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← BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND

Form 990 for tax year 2023

Filed by BRAZOS ELECTRIC RATE PAYER HARDSHIP FUND.

Totals

Total revenue
$2,373,294
Total expenses
$723,095
Contributions and grants received
$0
Grants paid
$221,952
Program service revenue
$0
Investment income
$2,373,294
Other revenue
$0
Total assets, end of year
$143,561,037
Total liabilities, end of year
$99,500
Net assets or fund balances, end of year
$143,461,537
Program services expenses (Part IX)
$542,715
Management and general expenses
$180,380
Fundraising expenses
$0
Program service expenses (Part III)
$542,715

Program services were 75.1% 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.

  • 3 · Investment income

    total $2,203,553 · excluded $2,203,553

  • 7a · Gross sales of assets other than inventory

    securities $169,741

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

    securities $0

  • 7c · Gain or loss

    securities $169,741

  • 7d · Net gain or loss

    total $169,741 · excluded $169,741

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $221,952 · program services $221,952

  • 11b · Fees: legal

    total $80,026 · management and general $80,026

  • 11c · Fees: accounting

    total $31,301 · management and general $31,301

  • 11g · Fees: other

    total $362,100 · program services $320,763 · management and general $41,337

  • 23 · Insurance

    total $27,716 · management and general $27,716

Balance sheet

Part X, book values.

  • 9 · Prepaid expenses and deferred charges

    end of year $3,197

  • 11 · Investments: publicly traded securities

    beginning of year $140,208,499 · end of year $143,482,847

  • 15 · Other assets

    beginning of year $15,701 · end of year $74,993

  • 17 · Accounts payable and accrued expenses

    beginning of year $61,150 · end of year $99,500

  • 28 · Net assets with donor restrictions

    beginning of year $140,163,050 · end of year $143,461,537

Mission and programs · 2023

Mission

THE PRINCIPAL PURPOSE OF THE TRUST IS TO MITIGATE THE IMPACT OF THE FEBRUARY 2021 WINTER STORM URI-RELATED SECURITIZATION CHARGES ON LOW INCOME COOPERATIVE RATEPAYERS OF THE PARTICIPATING 15 BRAZOS ELECTRIC MEMBER COOPERATIVES IN THIS TRUST.

  • THERE ARE AN ESTIMATED 134,000 POTENTIALLY ELIGIBLE HOUSEHOLDS, BASED ON ELIGIBILITY CRITERIA , IN THE PARTICIPATING MEMBER COOPERATIVES (PMC) SERVICE AREA. CUSTOMERS MAY APPLY FOR THE BENEFITS THROUGH SOLIX, A THIRD PARTY SPECIALIZING IN ELIGIBILITY DETERMINATION, AND THOSE CUSTOMERS DEEMED ELIGIBLE WILL RECEIVE CREDITS FROM THE PMCS ON THEIR MONTHLY INVOICES FOR ELECTRIC SERVICE TO COVER SECURITIZATION CHARGES INCLUDED IN THOSE INVOICES. THE CREDITS ARE FUNDED FROM REIMBURSEMENTS THE HARDSHIP FUND PAYS THE PMCS AFTER THE LOW INCOME CUSTOMERS RECEIVE THE CREDIT ON THEIR BILLS. THE FUND WAS SET UP IN DECEMBER OF 2022 AND BEGAN DISBURSING FUNDS TO THE PMCS IN 2023. DURING 2023 APPROXIMATELY 1,261 PEOPLE RECEIVED BENEFITS.

    Expenses $542,715 · Grants $221,952

As filed on the 2023 return.

Listed in Part VII

  • Paula Farquhar

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Russell Young

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jill Sadberry

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jim Bates

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Stephen Meers

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Justin Stapleton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Janet Voth 123-823

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Ryan Fuhrmann 1223-1223

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202443139349301014

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