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← LEWIS COUNTY RURAL ELECTRIC COOPERATIVE ASSOCIATION

Form 990 for tax year 2022

Filed by LEWIS COUNTY RURAL ELECTRIC COOPERATIVE ASSOCIATION.

Totals

Total revenue
$16,484,145
Total expenses
$16,484,145
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$16,411,820
Investment income
$46,320
Other revenue
$26,005
Total assets, end of year
$57,596,952
Total liabilities, end of year
$37,447,989
Net assets or fund balances, end of year
$20,148,963
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 $15,982,715 · related or exempt $15,982,715

  • 2b · Program service revenue: CAPITAL CREDITS

    total $356,971 · related or exempt $356,971

  • 2c · Program service revenue: MISC ELECTRIC REVENUE

    total $72,134 · related or exempt $72,134

  • 3 · Investment income

    total $46,320 · excluded $46,320

  • 6a · Gross rents

    personal property $3,278

  • 6c · Rental income or loss

    personal property $3,278

  • 6d · Net rental income or loss

    total $3,278 · excluded $3,278

  • 11a · Other revenue: OTHER NON OPERATING REV

    total $22,727 · related or exempt $22,727

  • 11e · Other revenue, total

    $22,727

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,178,341

  • 5 · Compensation of officers, directors and key employees

    total $454,908

  • 7 · Other salaries and wages

    total $488,233

  • 20 · Interest

    total $1,137,857

  • 22 · Depreciation, depletion and amortization

    total $1,671,702

  • 24a · Other expenses: COST OF POWER

    total $7,359,028

  • 24b · Other expenses: DISTRUBUTION EXPENSE

    total $2,393,203

  • 24c · Other expenses: ADMIN & GENERAL

    total $1,141,780

  • 24d · Other expenses: MEMBER SERVICES

    total $659,093

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,825,721 · end of year $1,270,327

  • 4 · Accounts receivable

    beginning of year $1,376,414 · end of year $1,631,774

  • 8 · Inventories for sale or use

    beginning of year $168,917 · end of year $134,918

  • 9 · Prepaid expenses and deferred charges

    beginning of year $62,735 · end of year $55,633

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

    $52,857,723

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

    $6,091,968

  • 10c · Land, buildings and equipment, net

    beginning of year $43,628,970 · end of year $46,765,755

  • 13 · Investments: program-related

    beginning of year $7,737,368 · end of year $7,682,540

  • 15 · Other assets

    beginning of year $64,727 · end of year $56,005

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,043,622 · end of year $1,600,966

  • 23 · Secured mortgages and notes payable

    beginning of year $33,736,177 · end of year $35,292,549

  • 25 · Other liabilities

    beginning of year $634,126 · end of year $554,474

  • 29 · Capital stock, trust principal or current funds

    beginning of year -$108,323 · end of year -$75,471

  • 31 · Retained earnings, endowment or other funds

    beginning of year $19,559,250 · end of year $20,224,434

Mission and programs · 2022

Mission

"TO PROVIDE RELIABLE ENERGY AND RELATED SERVICES TO OUR MEMBERS AT THE LOWEST COST."

  • THE COOPERATIVE'S SERVICE CONSISTS OF 2,477 MILES OF ENERGIZED LINE SERVICING APPROXIMATELY 7,350 METERS. THE SERVICE AREA COVERS PART OF 7 COUNTIES: LEWIS, CLARK, KNOX, ADAIR, SHELBY, SCOTLAND, AND MARION AND THE TOWNS OF NOVELTY, ARBELA, GRANGER, DURHAM, MAYWOOD, MONTICELLO, AND MEDILL.

As filed on the 2022 return.

Listed in Part VII

  • Shawn Walling

    CEO

    Total calculated
    $209,716
    From this org
    $148,377
    From related orgs
    $0
    Other
    $61,339
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $148,377
    Bonus
    not reported
    Other
    not reported
    Deferred
    $31,109
    Nontaxable benefits
    $30,230
    Filer's total
    $209,716

  • Kendall Hawkins

    OPERATIONS M

    Total calculated
    $191,989
    From this org
    $110,672
    From related orgs
    $0
    Other
    $81,317
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $110,672
    Bonus
    not reported
    Other
    not reported
    Deferred
    $51,555
    Nontaxable benefits
    $29,762
    Filer's total
    $191,989

  • Rustyn Carter

    LINEMAN

    Total calculated
    $176,699
    From this org
    $108,278
    From related orgs
    $0
    Other
    $68,421
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $108,278
    Bonus
    not reported
    Other
    not reported
    Deferred
    $48,549
    Nontaxable benefits
    $19,872
    Filer's total
    $176,699

  • Theresa Simmons

    MANAGER OF F

    Total calculated
    $161,692
    From this org
    $101,937
    From related orgs
    $0
    Other
    $59,755
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $101,937
    Bonus
    not reported
    Other
    not reported
    Deferred
    $47,048
    Nontaxable benefits
    $12,707
    Filer's total
    $161,692

  • Ryan Waterman

    LINEMAN

    Total calculated
    $119,545
    From this org
    $100,117
    From related orgs
    $0
    Other
    $19,428
    Hours/week
    45

  • Larry Clark

    DIRECTOR

    Total calculated
    $13,750
    From this org
    $13,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Sandra Ebeling

    DIRECTOR

    Total calculated
    $10,250
    From this org
    $10,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Randy James

    DIRECTOR

    Total calculated
    $10,250
    From this org
    $10,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Larry Smoot

    DIRECTOR

    Total calculated
    $9,500
    From this org
    $9,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Jeff Whiston

    DIRECTOR

    Total calculated
    $8,500
    From this org
    $8,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Donna Flood

    DIRECTOR

    Total calculated
    $8,250
    From this org
    $8,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Michael Schantz

    DIRECTOR

    Total calculated
    $7,500
    From this org
    $7,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Emery Geisendorfer

    DIRECTOR

    Total calculated
    $6,500
    From this org
    $6,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dan Dannenhauer

    DIRECTOR

    Total calculated
    $5,250
    From this org
    $5,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Angie Seals

    DIRECTOR

    Total calculated
    $3,750
    From this org
    $3,750
    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 · 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
2022
Filed
27 July 2023
IRS schema version
2022v5.0
Source object
202342099349301404

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