Consumers Energy FY2024 filing

Not tax-deductible

Marshalltown, IAMutual-benefit / member-servingSince 1938Mutual / membership EIN 42-0396598Revenue $24.3M in FY2024

On file with the IRSconsumersenergy.coop2074 242nd St, 50158-9137 · Marshalltown, IATax-exempt since Aug 1939

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Consumers energy's mission is to provide our members with reliable electric service in a safe manner at affordable and equitable rates.

$1.1M 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $986K a year · 4% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$1.1M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $10.1M in investments, Pt X · Ln 11–13
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$36.0M
53% of total assets
Fine: liabilities are 53% 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
$24.3M
-2% vs prior year
Spent
$23.2M
Net assets
$31.4M
By yearFY2020–FY2025
Revenue
$24.3M
FY2024▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2020$20.5M
FY2021$20.9M
FY2022$23.4M
FY2023$24.8M
FY2024$24.3M
FY2025$26.6M
Expenses
$23.2M
FY2024▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$19.4M
FY2021$20.4M
FY2022$22.9M
FY2023$23.6M
FY2024$23.2M
FY2025$25.1M
Net assets
$31.4M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$25.5M
FY2021$27.1M
FY2022$28.5M
FY2023$30.1M
FY2024$31.4M
FY2025$33.3M

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: FY2025. IRS ruling in Aug 1939.

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

Who runs it and what they're paid

16 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/General Manager
$204,600Pt VII · Sec A
COO/Operation Manager
$166,265Pt VII · Sec A
Operations Supervisor
$134,116Pt VII · Sec A
Member Services/HR Manager
$128,568Pt VII · Sec A
Lead Lineman
$126,158Pt VII · Sec A
Lineman
$123,087Pt VII · Sec A
Lineman
$122,102Pt VII · Sec A
$8,940Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
James Kidd—————$222,875
Bridget Itzen$201,620$204,600$187,250$184,627$145,804$121,071
Kevin Peterson$166,563—$158,092$143,464$139,280$140,668
Kevin Pterson—$166,265————
Elliot Mayland$129,385$134,116$117,373$110,897$105,321$117,260
Gail Hull$124,857$128,568$112,187———
Rick Dolash$123,973$126,158$116,143$112,306$103,779$108,941
Max Upah—$123,087—$103,646——

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 15aYes

Programs and updates

Delivering safe, affordable, and equitable electricity to members.

Questions for Consumers Energy

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The cooperative provided electric service to a total of 6,541 members.

Pt IX · col B

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$24.3M
Ln 12
Fees for servicesLn 2g$24.2M
Investment incomeLn 3$100K
Other incomeLn 4–11$27K
Money outPt IX
$23.2M
Ln 25
Owns and owesPt X
$31.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.6M
Total assetsLn 16$67.5M
LiabilitiesLn 26$36.0M
PeoplePt VI, VII
16
listed · VII A
PaidVII A16
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$24.2M
Investment incomeLn 3$100K
Other incomeLn 4–11$27K
Total revenueLn 12$24.3M
Assets in detailPt X, end of year
SavingsLn 2$3.6M
Cash and savings togetherLn 1–2$3.6M
InvestmentsLn 11–13$10.1M
Land, buildings, equipmentLn 10c$45.6M
Other assetsLn 15$90K
Total assetsLn 16$67.5M
LiabilitiesLn 26$36.0M
Net assetsLn 32$31.4M
OperationsPt I, VI
EmployeesI 530
VolunteersI 60
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$4.8M$3.6M
InvestmentsLn 11–13$9.4M$10.1M
Land, buildings, equipmentLn 10c$42.0M$45.6M
Total assetsLn 16$64.0M$67.5M
LiabilitiesLn 26$33.9M$36.0M
Net assetsLn 32$30.1M$31.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5K
Benefits paid to or for membersLn 4$906K
Pay of current officers, directors and key staffLn 5$548K
Other salaries and wagesLn 7$2.2M
Pension plan contributionsLn 8$489K
Payroll taxesLn 10$193K
InterestLn 20$1.4M
Depreciation, depletion and amortizationLn 22$2.6M
Other expenses (24a–d)Ln 24$17.3M
All other expensesLn 24e−$2.3M
Total functional expensesLn 25$23.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $26.6M$25.1M$1.5M$33.3M 990 PDF
FY2024 Viewing $24.3M$23.2M$1.1M$31.4M 990 PDF
FY2023 $24.8M$23.6M$1.2M$30.1M 990 PDF
FY2022 $23.4M$22.9M$525K$28.5M 990 PDF
FY2021 $20.9M$20.4M$510K$27.1M 990 PDF
FY2020 $20.5M$19.4M$1.1M$25.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $24,334,290 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $24,885,543$24,207,107
I-10 Investment incomePrior year $43,433$100,377
I-11 Other revenuePrior year −$124,861$26,806
I-12 Total revenuePrior year $24,804,115$24,334,290
I-13 Grants and similar amounts paidPrior year $1,350$5,350
I-14 Benefits paid to membersPrior year $1,008,423$906,338
I-15 Salaries and benefitsPrior year $3,186,931$3,404,132
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $19,406,475$18,917,766
I-18 Total expensesPrior year $23,603,179$23,233,586
I-19 Revenue less expensesPrior year $1,200,936$1,100,704
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $24,334,290 across 3 lines filed
Lines not itemized here account for $26,806 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $24,151,296 · Unrelated business $55,811$24,207,107
VIII-3 Investment incomeExcluded from tax $100,377$100,377
VIII-12 Total revenueRelated to mission $24,178,102 · Unrelated business $55,811 · Excluded from tax $100,377$24,334,290
Part IX · Statement of functional expenses $23,233,586 across 10 lines filed
IX-1 Grants to domestic organizations$5,350
IX-4 Benefits paid to or for members$906,338
IX-5 Pay of current officers, directors and key staff$548,163
IX-7 Other salaries and wages$2,173,597
IX-8 Pension plan contributions$489,054
IX-10 Payroll taxes$193,318
IX-20 Interest$1,405,890
IX-22 Depreciation, depletion and amortization$2,575,300
IX-24 Other expenses (24a–d)$17,281,746
IX-24e All other expenses−$2,345,170
IX-25 Total functional expenses$23,233,586
Part X · Balance sheet $67,464,514 assets, 14 lines filed
Asset lines not itemized here account for $1,228,125; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $4,839,309$3,603,211
X-4 Accounts receivableStart of year $2,728,750$2,683,428
X-8 Inventories for sale or useStart of year $3,143,769$3,231,139
X-9 Prepaid expenses and deferred chargesStart of year $1,361,263$946,564
X-10c Land, buildings and equipment, netStart of year $41,999,033$45,617,976
X-13 Program-related investmentsStart of year $9,426,391$10,064,086
X-15 Other assetsStart of year $142,488$89,985
X-16 Total assetsStart of year $64,024,365$67,464,514
X-17 Accounts payable and accrued expensesStart of year $2,327,542$2,497,294
X-24 Unsecured notes and loans payableStart of year $150,000$750,000
X-25 Other liabilitiesStart of year $2,028,385$2,196,596
X-26 Total liabilitiesStart of year $33,921,733$36,022,147
X-32 Total net assets or fund balancesStart of year $30,102,632$31,442,367
X-33 Total liabilities and net assetsStart of year $64,024,365$67,464,514
Part XI · Reconciliation of net assets $31,442,367 net assets at year end
XI-1 Total revenue$24,334,290
XI-2 Total expenses$23,233,586
XI-3 Revenue less expenses$1,100,704
XI-4 Net assets at start of year$30,102,632
XI-9 Other changes in net assets$239,031
XI-10 Net assets at end of year$31,442,367

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

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