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Nonprofiteer
← BIG SANDY RURAL ELECTRIC COOPERATIVE CORP

Form 990 for tax year 2024

Filed by BIG SANDY RURAL ELECTRIC COOPERATIVE CORP.

Totals

Total revenue
$27,773,700
Total expenses
$27,773,700
Contributions and grants received
$0
Grants paid
$4,200
Program service revenue
$26,753,254
Investment income
$367,330
Other revenue
$653,116
Total assets, end of year
$65,414,778
Total liabilities, end of year
$36,089,656
Net assets or fund balances, end of year
$29,325,122
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$27,773,700

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 $26,753,254 · related or exempt $26,753,254

  • 3 · Investment income

    total $337,560 · excluded $337,560

  • 7a · Gross sales of assets other than inventory

    other assets $29,770

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $29,770

  • 7d · Net gain or loss

    total $29,770 · related or exempt $29,770

  • 11a · Other revenue: JOINT USE POLE ATTACHMENT

    total $390,747 · excluded $390,747

  • 11b · Other revenue: G&T CAPITAL CREDITS

    total $115,594 · related or exempt $115,594

  • 11c · Other revenue: PATRONAGE CAPITAL CREDITS

    total $107,415 · related or exempt $107,415

  • 11d · All other revenue

    total $39,360 · related or exempt $39,360

  • 11e · Other revenue, total

    $653,116

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,200

  • 4 · Benefits paid to or for members

    total -$1,020,992

  • 5 · Compensation of officers, directors and key employees

    total $364,816

  • 7 · Other salaries and wages

    total $4,889,414

  • 8 · Pension plan contributions

    total $438,865

  • 9 · Other employee benefits

    total $504,760

  • 10 · Payroll taxes

    total $752,053

  • 11b · Fees: legal

    total $111,671

  • 11c · Fees: accounting

    total $2,730

  • 13 · Office expenses

    total $97,680

  • 20 · Interest

    total $959,452

  • 22 · Depreciation, depletion and amortization

    total $2,774,612

  • 23 · Insurance

    total $61,078

  • 24a · Other expenses: COST OF POWER

    total $18,029,601

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $2,928,759

  • 24c · Other expenses: ADMINISTRATIVE AND GENE

    total $1,752,548

  • 24d · Other expenses: CONSUMER ACCOUNTS

    total $1,108,193

  • 24e · All other expenses

    total -$5,985,740

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,834,428 · end of year $2,075,333

  • 4 · Accounts receivable

    beginning of year $3,226,456 · end of year $2,844,140

  • 7 · Other notes and loans receivable

    beginning of year $287,838 · end of year $264,786

  • 8 · Inventories for sale or use

    beginning of year $621,849 · end of year $578,708

  • 9 · Prepaid expenses and deferred charges

    beginning of year $17,100 · end of year $19,760

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

    $66,784,207

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

    $30,922,600

  • 10c · Land, buildings and equipment, net

    beginning of year $34,667,777 · end of year $35,861,607

  • 13 · Investments: program-related

    beginning of year $23,128,246 · end of year $23,341,079

  • 15 · Other assets

    beginning of year $785,030 · end of year $429,365

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,222,387 · end of year $2,269,461

  • 23 · Secured mortgages and notes payable

    beginning of year $28,009,901 · end of year $29,903,790

  • 25 · Other liabilities

    beginning of year $3,957,866 · end of year $3,916,405

  • 29 · Capital stock, trust principal or current funds

    beginning of year $225,630 · end of year $225,780

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

    beginning of year -$409,026 · end of year -$395,991

  • 31 · Retained earnings, endowment or other funds

    beginning of year $30,561,966 · end of year $29,495,333

Mission and programs · 2024

Mission

PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,611 CONSUMERS MONTHLY.

  • PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,611 CONSUMERS MONTHLY.

    Expenses $27,773,700 · Grants $4,200 · Revenue $27,045,393

As filed on the 2024 return.

Listed in Part VII

  • Danny Wallen

    CHAIRMAN

    Total calculated
    $21,832
    From this org
    $21,832
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Greg Davis

    VICE CHAIRMAN

    Total calculated
    $18,996
    From this org
    $18,996
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • James Vanhoose

    SEC-TREAS

    Total calculated
    $17,497
    From this org
    $17,497
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Jimmie McKenzie

    DIRECTOR

    Total calculated
    $18,134
    From this org
    $18,134
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Gary Francis

    DIRECTOR

    Total calculated
    $19,559
    From this org
    $19,559
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Jason Holbrook

    DIRECTOR

    Total calculated
    $17,679
    From this org
    $17,679
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Velma May

    DIRECTOR

    Total calculated
    $17,402
    From this org
    $17,402
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.5

  • Bruce A Davis

    PRESIDENT/CEO

    Total calculated
    $33,327
    From this org
    $21,970
    From related orgs
    $0
    Other
    $11,357
    Hours/week
    40

  • Jeffery Prater

    PRESIDENT/GEN MGR

    Total calculated
    $172,904
    From this org
    $120,606
    From related orgs
    $0
    Other
    $52,298
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,606
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $52,298
    Filer's total
    $172,904

  • Sandra Shepherd

    OFFICE MANAGER

    Total calculated
    $139,335
    From this org
    $91,141
    From related orgs
    $0
    Other
    $48,194
    Hours/week
    40

  • John Harrison

    LINEMAN

    Total calculated
    $193,984
    From this org
    $172,171
    From related orgs
    $0
    Other
    $21,813
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,171
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $21,813
    Filer's total
    $193,984

  • Donald Holbrook

    LINEMAN

    Total calculated
    $145,344
    From this org
    $132,515
    From related orgs
    $0
    Other
    $12,829
    Hours/week
    40

  • William Jarrell

    CREW LEADER

    Total calculated
    $154,265
    From this org
    $131,952
    From related orgs
    $0
    Other
    $22,313
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,952
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $22,313
    Filer's total
    $154,265

  • Kirby Castle

    VP OPERATIONS

    Total calculated
    $158,239
    From this org
    $107,448
    From related orgs
    $0
    Other
    $50,791
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,448
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $50,791
    Filer's total
    $158,239

  • James Caudill

    LINEMAN

    Total calculated
    $115,010
    From this org
    $102,181
    From related orgs
    $0
    Other
    $12,829
    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 · 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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BIG SANDY FORESTRY LLC

    ROW CLEARING · KY · income $39,360 · assets $307,074

    Directly controlled by BIG SANDY RURAL ELECTRIC COOPERATIVE CORPORATION

Provenance

Return type
form_990
Tax year
2024
Filed
28 April 2025
IRS schema version
2024v5.1
Source object
202541199349301864

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