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Nonprofiteer
← FALL RIVER RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by FALL RIVER RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$37,199,047
Total expenses
$36,206,598
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$36,160,572
Investment income
$851,092
Other revenue
$187,383
Total assets, end of year
$131,391,941
Total liabilities, end of year
$69,589,574
Net assets or fund balances, end of year
$61,802,367
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: ELECTRICITY SALES

    total $36,160,572 · related or exempt $36,160,572

  • 3 · Investment income

    total $860,092 · related or exempt $305,875 · excluded $554,217

  • 6a · Gross rents

    real property $43,306 · personal property $127,305

  • 6b · Less rental expenses

    real property $64,877

  • 6c · Rental income or loss

    real property -$21,571 · personal property $127,305

  • 6d · Net rental income or loss

    total $105,734 · related or exempt $105,734

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

    other assets $9,000

  • 7c · Gain or loss

    other assets -$9,000

  • 7d · Net gain or loss

    total -$9,000 · related or exempt -$9,000

  • 11a · Other revenue: OTHER NON-OPERATING INC

    total $81,649 · related or exempt $81,649

  • 11e · Other revenue, total

    $81,649

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,896,633

  • 5 · Compensation of officers, directors and key employees

    total $731,339

  • 7 · Other salaries and wages

    total $5,238,979

  • 8 · Pension plan contributions

    total $1,174,769

  • 9 · Other employee benefits

    total $989,445

  • 10 · Payroll taxes

    total $431,213

  • 11b · Fees: legal

    total $45,728

  • 11c · Fees: accounting

    total $14,136

  • 13 · Office expenses

    total $284,850

  • 16 · Occupancy

    total $533,408

  • 19 · Conferences, conventions and meetings

    total $335,279

  • 20 · Interest

    total $2,301,273

  • 22 · Depreciation, depletion and amortization

    total $4,121,066

  • 24a · Other expenses: PURCHASE POWER

    total $15,041,549 · program services $15,041,549

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $2,030,510 · program services $2,030,510

  • 24c · Other expenses: DISTRIBUTION - OPERATIONS

    total $3,812,910 · program services $3,812,910

  • 24d · Other expenses: DISTRIBUTION - MAINTENANCE

    total $1,504,211 · program services $1,504,211

  • 24e · All other expenses

    total -$5,280,700

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,666,353 · end of year $7,781,715

  • 2 · Savings and temporary cash investments

    end of year $7,000,000

  • 4 · Accounts receivable

    beginning of year $5,050,463 · end of year $6,027,138

  • 7 · Other notes and loans receivable

    beginning of year $5,171,934 · end of year $5,744,380

  • 8 · Inventories for sale or use

    beginning of year $1,492,640 · end of year $2,462,566

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,060,044 · end of year $2,293,453

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

    $157,800,545

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

    $65,958,376

  • 10c · Land, buildings and equipment, net

    beginning of year $91,770,953 · end of year $91,842,169

  • 13 · Investments: program-related

    beginning of year $5,515,943 · end of year $5,673,227

  • 15 · Other assets

    beginning of year $1,105,925 · end of year $2,567,293

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,651,048 · end of year $6,207,664

  • 23 · Secured mortgages and notes payable

    beginning of year $55,168,251 · end of year $60,920,943

  • 25 · Other liabilities

    beginning of year $2,009,656 · end of year $2,460,967

  • 29 · Capital stock, trust principal or current funds

    beginning of year $1,394,180 · end of year $1,737,430

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

    beginning of year $57,611,120 · end of year $60,064,937

Mission and programs · 2022

Mission

PROVIDE ELECTRIC SERVICE TO ITS MEMBERS AT THE LOWEST COST CONSISTENT WITH SOUND ECONOMY AND GOOD MANAGEMENT.

  • THE COMPANY CONSTRUCTS AND MAINTAINS ELECTRICAL DISTRIBUTION AND TRANSMISSION LINES AND GENERATION FACILITIES TO DELIVER ELECTRIC POWER TO INDIVIDUALS AND BUSINESSES WITHIN THE COMPANYS SERVICE AREA.

As filed on the 2022 return.

Listed in Part VII

  • Bryan Case

    GENERAL MANAGER

    Total calculated
    $345,916
    From this org
    $251,165
    From related orgs
    $0
    Other
    $94,751
    Hours/week
    52.04

    Schedule J breakdown matched by us

    Base
    $251,165
    Bonus
    not reported
    Other
    not reported
    Deferred
    $69,062
    Nontaxable benefits
    $25,689
    Filer's total
    $345,916

  • David Peterson

    MANAGER OF ENGINEERING

    Total calculated
    $248,563
    From this org
    $178,074
    From related orgs
    $0
    Other
    $70,489
    Hours/week
    41.42

    Schedule J breakdown matched by us

    Base
    $178,074
    Bonus
    not reported
    Other
    not reported
    Deferred
    $51,112
    Nontaxable benefits
    $19,377
    Filer's total
    $248,563

  • Linden Barney

    CFO

    Total calculated
    $238,048
    From this org
    $166,251
    From related orgs
    $0
    Other
    $71,797
    Hours/week
    40.13

    Schedule J breakdown matched by us

    Base
    $166,251
    Bonus
    not reported
    Other
    not reported
    Deferred
    $46,535
    Nontaxable benefits
    $25,262
    Filer's total
    $238,048

  • Hank Mackert

    LINEMAN

    Total calculated
    $220,188
    From this org
    $154,744
    From related orgs
    $0
    Other
    $65,444
    Hours/week
    45.43

    Schedule J breakdown matched by us

    Base
    $154,744
    Bonus
    not reported
    Other
    not reported
    Deferred
    $34,395
    Nontaxable benefits
    $31,049
    Filer's total
    $220,188

  • Shannon Hill

    MANAGER OF IT SERVICES

    Total calculated
    $215,696
    From this org
    $148,922
    From related orgs
    $0
    Other
    $66,774
    Hours/week
    43.9

    Schedule J breakdown matched by us

    Base
    $148,922
    Bonus
    not reported
    Other
    not reported
    Deferred
    $41,691
    Nontaxable benefits
    $25,083
    Filer's total
    $215,696

  • Brent Gamett

    MANAGER OF OPERATIONS

    Total calculated
    $215,604
    From this org
    $151,287
    From related orgs
    $0
    Other
    $64,317
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,287
    Bonus
    not reported
    Other
    not reported
    Deferred
    $40,799
    Nontaxable benefits
    $23,518
    Filer's total
    $215,604

  • Tuc Atchley

    LINEMAN

    Total calculated
    $202,168
    From this org
    $139,774
    From related orgs
    $0
    Other
    $62,394
    Hours/week
    43.51

    Schedule J breakdown matched by us

    Base
    $139,774
    Bonus
    not reported
    Other
    not reported
    Deferred
    $31,342
    Nontaxable benefits
    $31,052
    Filer's total
    $202,168

  • Dede Draper

    PRESIDENTJAN-JULDIRECTOR

    Total calculated
    $20,625
    From this org
    $20,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    8.08

  • Georg Behrens

    VICE PRESIDENTJAN-JULYPRES

    Total calculated
    $18,975
    From this org
    $18,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    12.4

  • Doug Schmier

    DIRECTOR

    Total calculated
    $18,675
    From this org
    $18,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.5

  • Jodi Stiehl

    SECRETARY-TREASURER

    Total calculated
    $17,575
    From this org
    $17,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Anna Lindstedt

    DIRECTOR

    Total calculated
    $16,275
    From this org
    $16,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.92

  • Jay Hanson

    DIRECTOR

    Total calculated
    $15,075
    From this org
    $15,075
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.92

  • Jeff Keay

    DIRECTOR

    Total calculated
    $13,575
    From this org
    $13,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.29

  • Brent Crowther

    DIRECTORVICE PRESIDENTJUL-D

    Total calculated
    $13,475
    From this org
    $13,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.27

  • Brent Robson

    DIRECTOR

    Total calculated
    $13,125
    From this org
    $13,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.33

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 · Written employment contract
  • 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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FALL RIVER ENTERPRISES INC

    C Corp · SALES OF PROPANE · ID · 100% owned · share of income $4,537,957 · share of assets $10,222,271 · controlled entity

    Directly controlled by FALL RIVER RURAL ELECTRIC

Provenance

Return type
form_990
Tax year
2022
Filed
16 August 2023
IRS schema version
2022v5.0
Source object
202342759349301304

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