Skip to content
Nonprofiteer
← BLUE RIDGE ELECTRIC COOPERATIVE

Form 990 for tax year 2022

Filed by BLUE RIDGE ELECTRIC COOPERATIVE.

Totals

Total revenue
$180,062,478
Total expenses
$180,062,478
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$179,854,626
Investment income
$175,610
Other revenue
$32,242
Total assets, end of year
$468,943,378
Total liabilities, end of year
$382,186,316
Net assets or fund balances, end of year
$86,757,062
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 $175,214,514 · related or exempt $175,214,514

  • 2b · Program service revenue: OTHER ELECTRIC REVENUES

    total $1,396,613 · related or exempt $1,396,613

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

    total $1,220,069 · related or exempt $1,220,069

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

    total $1,019,711 · related or exempt $1,019,711

  • 2e · Program service revenue: POLE RENTAL REVENUE

    total $1,003,719 · excluded $1,003,719

  • 3 · Investment income

    total $175,610 · excluded $175,610

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

    total $32,242 · related or exempt $32,242

  • 11e · Other revenue, total

    $32,242

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,608,356

  • 5 · Compensation of officers, directors and key employees

    total $905,988

  • 20 · Interest

    total $9,510,697

  • 22 · Depreciation, depletion and amortization

    total $14,861,575

  • 24a · Other expenses: PURCHASED POWER

    total $96,638,011

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $20,035,012

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $11,985,724

  • 24d · Other expenses: ADMINISTRATIVE & GENERAL

    total $9,480,624

  • 24e · All other expenses

    total $13,036,491

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,344,258 · end of year $14,191,754

  • 4 · Accounts receivable

    beginning of year $20,568,630 · end of year $21,602,673

  • 7 · Other notes and loans receivable

    beginning of year $1,318,936 · end of year $1,335,980

  • 8 · Inventories for sale or use

    beginning of year $6,352,343 · end of year $8,940,183

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,180,050 · end of year $1,711,458

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

    $545,558,762

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

    $150,859,736

  • 10c · Land, buildings and equipment, net

    beginning of year $344,728,890 · end of year $394,699,026

  • 13 · Investments: program-related

    beginning of year $20,237,534 · end of year $21,847,483

  • 15 · Other assets

    beginning of year $19,227 · end of year $4,614,821

  • 17 · Accounts payable and accrued expenses

    beginning of year $52,732,842 · end of year $71,332,421

  • 23 · Secured mortgages and notes payable

    beginning of year $239,367,495 · end of year $286,972,368

  • 25 · Other liabilities

    beginning of year $28,058,036 · end of year $23,881,527

  • 29 · Capital stock, trust principal or current funds

    beginning of year $332,925 · end of year $342,635

  • 31 · Retained earnings, endowment or other funds

    beginning of year $80,258,570 · end of year $86,414,427

Mission and programs · 2022

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 2022 return.

Listed in Part VII

  • James Lovinggood

    PRESIDENT &

    Total calculated
    $527,568
    From this org
    $432,168
    From related orgs
    $0
    Other
    $95,400
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $377,012
    Bonus
    $10,252
    Other
    $44,904
    Deferred
    $91,968
    Nontaxable benefits
    $3,432
    Filer's total
    $527,568

  • David Collins

    VP FINANCE

    Total calculated
    $389,290
    From this org
    $306,577
    From related orgs
    $0
    Other
    $82,713
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $268,692
    Bonus
    $2,140
    Other
    $35,745
    Deferred
    $79,905
    Nontaxable benefits
    $2,808
    Filer's total
    $389,290

  • Samuel McMillan

    VP OPERATION

    Total calculated
    $383,064
    From this org
    $303,477
    From related orgs
    $0
    Other
    $79,587
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $265,049
    Bonus
    $9,816
    Other
    $28,612
    Deferred
    $78,136
    Nontaxable benefits
    $1,451
    Filer's total
    $383,064

  • Denise McCormick

    VP MEMBER SE

    Total calculated
    $362,353
    From this org
    $287,411
    From related orgs
    $0
    Other
    $74,942
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $244,423
    Bonus
    $7,802
    Other
    $35,186
    Deferred
    $72,134
    Nontaxable benefits
    $2,808
    Filer's total
    $362,353

  • Mark Waters

    VP ENGINEERI

    Total calculated
    $317,083
    From this org
    $242,706
    From related orgs
    $0
    Other
    $74,377
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $227,133
    Bonus
    $8,513
    Other
    $7,060
    Deferred
    $68,933
    Nontaxable benefits
    $5,444
    Filer's total
    $317,083

  • Terry Ballenger

    VP COMMUNICA

    Total calculated
    $307,603
    From this org
    $234,270
    From related orgs
    $0
    Other
    $73,333
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $219,792
    Bonus
    $1,640
    Other
    $12,838
    Deferred
    $68,125
    Nontaxable benefits
    $5,208
    Filer's total
    $307,603

  • Jimmy Lee Dodgens

    TRUSTEE

    Total calculated
    $55,503
    From this org
    $55,503
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • J Spencer Dalton

    CHAIRMAN

    Total calculated
    $54,585
    From this org
    $54,585
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joel R Davis

    TRUSTEE

    Total calculated
    $52,585
    From this org
    $52,585
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William G Elrod

    TRUSTEE

    Total calculated
    $50,202
    From this org
    $50,202
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Len Talley

    VICE CHAIRMA

    Total calculated
    $49,960
    From this org
    $49,960
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mendel Stone

    TREASURER

    Total calculated
    $48,303
    From this org
    $48,303
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kenneth Southerlin

    TRUSTEE

    Total calculated
    $47,678
    From this org
    $47,678
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Franklin M Looper Jr

    SECRETARY

    Total calculated
    $17,968
    From this org
    $17,968
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ben G Bolt

    TRUSTEE

    Total calculated
    $1,636
    From this org
    $1,636
    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
2022
Filed
19 April 2023
IRS schema version
2022v5.0
Source object
202321229349301037

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.