TRAVERSE ELECTRIC COOPERATIVE INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- TRAVERSE ELECTRIC COOPERATIVE INC (EIN 41-0581955)
- Tax period
- 2022-01-01 to 2022-12-31
- Filed
- 2023-08-02
- IRS object ID
- 202312149349301506
- Schema version
- 2022v5.0
- 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 | 2023-08-02T13:59:33-05:00 | ReturnTs |
| Tax Period End | 2022-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2689 COMMERCE DRIVE NW SUITE 201 | AddressLine1Txt |
| City | ROCHESTER | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 55901 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 410581955 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TRAVERSE ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TRAV | BusinessNameControlTxt |
| Phone | 3205638616 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1618 BROADWAY PO BOX 66 | AddressLine1Txt |
| City | WHEATON | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 562960066 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JEREMY HUHNSTOCK | PersonNm |
| Person Title | GENERAL MANAGER | PersonTitleTxt |
| Phone | 3205638616 | PhoneNum |
| Signature | 2023-07-19 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | JEREMY | PersonFirstNm |
| Person Last | HUHNSTOCK | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KATHERINE LUTZKE CPA | PreparerPersonNm |
| PTIN | P01760889 | PTIN |
| Phone | 5072802300 | PhoneNum |
| Preparation | 2023-07-19 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DOUGLAS DIEKMANN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1618 BROADWAY PO BOX 66 | AddressLine1Txt |
| City | WHEATON | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 562960066 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $13,952,260 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.TRAVERSEELECTRIC.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1940 | FormationYr |
| Legal Domicile State | MN | LegalDomicileStateCd |
| Activity Or Mission | AN ELECTRIC COOPERATIVE PROVIDING ELECTRIC SERVICE TO MEMBERS AT THE LOWEST POSSIBLE COST. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 16 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $3,420 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $12,097,020 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $12,181,691 | CYProgramServiceRevenueAmt |
| PY Investment Income | $34,312 | PYInvestmentIncomeAmt |
| CY Investment Income | $110,484 | CYInvestmentIncomeAmt |
| PY Other Revenue | $516,565 | PYOtherRevenueAmt |
| CY Other Revenue | $1,441,058 | CYOtherRevenueAmt |
| PY Total Revenue | $12,647,897 | PYTotalRevenueAmt |
| CY Total Revenue | $13,733,233 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $1,386,452 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $1,948,350 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $316,283 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $540,975 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,945,162 | PYOtherExpensesAmt |
| CY Other Expenses | $11,243,908 | CYOtherExpensesAmt |
| PY Total Expenses | $12,647,897 | PYTotalExpensesAmt |
| CY Total Expenses | $13,733,233 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $32,279,504 | TotalAssetsBOYAmt |
| Total Assets EOY | $36,319,243 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $16,942,774 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $19,638,031 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $15,336,730 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $16,681,212 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE ELECTRIC SERVICE AT THE LOWEST POSSIBLE RATES, CONSISTENT WITH SOUND BUSINESS PRINCIPLES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SALES OF ELECTRIC POWER TO 2,242 MEMBERS WITH AN AVERAGE OF 3,202 ACTIVE ELECTRIC SERVICES. | Desc |
| 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 | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | 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 | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 22 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 16 | 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 | $12,573,531 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $1,767,186 | 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 | 0 | 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 | 0 | 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 | MELISSA PRZYMUS | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3205638616 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1618 BROADWAY | AddressLine1Txt |
| City | WHEATON | CityNm |
| State Abbreviation | MN | StateAbbreviationCd |
| ZIP | 56296 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (15 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| TOM FRISCH | |||||||
| DIRECTOR/VICE PRESIDENT | 1.70 | Yes (X) | Yes (X) | $3,875 | $0 | $0 | |
| TERRY MONSON | |||||||
| DIRECTOR | 3.20 | Yes (X) | $6,063 | $0 | $0 | ||
| STACY EHLERS | |||||||
| DIRECTOR | 1.50 | Yes (X) | $2,625 | $0 | $0 | ||
| RUSSELL ARMSTRONG | |||||||
| VICE PRESIDENT - PART YEAR | 3.00 | Yes (X) | Yes (X) | $1,625 | $0 | $0 | |
| MICHAEL MARKS | |||||||
| DIRECTOR/TREASURER | 3.80 | Yes (X) | Yes (X) | $5,750 | $0 | $0 | |
| MICHAEL GAULRAPP | |||||||
| DIRECTOR | 1.80 | Yes (X) | $3,750 | $0 | $0 | ||
| MATTHEW GLYNN | |||||||
| DIRECTOR | 1.70 | Yes (X) | $4,188 | $0 | $0 | ||
| MARK PEARSON | |||||||
| SECRETARY | 1.80 | Yes (X) | Yes (X) | $4,375 | $0 | $0 | |
| DOUGLAS DIEKMANN | |||||||
| PRESIDENT | 1.90 | Yes (X) | Yes (X) | $4,500 | $0 | $0 | |
| BRADLEY RUDOLPH | |||||||
| DIRECTOR | 2.00 | Yes (X) | $4,750 | $0 | $0 | ||
| JOEL JANORSCHKE | |||||||
| GENERAL MANAGER - PART YEAR | 48.70 | Yes (X) | $198,299 | $0 | $97,780 | ||
| DALE SCHWAGEL | |||||||
| OPERATIONS MANAGER/INTERIM GM | 48.10 | Yes (X) | $116,220 | $0 | $87,176 | ||
| RICHARD DAVIS | |||||||
| LINEMAN-FOREMAN | 43.30 | $101,180 | $0 | $61,996 | Yes (X) | ||
| KAREN LUPKES | |||||||
| OFFICE MANAGER | 43.80 | $113,603 | $0 | $84,737 | Yes (X) | ||
| COLDEN HELBERG | |||||||
| JOURNEYMAN LINEMAN | 44.10 | $105,187 | $0 | $42,694 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $675,990 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $374,383 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 5 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| COOPERATIVE BUILDING SOLUTIONS | |||||
| 77 WESTPORT PLAZA DR - STE 250 | ST LOUIS | MO | 63146 | NEW HEADQUARTS FACILITY PLANNING AND CON | $4,994,337 |
| STAR ENERGY SERVICES | |||||
| 6841 POWER LN SW | ALEXANDRIA | MN | 56308 | CONTRACTED ENGINEERING, IT, SAFETY SERVI | $270,867 |
| CARR'S TREE SERVICE INC | |||||
| PO BOX 250 | OTTERTAIL | MN | 56571 | CONTRACTED TREE TRIMMING | $132,150 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ELECTRIC SERVICE | Desc |
| Business | 221000 | BusinessCd |
| Total Revenue Column | $12,181,691 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,181,691 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $12,181,691 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $110,249 | TotalRevenueColumnAmt |
| Exclusion | $110,249 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $22,307 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $3,383 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $18,924 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $18,924 | TotalRevenueColumnAmt |
| Exclusion | $18,924 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $235 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | $235 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $235 | TotalRevenueColumnAmt |
| Exclusion | $235 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $227,087 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $215,644 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $11,443 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $8,023 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $3,420 | UnrelatedBusinessRevenueAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| CAPITAL CREDITS | 221000 | $1,010,691 | $1,010,691 |
| OTHER ELECTRIC REVENUE | 221000 | $400,000 | $400,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,410,691 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,733,233 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $13,600,405 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $3,420 | UnrelatedBusinessRevenueAmt |
| Exclusion | $129,408 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,948,350 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $540,975 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $530,629 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $785,691 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $7,363,386 |
| DISTRIBUTION EXPENSE - | $844,789 |
| ADMINISTRATIVE AND GENE | $465,820 |
| DISTRIBUTION EXPENSE - | $457,773 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $795,820 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,733,233 | TotalAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,560,162 | BOYAmt |
| EOY | $3,314,987 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $940,487 | BOYAmt |
| EOY | $922,266 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $168,608 | BOYAmt |
| EOY | $136,994 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $471,636 | BOYAmt |
| EOY | $890,307 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $139,209 | BOYAmt |
| EOY | $94,440 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $34,841,131 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $11,581,193 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,070,756 | BOYAmt |
| EOY | $23,259,938 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,928,646 | BOYAmt |
| EOY | $7,700,311 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,279,504 | BOYAmt |
| EOY | $36,319,243 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $972,734 | BOYAmt |
| EOY | $2,008,732 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $1,195,467 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,925,562 | BOYAmt |
| EOY | $16,387,905 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,928 | BOYAmt |
| EOY | $34,077 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,550 | BOYAmt |
| EOY | $11,850 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,942,774 | BOYAmt |
| EOY | $19,638,031 | 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 | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $534,923 | BOYAmt |
| EOY | $575,313 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,801,807 | BOYAmt |
| EOY | $16,105,899 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,336,730 | BOYAmt |
| EOY | $16,681,212 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,279,504 | BOYAmt |
| EOY | $36,319,243 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $1,344,482 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $428,483 | OtherCostOrOtherBasisAmt |
| Book Value | $428,483 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $429,047 | OtherCostOrOtherBasisAmt |
| Depreciation | $295,987 | DepreciationAmt |
| Book Value | $133,060 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $33,983,601 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,285,206 | DepreciationAmt |
| Book Value | $22,698,395 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $23,259,938 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (2 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| ERC LOANS | $98,061 | C |
| CAPITAL CREDITS IN OTHER CO-OPS | $7,602,250 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $7,700,311 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CONSUMERS DEPOSITS | Desc |
| Amt | $11,850 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $11,850 | TotalLiabilityAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART XI: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION HAS AUDIT REPORTS WITH YEAR-ENDED OF MARCH 31, 2023 AND 2022, WHICH IS DIFFERENT YEAR-END THAN TAX RETURNS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JOEL JANORSCHKE | ||||||||||||||
| GENERAL MANAGER - PART YEAR | $198,299 | $0 | $0 | $0 | $0 | $0 | $71,651 | $0 | $26,129 | $0 | $296,079 | $0 | $0 | $0 |
| DALE SCHWAGEL | ||||||||||||||
| OPERATIONS MANAGER/INTERIM GM | $116,220 | $0 | $0 | $0 | $0 | $0 | $52,827 | $0 | $34,349 | $0 | $203,396 | $0 | $0 | $0 |
| KAREN LUPKES | ||||||||||||||
| OFFICE MANAGER | $113,603 | $0 | $0 | $0 | $0 | $0 | $49,506 | $0 | $35,231 | $0 | $198,340 | $0 | $0 | $0 |
| RICHARD DAVIS | ||||||||||||||
| LINEMAN-FOREMAN | $101,180 | $0 | $0 | $0 | $0 | $0 | $30,289 | $0 | $31,707 | $0 | $163,176 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | THE BOARD OF DIRECTORS LOOKS AT COMPARABLE GENERAL MANAGER COMPENSATION PACKAGES AND DOES A FULL BOARD APPRAISAL AT THEIR JULY MEETING EACH YEAR. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | ALL ELECTRIC CUSTOMERS OF THE COOPERATIVE ARE MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A | COOPERATIVE MEMBERS ELECT THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION A, LINE 7B | ALL ACTIVE MEMBERS VOTE ON ANY BYLAW AMENDMENTS. EACH MEMBER HAS ONE VOTE. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD OF DIRECTORS RECEIVE A COPY OF THE FORM 990 AND REVIEW IT AT A BOARD MEETING AFTER IT IS FILED. THE GENERAL MANAGER, OFFICE MANAGER, AND ACCOUNTANT REVIEW THE PREPARED 990 BEFORE IT IS FILED WITH THE IRS. |
| FORM 990, PART VI, SECTION B, LINE 12C | A. EACH DIRECTOR AND EMPLOYEE OF TRAVERSE ELECTRIC SHALL MAKE EVERY REASONABLE EFFORT TO COMPLY WITH THE LETTER AND SPIRIT OF THIS POLICY. B. THE MANAGER SHALL MAKE EVERY REASONABLE EFFORT TO INFORM ALL EMPLOYEES ABOUT THE CONTENT OF THIS POLICY AND MAKE EVERY REASONABLE EFFORT BASED ON THE INFORMATION AVAILABLE TO HIM TO SEE THAT IT IS COMPLIED WITH AND REPORT TO THE BOARD OF DIRECTORS PERIODICALLY ON HOW THIS POLICY IS BEING CARRIED OUT. C. CONSISTENT WITH THE BYLAWS OF TRAVERSE ELECTRIC ANY DIRECTOR OR EMPLOYEE WHOSE CONDUCT INFRINGES UPON EITHER THE LETTER OF SPIRIT OF THIS POLICY, SHALL BE SUBJECT TO: (1) IF DIRECTOR OR MANAGER, EXPULSION OR TERMINATION BY APPROPRIATE ACTION OF THE BOARD OF DIRECTORS, OR (2) IF AN EMPLOYEE, TERMINATION BY APPROPRIATE ACTION OF THE MANAGER. THE ORGANIZATION DOCUMENT PROCEEDINGS RESULTING FROM CONFLICT OF INTEREST IN BOARD MINUTES AND THAT THE BOARD MEMBER ABSTAINED FROM VOTING. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE BOARD OF DIRECTORS IS RESPONSIBLE FOR REVIEWING THE GENERAL MANAGER SALARY. AN OUTSIDE CONSULTANT PROVIDES THE BOARD WITH METHODS TO PROPERLY EVALUATE THE PERFORMANCE OF THE GENERAL MANAGER (GM) AND REVIEWS COMPARABLE GM COMPENSATION TO VERIFY THE GM'S COMPENSATION IS WITHIN A COMPETITIVE RANGE FOR GM'S OF COMPARABLE ORGANIZATIONS AND PROVIDES THIS INFORMATION TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE GM'S COMPENSATION ANNUALLY. THE PROCESS WAS LAST CONDUCTED IN 2022. AN OUTSIDE CONSULTANT CONDUCTED A SALARY STUDY OF ALL NON-UNION POSITIONS WITHIN THE ORGANIZATION UTILIZING UPDATED JOB DESCRIPTIONS FOR EACH POSITION AND RECOMMENDED COMPARABLE SALARY RANGES FOR EACH POSITION. IT DID NOT GUARANTEE AN INCREASE TO ANY EMPLOYEE. THIS INFORMATION WAS PROVIDED TO THE GENERAL MANAGER TO DETERMINE A BUDGET FOR SALARY INCREASES, WHICH IS APPROVED BY THE BOARD OF DIRECTORS. DEPARTMENT MANAGERS COMPLETED A WRITTEN JOB/PERFORMANCE EVALUATION FOR EACH EMPLOYEE IN THEIR DEPARTMENT AND RECOMMENDED A SALARY INCREASE BASED UPON THE SALARY STUDY AND PERFORMANCE EVALUATION. THE GENERAL MANAGER REVIEWS THE SALARY RECOMMENDATIONS AND PROVIDES FINAL APPROVAL. THIS PROCESS WAS LAST CONDUCTED IN 2022. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE COOPERATIVE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | DONATED CAPITAL AND CAPITAL CREDITS RETIRED -603,868. PATRONAGE DIVIDENDS ALLOCATED 1,948,350. |
| FORM 990, PART XII LINE 2: | THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTANT FOR YEAR ENDED MARCH 31 ANNUALLY. THE 990 IS REPORTED WITH A YEAR END OF DECEMBER 31. |
| FORM 990, PART IX LINE 4: | THE IRS INSTRUCTIONS STATE THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. THE ORGANIZATION HAS INTERPRETED PATRONAGE DIVIDENDS PAID TO MEAN PATRONAGE DIVIDENDS ALLOCATED OR TO BE ALLOCATED FOR THE CURRENT YEAR. SINCE THIS ALLOCATION IS NOT AN EXPENSE UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), THIS HAS RESULTED IN A RECONCILING ITEM TO NET ASSETS IN PART XI, ON PAGE 12 OF THE FORM 990. |