Legault: $36,655 Gary Burns Jr: $24,394 James Vogel: $22,867 Daniel Land: $22,867 Jeffrey Swick: $22,867 Jacob Waun: $22,867 Dallas Braun had no actuarial change due to his retirement on 12/31/2022. |
| Form 990, Part IX, Line 4 | The Cooperative has interpreted the instructions to this line and section to mean patronage capital allocated for the year, rather than patronage capital retired. This is consistent with the Cooperative bylaws. |
| Form 990, Part IX, Statement of Functional Expenses, Line 24e | The labor, pension, and payroll taxes reported on lines 5-10 are already included in distribution expense, administrative & general expense and customer expense. Therefore, these amounts are being subtracted out as an other deduction included on line 24e in the amount of $(6,931,247). |
| Form 990, Part XI, line 9: | Change in Membership 2,295. Other Equity Transactions 135,094. Retirement of Capital Credits -233,191. Patronage Capital Allocated 2,268,423. Earnings of Wholly Owned Subsidiary 555,108. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Thumb Energy Services Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2231 Main Strret | AddressLine1Txt |
| City | Ubly | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 48475 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 383291674 | EIN |
| Primary Activities | Holding Company | PrimaryActivitiesTxt |
| Legal Domicile State | MI | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Thumb Electric Cooperative Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Share Of Total Income | $5,664,920 | ShareOfTotalIncomeAmt |
| Share Of EOY Assets | $20,173,685 | ShareOfEOYAssetsAmt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (1) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | Yes (1) | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | Yes (1) | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (5 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Thumb Energy Services Corporation | ||
| A | $587,361 | General Ledger/Loan Document |
| Thumb Energy Services Corporation | ||
| O | $248,831 | General Ledger |
| Thumb Energy Services Corporation | ||
| S | $1,690,000 | General Ledger |
| Thumb Energy Services Corporation | ||
| R | $425,000 | General Ledger |
| Thumb Energy Services Corporation | ||
| F | $800,000 | General Ledger |