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Nonprofiteer
← BLUE RIDGE ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by BLUE RIDGE ELECTRIC COOPERATIVE.

Totals

Total revenue
$178,719,621
Total expenses
$190,220,058
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$178,584,343
Investment income
$174,425
Other revenue
-$39,147
Total assets, end of year
$521,171,594
Total liabilities, end of year
$445,319,342
Net assets or fund balances, end of year
$75,852,252
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 $172,639,446 · related or exempt $172,639,446

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

    total $2,037,046 · related or exempt $2,037,046

  • 2c · Program service revenue: POLE RENTAL REVENUE

    total $1,535,796 · excluded $1,535,796

  • 2d · Program service revenue: OTHER ELECTRIC REVENUES

    total $1,267,217 · related or exempt $1,267,217

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

    total $1,104,838 · related or exempt $1,104,838

  • 3 · Investment income

    total $174,425 · excluded $174,425

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

    total -$39,147 · related or exempt -$39,147

  • 11e · Other revenue, total

    -$39,147

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $993,305

  • 20 · Interest

    total $13,565,635

  • 22 · Depreciation, depletion and amortization

    total $16,982,111

  • 24a · Other expenses: PURCHASED POWER

    total $94,388,929

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $25,662,819

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $13,188,544

  • 24d · Other expenses: ADMINISTRATIVE & GENERAL

    total $10,339,324

  • 24e · All other expenses

    total $15,099,391

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,191,754 · end of year $9,789,017

  • 4 · Accounts receivable

    beginning of year $21,602,673 · end of year $23,685,104

  • 7 · Other notes and loans receivable

    beginning of year $1,335,980 · end of year $1,471,914

  • 8 · Inventories for sale or use

    beginning of year $8,940,183 · end of year $6,625,215

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,711,458 · end of year $878,121

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

    $617,170,960

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

    $162,733,054

  • 10c · Land, buildings and equipment, net

    beginning of year $394,699,026 · end of year $454,437,906

  • 13 · Investments: program-related

    beginning of year $21,847,483 · end of year $24,263,251

  • 15 · Other assets

    beginning of year $4,614,821 · end of year $21,066

  • 17 · Accounts payable and accrued expenses

    beginning of year $71,332,421 · end of year $55,450,274

  • 23 · Secured mortgages and notes payable

    beginning of year $286,972,368 · end of year $365,808,769

  • 25 · Other liabilities

    beginning of year $23,881,527 · end of year $24,060,299

  • 29 · Capital stock, trust principal or current funds

    beginning of year $342,635 · end of year $350,141

  • 31 · Retained earnings, endowment or other funds

    beginning of year $86,414,427 · end of year $75,502,111

Mission and programs · 2023

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 2023 return.

Listed in Part VII

  • James Lovinggood

    PRESIDENT &

    Total calculated
    $586,627
    From this org
    $481,126
    From related orgs
    $0
    Other
    $105,501
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $415,056
    Bonus
    $5,429
    Other
    $60,641
    Deferred
    $102,069
    Nontaxable benefits
    $3,432
    Filer's total
    $586,627

  • David Collins

    VP FINANCE

    Total calculated
    $415,700
    From this org
    $327,070
    From related orgs
    $0
    Other
    $88,630
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $284,577
    Bonus
    $960
    Other
    $41,533
    Deferred
    $85,822
    Nontaxable benefits
    $2,808
    Filer's total
    $415,700

  • Samuel McMillan

    VP OPERATION

    Total calculated
    $408,664
    From this org
    $321,755
    From related orgs
    $0
    Other
    $86,909
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $283,549
    Bonus
    $5,351
    Other
    $32,855
    Deferred
    $85,458
    Nontaxable benefits
    $1,451
    Filer's total
    $408,664

  • Denise McCormick

    VP MEMBER SE

    Total calculated
    $377,457
    From this org
    $296,709
    From related orgs
    $0
    Other
    $80,748
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $262,577
    Bonus
    $1,300
    Other
    $32,832
    Deferred
    $77,940
    Nontaxable benefits
    $2,808
    Filer's total
    $377,457

  • Zach Hinton

    VP OF BROADB

    Total calculated
    $346,796
    From this org
    $269,639
    From related orgs
    $0
    Other
    $77,157
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $257,937
    Bonus
    $1,060
    Other
    $10,642
    Deferred
    $74,517
    Nontaxable benefits
    $2,640
    Filer's total
    $346,796

  • Mark Waters

    VP ENGINEERI

    Total calculated
    $335,470
    From this org
    $254,253
    From related orgs
    $0
    Other
    $81,217
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $245,561
    Bonus
    $920
    Other
    $7,772
    Deferred
    $76,009
    Nontaxable benefits
    $5,208
    Filer's total
    $335,470

  • Jimmy Lee Dodgens

    TRUSTEE

    Total calculated
    $55,913
    From this org
    $55,913
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joel R Davis

    TRUSTEE

    Total calculated
    $53,940
    From this org
    $53,940
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Len Talley

    VICE CHAIRMA

    Total calculated
    $52,369
    From this org
    $52,369
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Kenneth Southerlin

    TRUSTEE

    Total calculated
    $52,085
    From this org
    $52,085
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mendel Stone

    TREASURER

    Total calculated
    $51,913
    From this org
    $51,913
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • J Spencer Dalton

    CHAIRMAN

    Total calculated
    $51,470
    From this org
    $51,470
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William G Elrod

    TRUSTEE

    Total calculated
    $48,613
    From this org
    $48,613
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • William Anderson

    TRUSTEE

    Total calculated
    $21,712
    From this org
    $21,712
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Franklin M Looper Jr

    SECRETARY

    Total calculated
    $18,663
    From this org
    $18,663
    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
2023
Filed
12 November 2024
IRS schema version
2023v5.0
Source object
202413179349302676

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