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Nonprofiteer
← BROAD RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by BROAD RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$56,236,315
Total expenses
$56,298,661
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$56,116,340
Investment income
$115,854
Other revenue
$4,121
Total assets, end of year
$150,291,473
Total liabilities, end of year
$103,430,756
Net assets or fund balances, end of year
$46,860,717
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 $55,065,824 · related or exempt $55,065,824

  • 2b · Program service revenue: CAPITAL CREDITS

    total $420,862 · related or exempt $420,862

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

    total $354,319 · related or exempt $354,319

  • 2d · Program service revenue: OTHER REVENUES

    total $142,002 · related or exempt $142,002

  • 2e · Program service revenue: POLE RENTAL REVENUE

    total $133,333 · excluded $133,333

  • 3 · Investment income

    total $115,854 · excluded $115,854

  • 6a · Gross rents

    real property $4,121

  • 6c · Rental income or loss

    real property $4,121

  • 6d · Net rental income or loss

    total $4,121 · excluded $4,121

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $430,665

  • 5 · Compensation of officers, directors and key employees

    total $976,509

  • 20 · Interest

    total $2,178,148

  • 22 · Depreciation, depletion and amortization

    total $4,419,182

  • 24a · Other expenses: PURCHASED POWER

    total $35,951,538

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $4,369,613

  • 24c · Other expenses: ADMINISTRATIVE AND GENERA

    total $3,158,658

  • 24d · Other expenses: DISTRIBUTION MAINTENANCE

    total $2,684,860

  • 24e · All other expenses

    total $2,129,488

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,449,593 · end of year $6,167,704

  • 4 · Accounts receivable

    beginning of year $5,641,134 · end of year $5,806,578

  • 7 · Other notes and loans receivable

    beginning of year $213

  • 8 · Inventories for sale or use

    beginning of year $940,799 · end of year $813,197

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,309,650 · end of year $3,394,381

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

    $159,634,548

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

    $32,892,285

  • 10c · Land, buildings and equipment, net

    beginning of year $120,657,788 · end of year $126,742,263

  • 13 · Investments: program-related

    beginning of year $6,693,983 · end of year $7,356,972

  • 15 · Other assets

    beginning of year $10,418 · end of year $10,378

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,802,696 · end of year $9,046,227

  • 23 · Secured mortgages and notes payable

    beginning of year $78,082,441 · end of year $85,202,173

  • 25 · Other liabilities

    beginning of year $11,313,280 · end of year $9,182,356

  • 29 · Capital stock, trust principal or current funds

    end of year $106,080

  • 31 · Retained earnings, endowment or other funds

    beginning of year $44,505,161 · end of year $46,754,637

Mission and programs · 2023

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 2023 return.

Listed in Part VII

  • Terry W Mallard

    PRESIDENT &

    Total calculated
    $799,119
    From this org
    $652,340
    From related orgs
    $0
    Other
    $146,779
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $422,283
    Bonus
    not reported
    Other
    $230,057
    Deferred
    $118,372
    Nontaxable benefits
    $28,407
    Filer's total
    $799,119

  • Cary Johnson

    COO

    Total calculated
    $238,534
    From this org
    $160,079
    From related orgs
    $0
    Other
    $78,455
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,565
    Bonus
    $2,500
    Other
    $11,014
    Deferred
    $53,981
    Nontaxable benefits
    $24,474
    Filer's total
    $238,534

  • John B Fowler

    VP-MEMBER SE

    Total calculated
    $208,143
    From this org
    $138,117
    From related orgs
    $0
    Other
    $70,026
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,005
    Bonus
    $2,000
    Other
    $7,112
    Deferred
    $45,988
    Nontaxable benefits
    $24,038
    Filer's total
    $208,143

  • Jeffery S Humphries

    VP-EXTERNAL

    Total calculated
    $195,745
    From this org
    $128,037
    From related orgs
    $0
    Other
    $67,708
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,942
    Bonus
    $2,000
    Other
    $7,095
    Deferred
    $43,773
    Nontaxable benefits
    $23,935
    Filer's total
    $195,745

  • Andrew Allsbrook

    VP-ENGINEERI

    Total calculated
    $179,349
    From this org
    $129,680
    From related orgs
    $0
    Other
    $49,669
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,132
    Bonus
    $2,200
    Other
    $348
    Deferred
    $25,617
    Nontaxable benefits
    $24,052
    Filer's total
    $179,349

  • Norris R Fowler

    CHAIRMAN

    Total calculated
    $24,463
    From this org
    $24,463
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Bobby Foster

    TRUSTEE

    Total calculated
    $19,739
    From this org
    $19,739
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Decole Gallman

    SEC/TREAS

    Total calculated
    $19,739
    From this org
    $19,739
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • E Dewitt McCraw

    TRUSTEE

    Total calculated
    $19,739
    From this org
    $19,739
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kevin Moss

    TRUSTEE

    Total calculated
    $19,739
    From this org
    $19,739
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Mark Patterson

    TRUSTEE

    Total calculated
    $19,739
    From this org
    $19,739
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Anita P Whitney

    VICE CHAIRMA

    Total calculated
    $19,739
    From this org
    $19,739
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • William Peeler

    TRUSTEE

    Total calculated
    $19,707
    From this org
    $19,707
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • R Wayne West

    TRUSTEE

    Total calculated
    $7,936
    From this org
    $7,936
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • William Eric West

    TRUSTEE

    Total calculated
    $6,580
    From this org
    $6,580
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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
2023
Filed
21 April 2025
IRS schema version
2023v6.0
Source object
202511139349301631

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