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Nonprofiteer
← LITTLE RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by LITTLE RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$39,237,867
Total expenses
$39,012,429
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$39,037,066
Investment income
$200,801
Other revenue
$0
Total assets, end of year
$87,262,927
Total liabilities, end of year
$54,940,193
Net assets or fund balances, end of year
$32,322,734
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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: ELECTRIC REVENUE

    total $38,564,262 · related or exempt $38,564,262

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

    total $291,438 · related or exempt $291,438

  • 2c · Program service revenue: OTHER CAPITAL CREDITS

    total $85,866 · related or exempt $85,866

  • 2d · Program service revenue: POLE RENTAL

    total $70,863 · excluded $70,863

  • 2e · Program service revenue: OTHER

    total $24,637 · related or exempt $24,637

  • 3 · Investment income

    total $200,801 · excluded $200,801

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,583,681

  • 5 · Compensation of officers, directors and key employees

    total $498,687

  • 13 · Office expenses

    total $345,113

  • 20 · Interest

    total $1,300,124

  • 22 · Depreciation, depletion and amortization

    total $2,332,240

  • 24a · Other expenses: PURCHASED POWER

    total $21,391,147

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $2,866,477

  • 24c · Other expenses: DISTRIBUTION MAINTENANCE

    total $2,481,260

  • 24d · Other expenses: ADMIN. & GENERAL EXP.

    total $1,335,109

  • 24e · All other expenses

    total $1,878,591

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,351,045 · end of year $5,286,927

  • 4 · Accounts receivable

    beginning of year $4,161,224 · end of year $4,892,995

  • 8 · Inventories for sale or use

    beginning of year $1,112,705 · end of year $1,106,368

  • 9 · Prepaid expenses and deferred charges

    beginning of year $280,472 · end of year $207,893

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

    $92,423,368

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

    $26,856,848

  • 10c · Land, buildings and equipment, net

    beginning of year $63,645,426 · end of year $65,566,520

  • 13 · Investments: program-related

    beginning of year $4,912,685 · end of year $5,233,369

  • 15 · Other assets

    beginning of year $3,023,780 · end of year $4,968,855

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,461,360 · end of year $2,853,047

  • 23 · Secured mortgages and notes payable

    beginning of year $45,958,320 · end of year $48,848,742

  • 25 · Other liabilities

    beginning of year $1,742,025 · end of year $3,238,404

  • 29 · Capital stock, trust principal or current funds

    beginning of year $114,075 · end of year $116,495

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,211,557 · end of year $32,206,239

Mission and programs · 2025

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

As filed on the 2025 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Travis Burriss

    PRESIDENT

    Total calculated
    $20,250
    From this org
    $20,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.85

  • Terry Ricketts

    VICE PRESIDE

    Total calculated
    $19,800
    From this org
    $19,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.31

  • Patsy Wilson

    SECRETARY/TR

    Total calculated
    $16,200
    From this org
    $16,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    11.54

  • Wayne Erwin

    TRUSTEE

    Total calculated
    $16,650
    From this org
    $16,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    10.19

  • Michael Johnson

    TRUSTEE: JAN

    Total calculated
    $4,050
    From this org
    $4,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.38

  • Mike Price

    TRUSTEE

    Total calculated
    $6,750
    From this org
    $6,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.31

  • Sandy Campbell

    TRUSTEE

    Total calculated
    $23,400
    From this org
    $23,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.62

  • Jessie Hammonds

    TRUSTEE: SEP

    Total calculated
    $3,600
    From this org
    $3,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.62

  • Chad Stone

    CEO

    Total calculated
    $387,987
    From this org
    $313,060
    From related orgs
    $0
    Other
    $74,927
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $299,310
    Bonus
    $4,419
    Other
    $9,331
    Deferred
    $64,165
    Nontaxable benefits
    $10,762
    Filer's total
    $387,987

  • Stephen Busbee

    OPERATION SE

    Total calculated
    $169,022
    From this org
    $122,068
    From related orgs
    $0
    Other
    $46,954
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $114,410
    Bonus
    $1,638
    Other
    $6,020
    Deferred
    $40,133
    Nontaxable benefits
    $6,821
    Filer's total
    $169,022

  • Bret Timmerman

    ROW & LINE I

    Total calculated
    $174,575
    From this org
    $123,101
    From related orgs
    $0
    Other
    $51,474
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $120,459
    Bonus
    $1,535
    Other
    $1,107
    Deferred
    $37,629
    Nontaxable benefits
    $13,845
    Filer's total
    $174,575

  • Michael Hall

    VP OF ENG. S

    Total calculated
    $178,915
    From this org
    $136,629
    From related orgs
    $0
    Other
    $42,286
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $125,416
    Bonus
    $4,830
    Other
    $6,383
    Deferred
    $42,286
    Nontaxable benefits
    not reported
    Filer's total
    $178,915

  • Steven Hughes

    VP OF OPERAT

    Total calculated
    $194,277
    From this org
    $146,861
    From related orgs
    $0
    Other
    $47,416
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $138,972
    Bonus
    $2,053
    Other
    $5,836
    Deferred
    $41,416
    Nontaxable benefits
    $6,000
    Filer's total
    $194,277

  • Tecie New

    VP OF FIN. &

    Total calculated
    $196,063
    From this org
    $147,083
    From related orgs
    $0
    Other
    $48,980
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,569
    Bonus
    $5,053
    Other
    $461
    Deferred
    $48,980
    Nontaxable benefits
    not reported
    Filer's total
    $196,063

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

  • 3 · Compensation committee
  • 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

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2025
Filed
21 February 2026
IRS schema version
2025v4.0
Source object
202600579349300905

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