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Nonprofiteer
← BEDFORD RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by BEDFORD RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$11,384,083
Total expenses
$11,384,083
Contributions and grants received
$0
Grants paid
$40,000
Program service revenue
$0
Investment income
$42,145
Other revenue
$11,341,938
Total assets, end of year
$61,419,051
Total liabilities, end of year
$27,059,561
Net assets or fund balances, end of year
$34,359,490
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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 $42,145 · excluded $42,145

  • 6a · Gross rents

    personal property $186,841

  • 6b · Less rental expenses

    personal property $0

  • 6c · Rental income or loss

    personal property $186,841

  • 6d · Net rental income or loss

    total $186,841 · excluded $186,841

  • 10a · Gross sales of inventory

    $27,832,971

  • 10b · Cost of goods sold

    $18,931,579

  • 10c · Net income from sales of inventory

    total $8,901,392 · related or exempt $8,901,392

  • 11a · Other revenue: PAT CAP OF ASSOC. ORGS

    total $2,253,705 · excluded $2,253,705

  • 11e · Other revenue, total

    $2,253,705

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,000

  • 4 · Benefits paid to or for members

    total $3,535,607

  • 5 · Compensation of officers, directors and key employees

    total $461,332

  • 20 · Interest

    total $542,694

  • 22 · Depreciation, depletion and amortization

    total $1,537,120

  • 24a · Other expenses: DISTRIBUTION MAINTENANC

    total $1,811,956

  • 24b · Other expenses: DISTRIBUTION OPERATIONS

    total $1,513,846

  • 24c · Other expenses: ADMINISTRATION AND GENE

    total $1,138,507

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $586,697

  • 24e · All other expenses

    total $216,324

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $525,731 · end of year $502,351

  • 2 · Savings and temporary cash investments

    beginning of year $49,262 · end of year $49,262

  • 4 · Accounts receivable

    beginning of year $2,479,890 · end of year $2,724,546

  • 8 · Inventories for sale or use

    beginning of year $746,429 · end of year $1,217,463

  • 9 · Prepaid expenses and deferred charges

    beginning of year $367,634 · end of year $292,924

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

    $57,423,567

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

    $15,065,090

  • 10c · Land, buildings and equipment, net

    beginning of year $39,705,918 · end of year $42,358,477

  • 13 · Investments: program-related

    beginning of year $12,300,140 · end of year $14,274,028

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,446,356 · end of year $3,269,817

  • 23 · Secured mortgages and notes payable

    beginning of year $18,810,146 · end of year $22,142,742

  • 25 · Other liabilities

    beginning of year $1,906,843 · end of year $1,647,002

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $334,650 · end of year $346,902

  • 31 · Retained earnings, endowment or other funds

    beginning of year $31,677,009 · end of year $34,012,588

Mission and programs · 2022

Mission

DISTRIBUTION OF ELECTRICITY TO MEMBER/OWNERS IN RURAL AREAS OF BEDFORD COUNTY, PA ON A COOPERATIVE BASIS.

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO MEMBERS IN RURAL AREAS OF BEDFORD COUNTY, PA ON A COOPERATIVE BASIS.

  • DISTRIBUTION OF ELECTRICITY TO MEMBERS/OWNERS IN RURAL AREAS OF BEDFORD COUNTY, PA ON A COOPERATIVE BASIS.

  • DISTRIBUTION OF ELECTRICITY TO MEMBER/OWNERS IN RURAL BEDFORD, PA ON A COOPERATIVE BASIS

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Earl Garland

    DIRECTOR

    Total calculated
    $5,010
    From this org
    $5,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Paul Rummel Jr

    SECRETARY

    Total calculated
    $5,310
    From this org
    $5,310
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Dale Sprigg II

    DIRECTOR

    Total calculated
    $5,763
    From this org
    $5,763
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • John Oldham

    DIRECTOR (RESIGNED DEC 2022)

    Total calculated
    $1,496
    From this org
    $1,496
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ronald Wilkins

    PRESIDENT

    Total calculated
    $4,457
    From this org
    $4,457
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Reuben Lafferty

    TREASURER

    Total calculated
    $5,010
    From this org
    $5,010
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Donald Hoenstine

    VICE PRESIDENT

    Total calculated
    $3,604
    From this org
    $3,604
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Travis Wigfield

    DIRECTOR

    Total calculated
    $2,008
    From this org
    $2,008
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Brian Hoover

    DIRECTOR

    Total calculated
    $6,014
    From this org
    $6,014
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Brooks Shoemaker

    GENERAL MANAGER & CEO

    Total calculated
    $277,504
    From this org
    $203,506
    From related orgs
    $0
    Other
    $73,998
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,506
    Bonus
    $0
    Other
    $0
    Deferred
    $53,921
    Nontaxable benefits
    $20,077
    Filer's total
    $277,504

  • Brent Kauffman

    FINANCE & ACCOUNTING MANAGER

    Total calculated
    $145,155
    From this org
    $99,469
    From related orgs
    $0
    Other
    $45,686
    Hours/week
    40

  • Ryan Young

    OPERATIONS & ENGINEERING MGR

    Total calculated
    $176,558
    From this org
    $125,432
    From related orgs
    $0
    Other
    $51,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,432
    Bonus
    $0
    Other
    $0
    Deferred
    $31,846
    Nontaxable benefits
    $19,280
    Filer's total
    $176,558

  • Landon Clark

    WORKING FOREMAN

    Total calculated
    $138,573
    From this org
    $111,043
    From related orgs
    $0
    Other
    $27,530
    Hours/week
    40

  • Troy Mock

    SUPERVISOR

    Total calculated
    $145,578
    From this org
    $104,828
    From related orgs
    $0
    Other
    $40,750
    Hours/week
    40

  • Bradley Glessner

    FIRST CLASS LINEMAN

    Total calculated
    $132,192
    From this org
    $110,640
    From related orgs
    $0
    Other
    $21,552
    Hours/week
    40

  • Timothy Shook

    LINE SUPERINTENDENT

    Total calculated
    $148,359
    From this org
    $106,581
    From related orgs
    $0
    Other
    $41,778
    Hours/week
    40

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 · Independent compensation consultant
  • 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

Provenance

Return type
form_990
Tax year
2022
Filed
27 June 2023
IRS schema version
2022v5.0
Source object
202301789349300710

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