Menard Electric Cooperative

Not tax-deductible

Petersburg, ILMutual-benefit / member-servingSince 1936EIN 37-0413095Revenue $34.0M in FY2024

On file with the IRSmenard.comPo Box 200, 62675-0200 · Petersburg, ILTax-exempt since Jun 1938

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To provide high quality Electric service at a reasonable cost

$1.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $40K a year · under 1% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.2M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$53.0M
59% of total assets
Fine: liabilities are 59% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$34.0M
-4% vs prior year
Spent
$33.8M
To programs
0%
Net assets
$37.0M
By yearFY2020–FY2024
Revenue
$34.0M
FY2024▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$30.1M
FY2021$31.4M
FY2022$31.8M
FY2023$35.3M
FY2024$34.0M
Expenses
$33.8M
FY2024▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2020$30.1M
FY2021$31.4M
FY2022$31.8M
FY2023$35.3M
FY2024$33.8M
Net assets
$37.0M
FY2024▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$30.4M
FY2021$32.4M
FY2022$33.2M
FY2023$34.7M
FY2024$37.0M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1938.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

18 people listed on the 990; $1.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
General Manager
$226,374Pt VII · Sec A
Area Serviceman B2
$157,032Pt VII · Sec A
Crew Leader
$148,156Pt VII · Sec A
Director of Member Services
$147,259Pt VII · Sec A
Journeyman
$139,405Pt VII · Sec A
Journeyman
$139,222Pt VII · Sec A
Dir Acctg & Finance
$97,381Pt VII · Sec A
Retired General Manager
$64,583Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Alisha Anker$226,374$225,386$245,420$212,045$211,403
Patricia Michaels$147,259$143,032$158,445$130,662—
Robert W Hanner$157,032————
Matt Wassell————$150,006
Brandon Blair—$124,197$134,471$127,746$149,916
Jeremy J Willis$148,156————
Brady Smith—$132,074$143,399——
Dwaine Heyen————$141,268

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Delivers reliable electricity affordably to its customers.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Provide electric services to over 11,000 accounts in 8 counties in Central Illinois.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$9K
Grants paid · 1 grant · $6K · 2024–2024
Oakford Fire ProtectionFY2024$5,650

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$34.0M
Ln 12
Fees for servicesLn 2g$33.6M
Gifts and grantsLn 1h$202K
Investment incomeLn 3$116K
Money outPt IX
$33.8M
Ln 25
Owns and owesPt X
$37.0M
net assets · Ln 32
Cash and savingsLn 1–2$663K
Total assetsLn 16$90.0M
LiabilitiesLn 26$53.0M
PeoplePt VI, VII
18
listed · VII A
PaidVII A18
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$202K
Government grantsLn 1e$202K
Fees for servicesLn 2g$33.6M
Investment incomeLn 3$116K
Other incomeLn 4–11$12K
Gains on assetsLn 7$43K
Total revenueLn 12$34.0M
Assets in detailPt X, end of year
CashLn 1$663K
Cash and savings togetherLn 1–2$663K
InvestmentsLn 11–13$17.4M
Land, buildings, equipmentLn 10c$67.6M
Total assetsLn 16$90.0M
LiabilitiesLn 26$53.0M
Net assetsLn 32$37.0M
OperationsPt I, VI
EmployeesI 544
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1K$663K
InvestmentsLn 11–13$16.3M$17.4M
Land, buildings, equipmentLn 10c$64.7M$67.6M
Total assetsLn 16$86.5M$90.0M
LiabilitiesLn 26$51.8M$53.0M
Net assetsLn 32$34.7M$37.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$10K
Benefits paid to or for membersLn 4$3.3M
Pay of current officers, directors and key staffLn 5$589K
Other salaries and wagesLn 7$936K
InterestLn 20$1.6M
Depreciation, depletion and amortizationLn 22$2.8M
Other expenses (24a–d)Ln 24$24.4M$24.4M
All other expensesLn 24e$26K
Total functional expensesLn 25$33.8M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $34.0M$33.8M$202K$37.0M 990 PDF
FY2023 $35.3M$35.3M$0$34.7M 990 PDF
FY2022 $31.8M$31.8M$0$33.2M 990 PDF
FY2021 $31.4M$31.4M$0$32.4M 990 PDF
FY2020 $30.1M$30.1M$0$30.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $33,958,496 revenue, 12 lines filed
I-8 Contributions and grants$201,545
I-9 Program service revenuePrior year $35,237,805$33,629,013
I-10 Investment incomePrior year $48,971$115,541
I-11 Other revenuePrior year $26,332$12,397
I-12 Total revenuePrior year $35,313,108$33,958,496
I-13 Grants and similar amounts paid$10,000
I-14 Benefits paid to membersPrior year $2,598,289$3,279,984
I-15 Salaries and benefitsPrior year $1,454,860$1,524,799
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $31,259,959$28,942,168
I-18 Total expensesPrior year $35,313,108$33,756,951
I-19 Revenue less expenses$201,545
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $33,958,496 across 9 lines filed
VIII-1e Government grants$201,545
VIII-1h Total contributions, gifts and grants$201,545
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $33,629,013$33,629,013
VIII-3 Investment incomeExcluded from tax $72,289$72,289
VIII-6 Net rental income or lossExcluded from tax $27,856$27,856
VIII-7 Net gain or loss on sales of assetsRelated to mission $43,252$43,252
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$15,459−$15,459
VIII-12 Total revenueRelated to mission $33,656,806 · Unrelated business $0 · Excluded from tax $100,145$33,958,496
Part IX · Statement of functional expenses $33,756,951 across 8 lines filed
IX-1 Grants to domestic organizations$10,000
IX-4 Benefits paid to or for members$3,279,984
IX-5 Pay of current officers, directors and key staff$588,589
IX-7 Other salaries and wages$936,210
IX-20 Interest$1,646,300
IX-22 Depreciation, depletion and amortization$2,830,764
IX-24 Other expenses (24a–d)Programs $24,439,563$24,439,563
IX-24e All other expenses$25,541
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$33,756,951
Part X · Balance sheet $90,023,143 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,154$663,204
X-4 Accounts receivableStart of year $2,835,557$2,858,246
X-8 Inventories for sale or useStart of year $1,680,228$905,876
X-9 Prepaid expenses and deferred chargesStart of year $364,625$601,415
X-10c Land, buildings and equipment, netStart of year $64,665,748$67,552,957
X-13 Program-related investmentsStart of year $16,265,076$17,441,445
X-16 Total assetsStart of year $86,529,247$90,023,143
X-17 Accounts payable and accrued expensesStart of year $4,636,047$3,613,623
X-19 Deferred revenueStart of year $1,012,354$1,089,122
X-25 Other liabilitiesStart of year $690,252$811,472
X-26 Total liabilitiesStart of year $51,797,456$53,003,509
X-32 Total net assets or fund balancesStart of year $34,731,791$37,019,634
X-33 Total liabilities and net assetsStart of year $86,529,247$90,023,143
Part XI · Reconciliation of net assets $37,019,634 net assets at year end
XI-1 Total revenue$33,958,496
XI-2 Total expenses$33,756,951
XI-3 Revenue less expenses$201,545
XI-4 Net assets at start of year$34,731,791
XI-9 Other changes in net assets$2,086,298
XI-10 Net assets at end of year$37,019,634

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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