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Nonprofiteer
← SUN RIVER ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by SUN RIVER ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$13,531,337
Total expenses
$13,531,337
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,622,189
Investment income
$130,712
Other revenue
$778,436
Total assets, end of year
$41,114,385
Total liabilities, end of year
$17,877,646
Net assets or fund balances, end of year
$23,236,739
Program services expenses (Part IX)
$12,165,814
Management and general expenses
$1,365,523
Fundraising expenses
$0
Program service expenses (Part III)
$12,165,814

Program services were 89.9% 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: SALE OF ELECTRICITY AND SERVICES

    total $12,622,189 · related or exempt $12,622,189

  • 3 · Investment income

    total $130,712 · excluded $130,712

  • 11a · Other revenue: G & T AND OTHER CAPITAL CREDITS

    total $752,030 · related or exempt $752,030

  • 11b · Other revenue: OTHER NONOPERATING INCOME

    total $26,406 · related or exempt $26,406

  • 11e · Other revenue, total

    $778,436

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,983,181 · program services $1,983,181

  • 5 · Compensation of officers, directors and key employees

    total $450,061 · management and general $450,061

  • 7 · Other salaries and wages

    total $370,647 · management and general $370,647

  • 9 · Other employee benefits

    total $55,102 · management and general $55,102

  • 11b · Fees: legal

    total $3,483 · management and general $3,483

  • 11c · Fees: accounting

    total $10,900 · management and general $10,900

  • 11g · Fees: other

    total $1,019 · management and general $1,019

  • 13 · Office expenses

    total $180,409 · management and general $180,409

  • 20 · Interest

    total $513,480 · program services $513,480

  • 22 · Depreciation, depletion and amortization

    total $1,568,613 · program services $1,568,613

  • 24a · Other expenses: COST OF POWER

    total $4,794,721 · program services $4,794,721

  • 24b · Other expenses: DISTRIBUTION - OPERATIO

    total $1,529,192 · program services $1,529,192

  • 24c · Other expenses: DISTRIBUTION - MAINTENA

    total $628,589 · program services $628,589

  • 24d · Other expenses: TAXES

    total $456,218 · program services $456,218

  • 24e · All other expenses

    total $985,722 · program services $691,820 · management and general $293,902

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $842,026 · end of year $897,022

  • 2 · Savings and temporary cash investments

    beginning of year $2,754,839 · end of year $1,082,447

  • 4 · Accounts receivable

    beginning of year $1,527,234 · end of year $1,494,583

  • 8 · Inventories for sale or use

    beginning of year $998,546 · end of year $1,028,089

  • 9 · Prepaid expenses and deferred charges

    beginning of year $295,566 · end of year $250,741

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

    $57,883,188

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

    $26,437,258

  • 10c · Land, buildings and equipment, net

    beginning of year $28,211,519 · end of year $31,445,930

  • 15 · Other assets

    beginning of year $4,594,625 · end of year $4,915,573

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,816,351 · end of year $2,111,637

  • 23 · Secured mortgages and notes payable

    beginning of year $14,714,370 · end of year $15,420,384

  • 25 · Other liabilities

    beginning of year $504,906 · end of year $345,625

  • 29 · Capital stock, trust principal or current funds

    beginning of year $10 · end of year $10

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

    beginning of year $2,378,580 · end of year $2,533,081

  • 31 · Retained earnings, endowment or other funds

    beginning of year $19,810,138 · end of year $20,703,648

Mission and programs · 2023

Mission

THE MISSION OF SUN RIVER ELECTRIC COOPERATIVE, INC. IS TO MAINTAIN A FINANCIALLY SOUND COOPERATIVE WITH SYSTEMATIC MAINTENANCE AND RATE STABILITY WHILE PROMOTING GROWTH, BOARD AND EMPLOYEE EDUCATION AND MAINTAINING GOOD CONSUMER RELATIONS.

Activities or mission (Part I)

ELECTRIC SERVICE TO OWNER-MEMBERS

  • RURAL ELECTRIC COOPERATIVE SUPPLYING ELECTRICAL UTILITIES TO ITS MEMBERS LOCATED IN THE WEST-CENTRAL PORTION OF MONTANA.

    Expenses $12,165,814 · Revenue $13,400,625

As filed on the 2023 return.

Listed in Part VII

  • John Burgmaier

    TRUSTEE

    Total calculated
    $21,225
    From this org
    $21,225
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Robert Pasha

    PRESIDENT

    Total calculated
    $18,450
    From this org
    $18,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mitchell Johnson

    VICE-PRESIDENT

    Total calculated
    $24,905
    From this org
    $24,905
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Leonard Sivumaki

    TRUSTEE

    Total calculated
    $16,089
    From this org
    $16,089
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Russell Bloom

    TRUSTEE

    Total calculated
    $34,500
    From this org
    $34,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Bryce Johns

    TRUSTEE

    Total calculated
    $31,490
    From this org
    $31,490
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Chris Music

    SECRETARY/TREASURER

    Total calculated
    $30,975
    From this org
    $30,975
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brad Bauman

    CEO

    Total calculated
    $272,427
    From this org
    $191,014
    From related orgs
    $0
    Other
    $81,413
    Hours/week
    56

    Schedule J breakdown matched by us

    Base
    $191,014
    Bonus
    $0
    Other
    $0
    Deferred
    $58,280
    Nontaxable benefits
    $23,133
    Filer's total
    $272,427

  • Robert Anderson

    MANAGER OF OPERATIONS

    Total calculated
    $210,239
    From this org
    $141,522
    From related orgs
    $0
    Other
    $68,717
    Hours/week
    56

    Schedule J breakdown matched by us

    Base
    $141,522
    Bonus
    $0
    Other
    $0
    Deferred
    $41,261
    Nontaxable benefits
    $27,456
    Filer's total
    $210,239

  • Mike Faith

    METERMAN

    Total calculated
    $183,127
    From this org
    $112,989
    From related orgs
    $0
    Other
    $70,138
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $112,989
    Bonus
    $0
    Other
    $0
    Deferred
    $32,377
    Nontaxable benefits
    $37,761
    Filer's total
    $183,127

  • Trey Caffyn

    LINE FOREMAN

    Total calculated
    $170,862
    From this org
    $110,107
    From related orgs
    $0
    Other
    $60,755
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $110,107
    Bonus
    $0
    Other
    $0
    Deferred
    $31,032
    Nontaxable benefits
    $29,723
    Filer's total
    $170,862

  • Robbie Dockter

    LINE FOREMAN

    Total calculated
    $178,360
    From this org
    $109,517
    From related orgs
    $0
    Other
    $68,843
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $109,517
    Bonus
    $0
    Other
    $0
    Deferred
    $31,032
    Nontaxable benefits
    $37,811
    Filer's total
    $178,360

  • Michelle Batson

    MANAGER OF FINANCE/ADMIN

    Total calculated
    $179,045
    From this org
    $109,433
    From related orgs
    $0
    Other
    $69,612
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $109,433
    Bonus
    $0
    Other
    $0
    Deferred
    $31,770
    Nontaxable benefits
    $37,842
    Filer's total
    $179,045

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 · Written employment contract
  • 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.

Provenance

Return type
form_990
Tax year
2023
Filed
29 April 2024
IRS schema version
2023v5.0
Source object
202421229349302927

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