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Nonprofiteer
← BLACK RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by BLACK RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$81,509,499
Total expenses
$81,063,934
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$81,274,564
Investment income
$244,997
Other revenue
-$10,062
Total assets, end of year
$117,414,050
Total liabilities, end of year
$25,226,014
Net assets or fund balances, end of year
$92,188,036
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 $80,618,475 · related or exempt $80,618,475

  • 2b · Program service revenue: PATRONAGE CAPITAL

    total $616,996 · related or exempt $616,996

  • 2c · Program service revenue: POLE RENTAL

    total $39,093 · excluded $39,093

  • 3 · Investment income

    total $244,997 · excluded $244,997

  • 11a · Other revenue: EV CHARGING STATION REVENUE

    total $387 · related or exempt $387

  • 11b · Other revenue: EQUITY EARNINGS SUBSIDIARY

    total -$10,449 · related or exempt -$10,449

  • 11e · Other revenue, total

    -$10,062

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,334,006

  • 5 · Compensation of officers, directors and key employees

    total $821,263

  • 7 · Other salaries and wages

    total $3,705,083

  • 8 · Pension plan contributions

    total $1,705,871

  • 9 · Other employee benefits

    total $770,377

  • 10 · Payroll taxes

    total $455,627

  • 11b · Fees: legal

    total $6,969

  • 11c · Fees: accounting

    total $54,055

  • 12 · Advertising and promotion

    total $145,253

  • 13 · Office expenses

    total $841,009

  • 14 · Information technology

    total $323,369

  • 16 · Occupancy

    total $488,801

  • 19 · Conferences, conventions and meetings

    total $81,262

  • 20 · Interest

    total $403,630

  • 22 · Depreciation, depletion and amortization

    total $5,221,834

  • 23 · Insurance

    total $171,046

  • 24a · Other expenses: PURCHASE POWER

    total $56,960,092

  • 24b · Other expenses: OPS, MAINT,CONS, A&G

    total $2,834,975

  • 24c · Other expenses: PROPERTY TAX

    total $2,183,813

  • 24d · Other expenses: GROSS RECEIPTS/EXCISE TAX

    total $555,599

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,398,875 · end of year $7,018,636

  • 2 · Savings and temporary cash investments

    beginning of year $4,731,566 · end of year $4,745,608

  • 4 · Accounts receivable

    beginning of year $8,423,692 · end of year $9,958,862

  • 7 · Other notes and loans receivable

    beginning of year $1,070,051 · end of year $746,086

  • 8 · Inventories for sale or use

    beginning of year $1,073,888 · end of year $1,047,184

  • 9 · Prepaid expenses and deferred charges

    beginning of year $322,770 · end of year $376,851

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

    $151,896,244

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

    $67,631,135

  • 10c · Land, buildings and equipment, net

    beginning of year $81,036,707 · end of year $84,265,109

  • 13 · Investments: program-related

    beginning of year $8,770,144 · end of year $9,226,977

  • 15 · Other assets

    beginning of year $31,236 · end of year $28,737

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,660,993 · end of year $8,360,256

  • 23 · Secured mortgages and notes payable

    beginning of year $10,192,811 · end of year $12,238,301

  • 25 · Other liabilities

    beginning of year $5,310,040 · end of year $4,627,457

  • 31 · Retained earnings, endowment or other funds

    beginning of year $92,695,085 · end of year $92,188,036

Mission and programs · 2022

Mission

TO PROVIDE RURAL AND URBAN AREAS WITHIN THE COOPERATIVES'S ASSIGNED SERVICE TERRITORY WITH RELIABLE, AFFORDABLE ELECTRICITY WHILE ALSO PROVIDING MEMBERS WITH EXCELLENT CUSTOMER SERVICE.

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL MEMBERS WITHIN THE COOPERATIVE'S ASSIGNED SERVICE TERRITORIES.

  • TO PROVIDE RURAL AND URBAN AREAS WITHIN THE COOPERATIVE'S ASSIGNED SERVICE TERRITORY WITH RELIABLE AND AFFORDABLE ELECTRICITY WHILE ALSO PROVIDINGS ITS MEMBERS WITH EXCELLENT CUSTOMER SERVICE.

As filed on the 2022 return.

Listed in Part VII

  • Mary B Sheridan

    CHAIR-TRUST

    Total calculated
    $24,656
    From this org
    $24,656
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • George R Gibson

    VICE CHAIR.-

    Total calculated
    $31,367
    From this org
    $10,867
    From related orgs
    $0
    Other
    $20,500
    Hours/week
    12.5

  • Caren Schwartz

    SECRETARY -T

    Total calculated
    $24,656
    From this org
    $24,656
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Julian Dixon Jr

    CHAPLAIN-TRU

    Total calculated
    $24,206
    From this org
    $24,206
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Thomas Durant

    TRUSTEE

    Total calculated
    $24,656
    From this org
    $24,656
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Ronald Fountain

    TRUSTEE

    Total calculated
    $23,600
    From this org
    $23,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Dr Ronald Prestage

    TRUSTEE

    Total calculated
    $10,706
    From this org
    $10,706
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Ivan Sanders

    TRUSTEE

    Total calculated
    $25,106
    From this org
    $25,106
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • David L Tindal

    TRUSTEE

    Total calculated
    $17,006
    From this org
    $17,006
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Charles R Allen

    CEO

    Total calculated
    $388,903
    From this org
    $264,323
    From related orgs
    $0
    Other
    $124,580
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $248,073
    Bonus
    not reported
    Other
    $16,250
    Deferred
    $105,760
    Nontaxable benefits
    $18,820
    Filer's total
    $388,903

  • Betty J Welsh

    VP FINANCE &

    Total calculated
    $226,401
    From this org
    $174,832
    From related orgs
    $0
    Other
    $51,569
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $158,294
    Bonus
    $6,538
    Other
    $10,000
    Deferred
    $40,229
    Nontaxable benefits
    $11,340
    Filer's total
    $226,401

  • James F Moye

    VP ENGINEERI

    Total calculated
    $159,800
    From this org
    $137,593
    From related orgs
    $0
    Other
    $22,207
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $120,552
    Bonus
    $5,511
    Other
    $11,530
    Deferred
    $1,317
    Nontaxable benefits
    $20,890
    Filer's total
    $159,800

  • Brenda P Chase

    PUBLIC RELAT

    Total calculated
    $159,037
    From this org
    $118,411
    From related orgs
    $0
    Other
    $40,626
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,893
    Bonus
    $4,518
    Other
    not reported
    Deferred
    $33,171
    Nontaxable benefits
    $7,455
    Filer's total
    $159,037

  • Linsey Robinson

    CREW FOREMAN

    Total calculated
    $163,868
    From this org
    $127,481
    From related orgs
    $0
    Other
    $36,387
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $123,791
    Bonus
    $3,690
    Other
    not reported
    Deferred
    $26,821
    Nontaxable benefits
    $9,566
    Filer's total
    $163,868

  • Tracy Geddings

    LINE SUPERIN

    Total calculated
    $166,837
    From this org
    $114,857
    From related orgs
    $0
    Other
    $51,980
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $110,638
    Bonus
    $4,219
    Other
    not reported
    Deferred
    $42,922
    Nontaxable benefits
    $9,058
    Filer's total
    $166,837

  • Matthew Compton

    ENG. MANAGER

    Total calculated
    $149,985
    From this org
    $111,034
    From related orgs
    $0
    Other
    $38,951
    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

  • 1a · First-class or charter travel
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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.

Related corporations and trusts

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

  • BLACK RIVER ECONOMIC DEVELOPMENT CO

    C CORP · SC · 100% owned · share of income -$10,449 · share of assets $1,153,467

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202313139349301856

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