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Nonprofiteer
← BROAD RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by BROAD RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$62,308,340
Total expenses
$62,397,364
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$62,193,144
Investment income
$116,211
Other revenue
-$1,015
Total assets, end of year
$166,687,542
Total liabilities, end of year
$116,320,413
Net assets or fund balances, end of year
$50,367,129
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 $60,818,952 · related or exempt $60,818,952

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

    total $700,710 · related or exempt $700,710

  • 2c · Program service revenue: POLE RENTAL REVENUE

    total $315,630 · excluded $315,630

  • 2d · Program service revenue: CAPITAL CREDITS

    total $226,957 · related or exempt $226,957

  • 2e · Program service revenue: OTHER REVENUES

    total $130,895 · related or exempt $130,895

  • 3 · Investment income

    total $116,211 · excluded $116,211

  • 6a · Gross rents

    real property -$1,015

  • 6c · Rental income or loss

    real property -$1,015

  • 6d · Net rental income or loss

    total -$1,015 · excluded -$1,015

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,855,009

  • 5 · Compensation of officers, directors and key employees

    total $925,448

  • 20 · Interest

    total $2,680,382

  • 22 · Depreciation, depletion and amortization

    total $4,622,242

  • 24a · Other expenses: PURCHASED POWER

    total $37,294,379

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $4,478,275

  • 24c · Other expenses: ADMINISTRATIVE AND GENERA

    total $3,467,730

  • 24d · Other expenses: DISTRIBUTION MAINTENANCE

    total $2,901,301

  • 24e · All other expenses

    total $2,172,598

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,167,704 · end of year $8,498,000

  • 4 · Accounts receivable

    beginning of year $5,806,578 · end of year $6,821,542

  • 8 · Inventories for sale or use

    beginning of year $813,197 · end of year $1,592,844

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,394,381 · end of year $10,539,370

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

    $167,215,677

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

    $36,142,703

  • 10c · Land, buildings and equipment, net

    beginning of year $126,742,263 · end of year $131,072,974

  • 13 · Investments: program-related

    beginning of year $7,356,972 · end of year $8,152,434

  • 15 · Other assets

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

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,046,227 · end of year $9,380,002

  • 23 · Secured mortgages and notes payable

    beginning of year $85,202,173 · end of year $97,521,847

  • 25 · Other liabilities

    beginning of year $9,182,356 · end of year $9,418,564

  • 29 · Capital stock, trust principal or current funds

    beginning of year $106,080 · end of year $108,325

  • 31 · Retained earnings, endowment or other funds

    beginning of year $46,754,637 · end of year $50,258,804

Mission and programs · 2024

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 2024 return.

Listed in Part VII

  • Terry W Mallard

    PRESIDENT &

    Total calculated
    $742,931
    From this org
    $597,686
    From related orgs
    $0
    Other
    $145,245
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $509,263
    Bonus
    $50,660
    Other
    $37,763
    Deferred
    $122,820
    Nontaxable benefits
    $22,425
    Filer's total
    $742,931

  • Cary Johnson

    COO

    Total calculated
    $279,149
    From this org
    $199,277
    From related orgs
    $0
    Other
    $79,872
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,680
    Bonus
    $18,832
    Other
    $11,765
    Deferred
    $57,447
    Nontaxable benefits
    $22,425
    Filer's total
    $279,149

  • John B Fowler

    VP-MEMBER SE

    Total calculated
    $229,641
    From this org
    $159,441
    From related orgs
    $0
    Other
    $70,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,002
    Bonus
    $14,177
    Other
    $5,262
    Deferred
    $47,775
    Nontaxable benefits
    $22,425
    Filer's total
    $229,641

  • Andrew Allsbrook

    CSO-CHIEF ST

    Total calculated
    $226,105
    From this org
    $178,061
    From related orgs
    $0
    Other
    $48,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,290
    Bonus
    $17,409
    Other
    $362
    Deferred
    $25,619
    Nontaxable benefits
    $22,425
    Filer's total
    $226,105

  • Jeffery S Humphries

    VP-EXTERNAL

    Total calculated
    $225,709
    From this org
    $157,479
    From related orgs
    $0
    Other
    $68,230
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,010
    Bonus
    $15,043
    Other
    $7,426
    Deferred
    $45,805
    Nontaxable benefits
    $22,425
    Filer's total
    $225,709

  • Kenneth Griswold

    VP-INFORMATI

    Total calculated
    $204,693
    From this org
    $139,883
    From related orgs
    $0
    Other
    $64,810
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,138
    Bonus
    $14,052
    Other
    $4,693
    Deferred
    $42,385
    Nontaxable benefits
    $22,425
    Filer's total
    $204,693

  • Norris R Fowler

    CHAIRMAN

    Total calculated
    $24,477
    From this org
    $24,477
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Bobby Foster

    TRUSTEE

    Total calculated
    $19,755
    From this org
    $19,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Decole Gallman

    SEC/TREAS

    Total calculated
    $19,755
    From this org
    $19,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • E Dewitt McCraw

    TRUSTEE

    Total calculated
    $19,755
    From this org
    $19,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kevin Moss

    TRUSTEE

    Total calculated
    $19,755
    From this org
    $19,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Mark Patterson

    TRUSTEE

    Total calculated
    $19,755
    From this org
    $19,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • William Peeler

    TRUSTEE

    Total calculated
    $19,755
    From this org
    $19,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • William Eric West

    TRUSTEE

    Total calculated
    $19,755
    From this org
    $19,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Anita P Whitney

    VICE CHAIRMA

    Total calculated
    $19,755
    From this org
    $19,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

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.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
31 October 2025
IRS schema version
2024v5.0
Source object
202523089349302917

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

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