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Nonprofiteer
← BLACK RIVER ELECTRIC COOPERATIVE

Form 990 for tax year 2023

Filed by BLACK RIVER ELECTRIC COOPERATIVE.

Totals

Total revenue
$56,027,585
Total expenses
$56,027,585
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$55,703,939
Investment income
$127,392
Other revenue
$196,254
Total assets, end of year
$156,527,531
Total liabilities, end of year
$75,544,406
Net assets or fund balances, end of year
$80,983,125
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: Sale of Electricity

    total $52,119,030 · related or exempt $52,119,030

  • 2b · Program service revenue: Capital Credits

    total $2,995,525 · related or exempt $2,995,525

  • 2c · Program service revenue: Other Operating

    total $589,384 · related or exempt $589,384

  • 3 · Investment income

    total $307,420 · excluded $307,420

  • 6a · Gross rents

    personal property $163,158

  • 6c · Rental income or loss

    personal property $163,158

  • 6d · Net rental income or loss

    total $163,158 · excluded $163,158

  • 7a · Gross sales of assets other than inventory

    other assets $109,492

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

    other assets $289,520

  • 7c · Gain or loss

    other assets -$180,028

  • 7d · Net gain or loss

    total -$180,028 · excluded -$180,028

  • 11a · Other revenue: Non-Operating

    total $33,096 · related or exempt $33,096

  • 11e · Other revenue, total

    $33,096

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $3,389,982

  • 5 · Compensation of officers, directors and key employees

    total $614,682

  • 7 · Other salaries and wages

    total $752,564

  • 20 · Interest

    total $2,748,745

  • 22 · Depreciation, depletion and amortization

    total $4,610,130

  • 24a · Other expenses: Cost of Power

    total $29,403,648 · program services $29,403,648

  • 24b · Other expenses: Distribution Expense

    total $8,755,328 · program services $8,755,328

  • 24c · Other expenses: Admin & General

    total $2,518,368 · program services $2,518,368

  • 24d · Other expenses: Member Services

    total $1,663,771 · program services $1,663,771

  • 24e · All other expenses

    total $1,570,367

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,158,285 · end of year $977,536

  • 2 · Savings and temporary cash investments

    beginning of year $8,948,000

  • 4 · Accounts receivable

    beginning of year $4,962,078 · end of year $4,356,273

  • 8 · Inventories for sale or use

    beginning of year $2,190,305 · end of year $2,485,207

  • 9 · Prepaid expenses and deferred charges

    beginning of year $326,747 · end of year $2,400,450

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

    $173,645,223

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

    $61,868,100

  • 10c · Land, buildings and equipment, net

    beginning of year $104,720,429 · end of year $111,777,123

  • 13 · Investments: program-related

    beginning of year $32,643,789 · end of year $34,530,942

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,528,806 · end of year $12,044,882

  • 19 · Deferred revenue

    beginning of year $1,500,000 · end of year $1,000,000

  • 23 · Secured mortgages and notes payable

    beginning of year $60,415,864 · end of year $59,373,795

  • 24 · Unsecured notes and loans payable

    end of year $2,537,233

  • 25 · Other liabilities

    beginning of year $749,279 · end of year $588,496

  • 31 · Retained earnings, endowment or other funds

    beginning of year $78,755,684 · end of year $80,983,125

Mission and programs · 2023

Mission

To provide electric power.

  • Distribution of electrical power to consumers

As filed on the 2023 return.

Listed in Part VII

  • John H Singleton

    CEO

    Total calculated
    $334,389
    From this org
    $195,169
    From related orgs
    $0
    Other
    $139,220
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $195,169
    Bonus
    not reported
    Other
    not reported
    Deferred
    $108,990
    Nontaxable benefits
    $30,230
    Filer's total
    $334,389

  • Donald E England

    Manager Line Distribution

    Total calculated
    $277,742
    From this org
    $156,510
    From related orgs
    $0
    Other
    $121,232
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $156,510
    Bonus
    not reported
    Other
    not reported
    Deferred
    $91,466
    Nontaxable benefits
    $29,766
    Filer's total
    $277,742

  • Paul Montgomery

    VP Engineering

    Total calculated
    $273,584
    From this org
    $186,312
    From related orgs
    $0
    Other
    $87,272
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $186,312
    Bonus
    not reported
    Other
    not reported
    Deferred
    $57,442
    Nontaxable benefits
    $29,830
    Filer's total
    $273,584

  • John C Eaves

    CFO

    Total calculated
    $236,743
    From this org
    $172,965
    From related orgs
    $0
    Other
    $63,778
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $172,965
    Bonus
    not reported
    Other
    not reported
    Deferred
    $33,948
    Nontaxable benefits
    $29,830
    Filer's total
    $236,743

  • Korey King

    District Manager

    Total calculated
    $201,238
    From this org
    $135,739
    From related orgs
    $0
    Other
    $65,499
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $135,739
    Bonus
    not reported
    Other
    not reported
    Deferred
    $35,963
    Nontaxable benefits
    $29,536
    Filer's total
    $201,238

  • Thomas Mooney

    Secretary

    Total calculated
    $5,950
    From this org
    $5,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Dennis Bess

    Director

    Total calculated
    $5,500
    From this org
    $5,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • James W Hovis

    Director

    Total calculated
    $5,400
    From this org
    $5,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Harold Ellinghouse

    Vice President

    Total calculated
    $5,050
    From this org
    $5,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Mark Bollinger

    Director

    Total calculated
    $5,050
    From this org
    $5,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jim Scaggs

    Director

    Total calculated
    $4,450
    From this org
    $4,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Bruce Gastineau

    Director

    Total calculated
    $4,150
    From this org
    $4,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Gary Cook

    President

    Total calculated
    $4,150
    From this org
    $4,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Jerry Ellis

    Director

    Total calculated
    $3,850
    From this org
    $3,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

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 · Payments for business use of a personal residence
  • 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
11 November 2024
IRS schema version
2023v5.1
Source object
202433179349303288

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