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Nonprofiteer
← RICHLAND ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by RICHLAND ELECTRIC COOPERATIVE.

Totals

Total revenue
$9,059,286
Total expenses
$8,740,282
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$8,946,558
Investment income
$79,012
Other revenue
$33,716
Total assets, end of year
$29,298,983
Total liabilities, end of year
$17,509,189
Net assets or fund balances, end of year
$11,789,794
Program services expenses (Part IX)
$8,740,282
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 100.0% 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 $8,656,696 · related or exempt $8,656,696

  • 2b · Program service revenue: CAPITAL CREDITS AND POLE RENT

    total $289,862 · excluded $289,862

  • 3 · Investment income

    total $16,319 · excluded $16,319

  • 7a · Gross sales of assets other than inventory

    other assets $62,693

  • 7c · Gain or loss

    other assets $62,693

  • 7d · Net gain or loss

    total $62,693 · related or exempt $62,693

  • 11a · Other revenue: SALE OF INVENTORY

    total $40,364 · related or exempt $40,364

  • 11b · Other revenue: FIRST CALL REVENUE NON MEMBER

    total $17,355 · unrelated business $17,355

  • 11c · Other revenue: ENCORE

    total $13,800 · unrelated business $13,800

  • 11d · All other revenue

    total -$37,803 · related or exempt -$38,237 · unrelated business $434

  • 11e · Other revenue, total

    $33,716

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $45,940 · program services $45,940

  • 5 · Compensation of officers, directors and key employees

    total $608,609 · program services $608,609

  • 16 · Occupancy

    total $13,800 · program services $13,800

  • 20 · Interest

    total $589,036 · program services $589,036

  • 22 · Depreciation, depletion and amortization

    total $1,011,854 · program services $1,011,854

  • 24a · Other expenses: PURCHASED POWER

    total $3,795,364 · program services $3,795,364

  • 24b · Other expenses: DISTRIBUTION-MAINTENANCE

    total $997,022 · program services $997,022

  • 24c · Other expenses: ADMIN AND GENERAL

    total $474,268 · program services $474,268

  • 24d · Other expenses: CUSTOMER ACCOUNTS

    total $465,775 · program services $465,775

  • 24e · All other expenses

    total $738,614 · program services $738,614

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,223,355 · end of year $992,164

  • 4 · Accounts receivable

    beginning of year $803,913 · end of year $873,788

  • 7 · Other notes and loans receivable

    beginning of year $287,344 · end of year $248,993

  • 8 · Inventories for sale or use

    beginning of year $406,200 · end of year $451,996

  • 9 · Prepaid expenses and deferred charges

    beginning of year $40,975 · end of year $40,387

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

    $33,898,924

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

    $11,809,419

  • 10c · Land, buildings and equipment, net

    beginning of year $21,800,437 · end of year $22,089,505

  • 12 · Investments: other securities

    beginning of year $338,382 · end of year $295,124

  • 13 · Investments: program-related

    beginning of year $4,143,969 · end of year $4,295,284

  • 15 · Other assets

    beginning of year $28,332 · end of year $11,742

  • 17 · Accounts payable and accrued expenses

    beginning of year $708,818 · end of year $459,158

  • 23 · Secured mortgages and notes payable

    beginning of year $14,535,255 · end of year $15,354,045

  • 25 · Other liabilities

    beginning of year $2,191,624 · end of year $1,695,986

  • 31 · Retained earnings, endowment or other funds

    beginning of year $11,637,210 · end of year $11,789,794

Mission and programs · 2023

Mission

PROVIDE ELECTRIC ENERGY TO ITS MEMBERS.

  • PROVIDE ELECTRIC ENERGY TO ITS MEMBERS

As filed on the 2023 return.

Listed in Part VII

  • Shannon Clark

    VICE PRESIDE

    Total calculated
    $404,835
    From this org
    $271,421
    From related orgs
    $0
    Other
    $133,414
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $271,421
    Bonus
    not reported
    Other
    not reported
    Deferred
    $110,437
    Nontaxable benefits
    $22,977
    Filer's total
    $404,835

  • Amy Martin

    CEO/GM

    Total calculated
    $238,342
    From this org
    $149,327
    From related orgs
    $0
    Other
    $89,015
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $149,327
    Bonus
    not reported
    Other
    not reported
    Deferred
    $61,306
    Nontaxable benefits
    $27,709
    Filer's total
    $238,342

  • Larry Hallett

    COO/AGM

    Total calculated
    $178,067
    From this org
    $125,405
    From related orgs
    $0
    Other
    $52,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,405
    Bonus
    not reported
    Other
    not reported
    Deferred
    $30,049
    Nontaxable benefits
    $22,613
    Filer's total
    $178,067

  • Mark Miller

    DIR OF ENERG

    Total calculated
    $162,855
    From this org
    $120,002
    From related orgs
    $0
    Other
    $42,853
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $120,002
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,294
    Nontaxable benefits
    $27,559
    Filer's total
    $162,855

  • Dave Darling

    JOURNEYMANLI

    Total calculated
    $143,415
    From this org
    $119,419
    From related orgs
    $0
    Other
    $23,996
    Hours/week
    43

  • James Kaderavek

    JOURNEYMANLI

    Total calculated
    $131,734
    From this org
    $123,252
    From related orgs
    $0
    Other
    $8,482
    Hours/week
    43

  • Grant Worthington

    JOURNEYMANLI

    Total calculated
    $131,464
    From this org
    $122,030
    From related orgs
    $0
    Other
    $9,434
    Hours/week
    43

  • Calvin Sebranek

    PRESIDENT

    Total calculated
    $8,475
    From this org
    $8,475
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Daniel Hillberry

    VICE PRESIDE

    Total calculated
    $6,275
    From this org
    $6,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Timothy Tiller

    TREASURER

    Total calculated
    $5,600
    From this org
    $5,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Judy Murphy

    SECRETARY

    Total calculated
    $5,450
    From this org
    $5,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Kevin Kepler

    DIRECTOR

    Total calculated
    $5,025
    From this org
    $5,025
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jeffrey Monson

    DIRECTOR

    Total calculated
    $5,025
    From this org
    $5,025
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Steven Fuller

    DIRECTOR

    Total calculated
    $4,900
    From this org
    $4,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Donald Huffman

    DIRECTOR

    Total calculated
    $4,625
    From this org
    $4,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • James Goplin

    DIRECTOR

    Total calculated
    $4,575
    From this org
    $4,575
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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 survey or study

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • ENCORE SERVICES INC

    C CORP · PART VII · WI · 100% owned · share of income -$38,347 · share of assets $122,974 · controlled entity

    Directly controlled by PART VII

  • ENCORE ELECTRONICS AND WIRELESS IN

    C CORP · PART VII · WI · 100% owned · share of income -$4,911 · share of assets $456,475 · controlled entity

    Directly controlled by PART VII

Provenance

Return type
form_990
Tax year
2023
Filed
9 August 2024
IRS schema version
2023v5.0
Source object
202432419349301503

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