Nonprofit · EIN 37-0228808
CORN BELT ELECTRIC COOPERATIVE INC
Tax-exempt · BLOOMINGTON, IL 61705
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $88,250,529 | $88,250,529 | $0 | $240,916,473 | $125,796,594 | $115,119,879 |
| December 31, 2023 | 990 | $91,331,713 | $91,331,713 | $0 | $224,077,494 | $105,043,146 | $119,034,348 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $87,349,265
- Investment income
- $828,535
- Net rental income
- $43,277
- Net gain from sales of assets
- $304,173
- Other revenue
- $72,729
Expenses
- Grants and similar amounts paid
- $14,750
- Benefits paid to members
- $5,339,510
- Compensation of officers, directors and key employees
- $1,740,692
- Other salaries and wages
- $1,128,181
- Salaries, compensation and benefits (total)
- $2,868,873
- Professional fundraising fees
- $0
- Depreciation
- $7,197,723
Balance sheet and other
- Total assets, start of year
- $224,077,494
- Total assets, end of year
- $240,916,473
- Total liabilities, end of year
- $125,796,594
- Net assets, end of year
- $115,119,879
- Land, buildings and equipment
- $179,042,409
- Gross unrelated business income
- $40,990
- Gross receipts
- $88,286,922
- Employees
- 81
- Year formed
- 1938
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Don Taylor | President Officer | 50 | $519,416 | $149,564 |
| Ryan Campbell | VP Electric Distribtuion Key employee | 50 | $216,250 | $118,853 |
| Leonard Joe Priestley | VP Utility Services Key employee | 50 | $208,453 | $64,719 |
| Greg Yakle | Manager of Engineering Highest-paid employee | 50 | $180,204 | $81,255 |
| Lynn Oleson | Dir of Accounting & Finance Officer | 56 | $151,383 | $104,604 |
| Brian Felker | Construction Foreman Highest-paid employee | 57 | $209,878 | $45,546 |
| Chris Burnett | Journeyman Highest-paid employee | 52 | $174,899 | $39,107 |
| Mike Conway | Area Serviceman Highest-paid employee | 50 | $160,405 | $43,974 |
| Whitney Lee Shanholtz | Area Serviceman Highest-paid employee | 50 | $162,390 | $30,523 |
| Rae Payne | Chairman of the Board Trustee or director | 7.33 | $29,100 | $0 |
| Jerry Starkey | Director Trustee or director | 7.34 | $23,950 | $0 |
| Peter Borowski | Secretary-Treasurer Trustee or director | 5.36 | $20,550 | $0 |
| Dennis Fredrickson | Vice Chairman Trustee or director | 7.3 | $19,950 | $0 |
| Barbara Metzger | Director Trustee or director | 7.65 | $18,900 | $0 |
| Beth Beachy | Director Trustee or director | 4.08 | $18,650 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kay Werts | Director Trustee or director | 8.54 | $18,450 |
| Janice Reimer | Assist Sec-Treasurer Trustee or director | 5.32 | $18,300 |
| Denise Mayes | Director Trustee or director | 3.52 | $14,250 |
| Terry Longman | Director Trustee or director | 3.61 | $12,750 |
| Frank Koblisek | Director Trustee or director | 3.62 | $12,600 |
990 for the year ended December 31, 2023: 20 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Don Taylor | President Officer | 50 | $474,744 | $143,541 |
| Ryan Campbell | VP Electric Distribtuion Key employee | 50 | $196,912 | $103,392 |
| Leonard Joe Priestley | VP Utility Services Key employee | 50 | $202,803 | $61,050 |
| Norm Dunlap | Mgr Construction & Maintenanc Highest-paid employee | 50 | $140,309 | $109,718 |
| Greg Yakle | Manager of Engineering Highest-paid employee | 50 | $165,326 | $75,803 |
| Mark Schaley | Maintenance Foreman Highest-paid employee | 48 | $161,875 | $74,217 |
| Mike Nelson | Northern Region Manager Highest-paid employee | 50 | $142,181 | $88,781 |
| Brian Felker | Construction Foreman Highest-paid employee | 54 | $183,952 | $43,829 |
| Lynn Oleson | Dir of Accounting & Finance Officer | 50 | $138,127 | $87,129 |
| Rae Payne | Chairman of the Board Trustee or director | 9.99 | $29,500 | $0 |
| Jerry Starkey | Director Trustee or director | 6.15 | $22,450 | $0 |
| Barbara Metzger | Director Trustee or director | 15.11 | $21,650 | $0 |
| Dennis Fredrickson | Vice Chairman Trustee or director | 7.02 | $20,600 | $0 |
| Peter Borowski | Secretary-Treasurer Trustee or director | 7.46 | $20,550 | $0 |
| Janice Reimer | Assist Sec-Treasurer Trustee or director | 5.32 | $20,050 | $0 |
| Kay Werts | Director Trustee or director | 7.78 | $14,700 | $0 |
| Frank Koblisek | Director Trustee or director | 5.03 | $13,550 | $0 |
| Terry Longman | Director Trustee or director | 4.14 | $13,400 | $0 |
| Denise Mayes | Director Trustee or director | 2.74 | $11,700 | $0 |
| Beth Beachy | Director Trustee or director | 1.79 | $9,400 | $0 |
Address and contacts
- Address (IRS master file)
- 1 ENERGY WAY, BLOOMINGTON, IL 61705-6356
- In care of
- % DON TAYLOR
- Principal officer (990 for 2024)
- Don Taylor, One Energy Way, Bloomington, IL 617056356
- Signed the 990
- DON TAYLOR, President
- Phone
- (309) 662-5330
- Website
- www.cornbeltenergy.com
- Return prepared by
- Kelso Lynch PC PA
Mission
To enhance the quality of life of our members and support the communities we serve by cooperatively providing reasonably priced energy with exceptional service.
Program accomplishments
- Provide electric services to over 35,000 homes and businesses throughout 18 counties in Central Illinois including Bureau, Champaign, De Witt, Ford, Henry, Kendall, Knox, La Salle, Livingston, Logan, Macon, Marshall, McLean,Piatt, Putnam, Stark, Tazewell, and Woodford counties.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 37-0228808
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1940
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $240,916,473
- Income (IRS master file)
- $88,286,922
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $88,250,529 | $88,250,529 | $240,916,473 | XML |
| 990 | December 2023 | $91,331,713 | $91,331,713 | $224,077,494 | XML |
| 990 | December 2022 | $84,053,489 | $84,053,489 | $222,517,545 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 37-0228808).
Questions about CORN BELT ELECTRIC COOPERATIVE INC
- What is the EIN of CORN BELT ELECTRIC COOPERATIVE INC?
- The employer identification number (EIN) of CORN BELT ELECTRIC COOPERATIVE INC is 37-0228808.
- Is CORN BELT ELECTRIC COOPERATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1940.
- Are donations to CORN BELT ELECTRIC COOPERATIVE INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does CORN BELT ELECTRIC COOPERATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of CORN BELT ELECTRIC COOPERATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CORN BELT ELECTRIC COOPERATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of CORN BELT ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 names Don Taylor.
- Who are the officers and directors of CORN BELT ELECTRIC COOPERATIVE INC?
- The 990 for the year ended December 31, 2024 lists 20 people; 20 received compensation from the organization, the highest $519,416 (Don Taylor, President).
- How much revenue does CORN BELT ELECTRIC COOPERATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $88,250,529, expenses of $88,250,529 and total assets of $240,916,473 at year end.
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