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Nonprofiteer
← BIG SANDY RURAL ELECTRIC COOPERATIVE CORP

Form 990 for tax year 2023

Filed by BIG SANDY RURAL ELECTRIC COOPERATIVE CORP.

Totals

Total revenue
$27,536,817
Total expenses
$27,536,817
Contributions and grants received
$0
Grants paid
$3,600
Program service revenue
$26,163,817
Investment income
$436,384
Other revenue
$936,616
Total assets, end of year
$64,568,724
Total liabilities, end of year
$34,190,154
Net assets or fund balances, end of year
$30,378,570
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$27,536,817

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 $26,163,817 · related or exempt $26,163,817

  • 3 · Investment income

    total $297,572 · excluded $297,572

  • 7a · Gross sales of assets other than inventory

    other assets $138,812

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

    other assets $0

  • 7c · Gain or loss

    other assets $138,812

  • 7d · Net gain or loss

    total $138,812 · related or exempt $138,812

  • 11a · Other revenue: G&T CAPITAL CREDITS

    total $412,311 · related or exempt $412,311

  • 11b · Other revenue: JOINT USE POLE ATTACHMENT

    total $398,353 · excluded $398,353

  • 11c · Other revenue: PATRONAGE CAPITAL CREDITS

    total $123,024 · related or exempt $123,024

  • 11d · All other revenue

    total $2,928 · related or exempt $2,928

  • 11e · Other revenue, total

    $936,616

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,600

  • 4 · Benefits paid to or for members

    total -$561,901

  • 5 · Compensation of officers, directors and key employees

    total $309,762

  • 7 · Other salaries and wages

    total $2,951,359

  • 8 · Pension plan contributions

    total $521,994

  • 9 · Other employee benefits

    total $436,414

  • 10 · Payroll taxes

    total $729,759

  • 11b · Fees: legal

    total $78,352

  • 11c · Fees: accounting

    total $20,600

  • 13 · Office expenses

    total $80,898

  • 20 · Interest

    total $955,078

  • 22 · Depreciation, depletion and amortization

    total $2,629,280

  • 23 · Insurance

    total $66,689

  • 24a · Other expenses: COST OF POWER

    total $17,827,633

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $2,426,456

  • 24c · Other expenses: ADMINISTRATIVE AND GENE

    total $1,607,355

  • 24d · Other expenses: DISTRIBUTION - OPERATIO

    total $1,371,665

  • 24e · All other expenses

    total -$3,918,176

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $990,751 · end of year $1,834,428

  • 4 · Accounts receivable

    beginning of year $5,669,294 · end of year $3,226,456

  • 7 · Other notes and loans receivable

    end of year $287,838

  • 8 · Inventories for sale or use

    beginning of year $474,246 · end of year $621,849

  • 9 · Prepaid expenses and deferred charges

    beginning of year $22,480 · end of year $17,100

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

    $63,863,072

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

    $29,195,295

  • 10c · Land, buildings and equipment, net

    beginning of year $33,435,596 · end of year $34,667,777

  • 13 · Investments: program-related

    beginning of year $22,636,887 · end of year $23,128,246

  • 15 · Other assets

    beginning of year $1,003,949 · end of year $785,030

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,881,210 · end of year $2,222,387

  • 23 · Secured mortgages and notes payable

    beginning of year $24,352,436 · end of year $28,009,901

  • 25 · Other liabilities

    beginning of year $7,567,787 · end of year $3,957,866

  • 29 · Capital stock, trust principal or current funds

    beginning of year $225,835 · end of year $225,630

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

    beginning of year -$1,980,861 · end of year -$409,026

  • 31 · Retained earnings, endowment or other funds

    beginning of year $31,186,796 · end of year $30,561,966

Mission and programs · 2023

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,636 CONSUMERS MONTHLY.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,636 CONSUMERS MONTHLY.

    Expenses $27,536,817 · Grants $3,600 · Revenue $26,840,892

As filed on the 2023 return.

Listed in Part VII

  • Danny Wallen

    CHAIRMAN

    Total calculated
    $22,840
    From this org
    $22,840
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Greg Davis

    VICE CHAIRMAN

    Total calculated
    $16,374
    From this org
    $16,374
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • James Vanhoose

    SEC-TREAS

    Total calculated
    $15,275
    From this org
    $15,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jimmie McKenzie

    DIRECTOR

    Total calculated
    $15,149
    From this org
    $15,149
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Gary Francis

    DIRECTOR

    Total calculated
    $21,704
    From this org
    $21,704
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jason Holbrook

    DIRECTOR

    Total calculated
    $15,247
    From this org
    $15,247
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Velma May

    DIRECTOR

    Total calculated
    $14,743
    From this org
    $14,743
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Bruce A Davis

    PRESIDENT/CEO

    Total calculated
    $188,430
    From this org
    $120,223
    From related orgs
    $0
    Other
    $68,207
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,223
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $68,207
    Filer's total
    $188,430

  • Jeffery Prater

    VP OF OPERATIONS

    Total calculated
    $154,797
    From this org
    $102,860
    From related orgs
    $0
    Other
    $51,937
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $102,860
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $51,937
    Filer's total
    $154,797

  • John Harrison

    SUPERVISOR

    Total calculated
    $182,887
    From this org
    $160,201
    From related orgs
    $0
    Other
    $22,686
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,201
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,686
    Filer's total
    $182,887

  • Donald Holbrook

    SUPERVISOR

    Total calculated
    $142,354
    From this org
    $129,594
    From related orgs
    $0
    Other
    $12,760
    Hours/week
    40

  • William Jarrell

    SUPERVISOR

    Total calculated
    $137,118
    From this org
    $126,948
    From related orgs
    $0
    Other
    $10,170
    Hours/week
    40

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 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.

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.

  • BIG SANDY FORESTRY LLC

    ROW CLEARING · KY · income $2,928 · assets $290,766

    Directly controlled by BIG SANDY RURAL ELECTRIC COOPERATIVE CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
7 October 2024
IRS schema version
2023v5.1
Source object
202422889349300317

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