Form 990 for tax year 2023
Filed by NRECA WOOD QUALITY CONTROL INC.
Totals
- Total revenue
- $3,561,672
- Total expenses
- $2,940,785
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $3,489,091
- Investment income
- $72,581
- Other revenue
- $0
- Total assets, end of year
- $2,772,033
- Total liabilities, end of year
- $321,521
- Net assets or fund balances, end of year
- $2,450,512
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- $2,940,785
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: WOOD QUALITY INSPECTION
total $3,489,091 · related or exempt $3,489,091
-
3 · Investment income
total $72,581 · unrelated business $0 · excluded $72,581
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $445,060
-
11b · Fees: legal
total $100
-
11c · Fees: accounting
total $1,959
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $65,226
-
12 · Advertising and promotion
total $35,823
-
13 · Office expenses
total $1,450
-
14 · Information technology
total $64,028
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $101,112
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $9,092
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $494
-
23 · Insurance
total $0
-
24a · Other expenses: PRODUCTION MONITORING FEES
total $2,010,898
-
24b · Other expenses: G&A ALLOCATED EXPENSES
total $189,148
-
24c · Other expenses: OTHER EXPENSES
total $16,395
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $0 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $2,096,822 · end of year $2,772,033
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$15,314
-
10b · Land, buildings and equipment: accumulated depreciation
$15,314
-
10c · Land, buildings and equipment, net
beginning of year $494 · end of year $0
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $271,755 · end of year $321,521
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
29 · Capital stock, trust principal or current funds
beginning of year $1,000 · end of year $1,000
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $1,824,561 · end of year $2,449,512
Mission and programs · 2023
Mission
ESTABLISH, OPERATE, MAINTAIN AND ADMINISTER A PROGRAM OF ACTIVITIES DESIGNED TO IMPLEMENT RECOGNIZED STANDARDS ESTABLISHED BY THE UNITED STATES RURAL UTILITIES SERVICE AND OTHERS TO ENSURE THE QUALITY OF TIMBER PRODUCTS USED IN THE CONTRUCTION OF RURAL ELECTRIFICATION SYSTEMS.
Activities or mission (Part I)
SEE SCHEDULE O
-
FOR 2023 WQC'S STAFF AND CONTRACTOR, TIMBER PRODUCT INSPECTION, INC., MONITORED THE PRODUCTION OF POLES AND CROSS ARMS. WQC CONTINUED TO ENSURE ALL POLES AND CROSS ARMS INSPECTED IN 2023 MET OR EXCEEDED THE UNITED STATES RURAL UTILITIES SERVICE (RUS) SPECIFICATIONS.
Expenses $2,940,785 · Revenue $3,489,091
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
JEFFREY CONNOR
PRESIDENT
- Total calculated
- $826,187
- From this org
- $0
- From related orgs
- $713,577
- Other
- $112,610
- Hours/week
- 0.04 + 47.96 related
Schedule J breakdown matched by us
- Base
- $0 + $571,656 related
- Bonus
- $0 + $125,200 related
- Other
- $0 + $16,721 related
- Deferred
- $0 + $71,062 related
- Nontaxable benefits
- $0 + $41,548 related
- Filer's total
- $0 + $826,187 related
-
ANGELA STRICKLAND
SR. VICE PRESIDENT
- Total calculated
- $507,388
- From this org
- $0
- From related orgs
- $454,573
- Other
- $52,815
- Hours/week
- 0.23 + 53.02 related
Schedule J breakdown matched by us
- Base
- $0 + $372,038 related
- Bonus
- $0 + $75,250 related
- Other
- $0 + $7,285 related
- Deferred
- $0 + $49,966 related
- Nontaxable benefits
- $0 + $2,849 related
- Filer's total
- $0 + $507,388 related
-
DAVID SCOTT
TREASURER
- Total calculated
- $308,372
- From this org
- $0
- From related orgs
- $240,938
- Other
- $67,434
- Hours/week
- 0.29 + 49.08 related
Schedule J breakdown matched by us
- Base
- $0 + $235,938 related
- Bonus
- $0 + $4,450 related
- Other
- $0 + $550 related
- Deferred
- $0 + $37,166 related
- Nontaxable benefits
- $0 + $30,268 related
- Filer's total
- $0 + $308,372 related
-
JESSICA HEALY
SECRETARY
- Total calculated
- $280,157
- From this org
- $0
- From related orgs
- $238,127
- Other
- $42,030
- Hours/week
- 0.04 + 45.67 related
Schedule J breakdown matched by us
- Base
- $0 + $232,379 related
- Bonus
- $0 + $1,625 related
- Other
- $0 + $4,123 related
- Deferred
- $0 + $40,082 related
- Nontaxable benefits
- $0 + $1,948 related
- Filer's total
- $0 + $280,157 related
-
OLIVER COX
EXECUTIVE VICE PRESIDENT
- Total calculated
- $204,728
- From this org
- $0
- From related orgs
- $153,417
- Other
- $51,311
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $149,211 related
- Bonus
- $0 + $3,700 related
- Other
- $0 + $506 related
- Deferred
- $0 + $23,413 related
- Nontaxable benefits
- $0 + $27,898 related
- Filer's total
- $0 + $204,728 related
-
BRYAN CASE
FORMER DIRECTOR
- Total calculated
- $29,500
- From this org
- $0
- From related orgs
- $29,500
- Other
- $0
- Hours/week
- 0 + 7.65 related
Schedule J breakdown matched by us
- Base
- $0 + $29,500 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $29,500 related
-
STEVE WALTER
FORMER CHAIRMAN OF BOARD
- Total calculated
- $27,750
- From this org
- $0
- From related orgs
- $27,750
- Other
- $0
- Hours/week
- 0 + 7.65 related
Schedule J breakdown matched by us
- Base
- $0 + $27,750 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $0 + $27,750 related
-
MARTY LITTREL
VICE PRESIDENT
- Total calculated
- $24,500
- From this org
- $0
- From related orgs
- $24,500
- Other
- $0
- Hours/week
- 0.06 + 3.44 related
-
TIMOTHY VELDE
DIRECTOR
- Total calculated
- $21,250
- From this org
- $0
- From related orgs
- $21,250
- Other
- $0
- Hours/week
- 0.04 + 7.06 related
-
RANDY SHAW
DIRECTOR
- Total calculated
- $18,250
- From this org
- $0
- From related orgs
- $18,250
- Other
- $0
- Hours/week
- 0.04 + 7.25 related
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 · Tax indemnification and gross-up payments
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- SCHEDULE J, PART I, LINE 1A:
- NRECA GROSSES UP PAYMENTS MADE TO STAFF THAT ARE ELIGIBLE UNDER THE EXECUTIVE 401(K) BONUS PLAN AND ELIGIBLE RELOCATION EXPENSES.
- SCHEDULE J, PART I, LINE 3:
- NRECA WOOD QUALITY CONTROL DOES NOT COMPENSATE ANY INDIVIDUALS. THE POLICIES OF NRECA INCLUDE A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION STUDY AND A WRITTEN EMPLOYMENT CONTRACT.
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.
-
NATIONAL RURAL ELECTRIC COOP ASSOCIATION
501(C)(6) · TRADE ASSOC. · VA
Directly controlled by NA
-
GLENN ENGLISH NAT'L LEADERSHIP COOP FDN
501(C)(3) · SEE PART VII · VA
Directly controlled by NRECA
-
501(C)(3) · SEE PART VII · VA
Directly controlled by NRECA
-
501(C)(3) · SEE PART VII · VA
Directly controlled by NRECA
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.
-
Cooperative Insurance Services
C CORP · SEE PART VII · VA · 0% owned · share of income $0 · share of assets $0
Directly controlled by SEE PART VII
-
C CORP · SEE PART VII · 0% owned · share of income $0 · share of assets $0
Directly controlled by SEE PART VII
-
COOPERATIVE BENEFITS ADMINISTRATORS
C CORP · SEE PART VII · 0% owned · share of income $0 · share of assets $0
Directly controlled by SEE PART VII
-
C CORP · SEE PART VII · 0% owned · share of income $0 · share of assets $0
Directly controlled by SEE PART VII
-
HOMESTEAD FINANCIAL SERVICES CORP
C CORP · SEE PART VII · 0% owned · share of income $0 · share of assets $0
Directly controlled by SEE PART VII
-
C CORP · SEE PART VII · 0% owned · share of income $0 · share of assets $0
Directly controlled by SEE PART VII
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403199349302905
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