Civic Intelligence

Richland Electric Cooperative

EIN 39-0568995 • 501(c)12 • Richland Center, WI

Profile

Provide electric energy to its members.

PO Box 439Richland Center, WI 53581

www.richec.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

76th percentile

0.59x

Higher debt load relative to assets than 76% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

66th percentile

1.80x

Higher debt load relative to revenue than 66% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Net Margin

51st percentile

3.2%

Higher net margin than 51% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

94th percentile

$373,439

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Asset Growth

12th percentile

-1.0%

Faster asset growth than 12% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

49th percentile

4.2%

Faster revenue growth than 49% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Down

$29,006,161

Down $292,822 (-1.0%) from 2023

Liabilities

Down

$16,979,764

Down $529,425 (-3.0%) from 2023

Net Assets

Up

$12,026,397

Up $236,603 (+2.0%) from 2023

Revenue

Up

$9,436,813

Up $377,527 (+4.2%) from 2023

Expenses

Up

$9,136,764

Up $396,482 (+4.5%) from 2023

Net Income

Down

$300,049

Down $18,955 (-5.9%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $21,434,487Liabilities 2010: $12,592,487Net Assets 2010: $8,842,0002010Assets 2011: $21,886,936Liabilities 2011: $12,683,793Net Assets 2011: $9,203,1432011Assets 2012: $22,949,150Liabilities 2012: $13,472,826Net Assets 2012: $9,476,3242012Assets 2013: $24,043,016Liabilities 2013: $14,215,070Net Assets 2013: $9,827,9462013Assets 2014: $24,090,241Liabilities 2014: $14,002,924Net Assets 2014: $10,087,3172014Assets 2015: $24,513,285Liabilities 2015: $13,895,828Net Assets 2015: $10,617,4572015Assets 2016: $25,249,244Liabilities 2016: $14,323,497Net Assets 2016: $10,925,7472016Assets 2017: $26,072,763Liabilities 2017: $14,918,153Net Assets 2017: $11,154,6102017Assets 2018: $26,560,998Liabilities 2018: $15,286,550Net Assets 2018: $11,274,4482018Assets 2019: $26,783,991Liabilities 2019: $15,338,312Net Assets 2019: $11,445,6792019Assets 2020: $27,660,262Liabilities 2020: $16,102,262Net Assets 2020: $11,558,0002020Assets 2021: $27,318,323Liabilities 2021: $15,701,165Net Assets 2021: $11,617,1582021Assets 2022: $29,072,907Liabilities 2022: $17,435,697Net Assets 2022: $11,637,2102022Assets 2023: $29,298,983Liabilities 2023: $17,509,189Net Assets 2023: $11,789,7942023Assets 2024: $29,006,161Liabilities 2024: $16,979,764Net Assets 2024: $12,026,3972024

Highlighted filing

2024

Assets$29,006,161
Liabilities$16,979,764
Net Assets$12,026,397

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $7,175,1932010Expenses 2011: $7,918,2772011Expenses 2012: $8,157,8142012Revenue 2013: $8,521,857Expenses 2013: $8,651,068Net Income 2013: -$129,2112013Revenue 2014: $8,557,076Expenses 2014: $8,633,494Net Income 2014: -$76,4182014Revenue 2015: $8,132,807Expenses 2015: $8,147,287Net Income 2015: -$14,4802015Revenue 2016: $8,362,262Expenses 2016: $8,168,020Net Income 2016: $194,2422016Revenue 2017: $8,303,528Expenses 2017: $8,068,753Net Income 2017: $234,7752017Revenue 2018: $8,434,546Expenses 2018: $8,335,575Net Income 2018: $98,9712018Revenue 2019: $8,473,070Expenses 2019: $8,322,033Net Income 2019: $151,0372019Revenue 2020: $8,382,932Expenses 2020: $8,232,145Net Income 2020: $150,7872020Revenue 2021: $8,213,321Expenses 2021: $8,033,296Net Income 2021: $180,0252021Revenue 2022: $8,933,778Expenses 2022: $8,748,763Net Income 2022: $185,0152022Revenue 2023: $9,059,286Expenses 2023: $8,740,282Net Income 2023: $319,0042023Revenue 2024: $9,436,813Expenses 2024: $9,136,764Net Income 2024: $300,0492024

Highlighted filing

2024

Revenue$9,436,813
Expenses$9,136,764
Net Income$300,049

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.0$17.0$12.0$9.44$9.14$0.30
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.3$17.5$11.8$9.06$8.74$0.32
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.1$17.4$11.6$8.93$8.75$0.19
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.3$15.7$11.6$8.21$8.03$0.18
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.7$16.1$11.6$8.38$8.23$0.15
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.8$15.3$11.4$8.47$8.32$0.15
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.6$15.3$11.3$8.43$8.34$0.10
2017Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$26.1$14.9$11.2$8.30$8.07$0.23
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.2$14.3$10.9$8.36$8.17$0.19
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$24.5$13.9$10.6$8.13$8.15$0.01
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.1$14.0$10.1$8.56$8.63$0.08
2013Detailed filing. Detailed filing data is available for this year.$24.0$14.2$9.83$8.52$8.65$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.9$13.5$9.48$8.16
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.9$12.7$9.20$7.92
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.4$12.6$8.84$7.18
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 6, 2025
Return Version
2024v5.0
Gross Receipts
$9,472,452
Mission and Program Overview

Mission

Provide electric energy to its members.

Provide electric energy service to our 3,300 members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,089,505$22,119,728▲ $30,223
Rtn Earn Endowment Incm Other Fnds$11,789,794$12,026,397▲ $236,603
Investments Program Related$4,590,408$4,670,056▲ $79,648
Accounts Receivable$873,788$981,338▲ $107,550
Inventories for Sale or Use$451,996$387,193▼ $64,803
Savings and Temporary Cash Investments$361,407$361,589▲ $182
Other Notes and Loans Receivable, Net$248,993$211,034▼ $37,959
Cash and Non-Interest-Bearing Accounts$630,757$129,022▼ $501,735
Prepaid Expenses and Deferred Charges$40,387$115,291▲ $74,904
Total Assets$29,298,983$29,006,161▼ $292,822
Other Assets Total$11,742$30,910▲ $19,168
Liabilities
Mortgage Notes Payable Secured by Investment Property$15,354,045$14,986,925▼ $367,120
Other Liabilities$1,695,986$1,582,436▼ $113,550
Accounts Payable and Accrued Expenses$459,158$410,403▼ $48,755
Total Liabilities$17,509,189$16,979,764▼ $529,425
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,789,794$12,026,397▲ $236,603
Total Liabilities and Net Assets / Fund Balance$29,298,983$29,006,161▼ $292,822

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$22,038,674$12,362,061$34,400,735
Land$81,054-$81,054
Investment Program Related Org$6,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Shannon ClarkFormer CEO/gFT$225,067$148,372$373,439
Shannon ClarkFormer CEO/gm-$225,067$150,872$373,439
Amy MartinCEO/gmFT$157,003$101,441$258,444
Curt BrockwayLine SuperinFT$119,959$62,505$182,464
Curt BrockwayLine Superintendent-$117,459$65,005$182,464
Mark MillerDirector of EnergFT$124,709$50,399$175,108
Mark MillerDirector of Energy Svcs-$122,209$50,399$175,108
Grant ButcherJourneyman LFT$118,609$40,690$159,299
Grant ButcherJourneyman Lineman-$118,609$40,690$159,299
David DarlingJourneymanliFT$127,239$24,801$152,040
David DarlingJourneymanlineworker-$127,239$24,801$152,040
Jadon OlsonJourneyman LPT$122,335$28,502$150,837
Jadon OlsonJourneyman Lineman-$122,335$28,502$150,837
Calvin SebranekPresident-$7,650-$7,650
Kevin KeplerDirectorPT$7,325-$7,325
Timothy TillerTreasurer-$6,350-$6,350
Judy MurphySecretary-$6,100-$6,100
Daniel HillberryVice Preside-$5,300-$5,300
Steven FullerDirector-$5,250-$5,250
James GoplinDirector-$4,850-$4,850
Jeffrey MonsonDirector-$4,850-$4,850
Donald HuffmanDirector-$4,400-$4,400

Highest Paid Contractors

ContractorServicesLocationCompensation
Asplundh Tree Expert CoMaintenance708 BLAIR MILL RD, Willow Grove, PA 19090$400,582
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$9,383,128
Investment Income
$15,077
Other Revenue
$38,608
Change in Net Assets
$300,049

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,436,813
Revenue Not Reported on Form 990
$14,434
Total Revenue per Audited Statements
$9,451,247
Total Revenue per Form 990
$9,436,813
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$8,495,288
Salaries, Compensation, and Employee Benefits$436,645
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,039,736
Interest---$638,618
Other Expenses---$468,649
Comp Disqual Persons---$225,067
Current Officers, Directors, Trustees, and Key Employees---$211,578
Benefits to Members---$204,831
All Other Expenses---$184,400
Total Functional Expenses$0$0$0$9,136,764

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$9,136,764
Total Expenses per Audited Statements$8,979,912
Expenses per Audited Statements$8,931,933
Expenses Not Reported on Financial Statements$204,831
Other Expense Adjustments$204,831
Expenses Not Reported on Form 990$47,979
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Credits$1,086,962
Accrued Payroll$268,080
Accrued Interst$109,599
Customer Deposits$75,030
Finance Lease$15,815
Patronage Capital Payable$14,151
Accrued Taxes$12,799
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The cooperative is organized without capital stock and there is only one class of members with respect to voting rights.

Form 990, Page 6, Part VI, Line 7A

Members of the cooperative elect members of the board of directors at the annual meeting

Form 990, Page 6, Part VI, Line 7B

Each member is entitled to one vote upon each matter submitted to a vote at the meeting of the members

Form 990, Page 6, Part VI, Line 11B

Form 990 is reviewed by the board of directors after being prepared. A copy, either electronic or facsimile, is sent to the board of directors for their review. Any questions or comments are raised at the next scheduled board meeting.

Form 990, Page 6, Part VI, Line 12C

Any conflicts of interest that arise are brought to the attention of the general manager and/or the board of directors

Form 990, Page 6, Part VI, Line 15A

Ceo, officer, and key employee compensation is reviewed by the board of directors and the salary is adjusted based upon a national comparability study prepared by an independent party. The comparability data is segmented into nation, state, region, and size of organization, and correlated with local data for similar positions in the community. The ceos compensation is also based on performace of strategic goals as determined in a strategic planning process as well as safety performance.

Form 990, Page 6, Part VI, Line 15B

SEE ABOVE

Form 990, Page 6, Part VI, Line 19

The organziation provides each new member with a copy of the bylaws and articles of incorporation. Existing members can request copies free of charge. Financial statements are provided to each member annually in an annual meeting booklet mailed to all members. These booklets are also available on the organization website. Detailed copies of the organizations audit are availabe upon request. Board and administrative policies are available to members for any suitable business purpose, upon request.

Filing and Contact Details

Filer

Filer Name
Richland Electric Cooperative
EIN
39-0568995
Phone
6086473173
Address
PO BOX 439, RICHLAND CENTER, WI 53581

Signing Officer

Name
Amy Martin
Title
CEO/gm
Phone
6086473173
Signed
2025-08-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amy Martin
Formed
1936
Legal Domicile
Wi
Voting Board Members
9
Independent Board Members
9
Employees
18

Preparer

Firm
Carlsonsv Llp
Address
505 HWY 169 N SUITE 100, PLYMOUTH, MN 55441
Preparer
Matt Guyer CPA
Phone
7635429633
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Current year margins allocated to members 204,831 revenues from taxable subsidiary 14,434 capital credits retired -234,732 expenses from taxable subsidiary -43,583 first call expenses -3,592 other -804 total -63,446

Financial Statement Notes

Schedule D, Page 3, Part X

The company accounts for income tax provisions following asc topic 740 income taxes, which prescribes a comprehensive model for recognizing, measuring, presenting and disclosing in the financial statements any uncertain income tax positions the company has or expects to take in its income tax returns. The company's policy is to include interest and penalties related to unrecognized tax benefits/liabilities in income tax expense. The company had no unrecognized tax benefits/liabilities.

Schedule D, Page 4, Part XI, Line 2D

Income from taxable subsidiary 14,434

Schedule D, Page 4, Part XII, Line 2D

Expenses from taxable subsidiary 43,583 first call expenses 3,592 other 804

Schedule D, Page 4, Part XII, Line 4B

Capital credit allocated to members 204,831

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0FORMER CEO/G
IRS990/Form990PartVIISectionAGrp/TitleTxt1CEO/GM
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIR OF ENERG
IRS990/Form990PartVIISectionAGrp/TitleTxt4JOURNEYMAN L
IRS990/Form990PartVIISectionAGrp/TitleTxt5JOURNEYMANLI
IRS990/Form990PartVIISectionAGrp/TitleTxt6JOURNEYMAN L
IRS990/Form990PartVIISectionAGrp/TitleTxt7PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2INVESTMENT IN SUBISDIARY
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3NRTC
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc4NATIONAL RURAL UTILITES COOPERATIVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc5RURAL ELECTRIC SUPPLY
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc6FEDERATED RURAL ELECTRIC INSURANCE
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc8OTHER INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc9CHARGE EV LLC
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED CREDITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED PAYROLL
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED INTERST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3CUSTOMER DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4FINANCE LEASE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5PATRONAGE CAPITAL PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6ACCRUED TAXES
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY ACCOUNTS FOR INCOME TAX PROVISIONS FOLLOWING ASC TOPIC 740 INCOME TAXES, WHICH PRESCRIBES A COMPREHENSIVE MODEL FOR RECOGNIZING, MEASURING, PRESENTING AND DISCLOSING IN THE FINANCIAL STATEMENTS ANY UNCERTAIN INCOME TAX POSITIONS THE COMPANY HAS OR EXPECTS TO TAKE IN ITS INCOME TAX RETURNS. THE COMPANY'S POLICY IS TO INCLUDE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS/LIABILITIES IN INCOME TAX EXPENSE. THE COMPANY HAD NO UNRECOGNIZED TAX BENEFITS/LIABILITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INCOME FROM TAXABLE SUBSIDIARY 14,434
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXPENSES FROM TAXABLE SUBSIDIARY 43,583 FIRST CALL EXPENSES 3,592 OTHER 804
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3CAPITAL CREDIT ALLOCATED TO MEMBERS 204,831
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt08979912

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