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Nonprofiteer
← BLUE RIDGE ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by BLUE RIDGE ELECTRIC COOPERATIVE.

Totals

Total revenue
$208,026,506
Total expenses
$208,026,506
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$207,710,853
Investment income
$185,271
Other revenue
$130,382
Total assets, end of year
$580,061,882
Total liabilities, end of year
$491,191,575
Net assets or fund balances, end of year
$88,870,307
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 $201,865,998 · related or exempt $201,865,998

  • 2b · Program service revenue: INVESTMENTS IN ASSOC. CAPITAL

    total $2,945,198 · related or exempt $2,945,198

  • 2c · Program service revenue: OTHER ELECTRIC REVENUES

    total $1,162,174 · related or exempt $1,162,174

  • 2d · Program service revenue: POLE RENTAL REVENUE

    total $1,033,363 · excluded $1,033,363

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

    total $704,120 · related or exempt $704,120

  • 3 · Investment income

    total $185,271 · excluded $185,271

  • 11a · Other revenue: GAIN/LOSS ON DIST OF PROPERTY

    total $130,382 · related or exempt $130,382

  • 11e · Other revenue, total

    $130,382

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $13,016,641

  • 5 · Compensation of officers, directors and key employees

    total $1,055,333

  • 20 · Interest

    total $14,797,339

  • 22 · Depreciation, depletion and amortization

    total $18,831,889

  • 24a · Other expenses: PURCHASED POWER

    total $99,927,329

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $24,133,388

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $14,045,110

  • 24d · Other expenses: ADMINISTRATIVE & GENERAL

    total $9,110,801

  • 24e · All other expenses

    total $13,108,676

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,789,017 · end of year $10,007,407

  • 4 · Accounts receivable

    beginning of year $23,685,104 · end of year $26,265,691

  • 7 · Other notes and loans receivable

    beginning of year $1,471,914 · end of year $1,538,746

  • 8 · Inventories for sale or use

    beginning of year $6,625,215 · end of year $9,143,827

  • 9 · Prepaid expenses and deferred charges

    beginning of year $878,121 · end of year $1,508,543

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

    $681,563,914

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

    $178,627,782

  • 10c · Land, buildings and equipment, net

    beginning of year $454,437,906 · end of year $502,936,132

  • 13 · Investments: program-related

    beginning of year $24,263,251 · end of year $28,639,604

  • 15 · Other assets

    beginning of year $21,066 · end of year $21,932

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,450,274 · end of year $55,535,354

  • 23 · Secured mortgages and notes payable

    beginning of year $365,808,769 · end of year $411,345,961

  • 25 · Other liabilities

    beginning of year $24,060,299 · end of year $24,310,260

  • 29 · Capital stock, trust principal or current funds

    beginning of year $350,141 · end of year $356,591

  • 31 · Retained earnings, endowment or other funds

    beginning of year $75,502,111 · end of year $88,513,716

Mission and programs · 2024

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.

As filed on the 2024 return.

Listed in Part VII

  • James Lovinggood

    PRESIDENT &

    Total calculated
    $655,366
    From this org
    $544,305
    From related orgs
    $0
    Other
    $111,061
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $445,145
    Bonus
    $28,440
    Other
    $70,720
    Deferred
    $107,629
    Nontaxable benefits
    $3,432
    Filer's total
    $655,366

  • David Collins

    VP FINANCE

    Total calculated
    $447,589
    From this org
    $352,405
    From related orgs
    $0
    Other
    $95,184
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $300,846
    Bonus
    $7,239
    Other
    $44,320
    Deferred
    $92,376
    Nontaxable benefits
    $2,808
    Filer's total
    $447,589

  • Zach Hinton

    VP OF BROADB

    Total calculated
    $412,852
    From this org
    $324,083
    From related orgs
    $0
    Other
    $88,769
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $280,821
    Bonus
    $28,222
    Other
    $15,040
    Deferred
    $86,129
    Nontaxable benefits
    $2,640
    Filer's total
    $412,852

  • Denise McCormick

    VP MEMBER SE

    Total calculated
    $406,471
    From this org
    $318,994
    From related orgs
    $0
    Other
    $87,477
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $278,154
    Bonus
    $6,047
    Other
    $34,793
    Deferred
    $84,669
    Nontaxable benefits
    $2,808
    Filer's total
    $406,471

  • Mark Waters

    VP ENGINEERI

    Total calculated
    $397,227
    From this org
    $307,542
    From related orgs
    $0
    Other
    $89,685
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $270,946
    Bonus
    $27,890
    Other
    $8,706
    Deferred
    $84,477
    Nontaxable benefits
    $5,208
    Filer's total
    $397,227

  • Terrel Ballenger

    VP OF COMMUN

    Total calculated
    $343,745
    From this org
    $260,295
    From related orgs
    $0
    Other
    $83,450
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $251,042
    Bonus
    $1,680
    Other
    $7,573
    Deferred
    $78,242
    Nontaxable benefits
    $5,208
    Filer's total
    $343,745

  • Jimmy Lee Dodgens

    TRUSTEE

    Total calculated
    $56,973
    From this org
    $56,973
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joel R Davis

    TRUSTEE

    Total calculated
    $53,092
    From this org
    $53,092
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Len Talley

    CHAIRMAN

    Total calculated
    $52,631
    From this org
    $52,631
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mendel Stone

    VICE CHAIRMA

    Total calculated
    $50,973
    From this org
    $50,973
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William G Elrod

    TRUSTEE

    Total calculated
    $48,473
    From this org
    $48,473
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kenneth Southerlin

    TRUSTEE

    Total calculated
    $48,348
    From this org
    $48,348
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • J Spencer Dalton

    TRUSTEE

    Total calculated
    $42,794
    From this org
    $42,794
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William Anderson

    TREASURER

    Total calculated
    $27,298
    From this org
    $27,298
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Franklin M Looper Jr

    SECRETARY

    Total calculated
    $19,385
    From this org
    $19,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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 · Form 990 of other organizations
  • 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.

  • UPCOUNTRY FIBER LLC

    BROADBAND · SC

    Directly controlled by BLUE RIDGE

Related corporations and trusts

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

  • BLUE RIDGE MANAGEMENT INC

    C CORP · MGMT SVCS · SC · 100% owned · share of assets $1,000

    Directly controlled by BRECI

  • BR MANAGEMENT INC

    C CORP · SECURITY S · SC · 100% owned · share of assets $1,000

    Directly controlled by BRMI

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.0
Source object
202513109349303146

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