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Nonprofiteer
← BROAD RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by BROAD RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$56,431,065
Total expenses
$56,571,901
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$56,294,145
Investment income
$89,127
Other revenue
$47,793
Total assets, end of year
$143,703,578
Total liabilities, end of year
$99,198,417
Net assets or fund balances, end of year
$44,505,161
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 $55,557,994 · related or exempt $55,557,994

  • 2b · Program service revenue: CAPITAL CREDITS

    total $614,989 · related or exempt $614,989

  • 2c · Program service revenue: POLE RENTAL REVENUE

    total $121,162 · excluded $121,162

  • 3 · Investment income

    total $89,127 · excluded $89,127

  • 6a · Gross rents

    real property $81,682

  • 6c · Rental income or loss

    real property $81,682

  • 6d · Net rental income or loss

    total $81,682 · excluded $81,682

  • 11a · Other revenue: OTHER ELECTRIC REVENUE

    total -$33,889 · related or exempt -$33,889

  • 11e · Other revenue, total

    -$33,889

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,919,579

  • 5 · Compensation of officers, directors and key employees

    total $701,742

  • 20 · Interest

    total $1,974,340

  • 22 · Depreciation, depletion and amortization

    total $3,839,233

  • 24a · Other expenses: PURCHASED POWER

    total $35,423,167

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $4,012,639

  • 24c · Other expenses: DISTRIBUTION MAINTENANCE

    total $2,632,178

  • 24d · Other expenses: ADMINISTRATIVE AND GENERA

    total $2,348,298

  • 24e · All other expenses

    total $2,720,725

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,337,257 · end of year $6,449,593

  • 4 · Accounts receivable

    beginning of year $3,980,167 · end of year $5,641,134

  • 7 · Other notes and loans receivable

    beginning of year $2,828 · end of year $213

  • 8 · Inventories for sale or use

    beginning of year $509,012 · end of year $940,799

  • 9 · Prepaid expenses and deferred charges

    beginning of year $212,771 · end of year $3,309,650

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

    $150,082,228

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

    $29,424,440

  • 10c · Land, buildings and equipment, net

    beginning of year $111,066,935 · end of year $120,657,788

  • 13 · Investments: program-related

    beginning of year $6,288,336 · end of year $6,693,983

  • 15 · Other assets

    beginning of year $10,418 · end of year $10,418

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,585,640 · end of year $9,802,696

  • 23 · Secured mortgages and notes payable

    beginning of year $69,544,570 · end of year $78,082,441

  • 25 · Other liabilities

    beginning of year $12,372,405 · end of year $11,313,280

  • 31 · Retained earnings, endowment or other funds

    beginning of year $40,905,109 · end of year $44,505,161

Mission and programs · 2022

Mission

YOUR COOPERATIVE IS COMMITTED TO THE PROVISION OF SAFE, RELIABLE AND REASONABLY PRICED ELECTRIC AND OTHER ENERGY RELATED SERVICES WHILE IMPROVING THE COMMUNITIES WE SERVE.

  • YOUR COOPERATIVE IS COMMITTED TO THE PROVISION OF SAFE, RELIABLE AND REASONABLY PRICED ELECTRIC AND OTHER ENERGY RELATED SERVICES WHILE IMPROVING THE COMMUNITIES WE SERVE.

As filed on the 2022 return.

Listed in Part VII

  • Terry W Mallard

    PRESIDENT &

    Total calculated
    $570,191
    From this org
    $443,668
    From related orgs
    $0
    Other
    $126,523
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $361,322
    Bonus
    $42,810
    Other
    $39,536
    Deferred
    $104,615
    Nontaxable benefits
    $21,908
    Filer's total
    $570,191

  • Cary Johnson

    VP-OPERATION

    Total calculated
    $236,954
    From this org
    $169,120
    From related orgs
    $0
    Other
    $67,834
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,413
    Bonus
    $17,481
    Other
    $13,226
    Deferred
    $47,023
    Nontaxable benefits
    $20,811
    Filer's total
    $236,954

  • John B Fowler

    VP-MEMBER SE

    Total calculated
    $207,266
    From this org
    $142,923
    From related orgs
    $0
    Other
    $64,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,325
    Bonus
    $14,572
    Other
    $4,026
    Deferred
    $41,628
    Nontaxable benefits
    $22,715
    Filer's total
    $207,266

  • Jeffery S Humphries

    VP-ECONOMIC

    Total calculated
    $199,427
    From this org
    $137,829
    From related orgs
    $0
    Other
    $61,598
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $116,816
    Bonus
    $13,871
    Other
    $7,142
    Deferred
    $38,978
    Nontaxable benefits
    $22,620
    Filer's total
    $199,427

  • Kenny Griswold

    VP-INFORMATI

    Total calculated
    $178,755
    From this org
    $119,702
    From related orgs
    $0
    Other
    $59,053
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $106,320
    Bonus
    $12,600
    Other
    $782
    Deferred
    $36,753
    Nontaxable benefits
    $22,300
    Filer's total
    $178,755

  • Andrew Allsbrook

    VP-ENGINEERI

    Total calculated
    $178,715
    From this org
    $134,795
    From related orgs
    $0
    Other
    $43,920
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,930
    Bonus
    $13,552
    Other
    $313
    Deferred
    $20,955
    Nontaxable benefits
    $22,965
    Filer's total
    $178,715

  • Norris R Fowler

    CHAIRMAN

    Total calculated
    $20,714
    From this org
    $20,714
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • E Dewitt McCraw

    TRUSTEE

    Total calculated
    $18,794
    From this org
    $18,794
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Mark Patterson

    TRUSTEE

    Total calculated
    $18,523
    From this org
    $18,523
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • R Wayne West

    TRUSTEE

    Total calculated
    $18,267
    From this org
    $18,267
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Decole Gallman

    SEC/TREAS

    Total calculated
    $14,394
    From this org
    $14,394
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kevin Moss

    TRUSTEE

    Total calculated
    $12,123
    From this org
    $12,123
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Bobby Foster

    TRUSTEE

    Total calculated
    $10,523
    From this org
    $10,523
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Anita P Whitney

    VICE CHAIRMA

    Total calculated
    $10,123
    From this org
    $10,123
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • William Peeler

    TRUSTEE

    Total calculated
    $8,090
    From this org
    $8,090
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

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 · 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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
6 November 2023
IRS schema version
2022v5.0
Source object
202343119349302579

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