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Nonprofiteer
← BUTTE ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by BUTTE ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$10,045,075
Total expenses
$7,800,336
Contributions and grants received
$0
Grants paid
$26,737
Program service revenue
$737,330
Investment income
$288,764
Other revenue
$9,018,981
Total assets, end of year
$72,523,427
Total liabilities, end of year
$45,770,272
Net assets or fund balances, end of year
$26,753,155
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: G&T CAPITAL CREDITS

    total $602,602 · related or exempt $602,602

  • 2b · Program service revenue: OTHER CAPITAL CREDITS

    total $134,728 · related or exempt $134,728

  • 3 · Investment income

    total $258,218 · excluded $258,218

  • 6a · Gross rents

    personal property $53,388

  • 6c · Rental income or loss

    personal property $53,388

  • 6d · Net rental income or loss

    total $53,388 · related or exempt $38,688 · unrelated business $14,700

  • 7a · Gross sales of assets other than inventory

    other assets $30,546

  • 7c · Gain or loss

    other assets $30,546

  • 7d · Net gain or loss

    total $30,546 · excluded $30,546

  • 10a · Gross sales of inventory

    $16,204,530

  • 10b · Cost of goods sold

    $7,238,937

  • 10c · Net income from sales of inventory

    total $8,965,593 · related or exempt $8,965,593

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $26,737

  • 4 · Benefits paid to or for members

    total $532,638

  • 5 · Compensation of officers, directors and key employees

    total $241,045

  • 7 · Other salaries and wages

    total $1,277,250

  • 8 · Pension plan contributions

    total $164,217

  • 9 · Other employee benefits

    total $231,700

  • 10 · Payroll taxes

    total $92,403

  • 11b · Fees: legal

    total $32,424

  • 11c · Fees: accounting

    total $35,246

  • 11g · Fees: other

    total $275,456

  • 12 · Advertising and promotion

    total $85,473

  • 13 · Office expenses

    total $286,721

  • 14 · Information technology

    total $141,422

  • 16 · Occupancy

    total $382,197

  • 17 · Travel

    total $309,348

  • 19 · Conferences, conventions and meetings

    total $15,777

  • 20 · Interest

    total $1,262,852

  • 22 · Depreciation, depletion and amortization

    total $2,208,567

  • 23 · Insurance

    total $2,151

  • 24a · Other expenses: CUSTOMER SERVICE

    total $100,877

  • 24b · Other expenses: ADMINISTRATION EXPENSE

    total $93,041

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $2,794

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $473,968 · end of year $1,969,745

  • 2 · Savings and temporary cash investments

    beginning of year $2,705,503 · end of year $2,496,793

  • 4 · Accounts receivable

    beginning of year $1,625,234 · end of year $1,336,726

  • 8 · Inventories for sale or use

    beginning of year $1,640,084 · end of year $1,526,955

  • 9 · Prepaid expenses and deferred charges

    beginning of year $150,874 · end of year $114,948

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

    $85,515,253

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

    $29,460,724

  • 10c · Land, buildings and equipment, net

    beginning of year $51,815,037 · end of year $56,054,529

  • 13 · Investments: program-related

    beginning of year $8,675,107 · end of year $9,023,731

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,192,315 · end of year $1,852,068

  • 19 · Deferred revenue

    beginning of year $1,262,447 · end of year $1,207,063

  • 23 · Secured mortgages and notes payable

    beginning of year $39,205,970 · end of year $41,701,755

  • 25 · Other liabilities

    beginning of year $1,014,198 · end of year $1,009,386

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

    beginning of year $782,400 · end of year $879,939

  • 31 · Retained earnings, endowment or other funds

    beginning of year $23,628,477 · end of year $25,873,216

Mission and programs · 2023

Mission

THE MISSION OF BUTTE ELECTRIC COOPERATIVE IS TO CONTINUALLY IMPROVE CUSTOMER SERVICES; PROVIDE SAFE, RELIABLE, AND COMPETITIVELY PRICED ELECTRICITY; AND CONTINUE TO LEAD IN DEVELOPING OUR COMMUNITIES FOR THE BENEFIT OF OUR MEMBERS.

  • SALE OF ELECTRICITY TO APPROXIMATELY 7,085 CONSUMER ACCOUNTS.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brett Fosheim

    OPERATIONS M

    Total calculated
    $173,975
    From this org
    $131,420
    From related orgs
    $0
    Other
    $42,555
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,420
    Bonus
    not reported
    Other
    not reported
    Deferred
    $18,262
    Nontaxable benefits
    $24,293
    Filer's total
    $173,975

  • Jeffery Hughes

    NEWELL FOREM

    Total calculated
    $154,187
    From this org
    $103,832
    From related orgs
    $0
    Other
    $50,355
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,832
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,062
    Nontaxable benefits
    $24,293
    Filer's total
    $154,187

  • James Gyles

    STURGIS FORE

    Total calculated
    $152,134
    From this org
    $103,332
    From related orgs
    $0
    Other
    $48,802
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,332
    Bonus
    not reported
    Other
    not reported
    Deferred
    $24,509
    Nontaxable benefits
    $24,293
    Filer's total
    $152,134

  • Bart McLellan

    MEMBER SERVI

    Total calculated
    $151,401
    From this org
    $100,444
    From related orgs
    $0
    Other
    $50,957
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $100,444
    Bonus
    not reported
    Other
    not reported
    Deferred
    $26,664
    Nontaxable benefits
    $24,293
    Filer's total
    $151,401

  • Matthew Sleep

    CEO

    Total calculated
    $123,397
    From this org
    $123,397
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Dan Marrs

    VICE-PRESIDE

    Total calculated
    $15,414
    From this org
    $15,414
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Travis Schenk

    TREASURER

    Total calculated
    $14,340
    From this org
    $14,340
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Cris Miller

    PRESIDENT

    Total calculated
    $14,175
    From this org
    $14,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Thomas Brunner

    SECRETARY

    Total calculated
    $13,987
    From this org
    $13,987
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Steve Smeenk

    DIRECTOR

    Total calculated
    $13,356
    From this org
    $13,356
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Paul Winkler

    DIRECTOR

    Total calculated
    $12,721
    From this org
    $12,721
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Dan Hefner

    DIRECTOR

    Total calculated
    $11,965
    From this org
    $11,965
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • James Mortenson

    ASST SECRETA

    Total calculated
    $11,270
    From this org
    $11,270
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Chandy Olson

    DIRECTOR

    Total calculated
    $10,420
    From this org
    $10,420
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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.

Provenance

Return type
form_990
Tax year
2023
Filed
11 September 2024
IRS schema version
2023v5.0
Source object
202442559349300344

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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