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Nonprofiteer
← BARRY ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by BARRY ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$25,547,679
Total expenses
$22,426,323
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$24,033,898
Investment income
$240,739
Other revenue
$1,273,042
Total assets, end of year
$109,953,651
Total liabilities, end of year
$73,659,721
Net assets or fund balances, end of year
$36,293,930
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: SALES OF ELECTRIC ENERGY

    total $19,550,101 · related or exempt $19,550,101

  • 2b · Program service revenue: BTS LLC REVENUE

    total $3,429,535 · related or exempt $3,379,462 · unrelated business $50,073

  • 2c · Program service revenue: G&T CAPITAL CREDITS

    total $807,582 · related or exempt $807,582

  • 2d · Program service revenue: OTHER REVENUE

    total $113,608 · related or exempt $113,608

  • 2e · Program service revenue: OTHER CAPITAL CREDITS

    total $109,691 · related or exempt $109,691

  • 2f · All other program service revenue

    total $23,381 · related or exempt $23,381

  • 3 · Investment income

    total $235,586 · unrelated business $1,683 · excluded $233,903

  • 6a · Gross rents

    real property $2,609,388

  • 6b · Less rental expenses

    real property $1,452,295

  • 6c · Rental income or loss

    real property $1,157,093

  • 6d · Net rental income or loss

    total $1,157,093 · related or exempt $1,157,093

  • 7a · Gross sales of assets other than inventory

    other assets $5,682

  • 7b · Less cost or other basis and sales expenses

    other assets $529

  • 7c · Gain or loss

    other assets $5,153

  • 7d · Net gain or loss

    total $5,153 · excluded $5,153

  • 11a · Other revenue: OTHER REVENUE

    total $115,784 · related or exempt $115,784

  • 11b · Other revenue: A-PRIME LLC K-1 INCOME

    total $165 · excluded $165

  • 11e · Other revenue, total

    $115,949

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $208,558

  • 7 · Other salaries and wages

    total $1,358,491

  • 9 · Other employee benefits

    total $30,114

  • 11g · Fees: other

    total $21,058

  • 12 · Advertising and promotion

    total $161,805

  • 13 · Office expenses

    total $216,461

  • 14 · Information technology

    total $279,402

  • 16 · Occupancy

    total $50,853

  • 20 · Interest

    total $396,082

  • 21 · Payments to affiliates

    total $11,193,698

  • 22 · Depreciation, depletion and amortization

    total $3,657,555

  • 23 · Insurance

    total $101,922

  • 24a · Other expenses: MISCELLANEOUS OPERATING

    total $2,657,063

  • 24b · Other expenses: BTS LLC FIBER EXPENSES

    total $2,088,555

  • 24c · Other expenses: SOLAR EXPENSES

    total $4,706

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,352,782 · end of year $1,333,441

  • 2 · Savings and temporary cash investments

    beginning of year $4,781,102 · end of year $2,029,471

  • 4 · Accounts receivable

    beginning of year $1,820,009 · end of year $1,748,740

  • 8 · Inventories for sale or use

    beginning of year $2,189,322 · end of year $2,002,906

  • 9 · Prepaid expenses and deferred charges

    beginning of year $240,679 · end of year $176,498

  • 10a · Land, buildings and equipment: cost or other basis

    $98,446,237

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,253,752

  • 10c · Land, buildings and equipment, net

    beginning of year $84,444,558 · end of year $87,192,485

  • 13 · Investments: program-related

    beginning of year $12,920,966 · end of year $13,391,399

  • 15 · Other assets

    beginning of year $2,837,875 · end of year $2,078,711

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,772,189 · end of year $2,579,069

  • 19 · Deferred revenue

    beginning of year $1,805,098 · end of year $1,760,981

  • 23 · Secured mortgages and notes payable

    beginning of year $69,216,428 · end of year $66,299,523

  • 25 · Other liabilities

    beginning of year $2,943,831 · end of year $3,020,148

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $33,849,747 · end of year $36,293,930

Mission and programs · 2023

Mission

BARRY ELECTRIC WAS FORMED IN 1946 TO PROVIDE ELECTRIC SERVICE TO COOPERATIVE MEMBERS IN RURAL BARRY AND MCDONALD COUNTIES IN MO WHERE IT WAS NOT PROFITABLE ENOUGH FOR INVESTOR OWNED UTILITY COMPANIES. BEC CURRENTLY PROVIDES SERVICE TO APPROXIMATELY 10,000 MEMBERS.

Activities or mission (Part I)

SEE SCHEDULE OBARRY ELECTRIC WAS FORMED TO PROVIDE UTILITY SERVICES TO COOPERATIVE MEMBERS WHERE IT WAS NOT PROFITABLE ENOUGH FOR INVESTOR OWNED UTILITIES TO PROVIDE SERVICE.

  • BARRY ELECTRIC COOPERATIVE PROVIDES ELECTRIC SERVICE TOAPPROXIMATELY 10,000 MEMBERS WITHIN APPROXIMATELY 1,100 MILES.BARRY ELECTRIC SERVES PORTIONS OF THE SOUTHERN HALF OF BARRYCOUNTY AS WELL AS A FEW MEMBERS IN MCDONALD COUNTY INCLUDING THETOWNS OF CASSVILLE, EXETER, JENKINS, SELIGMAN, WASHBURN, WHEATONAND THE SURROUNDING RURAL AREAS.

As filed on the 2023 return.

Listed in Part VII

  • David Cupps

    PRESIDENT

    Total calculated
    $5,250
    From this org
    $5,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kenyon Atkinson

    VICE PRESIDENT

    Total calculated
    $1,950
    From this org
    $1,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Lewis Royer

    SEC/TREASURER

    Total calculated
    $1,950
    From this org
    $1,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • David Dalton

    DIRECTOR

    Total calculated
    $1,950
    From this org
    $1,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jason O'Neill

    DIRECTOR

    Total calculated
    $1,650
    From this org
    $1,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jason Hudson

    DIRECTOR

    Total calculated
    $2,300
    From this org
    $2,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Ronnie Thomas

    DIRECTOR

    Total calculated
    $1,650
    From this org
    $1,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Connie Butler

    DIRECTOR

    Total calculated
    $1,500
    From this org
    $1,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Aubrey Wolf

    DIRECTOR

    Total calculated
    $1,950
    From this org
    $1,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jennifer McBroom

    CEO/GEN MGR

    Total calculated
    $214,908
    From this org
    $173,543
    From related orgs
    $0
    Other
    $41,365
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $173,543
    Bonus
    $0
    Other
    $0
    Deferred
    $26,500
    Nontaxable benefits
    $14,865
    Filer's total
    $214,908

  • Heyley Hudson

    CFO

    Total calculated
    $112,526
    From this org
    $88,139
    From related orgs
    $0
    Other
    $24,387
    Hours/week
    50

  • David Newman

    LINEMAN

    Total calculated
    $131,414
    From this org
    $114,283
    From related orgs
    $0
    Other
    $17,131
    Hours/week
    50

  • Brian Robbins

    LINEMAN

    Total calculated
    $139,043
    From this org
    $114,656
    From related orgs
    $0
    Other
    $24,387
    Hours/week
    50

  • Timothy Thompson

    LINEMAN

    Total calculated
    $125,148
    From this org
    $116,516
    From related orgs
    $0
    Other
    $8,632
    Hours/week
    50

  • Michael Cotton

    LINEMAN

    Total calculated
    $123,784
    From this org
    $106,653
    From related orgs
    $0
    Other
    $17,131
    Hours/week
    50

  • Alan McNabb

    LINEMAN

    Total calculated
    $118,445
    From this org
    $109,813
    From related orgs
    $0
    Other
    $8,632
    Hours/week
    50

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
THE COOPERATIVE PAYS FOR MEMBERSHIP DUES TO THE ROTARY CLUB OF CASSVILLE FOR JENNIFER MCBROOM. THE AMOUNT IS NOT INCLUDED IN HER W-2 WAGES AS IT IS A CORPORATE MEMBERSHIP AND IS USED ONLY FOR BUSINESS PURPOSES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BARRY TECHNOLOGY SERVICES LLC

    EXCESS FIBER SALES · MO · income $356,674 · assets $669,952

    Directly controlled by BARRY ELECTRIC

Provenance

Return type
form_990
Tax year
2023
Filed
26 September 2024
IRS schema version
2023v5.1
Source object
202442999349301504

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